HALO Precision DiagnosticsTM, a leader in early disease detection, is committed to providing patients with affordable and accessible healthcare solutions. A recent study published in the Journal of Urology highlights the potential savings of The Mark Cuban Cost Plus Drug Company, which could save Medicare patients $1.29 billion annually on prescription drugs for urological issues. The study focused on nine commonly prescribed urological medications, including drugs used to treat prostate cancer, a condition that HALO Precision Diagnostics specializes in detecting and treating.
By offering comprehensive early disease detection programs, including for prostate cancer, HALO is improving patient outcomes and reducing the financial burden associated with healthcare. For prostate cancer patients, HALO offers a range of minimally invasive treatments, such as TULSA-Pro and laser focal therapy, that ensure a better quality of life for patients. HALO’s commitment to patient-centered care and prevention is in line with The Mark Cuban Cost Plus Drug Company’s goal of reducing drug costs for patients and taxpayers, further demonstrating HALO’s dedication to improving healthcare for all.
If you or a loved one is struggling with prostate cancer symptoms, HALO Precision Diagnostics’ team of prostate health professionals offers free consultations and advanced treatments that are effective and affordable. By combining early disease detection with affordable treatment options, HALO is setting a new standard for healthcare, ensuring that patients can access high-quality care without breaking the bank. To learn more about HALO Precision Diagnostics and its services, visit www.halodx.com.
Study: Mark Cuban’s Cost-Plus Drug Pricing Model Could Save Medicare Patients $1.29 Billion Per Year
Source: Journal of Urology Link: https://www.jurology.com/article/S0022-5347(21)05894-5/fulltext
Americans who use Medicare for prescription drugs may have a new reason to celebrate: a study published in the Journal of Urology has found that a fledgling drug company could save patients $1.29 billion each year on prescription drugs.
The study, conducted by researchers at Vanderbilt University Medical Center, evaluated the medication prices set by The Mark Cuban Cost Plus Drug Company, a new prescription drug manufacturer founded by the titular entrepreneur. The results take into account a company policy that sets drug prices based only on cost of manufacturing plus a 15% markup as well as standard fees of $5 for dispensing and $3 for shipping. This yields promising cost reductions for prescriptions.
So How Much Can We Save?
“We found that if the U.S. government used Mark Cuban’s cost-plus drug pricing model to supply urological drugs to Medicare patients, they would save taxpayers an estimated $1.29 billion,” lead author Ruchika Talwar, MD, a fellow in Urologic Oncology at VUMC, said in a statement.
“It means that patients would be able to get their drugs more affordably, but also means that taxpayer funds could go toward other important issues and hopefully save us all some money in general.”
Which Medications Are Involved?
The study itself examined the cost of nine commonly prescribed urological medications: tamsulosin, finasteride, oxybutynin, alfuzosin, solifenacin, tolterodine, sildenafil, tadalafil, and abiraterone. Doctors prescribe the drugs to address everything from overactive bladders to erectile dysfunction. All nine of the drugs are commonly prescribed to patients dealing with the effects of prostate cancer.
Using the drug prices set by The Mark Cuban Cost Plus Drug Company, researchers examined a model of a 90-day supply for each prescription. The results found that Medicare patients—and taxpayers—would save between 48.7% to 99.2% of current costs. For example, in the case of abiraterone, a testosterone inhibitor commonly used by prostate cancer patients, savings amounted to a whopping $656 million, or roughly 52% of the current price.
“Just by changing the way [abiraterone] was purchased, we could convey a benefit of more than $650 million in cost savings to taxpayers,” Ruchika Talwar further elaborated. “The impact of this could be astronomical across all cancers … any sort of oral, generic drug available through Mark Cuban’s company can be a lot cheaper for many patients, not just Medicare patients, through this program. And taxpayers are the ones who fund Medicare drug spending.”
What Does It All Mean for Patients?
Lowered costs for urological medications should bring the brightest news to prostate cancer patients who rely on the aforementioned drugs to treat symptoms and complications of the disease. Affordable and convenient access to these medications not only relieve stress caused by the financial burdens of traditionally expensive drugs, but peace of mind as well.
If you or a loved one is struggling from prostate cancer symptoms, we encourage you to reach out to HALO Precision Diagnostics team of prostate health professionals for a free consultation. Additionally, HALO offers minimally invasive prostate cancer treatments, such as TULSA-Pro and laser focal therapy, that ensure a better quality of life for our patients. Contact us today to learn more!