Abstract
Background: Healthcare spending on medications has continued to rise over the years, presenting a dilemma with affordable medications, notably in the field of orthopedics. To combat this issue, the Mark Cuban Cost Plus Drug Company (MCCPDC) platform has been established as an alternative to lower the financial burden placed on patients. The goal of this study is to assess the differences between MCCPDC and Medicare Part D orthopedic medication pricing.
Methods: We performed a cross-sectional analysis on the price difference on gout, muscle relaxants, pain and inflammation medications, as well as steroids between MCCPDC and Medicare Part D 2021 spending data. Prices, including shipping fees, were included for tablets and capsules in the minimum quantity (30ct) and maximum quantity (90ct). The unit costs, and total savings, and standardized unit prices for 30ct and 90ct prescriptions were calculated and compared between MCCPDC and Medicare medications.
Results: Our study sample comprised 24 medications for comparison after exclusions within four different MCCPDC categories. Medicare’s expenditure for these medications totaled $1.3 billion. Cost savings with MCCPDC were shown in 10/24 of the 30ct medications, with a $800.10 cumulative cost reduction in favor of Medicare. In contrast, 90ct medications showed 15/24 medications with MCCPDC cost savings. The cumulative cost difference was $309.1 million in favor of MCCPDC.
Conclusion: Our findings illustrate large potential savings observed for many common orthopedic 30ct and 90ct medications, with a more substantial cumulative cost difference observed in 90ct medications. Hence, our study highlights the potential benefits of MCCPDC in optimizing Medicare expenditures for covered drugs, potentially enhancing cost-efficiency in healthcare. A careful analysis of specific prescribed medications are needed in order to capitalize on the potential savings.
Methods: We performed a cross-sectional analysis on the price difference on gout, muscle relaxants, pain and inflammation medications, as well as steroids between MCCPDC and Medicare Part D 2021 spending data. Prices, including shipping fees, were included for tablets and capsules in the minimum quantity (30ct) and maximum quantity (90ct). The unit costs, and total savings, and standardized unit prices for 30ct and 90ct prescriptions were calculated and compared between MCCPDC and Medicare medications.
Results: Our study sample comprised 24 medications for comparison after exclusions within four different MCCPDC categories. Medicare’s expenditure for these medications totaled $1.3 billion. Cost savings with MCCPDC were shown in 10/24 of the 30ct medications, with a $800.10 cumulative cost reduction in favor of Medicare. In contrast, 90ct medications showed 15/24 medications with MCCPDC cost savings. The cumulative cost difference was $309.1 million in favor of MCCPDC.
Conclusion: Our findings illustrate large potential savings observed for many common orthopedic 30ct and 90ct medications, with a more substantial cumulative cost difference observed in 90ct medications. Hence, our study highlights the potential benefits of MCCPDC in optimizing Medicare expenditures for covered drugs, potentially enhancing cost-efficiency in healthcare. A careful analysis of specific prescribed medications are needed in order to capitalize on the potential savings.
| Original language | American English |
|---|---|
| Pages | 110 |
| State | Published - 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 2024 → 17 Feb 2024 https://medicine.okstate.edu/research/research_days.html |
Conference
| Conference | Oklahoma State University Center for Health Sciences Research Week 2024 |
|---|---|
| Country/Territory | United States |
| City | Tulsa |
| Period | 13/02/24 → 17/02/24 |
| Internet address |
Keywords
- orthopedic medications
- Medicare pricing
- cross-sectional analysis