Saturday, April 17, 2021

Disrupting the Status Quo and Making Meds Cheaper with Dr Alex Oshmyansky


  • From March 10th, 2021

What if we could cut out the medicine middle man and save billions in drug costs? Here’s a doc who partnered with Mark Cuban to do just that.

Check out the Mark Cuban Cost Plus Drug Company here. (note: we are NOT sponsored by Mark Cuban…yet, lol)

Full video and transcript here. 

I recently heard a fascinating podcast by r Zubin Damania(aka ZDoggMD).  He was talking with Dr. Alex Oshmyansky about making medications in the US more affordable.  Dr Oshmyansky partnered with Shark Tank's Mark Cuban to start a new company to do just that. 

One of the most interesting things Dr Oshmansky talked about was the convoluted system that has developed in the US for getting medications to patients, getting them on the insurance company approved med lists so that they are covered, among other shenanigans.  It sounded like a lot of wheeling and dealing that should be illegal, but isn't.   All this time, we've been wanting to blame the drug companies for such high prices, when in actuality, it's the middlemen (pharmacy benefits managers and paperwork filers, ie Caremarks and Cignas) who are keeping prices intentionally high -- only because the market will bear it.  

Meanwhile, people who really do needs certain meds are going without because they can't afford it, or don't have insurance to cover it, or are homeless ... 

The Cost Plus Drug Company stands to disrupt that whole pay-to-play drug system.  They are not in it to make money.  They just want to break even.  They do the work of getting FDA approved to make certain generic medications that are not expensive to make, and then they make them available for cheap.   

I am looking forward to seeing how Cost Plus disrupts the current system and makes the world a better place for a lot of people!

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