Utilization of Crowdfunding for Cataract and LASIK Procedures. (4th July 2022)

• Record Type: Journal Article
• Authors: Patil, Sachi A.; Luu, Amanda; Vail, Daniel G.; Watane, Arjun; Levine, Russell; Hafler, Brian; Parikh, Ravi
• Is Part Of: Seminars in ophthalmology. Volume 37:Number 5(2022)
• Page Start: 657
• Page End: 660
• Publication Date: 2022-07-04
• Subjects: Cataract -- crowdfunding -- finance -- healthcare costs -- insurance -- refractive surgery; Ophthalmology -- Periodicals; Eye -- Diseases -- Periodicals; Eye -- Surgery -- Periodicals; 617.7005
• DOI: 10.1080/08820538.2022.2054664
• Languages: English
• ISSNs: 0882-0538

Abstract

ABSTRACT: Purpose: To study the nature of crowdfunding campaigns for common ophthalmologic procedures. Methods: Cross sectional, retrospective study of campaigns on GoFundMe.com from January 1st, 2021 to July 31st, 2021. All domestic and international campaigns referring to cataract and intraocular lens placement or LASIK procedures, excluding those with non-ophthalmologic conditions or campaigns for multiple conditions. Descriptive analysis of campaigns including condition, country of origin of patient, total and median value raised, total and median value sought, age of the patient, funding goal met, insurance status when possible. Total and median funds raised and sought, international versus domestic campaigns, success rate for campaigns, percent of campaigns involving children, percent of campaigns mentioning insurance. Results: 137 campaigns were identified, 67.9% (93/137) were for cataract and 32.1% (44/137) were for LASIK. 13.1% (18/137) of campaigns were international. 7.3% (10/137) campaigns were successful at reaching fing goals. Of successful campaigns, 70.0% (7/10) were for cataract and 30.0% (3/10) were for LASIK. Total value raised (in USD) was $131, 763, where $106, 593 was for cataract and $25, 170 was for LASIK. The median value sought overall was $5, 000, where the median sought for cataract procedures was $5, 000 and the median for LASIK was $4, 000. The median value raised was $395. 5.8% (8/137) of campaigns mentioned minors. 12.5% (1/8) of campaigns for children or minors successfully met funding goals compared to 7.0% (9/129) adult campaigns. The total funds raised for children or minors was $9, 224 with a goal of $41, 050. The total funds raised for adults was $122, 539 out of a goal of $775, 617. 14.6% (20/137) campaigns mentioned insurance coverage, of which 85% (17/20) were for cataract and 15.0% (3/20) were for LASIK. Premium lenses (toric, multifocal, etc.) were mentioned in 1.1% of cataract campaigns (1/93) as being cost prohibitive. Conclusions: Crowdfunding is ineffective as a means for patients to raise funds for ophthalmic procedures. The broad range of financial requests within campaigns indicates a large patient knowledge gap in cost for procedures.