A New Crowdfunding Model for Healthcare
All over the world people are dying because they lack the funds to pay for life-saving medical treatment.
Watsi is a new crowdfunding platform that lets people fund treatments for others who cannot afford appropriate levels of healthcare.
Prospective donors browse profiles that contain information about an individual’s medical emergency and the type and the cost of their treatment.
They can then donate an amount – from $5 upwards – to fund a life-changing medical treatment. Profiles stay on the site until they are fully funded.
Among the current profiles is one of a 19-month old baby with meningitis who has developed epilepsy as a complication. Through surgery doctors say they can stop the epileptic reactions.
There is also a single mother from Kenya who cannot take care of her family because she is suffering from a gastric outlet obstruction. She needs an operation to remove the blockage.
Donations Directly Fund Treatment
Although some people are skeptical about how much money goes to pay the overheads of nonprofit organizations, Watsi says that every donated cent goes to fund medical care. Its own costs are covered by private donations, foundations, and corporations. All Watsi’s financials are publicly available on their Google Transparency Document.
Patients eligible for funding are those whose lives will be severely impacted if they don’t receive help. The treatments must cost less than $3,000 USD and have a high probablility of success.
Success Stories
The platform has already chalked up success stories. Its first ever case was a Nepalese girl who needed heart surgery. Thanks to the Watsi community her operation was fully funded within eight days.
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