Prescription drug prices have become unaffordable for many. One company is taking a new approach to keep costs in check.
The price of pharmaceuticals is often outlandishly high, sometimes costing upwards of $100 or more for just one prescription. These costs can become a substantial financial burden for those without good insurance. For those without any insurance at all, these costs can be the factor that stops them from obtaining the medicine they need, possibly even putting their lives in danger. Some may believe these high prices result from expensive research and production by pharmaceutical companies. However, a study published by the National Center of Biotechnology, National Library of Medicine, and National Institutes of Health (NCBI, NLM, and NIH) in March 2020, proved this to be incorrect.
According to the study, the median gross profit margin for pharmaceutical companies was 76.5%, indicating that the price of pharmaceuticals is highly inflated for profit. Thankfully, this issue did not go unnoticed, and early this year, Mark Cuban launched the online pharmacy “CostPlusDrugs.com”
Cost Plus Drugs sells the medications you need with only a 15% profit margin in order to keep the company running, causing the price of pharmaceuticals purchased from CostPlusDrugs to be a fraction of their retail counterparts. According to the website, this drastic price decrease is done by cutting out the pharmaceutical intermediaries and working directly with drug manufacturers. The pricing mark-ups and additional fees are published, so buyers know precisely what they are paying for. The only catch is that CostPlusDrugs does not accept insurance. Although, it is addressed in a FAQ that “in most cases, even without insurance, [CostPlusDrugs] prices are less than what you would pay when using your insurance at a typical pharmacy.”
Cost Plus Drugs uses their partner “TruePill” to fill your prescription. TruePill uses “teams of accredited pharmacists to ensure your prescription is safe and arrives on time.” CostPlusDrugs also is in the process of building its own pharmaceutical faculty to manufacture its own medicines. This facility will be in Dallas, Texas, in an effort to combat any shortage in drug manufacturing.
See if they carry the medication you need. Once you find your medication, you can follow these steps provided by Cost Plus Drugs to get them to your doorstep:
Find your medication in the online store by searching, browsing alphabetically, or by medical condition.
Once you’ve found your medication, sign up for an account.
Reach out to your doctor or provider with our provided instructions to receive your prescriptions.
Once a prescription from your doctor is received, you’ll be notified to checkout.
Your medications will be delivered straight to your door in just a few days.
Cost Plus Drugs aims to disrupt big pharma and make medicine easily accessible without making it cost a fortune and ensuring that people get the care they need when they need it. It is backed by a reputable investor and trusted professionals.
To read more about CostPlusDrugs and decide if this is a company that can help you, visit their site here.
Keep up to date on Pocono news, art, and events by following us on the Newsbreak app.
Have a news tip? Report it to (570) 451-NEWS.