A person’s resources are shaken tremendously when the threat of not being able to shoulder medical expenses takes place. Since there are very few available financial assistance options in the USA, majority of people turn to medical fundraising as a resort to reduce the burden caused by medical expenses. In fact, crowdfunding sites reportedly were able to raise $2.8 billion in 2012.
Reasons to Conduct Medical Fundraising
The benefits of using fundraising websites range from an access to all people using the Internet who can be possible donors to being able to raise an amount of money that is more than the target, which can be use for health rehabilitation, emergency, and unexpected expenses. Conducting Medical Fundraising does not only provide financial support for medical expenses. Nowadays, crowdfunding sites become a platform that showcase generosity of people and a medium to extend support for people through words and encouragements.
According to Linda Lysakowski, President and CEO of Capital Venture, it is wise to take advantage of ‘an air of optimism’ brought by fundraising success since ‘the economy continues to be a major concern for everyone.’
Matthew Alberto, co-founder of a crowdfunding website called the PeoplePledge, shared that he had no idea that the fundraising platform was born from his own experiences of being unable to pay for medical expenses when his grandfather suffered from stomach cancer.
Tips to Successfully Reach Goals in Medical Fundraising
While fundraising for medical expenses provide a promising form of help in times of crisis, not all medical fundraisers are successful in reaching their targets. Here are some ways to reach your goal when fundraising for medical expenses:
1. Check reviews about the chosen fundraising site
Before picking a site to use for medical fundraising, it is important that you know how the site operates and if you find the terms and conditions fair, favorable, and agreeable.
Vera Alexander, a Los Angeles-based non-profit consultant emphasized the need to do some research on what the sites have funded. Not only so, check testimonials, community responses on social media and how well they respond to emails and correspondence.
2. Effective narration of the story
According to Philanthrophy Journal, it is important to have a strong case for support when fundraising. Fundraisers should always remember that potential donors will always need a justifiable reason to support their cause. In addition to this, the story should be shared in an emotional and rational way.
Peoplepledge.com.au stated that in order to share the story effectively, you must remember that your story will dictate your funds. It will serve as the point of connection between the fundraiser and the potential donors, and most likely will dictate the inclination of potential donors to donate to your cause.
Some vital information that should be included are the reasons for asking money and why the medical fundraising is important. Remember that your story that you share is your product you are essentially selling. It is the only way supporters will read and understand your story.
3. Frequent updating
Fundraising supporters would love to know how their donations have made a difference. Therefore, keeping their connection and interest to the fundraising can be done through giving frequent updates. It is important that when sharing progress, setbacks, achievements, or setbacks, you must be honest and real.
The more updates you give, the more people become aware of your fundraising, and ultimately, the more it will be successful.
4. Ask for what is needed
Before signing up for medical fundraising, you should spend some time to make a financial statement of actual costs. It is also advised to add a certain portion for emergency and unexpected costs. Honesty remains to be the most important rule when fundraising for medical expenses.
1. NerdWallet Health finds Medical Bankruptcy accounts for majority of personal bankruptcies: http://www.nerdwallet.com/blog/health/2014/03/26/medical-bankruptcy/
2. Ten tips for fundraising success: http://www.philanthropyjournal.org/resources/fundraisinggiving/ten-tips-fundraising-success
3. Fundraising for Medical Expenses: http://peoplepledge.org/blog/fundraising-for-medical-expenses/
4. ‘Crowdfunding’ sites pay medical bills, raise hopes: http://www.usatoday.com/story/news/nation/2013/01/11/crowdfunding-medical-expenses-fundraising/1786039/