Humana and Mark Cuban's Cost Plus Drugs to Partner on Lowering Prescription Drug Prices
In a significant move, Humana, one of the nation's largest health insurers for older adults, is exploring a partnership with billionaire entrepreneur Mark Cuban's Cost Plus Drugs to lower prescription drug prices. The potential collaboration was announced at the annual Forbes Healthcare Summit, where both parties discussed ways to improve patient experience at pharmacies.
According to sources close to both companies, the initial focus will be on direct-to-employer programs that bypass traditional pharmacy benefit management (PBM) companies. Mark Cuban's Cost Plus Drugs is looking to capitalize on this trend, citing partnerships with CenterWell healthcare services business as a key strategy.
"We're working on these types of programs with CenterWell and the manufacturers," Cuban said. The partnership could be a boon for Cost Plus Drugs, given that Humana has over 8 million health plan enrollees, including more than 5 million in Medicare Advantage plans.
The deal is still in its early stages, but both parties are committed to streamlining the pharmacy experience and reducing unnecessary costs. Humana's CenterWell pharmacy business aims to "basically streamline how [medications] get from the plant to the consumer," Rechtin said. By contracting directly with manufacturers and eliminating intermediaries, consumers can see the face value of prescription drug prices.
"Their seeing the actual price of the drug which is much less than what you would typically see in the normal system," Rechtin added. "It allows us to basically give access at a lower cost and that's what we're doing with the direct-to-consumer model."
This partnership is the latest effort by Humana to innovate and grow its pharmacy business, following recent expansions into telehealth services and specialty pharmacies. By working together with Cost Plus Drugs, Humana aims to improve patient outcomes while reducing costs for employers and patients alike.
In a significant move, Humana, one of the nation's largest health insurers for older adults, is exploring a partnership with billionaire entrepreneur Mark Cuban's Cost Plus Drugs to lower prescription drug prices. The potential collaboration was announced at the annual Forbes Healthcare Summit, where both parties discussed ways to improve patient experience at pharmacies.
According to sources close to both companies, the initial focus will be on direct-to-employer programs that bypass traditional pharmacy benefit management (PBM) companies. Mark Cuban's Cost Plus Drugs is looking to capitalize on this trend, citing partnerships with CenterWell healthcare services business as a key strategy.
"We're working on these types of programs with CenterWell and the manufacturers," Cuban said. The partnership could be a boon for Cost Plus Drugs, given that Humana has over 8 million health plan enrollees, including more than 5 million in Medicare Advantage plans.
The deal is still in its early stages, but both parties are committed to streamlining the pharmacy experience and reducing unnecessary costs. Humana's CenterWell pharmacy business aims to "basically streamline how [medications] get from the plant to the consumer," Rechtin said. By contracting directly with manufacturers and eliminating intermediaries, consumers can see the face value of prescription drug prices.
"Their seeing the actual price of the drug which is much less than what you would typically see in the normal system," Rechtin added. "It allows us to basically give access at a lower cost and that's what we're doing with the direct-to-consumer model."
This partnership is the latest effort by Humana to innovate and grow its pharmacy business, following recent expansions into telehealth services and specialty pharmacies. By working together with Cost Plus Drugs, Humana aims to improve patient outcomes while reducing costs for employers and patients alike.
This collaboration between Humana and Mark Cuban's Cost Plus Drugs has me thinking... if they can actually reduce prescription drug prices, it'd be a game-changer for seniors like those with Humana's 8 million health plan enrollees. I mean, think about it - with direct-to-employer programs, manufacturers would cut out middlemen and pharmacies could just give customers the real price of the meds. It's not rocket science! 
Of course, this is all still in its early stages, but if they can make it happen... we might finally see some relief for those who are struggling with exorbitant medication costs 
It's like Cuban said "they're seeing the face value of prescription drug prices" which is pretty cool. And it makes total sense that Humana wants to streamline the process and reduce unnecessary costs... maybe we'll finally get some affordable meds for those in need 
and i'm literally so stoked!!! i have like 2 cousins who r both on medicare advantage plans & they're always complaining about how expensive their meds are 
i mean mark Cuban's already talked about his cost plus model which basically cuts out all the middlemen & gets the actual price of the med to consumers... that sounds like a total game changer 
humana's got 8 million health plan enrollees, btw, so this could be huge 
and I love how they're trying to simplify the pharmacy experience by cutting out those middlemen 
Plus, this partnership is also good for employers & patients, which is a win-win 
With 8 million+ health plan enrollees, the potential impact is huge 
. It's not just about cost savings; it's also about improving patient experience at pharmacies 
. This partnership is a step in the right direction towards making healthcare more affordable and efficient 
.
. Direct-to-consumer models like this can make a big difference 
I'm low-key hyped about this potential partnership between Humana and Mark Cuban's Cost Plus Drugs 
anyway, i think this is a great move by humana 2 try out new ways 2 make pharmacy more affordable 4 their members. direct-to-employer programs cud b a game changer! 
Anyway, just curious if they'll be able to make this work and actually get cheaper meds for us