CVS PHARMACY: Rx Drug Price Overhaul

By Staff Reporters

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CVS is overhauling how it prices prescription drugs

In a recent announcement, the company CVS promised that its new model would be more transparent than the current setup, which prices drugs based on complex reimbursement formulas that can make the costs of prescriptions confusing for consumers.

CITE: https://www.r2library.com/Resource/Title/082610254

The new model, called CVS CostVantage, is based on a simple equation: Drugs will cost what CVS paid for them, plus a limited markup and a flat fee to cover the services of fulfilling the prescriptions. That’s similar to a plan proposed by billionaire Mark Cuban, founder of Cost Plus Drugs, to bring accountability to drug pricing in the US.

MORE: https://medicalexecutivepost.com/2022/06/23/mark-cubans-cost-plus-drugs-com/

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PODCAST: CVS Replaces it’s PBM

Existential Threat to Pharmacy Benefits Managers?

By Staff Reporters

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Just now, CVS got a taste of its own medicine after Blue Shield of California said it will replace CVS’s pharmacy benefit manager system [PBMs] with other companies, including Amazon Pharmacy and Mark Cuban’s Cost Plugs Drugs business, to supply cheaper drugs to its members.

CITE: https://www.r2library.com/Resource

The move poses an existential threat to the entire pharmacy-benefit manager model.

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MARK CUBAN’s: “Cost Plus Drugs”. com

By Staff Reporters

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Mark Cuban: The billionaire owner of the Dallas Mavericks just launched an online pharmacy for generic drugs that looks to cut out middlemen and combat pharmaceutical industry price gouging by offering steep discounts.

Set up as CostPlusDrugs.com with 100 generic drugs to treat conditions like diabetes and asthma. Cost Plus will not accept health insurance but claims its prices will still be lower than what people would typically pay at a pharmacy.

“All drugs are priced at cost plus 15%!” Cuban tweeted.

READ: https://medicalexecutivepost.com/2022/01/23/podcast-the-mark-cuban-cost-plus-drug-co-mccpdc/

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