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Mark Cuban's Online Pharmacy Could Save Americans Billions

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A new study has indicated that Mark Cuban's online pharmacy could have saved Americans millions of dollars, who overpay for their prescription and generic medications.

Ana Kasparian and Wosny Lambre discuss on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://thehill.com/policy/healthcare/3530739-medicare-could-save-3-6b-buying-generic-drugs-at-mark-cuban-pharmacys-prices-study/

"Medicare could have saved up to $3.6 billion in 2020 if it bought generic drugs at the prices paid by billionaire entrepreneur Mark Cuban’s drug company, according to a new study.

The study from researchers at Brigham and Women’s Hospital in Boston, published in the journal Annals of Internal Medicine, suggests inefficiencies in the way Medicare currently pays for generic drugs.

The Mark Cuban Cost Plus Drug Company, launched online at the start of this year, seeks to simplify the convoluted supply chain for drugs and offer savings to consumers. It offers commonly used generic drugs at a 15 percent markup, plus a $3 dispensing fee and $5 shipping fee. It does not accept insurance, meaning patients pay out of pocket.

That simplified model offers significant savings, the study found. The $3.6 billion in savings amounts to 37 percent of the $9.6 billion that Medicare spent on the 89 drugs examined in the study. There were savings to be had on 77 of those drugs, and 12 with no savings."

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220621__TB01
Category
Europe
Tags
220621__TB01, News, Politics
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