Why Is Medical Crowdfunding The Simplest Solution To Paying For Costly Treatments in India
By: Milton, Diamond
Published On: November 09, 2021
India is quickly becoming one of the top spots for medical tourism with the availability of world class doctors, advanced facilities and low-cost treatment compared to other developed countries. In 2020, India’s medical tourism sector was estimated to be worth US$ 5–6 billion.
Having said that, quality healthcare still remains a luxury for most Indian citizens. Even before the Covid-19 pandemic struck, India’s out-of-pocket expenses on healthcare were among the highest in the world, accounting for about 60% of total health expenditure. Researchers at a university in India found that the pandemic pushed an additional 230 million Indians into poverty last year. There seems to be a lack of awareness around financing options during medical emergencies. Crowdfunding for medical treatments is a fast and viable alternative in situations like these.
Crowdfunding is a way of raising money from a large number of people typically through the internet. More often than not, the single most critical obstacle between the patient and the treatment is lack of funds. Crowdfunding websites in India like ImpactGuru help patients raise funds for their medical treatment with the support of its extensive donor community.
Over the years, donors on ImpactGuru have helped raise funds for expensive treatments like targeted therapy, chemotherapy, proton therapy, organ transplant or any medical emergency. Here’s why medical crowdfunding is the simplest option to pay for costly treatments:
Medical crowdfunding is a preferable option as there is no onus on the patient to repay the amount. This aspect of crowdfunding can prevent many people from falling into debt traps trying to pay for costly treatments.
Quicker and easier process
Time is crucial during medical emergencies. Applying for a medical loan to pay off medical bills may sometimes take weeks or even a month. As far as insurance is concerned, most Indians are underinsured. According to a survey conducted in 2018, over 80% Indians were not covered under any form of health insurance. In cases where the patient is insured, settlement of claims might take weeks.
Compared to medical loans or insurance, crowdfunding is a much quicker and easier process. Setting up a fundraiser takes only 5 minutes, after which your campaign will be ready to go live and receive donations to pay off medical bills of yourself or your loved one.
We, at ImpactGuru, understand the urgency that comes with certain medical treatments that may involve partial payments. To make things easier, you have the liberty to withdraw funds at any point during your medical fundraising campaign. Moreover, irrespective of whether your fundraiser meets the goal amount, you get to keep whatever you have raised!
Medical crowdfunding on ImpactGuru has helped pay medical expenses as well as save lives of many. Here are stories of few people:
4-year-old Anushka is now tumor-free!
In May 2020, 4-year-old Anushka from West Bengal Anushka suddenly fell ill. Her parents traveled over 180 KMs to see a specialist in Kolkata. A series of tests on Anushka’s brain showed a rare cancerous tumor - Medulloblastoma.
After borrowing money for Anushka’s brain surgery, her father could not afford the next line of treatment - chemo and radiotherapies. When all hope seemed lost, the hospital where Anuskha was admitted, advised her father to set up a fundraiser with ImpactGuru.
Within a few months, Anushka’s story received the prompt love and support from 1,000+ kind donors who helped her family raise over INR 13.63 lakhs! The amount raised through donations enabled Anushka’s course of treatment to be carried out successfully. Currently, Anuskha is on her road to complete recovery!
Little Ayaansh got Zolgensma with the help of medical crowdfunding!
Little Ayaansh Gupta from Hyderabad was diagnosed with Spinal muscular atrophy (SMA) - a condition which affects the muscles and nerves of the child and results in a complete loss of motor functions and multiple organ failures over time. The only cure for this disease was Zolgensma - the world’s costliest drug at $2.1 million! Ayaansh’s parents were shattered upon hearing the cost of the medicine. No average Indian household could afford INR 16 crore all alone!
The 3-year-old’s parents saw a light at the end of the tunnel when they started a fundraiser with ImpactGuru. Within 119 days, Ayaansh’s fundraiser raised INR 14.28+ crore from 62,467 donors! Little Ayaansh received his shot of Zolgensma in June 2021 and is now taking baby steps towards an SMA-free life!
These patients and many others like them have been able to successfully fundraise their medical treatments on ImpactGuru.
If you are struggling to afford expensive treatment costs for yourself or your loved one, start a free fundraiser on ImpactGuru and raise funds for medical expenses today!