MARK CUBAN COST PLUS DRUG COMPANY AND RXPREFERRED BENEFITS ANNOUNCE PARTNERSHIP TO INCREASE HEALTHCARE ACCESSIBILITY AND REDUCE PRESCRIPTION DRUG COSTS
NASHVILLE, Tenn. and DALLAS, Jan. 11, 2023 /PRNewswire/ -- RxPreferred Benefits, a transparent Pharmacy Benefit Administrator, and Mark Cuban Cost Plus Drugs, PBC (Cost Plus Drugs), have announced a new partnership today, focused on improving healthcare access and lowering drug spend. With this venture, employers and their members utilizing RxPreferred for their pharmacy benefit will have access to all medications available through Cost Plus Drugs within their benefits package, with future plans to expand this offering along with local independent pharmacies.
“Our partnership with RxPreferred is another step in the direction of bringing transparency to healthcare and lowering drug costs for individuals and families across the country.,” said Mark Cuban. “We are excited to work with a like-minded company that aligns with our goals and puts improving access to affordable prescriptions first.”
Healthcare and prescription drug spend has continued to be a rising concern for both individuals and companies hosting their insurance benefits plan or plan sponsors. The pricing of drugs and schematics behind the industry are complex and traditionally been veiled from the end-consumer, leading to the need for transparency and control back in the hands of those ultimately paying for the drugs.
“There is an education component for employers and employees needed to help people and their families access the appropriate medications at the best possible costs and live healthy lives.,” says Jeff Malone, CEO of RxPreferred. “In an otherwise opaque industry, we’re committed to bringing transparency to the prescription drug space, making this partnership with Mark Cuban Cost Plus Drug Company vital to our continued efforts in improving healthcare.”
With this partnership, RxPreferred and Mark Cuban Cost Plus Drug Company will bring together employer-sponsored benefits with the option to use Cost Plus Drugs as part of their plan, previously only offered to individuals outside of their insurance package. Cost Plus Drugs makes all drugs and pricing publicly available, giving everyone the opportunity to make informed decisions about their healthcare needs.
RxPreferred started their efforts in transforming healthcare in 2011 with transparent custom pharmacy solutions and now work with employers nationwide to administer their pharmacy benefits plan. This partnership is the next iteration of strategic innovation it provides its’ customers as part of an ever-evolving environment with the goals of sustainable prescription drug spend, improved member access, and transparency for employers and their members.
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 1,000 prescription products, delivered by mail to thousands of happy customers every day. 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. https://www.linkedin.com/company/costplusdrugs/
About RxPreferred Benefits
RxPreferred Benefits is transforming healthcare through transparent, pass-through Pharmacy Benefit Administration. In collaboration with self-funded employers and health plans, RxPreferred develops custom solutions that drive savings and promote healthcare accessibility for members with innovative strategies, technology, and data access. Headquartered in Nashville, TN, RxPreferred is privately-held and operates nationally, also offering a variety of pharmacy solutions including 340b Administration and PBM Services for Hospice, Long-Term Care, and Workers’ Compensation. To learn more and connect with our team of trusted advisors, visit us at https://rxpreferred.com or on LinkedIn at https://www.linkedin.com/company/rxpreferred-benefits.
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