Subjects: PDT, LIC
Mark Cuban Cost Plus Drug Company Teams Up with RxLink to Bring Pharmacy Cost Transparency to Patients of Leading Health Systems
Patients Automatically Receive Information on Pricing of Prescribed Medications, Including Cost Plus Drugs' Transparent Pricing
DOVER, Del., May 7, 2024 /PRNewswire/ -- Today, RxLink, a firm founded with the same commitment to price transparency in prescription medicine as Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs) announced a new collaboration to connect patients of leading health systems with Cost Plus Drugs' offering of safe medicines at the lowest possible price.
RxLink partners with health systems to deliver transparency to patients. The RxLink MedMaptm automatically accounts for a patient's insurance, third-party discount cards and manufacturer offers to check for coverage and provide a lowest-cost recommendation for each medication to patients via SMS and a web portal. The MedMaptm now includes Cost Plus Drugs and has already identified and surfaced over $162,000 in patient savings after only 3 months of including Cost Plus Drugs pricing.
The Head of Strategic Partnerships at RxLink, JB Powell, describes the relationship as "a natural way for two organizations committed to ensuring access to safe, affordable medicines to work together. There has never been a solution that allows patients to easily understand exactly what their medications will cost before they go to the pharmacy. If we identify ways to reduce out-of-pocket costs, we connect the patient with them automatically; those options would be incomplete without including Cost Plus Drugs' low and transparent pricing. The added benefit is that by working with health systems and other digital health solutions, the savings are delivered by someone they can trust - their doctor."
Through partnership with a broad range of medication savings solutions, RxLink saves patients leveraging the platform an average of over $100 per month on the prescriptions they need. This builds up quickly across health systems with high volumes of patients ? many saving their patients well over $1M per year.
"We are excited to work with RxLink to bring lower prescription drug prices to consumers," said Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company. "Cost Plus Drugs and RxLink share a common goal of providing consumers the lowest possible price for their prescription medication. With Cost Plus Drugs, consumers can be confident they are getting a fair price and the convenience of medication mailed directly to their homes."
About Mark Cuban Cost Plus Drug Company: The Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs) aims to fundamentally change the way the pharmaceutical industry operates. As a public-benefit corporation, its social mission of improving public health is just as important as the bottom line. Cost Plus Drugs transparently charges a standard markup on every drug it sells. The costplusdrugs.com online pharmacy launched in January 2022 now carries over 2,300 prescription products, delivered by mail to thousands of happy customers every day. Customers can also go to participating retail pharmacies to receive Cost Plus Drugs pricing through the Team Cuban Card. Cost Plus Drugs is working with health plans, managed-care organizations, pharmacy benefits managers (PBMs) and self-insured employers to bring these same savings to employer-sponsored benefit plans nationwide.
About RxLink: RxLink was founded by health care industry pioneers who witnessed that the process of understanding prescription benefit coverage and finding the best price for medications, including taking advantage of existing patient support and discount programs, was complicated and difficult to navigate. They decided to do something about it by partnering with health systems, payers, and employers to present options based on a patient's particular situation in an understandable way. RxLink has partnered with health systems to support medication affordability and pharmacy growth, currently providing savings to patients in over 30 states and US territories.
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SOURCE RxLink Inc
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