Mark Cuban Vows To Revamp US Healthcare By Empowering Independent Pharmacies: 'We Don't Want To See Pharmacy Deserts.

Billionaire investor and entrepreneur Mark Cuban is taking strides to overhaul the U.S. healthcare sector, beginning with his venture, Cost Plus Drugs.

What Happened: Cuban shared his vision of revamping healthcare in the nation in a recent conversation with The Hill. The “Shark Tank” star initiated Cost Plus Drugs in 2022 to circumvent intermediary wholesalers in the pharmacy sector.

Despite facing hurdles with Pharmacy Benefit Managers (PBMs), who manage drug coverage for corporations, Cuban’s firm is striving to negotiate directly with drug producers and coordinate with pass-through PBMs. Critics claim that PBMs are often unable to obtain the optimal deal and are driving independent pharmacies out of business.

Cuban underscored the company’s collaboration with independent pharmacies, which he deems vital for the healthcare industry. "I want independent pharmacies to stay in business," Cuban stated. "I think as a country, we don't want to see pharmacy deserts.”

Cuban anticipates that his efforts will result in substantial savings for taxpayers and patients. He also expressed hope that the Trump administration would facilitate price reduction through the Centers for Medicare and Medicaid Services (CMS) and the Department of Health and Human Services (HHS).

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Why It Matters: Cuban’s healthcare reform efforts come in the wake of his earlier criticisms of the U.S. healthcare system. In February, he blamed high deductibles designed by insurance companies for patient bankruptcy. He also called the U.S. healthcare system “horrific” and suggested free medical school to address doctor shortages and soaring costs. His current initiative with Cost Plus Drugs appears to be a practical step towards addressing these issues.

The billionaire has been critical of the Trump administration but has no plans to run for any federal role. Instead, he is keen on overhauling the U.S. healthcare sector. "If I could change health care in this country, that would be amazing,” expressed Cuban. However, he believes Republicans, especially those from the Department of Government Efficiency (DOGE), may be reluctant to collaborate with him.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.