How Mark Cuban's Cost Plus Drugs is Transforming the Pharma Industry [The DaVinci Hour Podcast Ep26]

[@envisionwithjustin]

great podcast. just ordered my meds using mark cuban cost plus drugs. saved $259.

[@DaVinciAcademyMed]

Thank you! That is awesome! Great to hear!

[@WillieCleo]

Mark you are a HERO!!!

[@doctorricky]

Freaking awesome video. So happy to see Me Cuban attacking this issue. It’s insane what meds cost.

[@DaVinciAcademyMed]

Thank you @Doctor Ricky ! Agreed, the prices are out of control!

[@anointedbyaccident]

"We're trying to move fast and break things." lol. Good stuff.

[@DaVinciAcademyMed]

Hahaha that was a great line!

[@anointedbyaccident]

@@DaVinciAcademyMed It was.

[@jaagofficial]

that was amazing!

[@DaVinciAcademyMed]

Thank you! So glad you liked the interview!

[@dragonore2009]

One of the harder drugs to get in the program would probably be biologics, I don't see those being introduced anytime soon, though I wish someone would ask Mr Cuban if they are working on getting biologics in.

[@DaVinciAcademyMed]

Very interesting thought. I agree, biologics would be difficult due to the cost and the complex nature of their production, but if Cost Plus Drugs could offer those eventually, that would provide significant benefit to many patients and improve access to those therapies.

[@LegacyKeysMusic]

awesome!!!

[@DaVinciAcademyMed]

Thank you! So glad you liked the episode!

[@dianaa1549]

He really shouldn't start taking insurance... That will inevitably raise his prices to continue operating. There is so much that goes on in the background when it comes to processing claims via insurance.

[@DaVinciAcademyMed]

Great point, insurance makes pricing drugs much more complicated. I believe for that reason among others Cost Plus Drugs does not take insurance. I did not get the sense from him that there are any plans to start taking insurance. He often stated that their prices are lower than many patient's insurance co-pay.

[@dasi_67]

@@DaVinciAcademyMed he says at 5:48 "we're on software to interface to insurances."

[@dasi_67]

@@DaVinciAcademyMed and then says at 6:26-ish "we WILL work with insurance companies."

[@allisonwaters716]

So basically he is competing with other online pharmacy companies and putting them out of business by using his name and popularity

[@DaVinciAcademyMed]

Thank you for your comment. At 13:45-15:25 Mark discusses that CostPlus Drugs does not acquire their medications through pharmacy benefit managers (PBMs) which allows them to offer them at much lower prices. The competition is still using PBMs which inhibits their ability to offer the lowest prices possible. Mark is using his name and popularity to promote it so they do not have to spend any money on marketing.

[@WillieCleo]

Wonder if something can be done about cost of Xrays.