Mark Cuban CostPlus For Employers
We offer access and administration of the Mark Cuban Cost Plus Drug Company for employers large and small that don't have access through their existing PBM.
Transcription:
What is Mark Cuban CostPlus for employers?
Thanks, Chris. So we at AffirmedRx are a PBM, or a pharmacy benefit manager, so we process pharmacy claims. And the Mark Cuban CostPlus Drug Company is a direct-to-consumer pharmacy, so they buy and sell drugs at deeply discounted rates. This video is about our combined standalone product to provide access to the Mark Cuban CostPlus Drug Company called AffirmedRx Plus. Similar to a direct to employer contract for specialty providers or hospitals, or a point solution, this is something that can be added to an employer's benefit strategy anytime throughout the year. Nothing would change in their existing pharmacy space. This would just be an additional option.
How is Mark Cuban CostPlus for employers different?
So as I mentioned, we're the only standalone offering in the market for employers. There's a few smaller PBMs that allow access to Mark Cuban's pharmacy for their clients, but none of the big three PBMs, Express Scripts, CVS or Optum, who control about 80% of the market, have allowed access for their clients, which means that if employees on these plans purchase medications through Mark Cuban, they're not getting it covered through their insurance and they're paying out of pocket. We knew we could fix this problem. So through our AffirmedRx Plus product, employers can now offer access to Mark Cuban's pricing, which as you can see from this slide, is significantly reduced compared to the average retail pricing. Mark's pricing is in the orange, and the average retail price is in the blue. Just looking at that first medication, imatinib, a generic cancer medication, there's over $2,000 in savings on that one medication for one person for one 30-day supply. So the savings for both the employee and the employer can add up quickly, and with this program, employers can cover some or all of the cost of the medication, and any employee cost will seamlessly accumulate to their deductible and out of pocket.
Who is a good fit for Mark Cuban CostPlus for employers?
This is a great fit for any employer looking to save money for themselves or their employees, fully insured or self-funded, big or small. As it's a standalone offering, employers can offer it to their full-time, benefit eligible employees and their dependents, but also their part-time, contract, or seasonal workers, and even those benefit waivers, and employers do not have to wait for their effective date or renewal to do so. This can be added any time throughout the year.
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Transcription:
What is Mark Cuban CostPlus for employers?
Thanks, Chris. So we at AffirmedRx are a PBM, or a pharmacy benefit manager, so we process pharmacy claims. And the Mark Cuban CostPlus Drug Company is a direct-to-consumer pharmacy, so they buy and sell drugs at deeply discounted rates. This video is about our combined standalone product to provide access to the Mark Cuban CostPlus Drug Company called AffirmedRx Plus. Similar to a direct to employer contract for specialty providers or hospitals, or a point solution, this is something that can be added to an employer's benefit strategy anytime throughout the year. Nothing would change in their existing pharmacy space. This would just be an additional option.
How is Mark Cuban CostPlus for employers different?
So as I mentioned, we're the only standalone offering in the market for employers. There's a few smaller PBMs that allow access to Mark Cuban's pharmacy for their clients, but none of the big three PBMs, Express Scripts, CVS or Optum, who control about 80% of the market, have allowed access for their clients, which means that if employees on these plans purchase medications through Mark Cuban, they're not getting it covered through their insurance and they're paying out of pocket. We knew we could fix this problem. So through our AffirmedRx Plus product, employers can now offer access to Mark Cuban's pricing, which as you can see from this slide, is significantly reduced compared to the average retail pricing. Mark's pricing is in the orange, and the average retail price is in the blue. Just looking at that first medication, imatinib, a generic cancer medication, there's over $2,000 in savings on that one medication for one person for one 30-day supply. So the savings for both the employee and the employer can add up quickly, and with this program, employers can cover some or all of the cost of the medication, and any employee cost will seamlessly accumulate to their deductible and out of pocket.
Who is a good fit for Mark Cuban CostPlus for employers?
This is a great fit for any employer looking to save money for themselves or their employees, fully insured or self-funded, big or small. As it's a standalone offering, employers can offer it to their full-time, benefit eligible employees and their dependents, but also their part-time, contract, or seasonal workers, and even those benefit waivers, and employers do not have to wait for their effective date or renewal to do so. This can be added any time throughout the year.
Benefit Professionals... Do you want to stay a step ahead of the competition?
Click here to subscribe for FREE and we will send you NEW 3x3x3 Challenges directly to your inbox every week!