Ice and gentle compression are home remedies for knee inflammation and pain, according to WebMD. It is also important to rest the knee and allow it to recover naturally.
Applying ice to the knee for 10 to 20 minutes three times a day helps reduce swelling and also dulls pain, explains WebMD. Between icing sessions, wrapping an elastic bandage around the knee treats the swelling. The bandage must not be wrapped too tightly and should be loosened it if the area below the knee begins to tingle or feel numb. When resting, the patient should elevate the knee above the level of the heart.