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What are premium cost drugs? How he sells cheaper drugs

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  • shark tank famous investor Marc Cuban recently launched a new pharmaceutical company that provides affordable drugs to uninsured Americans, as well as those who may be underinsured.
  • The service, called Mark Cuban Cost Plus Drug Companyhas continuously added generic drugs to its medical storefront.
  • Currently, over 700 different types of prescription drugs are available to treat a myriad of conditions and symptoms.
  • Cuban has started a larger conversation about the medical industry via social media, where many fans and current customers are talking about how this company can disrupt America’s healthcare system.

    Having earned a reputation as a business mogul over the past decade and more, shark tankit is Marc Cuban caused a stir in the healthcare industry, which surprised many fans of the series, while being equally thrilled to see it.

    A longtime owner of the Dallas Mavericks, Cuban has certainly branched out into almost every industry imaginable as an investor (both on-screen and off!). But industry analysts were surprised to learn that Cuba unveiled its fully realized project Mark Cuban Cost Plus Drug Company (MCCPDC) in January 2022, because it’s a business model that reverses the current model of the pharmaceutical industry – and ends up offering a service that could help Americans save significantly on necessary treatments.

    Cuban recently appeared on PBS news weekend program to explain the concept evolved from a former nonprofit and how the business works, which he says is an “opportunity” to disrupt the prescription drug industry.

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    “Our approach at Cost Plus Drugs – that is, we’ll show you our actual cost, mark it up 15%, add $3 pharmacy processing fee and $5 shipping, and that’s is all you pay for – that simplification and transparency has really had an impact,” Cuban told PBS’s Geoff Bennett.

    And many of the new brand’s first customers have taken to social media to share this new approach to selling drugs that is actually helping them.

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    “I just received a three month supply for two of my prescriptions with delivery for a total of $20,” said one Twitter user. recently shared. “With the insurance co-pay, I was paying $200 for [a three-month’s supply] before.”

    “My mom’s monthly prescription is only $14, down from $270 before,” another tweeted. There are hundreds of similar Tweets directly shared on Mark Cuban’s account, where the shark tank the investor shared more about why he started CostPlus Drugs in the first place.

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    Of course, Cost Plus drugs from Cuba are far of perfect – there are valid criticisms of how the prescription drug dispenser does not accept any form of insurance, which means some Americans may still be better off using their full coverage at a conventional pharmacy, such as indicated at the beginning Forbes cover. But more importantly, Cost Plus Drugs faced some challenges in this area. it is limited in the number of generic prescription drugs it can currently offer. Read below to learn more about how Cost Plus Drugs works for customers and what types of drugs you can find at an affordable price.

    What types of medications are available at Cost Plus Drugs?

    At launch, Cost Plus carried about 100 drugs, all of which are generic in nature and not brand names that patients may be familiar with. Reviewers noted that the offerings were extremely limited compared to traditional pharmacies and even digital services like GoodRx. But the Cuban service periodically adds new low-cost generic drugs to its list and have shared they “continuously” add new options as they become available.

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    According to its website, Cost Plus currently stocks more than 700 generic drugs manufactured by its network of suppliers, designed to provide treatment for a myriad of chronic diseases – from diabetes to multiple forms of cancer, from hypertension and high cholesterol, and even complications stemming from arthritis to allergies. Cost Plus maintains a comprehensive list of the conditions they serve as well as a searchable database for generic versions of brand name medications you are currently taking.

    According ForbesInitial review of Cuba’s drug service, prices of prescription drugs sold by Cost Plus were often 10 times lower than traditional offerings; a particular topic of discussion was imatinib, a drug for the treatment of leukemia, which typically retails for $9,657 for a month’s supply but is available through Cost Plus for just $47 per month.

    How is Cost Plus able to offer drugs at these prices? It depends on the Cuban pharmaceutical brand not relying on insurance plans and so-called pharmaceutical benefit managers to determine a supply chain, and therefore its prices.

    Extensive analysis published by MedPageToday suggests that certain medications may end up costing an individual more than Cost Plus if they have low health insurance deductibles or reach those deductibles quickly at the start of the year. If someone has a chronic condition that requires frequent clinic visits, for example, a low-deductible health plan could soon begin to cover 100% of prescription drug costs.

    Those who are uninsured will certainly find these drugs less expensive – as well as patients who have high deductibles that are not respected and who rarely use health services, because forgoing payment of insurance deductibles means you will spend less generally.

    How to Buy Discounted Prescriptions at Cost Plus Drugs:

    Before signing up to buy medication from Cost Plus, you should verify that your prescription is one of the options currently available on the site. If your medicine is not listed, you can submit a request for the brand to consider adding the supplier to their network on the same web page.

    And just like you would with any other prescription provider or pharmacy, you’ll need to ask your primary healthcare provider to fill a prescription and submit it directly to get started with Cost Plus.

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