Billionaire Mark Cuban Says Health Insurance Shouldn't Exist

Benzinga

Mark Cuban describes the pharmaceutical industry as the easiest business he has ever disrupted, aiming to lower prices through his company Cost Plus Drugs. By eliminating middle layers that increase prescription costs, the medications are priced up to 90% lower than traditional retail. The model features no insurance requirements, no hidden markups, and full price transparency, with plans to extend direct contracting rates to hospitals and providers. Small changes in this $500 billion industry can lead to significant impacts.

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00:00Mark Cuban calls pharma the easiest business he's ever disrupted, and he's moving through a 500

00:04billion dollar industry with one goal, lower prices. Through his company Cost Plus Drugs,

00:10Cuban has cut out the middle layers that often drive up prescription costs. Many of the medications

00:14sold through the platform are priced up to 90% lower than traditional retail. The model is simple,

00:20no insurance requirements, no hidden markups, full price transparency. Cuban says the plan

00:25is to expand beyond prescriptions, sharing direct contracting rates with hospitals and

00:29providers as well. In an industry where just 1% of margin can mean billions, even small changes can

00:34have a massive impact. Follow Benzinga for more coverage on how business models are challenging

00:39the healthcare system.

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