The Mark Cuban Cost Plus Drug Company
Mark Cuban was horrified by how many Americans struggle to afford medications, so he’s doing something about it.
Sixty-two percent of American adults are taking at least one prescription drug and a quarter take four or more prescription medications. Many people struggle to pay for their meds, which are 250% more expensive in the US than other OECD nations. And we know that cost is one of the major barriers for medication adherence.
Recently, billionaire investor, Dallas Mavericks owner, and Shark Tank star Mark Cuban launched an online pharmacy for generic drugs that offers steep discounts over traditional pharmacies. The Mark Cuban Cost Plus Drug Company cuts out the middle-men and charges a transparent and simple price which is equal to the manufacturers' price plus a flat 15% markup.
In this episode, we got a chance to learn more about Mark’s vision for a more equitable healthcare system.
Topics covered:
The role Pharmacy Benefit Managers (PBMs) play in the high cost of prescription drugs
How administration costs make up 21% of healthcare costs every year
Why he decided to start, and fund, this company — and why no one has done this before
What medications they plan to offer in the future
Why they focus on cash-pay patients and don’t take insurance
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