Intermountain Healthcare’s subsidiary, Select Health, is teaming up with Mark Cuban’s Cost Plus Drugs and pharmacy benefit manager Scripius to offer more affordable prescription medications to Select Health members. This collaboration aims to empower consumers by providing transparency in drug pricing and access to cost-effective options. Members will have access to over 1,000 prescription products, potentially at lower prices than traditional pharmacies. Cost Plus Drugs, launched in 2021, seeks to reduce medication costs by reflecting manufacturer prices plus a flat fee, partnering with various healthcare entities.
Intermountain Healthcare’s subsidiary, Select Health, has forged a strategic alliance with Mark Cuban’s Cost Plus Drugs, in collaboration with their pharmacy benefit manager, Scripius. Together, they aim to provide Select Health members with access to more affordable prescription medications.
The primary objective of this partnership is to empower consumers by helping them comprehend the true costs associated with their prescriptions and facilitating access to competitive pricing.
Rob Hitchcock, President and CEO of Select Health, expressed, “At Select Health, our mission revolves around enhancing the well-being of our members. This partnership is a significant stride towards fulfilling our mission by making healthcare more economically accessible to the communities we serve. We are dedicated to assisting our members in finding the most cost-effective drug options.”
Under this collaboration, Select Health members will gain access to an extensive range of over 1,000 prescription products, including medications for conditions like high blood pressure, certain cancers, dementia, asthma, and diabetes. These medications may potentially be available at lower prices compared to traditional pharmacy outlets, according to a press release.
Select Health, a nonprofit health plan serving over 1 million members in the Mountain West region, has Scripius as its pharmacy benefit manager. Scripius is committed to providing transparency in pricing for plan sponsors and members while offering an alternative to the major pharmacy benefit managers in the industry.
Alex Oshmyansky, CEO of Cost Plus Drugs, who is also a practicing physician, emphasized, “Having witnessed firsthand the challenges patients face when they cannot afford their medications, we are thrilled to collaborate with Select Health and PBMs like Scripius. Our goal is to further reduce the financial burden on patients and maintain complete patient records, both from a clinical and financial perspective.”
Cost Plus Drugs, launched in January 2021 to offer cost-effective alternatives to expensive generic drugs, quickly gained popularity. It introduced its online pharmacy in early 2022, to bypass intermediaries and markups, and instead, provide medications at actual manufacturer prices plus a flat fee. The company has formed partnerships with pharmacy benefit managers, self-insured employers, pharmacy navigation startups, and other healthcare entities.
