Expion Health Announces Innovative Partnership with Mark Cuban Cost Plus Drug Company to Enhance Pharmacy Cost Management
Expion Health and Mark Cuban Cost Plus Drug Company, PBC announced an innovative partnership on November 27, 2023, aimed at enhancing pharmacy cost management capabilities by integrating Cost Plus Drugs' transparent pricing model to tackle the ongoing increase in specialty drug expenses.
Today, Expion Health, a pioneer in leveraging powerful technology and dynamic pricing strategies, announced a new partnership with Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs).This strategic alliance will integrate Cost Plus Drugs' revolutionary pricing model into Expion Health's portfolio, offering an innovative path to address the continued rise in specialty drug costs.
“By partnering with Cost Plus Drugs, we are strengthening our purchasing capabilities and enhancing transparency in pharmacy cost management,” said Karin Humphrey, CEO of Expion Health. “This collaboration reflects our vision to explore diverse pricing paths and provide better cost options for consumers.”
Given that specialty drugs account for51%of pharmacy spending, the market demand for innovative solutions is clear. Expion Health'sSpecialty Navigator solutionnow incorporates Cost Plus Drugs' unique pricing approach, providing payers with a sophisticated tool to navigate today's complex environment.
Chris Westbrook, Chief Customer Officer at Expion Health, emphasized the importance of innovation in this space: “With specialty drug prices soaring, our relationship with Cost Plus Drugs demonstrates our commitment to delivering efficient, affordable solutions. Together, we are rewriting the narrative of drug costs and setting a new industry standard.”
“We are excited to partner with Expion Health to bring lower prescription drug prices to consumers,” said Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company. “Cost Plus Drugs and Expion Health share a common goal: to provide consumers with the lowest possible prescription drug prices. With Cost Plus Drugs, consumers can be confident they are getting a fair price and enjoy the convenience of medications delivered directly to their door.”
This partnership symbolizes a shared vision for the future of pharmacy cost management, bringing hope for more accessible medication solutions.
About Expion Health
Expion Healthis a pioneer in creating exponential value, combining the power of technology with multiple pricing paths to unlock significant savings in pharmacy and medical claims. With over 30 years of experience reducing costs for health plans, PBMs, TPAs, and self-insured employers, Expion uses the most accurate, up-to-date data to address the complex factors driving healthcare costs. At the core of Expion Health's innovative solutions is the ExpionIQ platform, which integrates artificial intelligence, automation, and advanced analytics to create powerful tools that uncover savings opportunities while ensuring compliance with complex regulations. Learn more:https://expionhealth.com/。
About Mark Cuban Cost Plus Drug Company
Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs) aims to fundamentally change how the pharmaceutical industry operates. As a public benefit corporation, its social mission to improve public health is as important as profitability. Cost Plus Drugs charges a standard transparent markup on every drug it sells. The costplusdrugs.com online pharmacy launched in January 2022 and now offers over 1,000 prescription products, delivered by mail to thousands of satisfied customers every day. Cost Plus Drugs is working with health plans, managed care organizations, pharmacy benefit managers (PBMs), and self-insured employers to bring the same savings to employer-sponsored benefit plans nationwide.