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I'm curious if there's a reason Watsi couldn't or shouldn't be a for-profit company? I like the fact they're not taking a transaction fee. But, it seems to me
by callmeed 14y ago
I'm curious if there's a reason Watsi couldn't or shouldn't be a for-profit company?
I like the fact they're not taking a transaction fee. But, it seems to me that they're also a benefit to healthcare providers, insurance companies, and big pharma (after all, the money raised is going to end up in their pockets). Aren't there ways Watsi could make money from these companies?
- chaseadam17 14y agoGreat suggestion. We hopefully will make money from them! As a non-profit, we're able to earn money just as a for-profit would. The only difference is that we are required by law to invest any profit back into the organization to ensure we're never personally profiting off of the generosity of others.
- cdcarter 14y agoNot-for-profit companies aren't prevented from making a profit, and are in fact encouraged to (how else would they sustain!?). All the not-for-profit distinction means, business wise, is that the profits must be reinvested in the organization and not distributed to the owners. This is a common misconception about not-for-profits. They are expected to make money, and overhead is important.