Assessing the Cost-Saving Potential of the Mark Cuban Cost Plus Drug Company for Diabetes Medications: A Comparative Study with Medicare Part D Pricing

Research output: Contribution to conferencePosterpeer-review

Abstract

Background: Diabetes mellitus is a significant health challenge with increasing prevalence rates and substantial economic implications. Prescription drug costs for diabetes medications contribute to the financial burden faced by individuals with this condition. The Mark Cuban Cost Plus Drug Company (MCCPDC) provides generic drugs at affordable prices, potentially alleviating this burden. However, the effectiveness of MCCPDC in reducing diabetes medication costs compared to Medicare has not been assessed.

Methods: A cross-sectional review compared drug prices for diabetes medications on the MCCPDC website (as of July 12, 2023) to the 2021 Medicare Part D spending data. The study followed best practice recommendations and ensured transparency and reproducibility. Thirteen drugs were included in the sample, and data extraction and calculations were conducted independently by two authors.

Results: Overall, the 30ct drug prices were higher for MCCPDC compared to Medicare, with Medicare potentially saving $1.25 billion. For 90ct drug prices, Medicare showed potential savings of $60 million over MCCPDC. Metformin significantly impacted cost differences. When excluding Metformin, the overall cost difference for 30ct favored Medicare by $412 million, while 90ct favored MCCPDC by $158 million.

Conclusion: While the MCCPDC offers cost savings for some diabetic medications compared to Medicare, others show increased prices. Individual drug evaluations are crucial to determine potential cost savings. Further research is needed to explore cost-saving opportunities for other medical care areas through initiatives like MCCPDC.
Original languageAmerican English
Pages74
StatePublished - 16 Feb 2024
Event
Oklahoma State University Center for Health Sciences Research Week 2024
- Oklahoma State University Center for Health Sciences, Tulsa, United States
Duration: 13 Feb 202417 Feb 2024
https://medicine.okstate.edu/research/research_days.html

Conference

Conference
Oklahoma State University Center for Health Sciences Research Week 2024
Country/TerritoryUnited States
CityTulsa
Period13/02/2417/02/24
Internet address

Keywords

  • diabetes
  • mellitus
  • MCCPDC
  • Medicare

Fingerprint

Dive into the research topics of 'Assessing the Cost-Saving Potential of the Mark Cuban Cost Plus Drug Company for Diabetes Medications: A Comparative Study with Medicare Part D Pricing'. Together they form a unique fingerprint.

Cite this