Mark Cuban is on a mission.
The entrepreneur and star of “Shark Tank” is decided to cut back the worth of medication, making them accessible to all and stopping monetary spoil amongst sufferers whose insurance coverage doesn’t cowl them or covers them solely in part.
He’s an investor in Price Plus Medication, the web pharmacy based by Alexander Oshmyansky. The corporate sells pharmaceuticals on to shoppers at low price.
“Our social mission of bettering public well being is simply as necessary as the underside line,” the corporate says on its web site.
“We have constructed a vertically built-in provide chain to transparently cost a typical markup on each drug we promote.”
Price Plus Medication “fills and delivers prescriptions at our price plus a set 15% margin,” it provides.
Cuban the Disruptor
If the testimonials that abound on Cuban’s Twitter account are any indication, The shoppers welcome his initiative. Listed here are some from the previous few days:
“$6.60 for my allergy meds. I’d often pay $40 out of pocket even with insurance coverage for about the identical. That is superior @mcuban @costplusdrugs,” a Twitter person stated on Aug. 22.
“Determined to attempt @costplusdrugs this week as a result of my new medical health insurance firm @AnthemBCBS denied a previous auth that my doc stuffed out for a $350/mo remedy I’ve been on for over a 12 months and was authorised by my earlier insurance coverage firm, ” one other person wrote. (ELV)
“I discovered a coupon for the med on @GoodRx nevertheless it was nonetheless going to be $110/mo at @cvspharmacy, who refused to assist me determine a solution to get the drug at a less expensive worth. I even requested @cvspharmacy if they might worth match one other pharmacy’s low cost they usually nonetheless refused,” the particular person continued. (CVS)
Scroll to Proceed
“Then I remembered that I signed up for @costplusdrugs when @mcuban introduced it. I simply positioned an order for a 3 month provide of my meds for $75 complete and could have it inside every week.”
Improper Use of Cuban’s Picture
Cuban is already strongly common from his participation on “Shark Tank” and his transformation of the Dallas Mavericks of the Nationwide Basketball Affiliation. Some customers go as far as to ask Cuban, the disruptor of the pharmacy trade, to run for president in 2024.
However together with his reputation even have come disadvantages.
One is that some individuals are utilizing Cuban’s picture and particularly his efforts within the pharmacy trade to rip-off individuals on social media. For instance, somebody is hawking a product meant for males they usually’re utilizing Cuban’s picture to lure individuals on Fb.
In a photomontage we see somebody who is meant to be Cuban holding a field of a faux product. “It’s faux,” the billionaire warned on Aug. 21. “I get a steady move of emails from individuals asking why they get double charged, or why it hasn’t labored for them.”
The billionaire is especially going after Fb (META) for permitting the rip-off to flow into despite the fact that it violates Fb’s content material coverage. He additionally calls out American Categorical, (AXP) Visa (V) and Mastercard (MA) as a result of the scammers settle for their playing cards as technique of cost.
“But neither @Meta, nor @Mastercard, @visa or @AmericanExpress, which can be presupposed to have fraud safety will do a rattling factor!”
“The subject of alleged or fraudulent superstar endorsements is one thing we usually monitor for when our model is referenced or supposedly made out there to help purchases,” a spokesperson for Mastercard informed TheStreet in an emailed assertion.
“In these situations – and after we obtain referrals or allegations of doubtless unlawful or illegal content material out there for buy with our merchandise – we examine the claims. If the claims are substantiated, we take instant motion,” the spokesperson added.
American Categorical and Visa did not instantly reply to a request to remark.
Meta didn’t reply to requests from TheStreet both.