The medical care industry in the United States is a very big issue because drugs and medication are very expensive. For people who suffer from life-threatening illnesses and other medical issues. It can be very hard for those individuals to get the care and medications they need. Luckily for us, billionaire Mark Cuban has introduced a new online pharmacy that may be the answer to our problem. His goal is to use his company, The Mark Cuban Cost Plus Drugs Company (MCCPDC) to make more affordable and much-needed medications
Mark Cuban Making A Change
Then-CEO of Turning Pharmaceuticals inflated the price of the drug Daraprim in January of 2020. This life-saving drug went from $13.50 to $750 per tablet. Of course, this caused a ripple of outrage across the country. This included Mark Cuban himself who said that the pricing of generic drugs was ridiculous. So, he made it his goal to make a change. He wanted to show that” capitalism can be compassionate and to send the message I am all in.”. (1)
Mark Cuban has taken it into his own hands by creating the Mark Cuban Cost Plus Drugs Company (MCCPDC). Which gives you the option of more affordable drugs. His company is now officially open and operational. It is registered as a pharmaceutical wholesaler that buys drugs right from manufacturers. Doing this not only cuts out the middleman but can successfully drop the price of over 100 medications.
Mark Cuban: The Fair Pricing We All Deserve
To think that so many people die every day in the United States. And, living every day with unbearable pain from certain illnesses, just because they can’t afford what they need is just insane. Just to help you get more of an understanding of this problem. The drug Imatinib for leukemia is priced at $9,675. With the help of Mark Cuban’s company, this drug only costs $47 per month. MCCPDC has said that the mark-up for generic drugs is a minimum of 100%. Whereas other reports have shown it to be more than 1000%
“Everyone should have safe, affordable medicines with transparent prices.” the MCCPDC website quotes Cuban as saying. (2)
Mark Cubans company does not accept insurance claims which basically means that you have to pay out of pocket. But, considering the majority of the medications on his online pharmacy cost less than most insurance plans’ deductibles and copay requirements, it is far more affordable. You must also get a new prescription from a US-based medical care provider to order any medications. MCCPDC includes the cost of the medication which is a 15% mark-up, a $3 pharmacist fee as well as about $5 for shipping which can vary depending on where you live.
Why Are Medications So Expensive?
A person who has an illness or knows someone who does may have the urgent need to know why there would be such an incredibly high markup for medications. This burning question is asked all the time because people know that these medications can save lives.
First, it is well known that the medical industry, including hospitals, is basically a huge business that is not only made to help people but also to make a profit. There are very few states that have limits on the prices that hospitals can set for medications which means they have all the power to decide the pricing. Of course, not all hospitals charge an insane amount of money. This is more of a thing for for-profit hospitals whereas non-profits do not. Although, it is a problem because non-profit hospitals will have a tougher time providing care due to the lack of funding. Another part of the medical industry is pharmacies which also want a profit and putting all of these factors into it, the prices begin to raise.
There are ways to do research to find affordable price options for medication if you are in need. You can also try to negotiate with hospitals, but there is no guarantee that you will find the help you need.
What Mark Cuba is doing is a God send and truly helpful for those in need. All we can hope for is that this will make a change in the medical industry. Maybe this will be a competition for all those hospitals and pharmacies, so they may drop their prices as well. Although this is a problem in the medical industry, it is also something the government needs to work on. They need to stand up against these insane markups and prices and create legislation that can protect the people.
What Can I Do To Make A Change Like Mark Cuban?
If you want to help make a change like Mark Cuban, you can take these steps. You can write a letter to your local politicians, create a signature campaign, or spread awareness of this issue. The more everyone speaks out, the greater chance we have to make a huge difference.