Summary
Mark Cuban Discusses Cost Plus Drugs at Becker’s Hospital Review Meeting
Jakob Emerson, Insurance Editor at Becker’s Healthcare, recently sat down with entrepreneur and investor Mark Cuban to discuss his latest venture, Cost Plus Drugs. During their conversation at the Becker’s Hospital Review 13th Annual Meeting in Chicago, Cuban shared some key takeaways.
CMS Negotiations
One of the main topics of discussion was Cuban’s ongoing negotiations with the Centers for Medicare & Medicaid Services (CMS) regarding drug pricing for Medicare beneficiaries. He hopes that Cost Plus Drugs will have a positive impact on reducing drug costs for this population.
Expansion to Brand-Name Drugs
Cost Plus Drugs currently offers generic medications at cost, plus a small markup. However, Cuban revealed that they are working on expanding their offerings to include brand-name drugs as well. This move will allow even more patients to benefit from their pricing model.
Network of Independent Pharmacies and Retail Grocery Chains
In addition to expanding their product line, Cost Plus Drugs is also working to create a network of independent pharmacies and retail grocery chains to make their medications more accessible. By partnering with these organizations, they will be able to reach even more patients and offer them affordable medications.
Cuban’s Motivations
Despite the potential for profit, Cuban reiterated that his primary motivation for starting Cost Plus Drugs was to make a positive impact on the healthcare system. He is passionate about reducing drug costs for all patients, and hopes that his company will help to achieve that goal.
Jakob Emerson was thrilled to have the opportunity to speak with Cuban about this exciting new venture. He thanked Scott Becker and the team at Becker’s Healthcare for setting up the meeting, and is excited to see what the future holds for Cost Plus Drugs.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 04/18/2023 and can be listened here.
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