As healthcare bills continue to skyrocket, people increasingly are turning to a new source: GoFundMe.
According to NPR, “Patients Are Turning To GoFundMe To Fill Health Insurance Gaps.”
The report states: “GoFundMe, the largest online, crowdsourced fundraising platform, says contributors have raised more than $5 billion, all told, from 50 million donations in the eight years it has been in business.”
“Setting up a GoFundMe page has also become a go–to way for people in need of help to pay their doctors and other health providers. Medical fundraisers now account for 1 in 3 of the website’s campaigns, and they bring in more money than any other GoFundMe category, says GoFundMe CEO Rob Solomon.”
“‘In the old paradigm you would give $20 to somebody who needed help,’ Solomon says. ‘In the new paradigm, you’ll give $20, you’ll share that and that could turn into 10, 20, 50 or 100 people doing that. So, the $20 could turn into hundreds, if not thousands, of dollars.'”
Becker’s Hospital CFO Report adds that “GoFundMe previously collected 5 percent of fundraising proceeds, as well as a credit card processing fee. It has since eliminated the 5 percent surcharge.”
For more information on the issues surrounding medical debt, please contact RIP Medical Debt.