Mark Cuban Lays Out More Details about How He’s Disrupting Drug Pricing
It’s no secret that billionaire Mark Cuban has his mind and assets focused on disrupting drug pricing in the U.S. But during a recent talk, Cuban shared new information about what his Cost Plus Drugs company is doing with payers and pharmacists.
Cuban shared the following information that raised some interesting questions earlier this month at the Becker’s Hospital Review conference:
Cuban said the company has been in talks with the Centers for Medicare & Medicaid Services (CMS) about Medicare drug pricing and sent CMS a price list on April 3. Generic specialty drugs like imatinib, which is used to treat some cancers, were discussed. Last June, a study published in the Annals of Internal Medicine showed that CMS could have saved up to $3.6 billion in generic drug costs if the program paid the same prices as Cuban’s online drug company.
Moving Beyond Generics
Cost Plus Drugs is looking to expand its reach beyond generics. Although Cuban's company now has 1,100 generics, it only has four name-brand products. Cuban made it clear he wants to add more name-brand drugs in all areas but controlled substances and specialty drugs not cleared for mail orders.
Expanding Patient Access
The company is trying to broaden patient access to mail-order drugs via an affiliated network with independent pharmacists and retail grocery chains. Patients would be able to pick up their prescriptions at local outlets rather than having to order their scripts by mail.
Collaborating with Payers
Cuban's company continues to pursue more collaborations with payers after its initial payer venture with Capital Blue Cross. Capital members can use their insurance cards on the Cost Plus Drugs website and be reimbursed or put the cost toward their deductible, if eligible, by submitting a claim.