Shameful and Disgusting
And no, I'm not referring to Fred Durst.
It will shock no one to learn that drug manufacturers gouge, well, everyone. And big-box retail pharmacies aren’t any better. In my experience, they’ve even tacitly supported this kind of behavior.
Whenever I’ve grumbled about the cost of a prescription, I’ve, more frequently than not, been met with a defensive: “Well, it would’ve cost $xxx more without insurance.”
"Well, I have insurance. Why would I care about what it might cost?”
Last week, I was picking up some prescriptions, and the guy at the counter kindly asked me: “Do you have insurance?”
This time, I was defensive and replied" “Yeah, why?” and jammed my insurance card in his face.
Sweetly, he said: “It’s just that these are expensive.”
"Oh, sorry. How expensive?” He showed me, and I did the quick math… over three hundred dollars. “Oh no, that can’t be correct.”
After speaking with the person who deals with that, it turned out to be correct. I ate the cost. I needed the medicine.
In the spirit of full disclosure, one was a 90-day prescription, but still… stick around.
Did you know that Mark Cuban has a drug company? Well, I didn’t.
It’s called Mark Cuban Cost Plus Drug Company (or colloquially Cost Plus Drugs).
When I reviewed the same over three hundred dollar prescriptions on that website, the same 90-day supply would cost… wait for it, $13.10 (see pic).
And that is an estimate WITHOUT INSURANCE!
Over three hundred dollars WITH insurance at a big box retailer and $13.10 for the same prescription without insurance at Cost Plus Drugs. Go ahead, let that marinate.
That price difference is disgusting.
I suspect some may think, “Security, security, SECURITY!! How can I trust Mark Cuban with my information?”
You trust your insurance company and big box retailers with the same information. Do you think they aren’t mining your data? And if my data is gonna be mined and used for whatever reason, I’d at least like to benefit from it.
So, do I trust Cost Plus Drugs any more or less? No, but at least I’m getting a benefit from it.
Considering this is America, and it’s healthcare-related, naturally, it’s gonna be convoluted. Some arcane details play into the costs. I’m not eloquent enough to explain them. This Fortune article does an excellent job of explaining those details and the pros and cons.
Is Cost Plus Drugs perfect? Nope.
Does it cover everything? Nope.
It only covers generic drugs.
Of course, you can’t get any Schedule IV drugs (like Xanax) or Schedule II drugs (like Hydrocodone or Adderall). And that makes sense.
You can think what you want about Mark Cuban, and I have my own thoughts, but he’s not dumb. This isn’t some altruistic endeavor; he wouldn’t do this unless he thought he could make money—a lot of money.
It’s nice to see that someone in his position genuinely believes that the profit motive can drive innovation AND market disruption.
Capitalism doesn’t need to preclude positive outcomes for consumers - you know, the way it’s supposed to work.
I’ve mentioned this Mark Cuban venture to more than a few people who were unaware that it existed.
Media coverage of the company is a bit on the sparse side. The cynic in me understands why.
Do I think Cost Plus Drugs will change the healthcare industry? Nope.
But it’s a step in the right direction.
And that matters.
Heathcare is a right.
Not a privilege.