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MC
Mark Cuban
03/30/24
@ Lex Fridman
When I started Cost Plus Drugs, I realized I needed to understand how I was paying for healthcare for my employees and their families.
Video
LF
Mark Cuban: Shark Tank, DEI & Wokeism Debate, Elon Musk, Politics & Drugs | Lex Fridman Podcast #422
@ Lex Fridman
03/30/24
Related Takeaways
MC
Mark Cuban
03/30/24
@ Lex Fridman
I started Cost Plus Drugs after realizing the inefficiencies in the pharmaceutical market, especially after the price hike of a drug by Martin Shkreli.
MC
Mark Cuban
03/30/24
@ Lex Fridman
Cost Plus Drugs aims to solve the issue of trust in healthcare through complete transparency in drug pricing.
MC
Mark Cuban
03/30/24
@ Lex Fridman
By analyzing our prescription drug costs, I discovered that we spent $169,000 with a pharmacy benefit manager, while it would have only cost $19,000 through Cost Plus Drugs.
MC
Mark Cuban
03/30/24
@ Lex Fridman
I use my name to promote Cost Plus Drugs because it's the only company I've ever put my name on, and I believe in its mission.
MC
Mark Cuban
03/30/24
@ Lex Fridman
Cost Plus Drugs is working with independent pharmacies to create supportive programs that can help break the current cartel-like structure of the pharmaceutical industry.
MC
Mark Cuban
03/30/24
@ Lex Fridman
Cost Plus Drugs provides a transparent price list for over 2,500 drugs, contrasting sharply with the lack of transparency from major pharmacy benefit managers.
MC
Mark Cuban
03/30/24
@ Lex Fridman
When you visit costplusdrugs.com, you can see the actual costs of medications, including a 15% markup and any pharmacy fees, which revolutionizes drug pricing in America.
MC
Mark Cuban
03/30/24
@ Lex Fridman
CEOs often lack understanding of healthcare coverage, which leads to significant costs for their companies.
MC
Mark Cuban
03/30/24
@ Lex Fridman
I believe every company with over 500 employees should have a healthcare CEO to manage healthcare costs effectively, as healthcare is often the second largest expense after payroll.