The rising cost of prescriptions in the United States is no secret. This Pharma Bro showed just how easy it is to manipulate the price margins and make $$$$$ load.
Well, the actual pharma bros (pharmacists) and the business bros have taken the matter in their own hands. We are now seeing Cash Pharmacies (pharmacies that don’t take insurance and dispense generic prescription drugs for a fraction of the cost).
Why should you care?
An average American takes 4 different medications. If you are one of these Americans who take regular prescription meds, You will never forget these letters: PBM.
PB… What? (Pharmacy benefit manager – AKA PBM). PBMs mostly control the cost of prescription medication, branded or generic. If you are a generally healthy person and have a good insurance prescription coverage, you may not care, but all of us have someone in our families who knows all about the PBMs and the price of prescription drugs.
Same meds, why different cost?
A cost of the same medicine can vary based on where you buy it, which pharmacy has contracted with which PBM and about 100 more variables. When you need a medicine, you won’t ask questions, just get the meds.
Cash pharmacies are making it super easy. With 100s of generic prescription medicines sold at a fraction of “insurance cost”. Here is how Mark Cuban’s pharmacy price their drugs.
- They purchase the drug directly from the manufacturer (so no PBMs).
- They resell the drug with:
- 15% acquisition fee,
- $3 pharmacy labor fee,
- and a $5 shipping fee
- Tip: they also have “Price Drop Friday”