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Medicare could save up to $3.6 billion by purchasing generic drugs at Mark Cuban prices

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A short research report found that Medicare could save up to $ 3.6 billion by purchasing the same drugs as Mark Cuban Cost Plus Drug Company (MCCPDC) in 2020. These findings show that Medicare is overpaying. for other medications. The report was published in Annals of Internal Medicine.

In January 2022, MCCPDC launched an online pharmacy selling over 100 pills at grocery and factory prices with a 15% margin, pharmacy distribution $ 3, and shipping costs $ 5.

Researchers from Brigham and Women’s Hospital and Harvard Medical School compared the 89 prices traditional medicine MCPDC sold it to Medicare paid in 2020 to estimate savings potential if Medicare Part D plans to pay for MCCDC. They found that Medicare could save up to $ 3.6 billion, or 37% of the total cost, on 77 drugs if it buys over-the-counter medicines at the maximum amount MCPDC provides. The authors also found that if Medicare purchased the drugs at the lowest possible cost from MCPDC, it could save $ 1.7 billion, or 18% of total spending, on 42 drugs.

According to the authors, the low cost of medicines from the direct-to-consumer product shows a lack of effectiveness in the regular drug distribution and payment system, which includes retailers, pharmacists, pharmacists, medicine, and insurers. They added that policy reforms that improve price transparency, increase competition for expensive drugs, prevent annual inflation, and limit pharmacy and distribution prices could increase the cost of essential medicines for all Americans.


The cost of prescription drugs has increased by 277 percent over the last eight years


Learn more:
Possibility of Part D of Medicare Blood Transfusion Support from Mark Cuban Cost Plus Drug Company, Annals of Internal Medicine (2022). DOI: 10.7326 / M22-0756

hintMedicare can save up to $ 3.6 billion by purchasing over-the-counter medications at Mark Cuban (2022, June 20) reimbursement June 20, 2022 from https://medicalxpress.com/news/2022-06- medicare-billion-drugs-prices-cuban .html

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Medicare could save up to $3.6 billion by purchasing generic drugs at Mark Cuban prices Source link Medicare could save up to $3.6 billion by purchasing generic drugs at Mark Cuban prices

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