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Episode 17: Disrupting the Drug Pricing Landscape with Mark Cuban
Manage episode 438981441 series 3552382
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Welcome back to the Pharmaverse! Today's episode is a special one. Michael Pietrack our host sits down with THE Mark Cuban, world famous entrepreneur, owner of the Dallas Mavericks, a 'shark' on the beloved series Shark Tank, and most excitingly for our viewers, the co-founder of Cost Plus Drug Company. In this episode we discuss the need for transparency in the drug pricing landscape and how his company is disrupting the market. He explains that Cost Plus Drugs is a completely transparent pharmacy that shows the price, cost, and markup of medications. By offering lower prices and providing transparency, Cost Plus Drugs is making a significant impact on people's lives. Mark also shares his insights on leadership and building a winning culture. "We launched and what made us different is not only did we show you the price, something others had done a little bit, but we also showed you our cost." He heart-warmingly shares stories of patients whose lives have been changed forever by cost plus, saving them thousands of dollars a month, and allowing them to stop rationing their medications. Truly an incredible episode! Tune in.
🗝Key Moments:
👀Transparency is crucial in the pharmacy industry, and Cost Plus Drugs is disrupting the market by providing complete transparency in pricing and costs.
💊Cost Plus Drugs offers lower prices for medications, making them more affordable for people and improving their access to necessary drugs.
💕Mark Cuban emphasizes the importance of caring and aligning the mission of the organization with the employees' goals to be a good leader.
📈Creating a winning culture involves understanding the product or service being offered, selling the experience, and appreciating the contributions of all team members.
👫Mark's proudest leadership moment is not winning a championship in sports, but the potential impact of Cost Plus Drugs in making medications more affordable for everyone.
Chapters
00:00
Introduction and Background
02:42
Transparency in the Pharmacy Industry
06:09
Disrupting the Market and Challenging PBMs
08:56
The Impact of Cost Plus Drugs on Local Pharmacies
13:35
Word of Mouth Marketing and Success
22:11
Leadership and Building a Winning Culture
15 episoder
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