Know about Crowdfunding Medical Treatment

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crowdfunding

In India, people living in different slum parts of India cannot afford Medical Treatment. As we know,Slums are often found in metropolitan areas, although they may also be found in suburban regions where housing quality is poor and living circumstances are bad in other nations. While slums vary in size and other qualities, they always have one thing in common: poverty, most don’t have access to dependable sanitation, clean water, power, law enforcement, or other essential amenities. Slum dwellings range from shanty houses to professionally designed homes that have deteriorated due to poor construction or a lack of basic upkeep.

The medical condition of slum areas is worse than ever. Because of the late complications of these diseases that the formal health sector sees and deals with, chronic non-communicable and communicable diseases such as hypertension, diabetes, intentional and unintentional injuries, tuberculosis, rheumatic heart disease, and HIV infection are recognized to exist in slums. However, until these diseases show as stroke, myocardial infarction, renal failure, suicide, multidrug-resistant tuberculosis, heart valve disease, and AIDS in slums, little is known about their magnitude, distribution, and risk factors.

In order to protect these people from diseases that may be fatal to their life, there is a need for a crowdfunding platform in India. Now the question arises, What exactly is Crowdfunding?

What exactly Is Crowdfunding

Crowdfunding is the practice of obtaining modest sums of money from a large number of people in order to support a new business initiative. Crowdfunding connects financiers via social media and financial institutions, with the ability to boost innovation by diversifying the pool of investors beyond the usual circle of ownership, family, and investment firms.

What Is Crowdfunding and How Does It Work?

In most countries, there are limits on who can fund a new company and how much they can donate. These limitations are intended to safeguard novice or non-wealthy investors from putting too much of their funds at risk, similar to the restrictions on hedge fund investment. Because so many new enterprises fail, investors are in danger of losing their first investment.

Entrepreneurs may now raise hundreds of thousands or millions of dollars through crowdfunding from anyone with money to invest. Crowdfunding for medical treatment India allows anyone with an idea to present it to a group of eager investors.People have established millions of medical campaigns to pay for their medical treatments since the development of internet medical crowdfunding sites.

For many people in India, health insurance is still a foreign notion. According to the 75th wave of the National Sample Survey (2017-18), more than 80% of India’s population is without health insurance. Even when it is used, there is a limit on the amount of money a patient may claim. The remaining two seemingly final alternatives for patients and their families are to apply to different government assistance programs or a non-governmental organization (NGO). However, both of these possibilities were hampered by the continuing epidemic. While non-governmental organizations (NGOs) were forced to seal their doors during the lockdown, potential beneficiaries were unable to contact government departments that were at the forefront of pandemic-prevention efforts.

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