How Is Fundraising A Solution During A Medical Emergency?
By: Taqdees & Chiara
Published On: January 27, 2021
Crowdfunding is a method of raising funds online by starting a fundraiser and reaching out to people who are looking to donate and support a cause. In recent years it has become a powerful alternative to traditional methods of funding, especially when considering medical loans and insurance. The essence of crowdfunding is that the crowd provides financial resources in the form of donations to support a specific cause. Medical crowdfunding in India is donation-based crowdfunding. Where funders support charity fundraisers. The funders financially support the crowdfunding without monetary or non-monetary rewards. So why has medical crowdfunding come to the spotlight?
Medical Fundraising Is Needed Now More Than Ever
According to the National Sample Survey Office, more than 80% of the Indian population does not have access to health insurance. An illness like cancer can cost between INR 10-30 lakhs depending on the seriousness of the stage, which needs to be arranged under a deadline. For a strong 250 million middle-class citizens in India, this financial stress can be extensive. Crowdfunding can help finance the medical bills of such individuals and lessen their burden.
With the benefits that medical crowdfunding has been bringing to people, quicker access to healthcare has been a highlight. Medical crowdfunding is a means of raising funds for the treatment of diseases, hospital expenses, surgeries, transplants, post-treatment expenses, drugs, and diagnosis.
Is Starting A Fundraiser Free?
Fundraising platforms charge a fee on a percentage basis. The average platform fee is around 5%. ImpactGuru lets you start a fundraiser at a 0-cost platform fee. In other words, you can start a fundraiser for free!
Many platforms do not transfer the funds if the goal amount is not reached but we, at ImpactGuru, believe in flexibility, and thus, we transfer the amount raised irrespective of the goals reached or not.
The Success Of Medical Crowdfunding
Amongst all fundraising campaigns, 80% are fundraisers related to medical and healthcare. Crores of rupees are raised by donors every week. ImpactGuru has raised rupees 1500+ Cr impacting more than 5,00,000 lives online. A 22 days old baby, Misheetha Sree needed immediate hospitalization for congenital diaphragmatic hernia and sepsis. The treatment cost was Rs 10 lakh. Arranging such a huge amount for her parents was beyond difficult. Like any other person, they could not believe the idea of crowdfunding but they gave it a shot. They were able to raise 95% of the amount in 39 days. Crowdfunding is a powerful idea, hear it from Misheetha’s mother, “Had it not been for you, I would not be holding my baby in my arms. With great pleasure, we would like to tell you that our baby is now fine and we can’t thank you enough for it”. Crowdfunding is proven to make a difference and give hope and life to people under financial stress to avail treatment. Crowdfunding can make healthcare available for all in a few simple steps. Start a fundraiser, upload images of the patient, explain why you need the funds, and share your fundraiser! Indeed, it is that simple. ImpactGuru professionals are available for assistance throughout the fundraising process. Moreover, we also offer 24/7 support.
The simplicity and effectiveness of crowdfunding should reach anyone who is in need of it.