Mark Cuban’s New Venture Will Dramatically Lower Drug Costs Nationwide
Prescription drugs in the U.S. have been a problem for years.
Millions of Americans struggle to afford their medications each year. Some people might even stop paying their essential bills or go abroad just to get the treatment they need to survive. However, with Mark Cuban’s Cost Plus Drug Company, average Americans will finally have a chance to buy life-saving prescriptions without breaking the bank.
Let’s explore what the business tycoon’s newest business venture offers and how it’ll transform our health industry for the better.
Are Prescription Drugs Expensive In The U.S.?
Pharmaceutical companies set average prices a whopping 278% higher than in other countries.
There are many reasons why companies do this, but many stem from a lack of regulation and other loopholes that let them squeeze out as much profit as they can without consequences. No matter the reason, this system forces Americans to pay sky-high prices for everyday medications—or stop taking them altogether.
How Mark Cuban’s Cost Plus Drug Company Will Change This
Mark Cuban’s Cost Plus Drug Company is a game-changer in the pharmaceutical industry. Here are three main ways it’ll make purchasing meds easier and cheaper than ever before:
Cutting Out Third Parties
Traditional drug pricing involves Pharmacy Benefit Managers (PBMs) who negotiate prices between drug manufacturers and pharmacies. These companies will often mark up the final price before it hits the market, making buying medications a lot more expensive than they need to be.
However, those third parties are out of the picture when you buy your medication from Cost Plus Drug Company. It directly partners with manufacturers to drastically reduce the price of medicines and help you save money.
Transparent Pricing
The price of meds can change based on your location or health insurance plan.
However, transparency is at the heart of Cost Plus Drug Company’s model, and it offers clear pricing with no surprise markups.
Your prescription’s cost will be determined by adding the price of each pill and the 15% markup. For example, a pill costs roughly one cent to make.
To find out how much you pay per pill, simply:
1) take the original supplier’s price
2) multiply it by 15%
3) round up to the nearest cent
4) add the original price and 15% markup (up to one cent) together
In this situation, you’d pay $0.02 per pill.
Once you have your per-pill price, multiply the pill’s cost by the amount you need, then add a flat fee of $10 for shipping and labor fees like this:
$0.02 x 30 + $5 + $5 = $10.60 per prescription
A straightforward pricing model ensures you know what you’re paying for and why. While Cost Plus Drug doesn’t accept Medicare due to their unique pricing model, they claim they are cheaper than Medicare copays, even at out-of-pocket costs.
Making Medicine More Accessible
By offering affordable prices and transparent costs, average Americans don’t need to sell their homes or, worse, to get the medications they need.
If this becomes the norm, everything from lifespan to public health could drastically improve, especially if you suffer from a chronic illness and need medication to stay healthy.
Types Of Medication Cost Plus Drug Company Carries
Cost Plus Drug Company has over 1,000 different generic medications and a handful of branded ones that cover almost every medical condition, including:
- High Cholesterol
- Diabetes
- Heart Health
- HIV
- Asthma/COPD
- Multiple Sclerosis
- And more
The list of medications is also expanding constantly, ensuring everyone can benefit from the lower prices.
How To Sign Up And Order Your First Prescription
Signing up for Cost Plus Drug Company is available to anyone 18 and older. Here’s what you need to do to get started:
- Visit their website and find the medicine you’re looking for.
- Open an account and fill out your personal information.
- Speak to your doctor or the company’s medical provider about the prescription process and have them fill it out.
- After you get the green light, you can finish your transaction and get your meds in a few short days.
Once you set everything up, you can easily manage your medications, place orders, and order refills once you finish over 50% of your prescription.
The Bottom Line
Mark Cuban’s Cost Plus Drug Company will revolutionize the medical industry as we know it.
By cutting prices and simplifying the ordering process, this business will be the perfect solution to an ongoing issue Americans have dealt with for decades.
If successful, Mark Cuban’s platform enables millions of Americans to access the medications they need to stay healthy.
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