I read that something like 93% of donations go straight to the patients and it has great reviews in sites like guidestar etc , but on the other hand, after i read the Seeking-alpha and Barron's Qcor-CDF story, and specially the way CDF published only part of its 990 file and the story of Mike Banigan taking money to his pocket through his subsidiaries, i don't really sure if it is a short interest story or the fund really is corrupt? From your experience - what do you think?
well, after I read this article: http://seekingalpha.com/article/1760862-questcor-and-the-chronic-disease-fund-is-free-drug-truly-free I think CDF for Banigan is a combination of good will and good money...
When I first heard about this organization, I thought it was too good to be true. I was hesitant to even get involved in something like this, especially since I had insurance and my insurance said they would cover my medication. But, when it came down to it, even though my insurance said they covered the treatment I needed, the fine print was that I had a $4000 deductible to meet before they would cover even part of it. And then, even after that was met, I would still be responsible for a 5% copay, which amounted to $300/month. I thought, "No way I would start this! They're nuts." But, the doctor gave me an ultimatum: get on the chemo to save my life or die by next winter. I put my faith in this company and I can honestly say that I was pleasantly surprised. Whereas getting government assistance requires you to jump through dozens of hoops or sell your first born to get some financial assistance, all I had to do was fill out some paperwork, and I was approved! I couldn't believe my luck. I wasn't living on the streets, which meant I didn't qualify for government aid, but I was the middle-class, between poverty and financially well off. Now, with help from CDF, I pay $10 a month for my chemo and the prognosis of my cancer going into remission is looking very good according to my physician. I wouldn't be an honest person if I didn't credit the majority of my recent good fortune to that one decision to apply with this organization. One day, I hope I will have the chance to help others as CDF has helped me. I read the article about Questcor and CDF, and it was an interesting read. I don't consider myself particularly well-educated or smart, but the article seemed a lot like a witch hunt that started when a couple of individuals were scorned when they attempted to find something juicy to write about in order to launch their careers. But regardless of my interpretation of the article, here's the way I see it: the fact that the charity gives 91% of their donations to the people who need it (trumping more popular and publicized charities) and that I am one of the thousands of patients whom help, they could raise money pole-dancing for all I care, as long as they continue to provide their much-needed service. I would, however, raise the question with the author (s) of those articles, inquiring what exactly he is doing in order to help these patients. I would like to see him take on the monster of offering copayment assistance at even a fraction of the consistency CDF does. It's easy to sit back and point out the mistakes over others, but not so easy to do it yourself and open yourself up to that kind of criticism. Just my two-cents.