A recent study reveals an alarming trend: cancer survivors are increasingly resorting to crowdfunding to finance their treatment and living expenses. Despite the growing reliance on platforms like GoFundMe, only one in nine campaigns successfully reached their fundraising goals. The findings, published in the November 2023 issue of the Journal of the National Comprehensive Cancer Network, raise serious questions about the effectiveness of crowdfunding as a financial support mechanism for those battling cancer.
According to lead researcher Jason Zheng, a senior principal scientist of health services research at the American Cancer Society, the study highlights a significant gap between the financial assistance cancer survivors seek and what they actually receive. “The use of crowdfunding is growing, and shortages between financial assistance requested and received are substantial, underscoring unmet financial needs among cancer survivors in the U.S.,” Zheng stated in a news release.
The research utilized artificial intelligence to analyze over 78,000 cancer-related fundraising campaigns on GoFundMe between January 2021 and February 2023. The study collected 90-day donation records for each campaign, revealing that a total of $506 million was raised from nearly 4.5 million donation transactions. Despite this impressive figure, the amount raised accounted for less than 35% of the total financial assistance requested, which amounted to nearly $1.5 billion. The median fundraising goal was $10,000, while the median amount received was only $4,000.
Challenges Faced by Cancer Survivors
The study found that fewer than 12% of campaigns met their fundraising targets within the initial 90 days. Zheng emphasized that although cancer-related GoFundMe campaigns raised millions, this figure represents less than 5% of estimated out-of-pocket costs for patients annually. “Utilizing the private market may help some patients, but public health policies are needed to make healthcare affordable for all patients with cancer,” he added.
Interestingly, the types of cancer that received the most financial assistance through crowdfunding included pancreatic, blood, and brain cancers—diseases that, while not the most commonly diagnosed, are among the most expensive to treat. The study noted that for individuals with a history of cancer, out-of-pocket expenses are expected to escalate as treatment costs rise and insurance companies continue to shift more financial burdens to patients.
Approximately 12% of cancer survivors in the United States live in poverty. The study also revealed that two-thirds of adult survivors and their families carrying medical debt have had to cut back on essential spending, including food and clothing.
The Broader Implications
The widespread reliance on crowdfunding for medical care and basic necessities, coupled with the high rate of unmet fundraising goals, underscores the financial instability faced by cancer survivors in the U.S. The researchers concluded that the current safety nets are inadequate, leaving many individuals to fend for themselves in the face of rising healthcare costs.
This study serves as a critical reminder of the financial challenges posed by cancer treatment and the limitations of crowdfunding as a solution. As the healthcare landscape evolves, it becomes evident that systemic changes are necessary to support cancer patients effectively.
For further information, refer to the study by Zhiyuan Zheng et al., titled “Cancer-Related Crowdfunding Economy in the United States,” published in the Journal of the National Comprehensive Cancer Network (2023).
