A Solution To All Of CME’s Funding Problems [UPDATE]

  1. Back in April I wrote a blog post about the potential for crowdfunded CME as an alternative to traditional funding options.
  2. In it, I ask the question: “What if we had a Kickstarter style platform for CME funding?”

    I went on to add, “Do I think there is some possibility of a Kickstarter-esque CME funding website that allows HCP’s, advocacy groups, societies, etc., to contribute to activities they have an interest in and would help CME providers fill-in the gaps left by traditional funding sources? Definitely.”

    Well, it appears that there may already be something in place that fits the description above. Allow me to introduce you to MedStartr.

What is MedStartr? From their website:

“MedStartr is a new way to fund healthcare projects, startups, and innovations that improve healthcare and help people live longer, better lives. We believe that:

  • A great healthcare solution, research project, device, or idea that can improve health can spread around the world very very fast.
  • Patients and Physicians are the key to the Solution and they will back projects they believe in with their time, energy, and wallets.”

Naturally, I was curious as to whether they would allow funding of projects focused on the education of healthcare providers. A quick scan of the website didn’t show any current projects of that nature, but the website is till in the beta stage, so I felt it was worth pursuing further. Fortunately, this past Monday evening I just so happened to stumble upon a Twitter chat on “Healthcare Crowdfunding” (#HCCF) which was being moderated by Medstartr (@MedStartr) themselves (note: it’s much easier to “stumble upon” great resources like this if you are on Twitter. [hint hint]). Fantastic! I took the opportunity to ask them and the rest of the group about their thoughts on crowdfunded CME.

6 responses to “A Solution To All Of CME’s Funding Problems [UPDATE]

  1. Definitely an interesting concept, Derek. I dug around on the Internet for details on Medstartr. You may want to get in there before they institute an “equity model,” which will make this grassroots funding platform more complicated. See comments at http://techcrunch.com/2012/07/11/medstartr-launch/ I’m game if you want to talk.

  2. I think it’s possible. The biggest challenge would be to make a CME activity sound intriguing and interesting and novel and life-saving enough that the public would want to fund it. Seems like it should work in concept though. Go for it!

    • Yes, definitely agree. I wouldn’t want to go into this with a standard satellite symposium or talking head webcast. Would need to be something original and creative.

  3. It is an interesting concept. I think that for CME you would have to create 1 to 2 projects and say they are the start of a series of future projects but could be used as a template for what the future projects would look like.

    This would allow the “crowd” to see the quality, style and content of a crowd funded CME lesson. I have seen that many HCPs (including myself) will pay a nominal for high-quality content (non-biased) that improves the care they provide their patients.

    I would go for it Derek. I think there will be some costs up front to develop the first couple of lessons but it may lead to funding for a whack of future projects.

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