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The Mark Cuban effect on drug pricing
December 7, 2023
Contributed by: Bill Russell
Mark Cuban launched an online pharmacy in 2022, pricing medications with manufacturing fee, 15% markup, shipping and handling. Subsequently, Express Scripts and CVS adopt similar approaches. U.S. drug prices are averagely 2.5 times higher than in 32 countries, with complex pricing methods. Pharmacies negotiate prices with distributors and pricing models often include markup and handling fees. With rising drug costs, many health system pharmacy leaders fear cutting services. Cuban, Express Scripts, CVS aim for more transparent pricing, while Cigna Group's Express Scripts' ClearNetwork, CVS's CostVantage and Caremark's TrueCost, UnitedHealth Group's Optum Rx, and Elevance Health plan to offer cost-based services for drugs, aiming for price transparency.
Beckers Hospital Review