NOVUS ACQ & DEV CO (OTCMKTS:NDEV) reported a featured cover publication in Cannabis Business Times. Frank Labrozzi, the CEO and Chairman, talked about the supplemental medical cannabis health program and the benefits it has for dispensaries, cultivators and patients.

The details

Novus MedPlan can be stated as a supplemental health plan that emphasizes on reducing patients’ costs for hemp/CBD and medical marijuana, and Novus CEO and Chairman stated that the program has value for patients, as well as for cultivators and dispensaries. The plan can lower patients’ costs related with alternative, naturopathic, vision, dental and diabetic care, as well as imaging and prescriptions, in addition to offering savings on medical cannabis.

Novus partners with firms to direct patient members to the firms’ products, which are shown on the MedPlan’s web portal. The company applies the health program’s discount on products, however the transaction occurs between the firm and patient directly when members perform a purchase. To sell their offerings at the discounted price, associating firms should be vertically integrated, so they can afford the discount.

The company provides its partnering firms benefits to battle this loss, such as complimentary advertising and marketing services, as well as showcase their inventory, so company’s patient members can order straightway from the dispensary.

Benefits of associating with Novus comprise member access, an instant online presence in Novus’ web shop, SEO services and many more. Labrozzi stated that Novus is looking to bring vertically integrated dispensaries, manufacturers and cultivators to its provider program. The company has found means to advertise itself and fellows of its provider plan within state guidelines, and this year it has moved from reaching almost 15,000 with its marketing to approximately 1.3 million.

It started in 2015 and works stringently on the state level, but expects to develop when cannabis becomes federally legal. The CEO of Novus added that once it becomes federally permitted, then they can start doing co-pays and reimbursements.

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Emily Gibson

Emily is a graduate from Chicago with a B.A. in Business and Economics. Emily specializes in the biotech and health care sector, but also has a penchant for medical marijuana stocks, mining, retail, and automotive stocks, as well as personal finance and macroeconomic topics of interest.