CareCalculator: How To Choose Your CareFunding Goal

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CaringWays® Spotlight: Stephen Murray, Engagement Specialist

Medical Fundraising

Financial Challenges and Medical Expenses Patients Have During the Holidays

June 30, 2022

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Helping a friend or family member raise funds to help cover medical expenses is one of the best ways to show them you care. Whether they received cancer treatment or experienced a medical emergency, many patients have referred to their CaringWays® campaign as “a game-changer” because it helped them afford care and cover other daily living expenses during treatment or recovery. 

Determining how much money to raise is often one of the most challenging parts of starting a medical fundraising campaign. Expenses can be difficult to predict. Many patients struggle with high-deductible or max-out-of-pocket insurance plans. Some patients also face the challenge of not being able to work during treatment. In addition, the financial burden of recovery can often last beyond treatment, with ongoing prescriptions and the challenge of figuring out how to live after recovery. 

CareCalculator: How To Choose Your CareFunding Goal

CaringWays® was built with a commitment to partnering with patients, their caregivers, and CareChampions throughout the entire healthcare journey. Determining the right fundraising goal is often the first step in maximizing your CaringWays® campaign. That’s why our team designed a CareCalculator to help you outline the cost of recovery and determine a fundraising goal for your campaign. Below are a few important costs we encourage you to consider as you set your CaringWays® campaign goal. 

Help Pay for Necessary Medical Procedures

In addition to the physical and emotional stress of a cancer diagnosis or medical emergency, many patients worry about the financial resources needed to cover treatment. Creating a CaringWays® campaign helps patients focus on receiving the care they need without worrying about how they’re going to pay for it. 

Here are a few factors to consider as you try to determine how much to raise to help cover necessary medical procedures:

Insurance coverage and out-of-pocket expenses

Patients with insurance often know their deductible and max out-of-pocket amounts. It’s important to consider these numbers in the context of the recovery journey. How long is the anticipated treatment? How much support does the patient need in order to cover their insurance charges?

Secondary healthcare providers

In addition to the need for medical coverage, some medical emergencies create a need for other services not covered by health insurance. This includes receiving care from dentists, optometrists, psychologists, and other practitioners to support the patient’s well-being. 

Ongoing treatment after recovery

It’s important to consider the patient’s need for long-term care. What type of care does the patient need to receive after treatment or recovery? This could be anything from ongoing prescriptions to physical therapy.

Travel costs

The cost of traveling to receive treatment can add up quickly for patients, and it’s not covered by insurance. Helping patients find a way to pay for gas, public transportation, and even parking can make a significant difference in their ability to receive care. 

Cover Everyday Expenses to Provide Greater Care

In addition to medical costs, it’s also important to consider the everyday expenses that still occur during recovery. It’s normal for patients and their caregivers to feel overwhelmed by daily tasks and responsibilities when also undergoing intense medical treatment. 

At CaringWays®, we wanted to provide a way to eliminate that burden for patients and their families. Our innovative CareCard loads all donations onto a debit card for the patient’s daily needs. 

Here are just a few of the everyday expenses that you can cover through CaringWays®

Meals

Rather than setting up a never-ending train of casseroles, a CareCard provides patients with the freedom and flexibility to cover the cost of feeding their family during treatment. It also eliminates the complexity of explaining dietary needs or restrictions to anyone that wants to help.

Home care services

Everyday tasks such as laundry and mowing the grass can often feel impossible during treatment. Helping patients cover these expenses by paying for landscape services, cleaning, or laundry is a great way to provide practical help every single day of their recovery.

Employment services

Worrying about their future financial security can be a serious struggle for patients who lose their jobs or are forced to look for new employment because of their diagnosis.

Determine Your Goal with the CareCalculator

If you’re thinking about launching a CaringWays® campaign but aren’t sure where to start, our CareCalculator is a tool to help you get started. Check out our CareCalculator page or explore other resources to start your medical fundraising journey.

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