Mark Cuban’s New Prescription Drug Website Could Save Lives
American billionaires use their unimaginable wealth in all sorts of ways. Some of them are trying to figure out how to get humanity to Mars (or, more specifically, how to get themselves and their other wealthy friends to Mars). Others fall down the cryptocurrency rabbit hole. But the precious few seem more interested in solving the more immediate problems we face right now and in the case of Mark Cuban, that means life-saving prescription drug costs that are beyond the ability of many Americans to afford them. pay.
To deal with this crisis, Cuban launched the Mark Cuban Cost Plus Drug Company (Cost Plus). As the shark tank The Dallas Mavericks mogul and owner explained on PBS Newshour that Cost Plus reverses the current drug pricing model, saving consumers hundreds, if not thousands, of dollars.
“Our approach at Cost Plus Drugs – that is, we’ll show you our actual cost, mark it up 15%, add $3 pharmacy processing fee and $5 shipping, and that’s is all you pay for – that simplification and transparency has really had an impact,” Cuban told PBS’s Geoff Bennett.
People looking for cheaper alternatives to high-priced prescription drugs have an unexpected new option – an online pharmacy founded by @mcuban. @GeoffRBennett spoke with Cuban about his direct-to-consumer company, Cost Plus Drugs. pic.twitter.com/cMvCNgWzSp
— PBS NewsHour (@NewsHour) June 5, 2022
To keep things as cheap as possible, Cost Plus don’t spend money on advertising and relies entirely on word of mouth. Over the past few weeks, that word of mouth has started to take off in a big way, as new users have discovered that Cuban’s service really works. “I just received a three month supply of two of my prescriptions with shipping for a total of $20,” sharing. “With the insurance co-pay, I was paying $200 for [a three-month’s supply] before.”
“My mom’s monthly prescription is only $14, down from $270 before,” another wrote.
There are hundreds of stories like these, many of them shared by Cuban on his personal Twitter feed. A man share that her insurance didn’t cover her medication, which was costing her $150 a month, until Cost Plus dropped it to $8.70. Another’s 90-day supply was $310, until Cost Plus brought it down to $25. Forbes noted that imatinib, which treats leukemia, costs $47 per month at Cost Plus. In a conventional pharmacy, the same amount costs $9,657.
Now the business has a lot of downsides. For one, although it is constantly adding new drugs, it is still a fairly limited selection and many users may find that the drugs they need are not available. On the other hand, Cost Plus does not accept insurance, which means people covered by insurance should check its prices against whatever their coverage can get them in their pharmacy. In general, according to an analysis by MedPageToday, Cost Plus is likely more effective for people who don’t have medical insurance or who have high deductibles that they don’t regularly meet.
You can do a little research on Cost Plus right now, see if your prescriptions are available, and compare those costs to what you’re currently paying. Cost Plus certainly has a few bugs to iron out, but many users find it worth it by current pharmaceutical industry standards.