Despite coming up in the worlds of entrepreneurship and reality television, Mark Cuban has become a big name in the healthcare industry in recent years. In 2022, the billionaire entrepreneur founded Mark Cuban Cost Plus Drug Company, an online pharmacy that skirts insurance and sells drugs at cost with a 15% markup and fee for pharmacy labor and shipping. The company also posts on its website exactly how much it paid manufacturers for the medicines it sells in an effort to boost transparency in a historically complex and opaque industry. In a recent interview, Cuban told Healthcare Brew he became interested in disrupting the healthcare industry in 2017 when the first Trump administration was determined to “repeal and replace” Obamacare. “Out of curiosity, I dug in and started getting involved with it and trying to look at ways to change the system, and come up with better approaches to health insurance and healthcare,” he said. When Alex Oshmyansky, a radiologist who became co-founder and CEO of Cost Plus, sent Cuban an email pitching a compounding pharmacy to manufacture drugs on the FDA’s shortage list, Cuban said, “I thought, ‘OK, that’s cool, but that’s not big enough.’” Find more nuggets of wisdom from Cuban here.—MA |