Shark Tank's Mark Cuban Dives into Generic Drug Market
By Alex Keown / BioSpace / /
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Billionaire entrepreneur Mark Cuban, best known as the owner
of the Dallas Mavericks and an investor on the ABC business
reality series “Shark Tank,” is diving into generic drugs
with a new startup, dubbed Mark Cuban Cost Plus Drug
Company.
The new company is dedicated to producing low-cost versions
of high-cost generic drugs. On its website, the new company
promises to provide “radical transparency” in how it prices
the medications it sells.
“We will let everyone know what it costs to manufacture,
distribute, and market our drugs to pharmacies. We add a
flat 15% margin to get our wholesale prices. This makes sure
we remain viable and profitable. There are no hidden costs,
no middlemen, no rebates only available to insurance
companies. Everybody gets the same low price for every drug
we make,” the company said on its website.
How Biden’s Proposed
Paid Leave Would Work
By Claire Cain Miller / The New York Times / /
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More Americans may soon be able to take more than three
months of paid leave from work for sickness or to care for
children and family members during the pandemic, if Congress
approves a plan proposed by President-elect Biden.
Last spring, the first coronavirus relief package included
paid leave. But a limited group of workers was eligible, and
it expired in December. Now, as part of a wide-ranging plan
to respond to the pandemic, the incoming administration has
proposed reinstating and significantly expanding it.
What kind of reasons can it be used for? Mr. Biden proposed
offering paid leave to people who are:
Sick with Covid-19 symptoms
Quarantining because of Covid-19 exposure
Needing time off to get the vaccine
Carering for family members who are sick with Covid-19
symptoms
Caring for children whose school or day care center is
closed because of the pandemic
Caring for older relatives or adult dependents whose
long-term care facility is closed because of the pandemic
Employee benefits tech
firm Accolade buys telemedicine startup for $460M
Jackie Drees / BECKER'S HOSPITAL REVIEW / /
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Accolade, a healthcare technology and benefits firm, will
acquire telemedicine startup 2nd.MD to increase its ability
to give users virtual access to second opinions, CNBC
reports.
Accolade is close to closing the $460 million deal, people
with knowledge of the situation told CNBC. Half of the
transaction will be in cash and the rest in Accolade shares,
a portion of which depends on revenue targets.
Founded in 2011, the telemedicine startup automates the
process of getting second opinions so they can happen within
days over video or phone instead of weeks for in person.
Dates for 2021 National
Medicare Supplement Conference Reset
AAMSI / /
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"The postponed (2020) Medigap industry Summit will take
place September 8-10, 2021," announced Jesse Slome, AAMSI's
director and organizer of the industry conference. The site
remains the Schaumburg, IL Convention Center located a few
miles from O'Hare International Airport.
"We are optimistic that people will be traveling by
September and they'll be looking forward again to
face-to-face exchanges," Slome notes. "Chicago is both large
and easy to get to. People will have had their fill of Zoom
calls and want the old fashioned way of bumping elbows and
networking with their peers."
The industry conference brings together over a thousand
Medicare insurance professionals. As part of the event, the
Association offers a completely free day that consists of
sales sessions and no-cost access to the industry's exhibit
hall.
5 Medicare benefits
that may surprise you
By Jan Dubauskas / FOXBusiness / /
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Yes! Medicare modernization is working to advance its
approvals of innovative therapies and technologies,
recognizing that Medicare needs to move more quickly to keep
up with the speed of innovation. And while Medicare
continues to work toward that goal, it does have a few
surprises up its sleeve – they have worked to provide a more
robust program that addresses the real needs of Medicare
beneficiaries, while also maintaining a modern view as to
what benefits consumers are seeking.
Here are five benefits you should know about:
1. Opioid Use Disorder
2. The Give Back Benefit
3. Weight Loss Counseling & Nutrition Therapy
4. Second Medical Opinion
5. Acupuncture
RxSpark launches
Ignitor – its disruptive affiliate program that is highly
relevant for the insurance industry.
PRNewswire / /
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The innovative prescription savings company, RxSpark today
announced the launch of its Ignitor Partner Program to the
insurance industry. At a time of economic difficulty, the
RxSpark platform is ideally positioned to help consumers
afford their medications, and give Insurance Brokers a
commission-based recurring revenue stream. The affiliate
program allows Insurance Brokers to become Ignitor Partners,
providing them the opportunity to harness their networks and
earn commission by promoting RxSpark’s next generation
pharmacy savings program.
The Covid-19 pandemic has caused massive disruption, with
millions of people now unemployed and uninsured. Many have
lost their company sponsored health and pharmacy benefits as
companies are forced to cut costs. Amid this turmoil,
Insurance Brokers are also feeling the effects as their
customers struggle.
RxSpark has created the Ignitor Partner Program, which is
FREE to all Insurance Brokers. The program is ideally
positioned for this difficult time, helping both Brokers and
consumers. RxSpark users can save up to 80% off their meds;
and for the Brokers, it is a great way to develop and
monetize their networks, which could earn them $40,000 plus
a year, every year.
The 38 FinTech funding
rounds raised last week highlight the success of payments
companies through the pandemic
FINTECH GLOBL / /
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While the payments industry has reason to celebrate, last
week also proved a boon for 38 FinTech companies closing
investment rounds.
The FinTech industry returned from the holidays with a bang
last week. In total, 38 companies completed funding rounds
in the past seven days and nine out of those raised cash
injections north of $100m.
Companies innovating in the payments space and the FinTech
ecosystem proved to be among the big winners last week.
Home Service Software
Brand Porch Group Announces Acquisitions; Expansion into
Insurtech
By Samantha Hurst / CROWDFUND INSIDER / /
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Porch Group, a U.S.-based vertical software company focused
on the home services industry, recently announced it has
acquired four companies and has begun to expand into
insurtech. Founded in 2012 as an online home improvement
network, Porch claims it has grown into the industry-leading
partner for the home by connecting homeowners with qualified
professionals.
The companies acquired by Porch Group are the following:
Homeowners of America (HOA): an insurance carrier hybrid
with “high margins and a capital-efficient” reinsurance
strategy, which limits retained risk. The company currently
operates in six states
V12: A fully scaled software-as-a-service (SaaS) marketing
and data platform for brands to connect with and engage
consumers at key purchasing decisions points
PalmTech: A software company for home inspectors targeted to
smaller home inspectors
iRoofing: Provides an all-in-one SaaS application for
roofing contractors bundled in a monthly or annual
subscription.
It’s Past Time For
Employers To Take Financial Wellness Seriously
Scarlett Sieber, Contributor / Forbes / /
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Financial wellness has long been a topic of conversation at
financial institutions and fintechs alike. While the
definition varies depending on who you talk to, 2020 has
pushed financial wellness front and center. We know there is
a direct correlation between financial health and mental and
physical health, and as such, all parts of the ecosystem
need to start prioritizing the financial side of it.
While unemployment rates increased in response to the
pandemic, employers who want to retain their talent and
attract the best talent moving forward, should think about
how to care for their employees’ holistic financial health.
Luckily, employers aren’t alone, there are a myriad of
fintech startups and the like focused on the space.
Focus on mental
wellness in 2021 with these five meditation apps
BY STACKCOMMERCE / THE HILL / /
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It's often a useful method, whether you're working on a
broader strategy or just need tools to take a break
throughout the day. Yet finding time to meditate and
effective guidance to do so can be a challenge. These five
apps can help you make a change by putting mindfulness tools
in your pocket and fitting your practice into your schedule.
Welzen meditation app (lifetime subscription, $29.99, 80%
off)
Relax Melodies meditation app (lifetime subscription,
$79.99, 68% off)
Unplug Meditation (one-year subscription, $39.99, 43% off)
Rootd Anxiety & Meditation (one year subscription, $25.99,
56% off)
Omvana Meditation (one-year subscription, $39.99, 33% off)
Like Lemonade? Here Are
3 Small Insurance Tech Stocks to Add to Your Watchlist
New tech-enhanced insurance companies have been popping up
fast and furious over the last year.
Nicholas Rossolillo / The Motley fool / /
Read Article
2020 was a record-setting year for IPOs, and among the new
stocks were several high-flying tech-enhanced insurance
companies. Lemonade is perhaps the best-known, and it was
one of last year's hottest new stocks. But a number of other
insurance outfits making their public debuts are also worth
exploring. Three to put on your watchlist are Clover Health
Investments (NASDAQ:CLOV), GoHealth (NASDAQ:GOCO), and Root
(NASDAQ:ROOT).
Clover Health: A SPAC goes the way of Medicare
GoHealth: An online marketplace for shopping health plans
Root: Auto insurance gets a mobile upgrade
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