25 Sep Crowdfunding for Healthcare & Medical Costs
Mary was diagnosed with a serious illness and required a surgery that would cost thousands of dollars. At the time of the diagnosis, Mary was in between jobs and did not have a stable income. She had also maxed out her credit and did not have health insurance. Desperate, she turned to Crowdfunding. She posted her story on CauseWish with the help of family. CauseWish is a Crowdfunding platform that specializes in raising money for medical projects, bills and expenses. Within a few weeks, Mary was able to raise the money she required. She underwent surgery and a few more weeks later, she had fully recovered. The money she raised from Crowdfunding paid her hospital bills and even allowed her to get a decent insurance policy. She even mailed some homemade cards to her backers with a heartfelt message of gratitude.
We are all familiar with equity Crowdfunding and other forms of Crowdfunding to back innovations and inventive projects. We have previously looked at Crowdfunding art projects as well as Crowdfunding being used by established businesses. Using Crowdfunding to raise money for health purposes has been largely ignored, despite the fact that this niche has recorded insurmountable growth since the inception of Crowdfunding.
Contrary to popular belief this form of Crowdfunding is not only for the uninsured. Many people who have insurance still have significant out of pocket expenses, which may become too much to bear. Using platforms such as CauseWish can help one rally friends and family together for a common cause.
Using a platform like CauseWish to raise funds for medical bills is the same as using any other Crowdfunding platform for any other project. One must make as effort to launch and promote their campaign as they would all other sites. Your description must be thorough and concise. You must show clearly what you are raising money for and detail exactly how the money will be used. Always include a personal video which has proven to increase donations. Rewards in this case are optional. A lot of backers will give money to health projects due to empathy and not because they are getting something in return.
More often than not, medical campaigns are run on behalf of a loved one. Ensure your description explains your relationship with the beneficiary. Also be detailed on when and how the money will be transferred to the beneficiary. The best practice is to have a link that transfers the funds directly to the beneficiary to alleviate donor security concerns.
When you are ready preparing and assessing your project and you are ready to launch, socialize your campaign as you would any other project. If you think your story is worthy enough, you can talk to your local radio and TV station and ask them to cover your story. They just might! If they do then, you will receive donations from people way outside your personal network.
Crowdfunding for health projects is a great way to receive help from your family and friends and close network associates without getting buried in debt. The road to recovery is much smoother thanks to Crowdfunding. If anyone you know has used this form of Crowdfunding, tell us in the comment section below.