Earlier this week, a man decided to rob a bank for $1 with the intention of being arrested, so that he could get medical treatment in jail. While this may come across as a bizarre story, the truth is that most patients struggle to meet medical expenses for life saving treatments and surgeries. GiveForward.com is a platform to help families receive financial assistance by crowd-funding medical expenses.
Statistics show that 50% of Americans would not be able to come up with $2000 to pay for a medical emergency. Further, 75% of them would need to borrow from friends, family or mortgage their homes to come up with the money. Even with health insurance, there are tons of out of pocket expenses that put a lot of pressure on the financial and emotional stability of families.
GiveForward.com founders Desiree and Ethan met back in 2008 and realized that they were both passionate about finding a way for individuals to raise money for causes. There were no resources available to do so. So they got together to create GiveForward.com, an online platform to let anyone crowd-source funds for medical expenses.
The platform lets friends and family members create a fundraising page, and tell everyone their story via photos, videos and posts. They can then promote their page over email and social media. Each fundraiser has an end date, on which day a cheque is sent to the beneficiary for the amount raised, minus a processing fee of 7%. Donors on the site can choose to remain anonymous and while making a donation.
To date, GiveForward has raised over $5 million for medical expenses and other causes. Check out some of the amazing feedback by GiveForward beneficiaries here: http://www.giveforward.com/p/success-stories
With crowd-funding platforms gaining traction (KickStarter.com for creative projects and 33needs.com for social ventures) GiveForward is well placed to become the Go-To place to crowd-fund expenses to cover costs for life-saving medical procedures.