Penn Medicine has enlisted Mark Cuban Cost Plus Drug Company to secure key generics for its retail pharmacy network.
Penn will lean on the Cost Plus Marketplace for 100 of the most frequently dispensed drugs, including blood thinners, cancer treatments, asthma medications and antibiotics. Penn's pharmacy network has 16 locations that fill more than 1.5 million prescriptions each year, according to an announcement.
Through the Cost Plus Marketplace, healthcare organizations can buy transparently priced medications. This partnership with Penn is one of the first pushes for Cost Plus Drugs in integrating its model into health systems across the country.
Leaning on the Cost Plus Marketplace can make it easier to access affordable medications, according to the press release.
“As health systems face rising costs on many different fronts, we’re constantly looking for creative ways to be more cost-effective and simplify care delivery to meet the needs of our patients and care teams,” said Kevin B. Mahoney, CEO of the University of Pennsylvania Health System. “Cost Plus is a new model that will eliminate unnecessary mark-ups on common generic medications and allow us to reinvest those savings in care innovations that are giving patients new choices and setting new standards for medicine.”
Cost Plus Marketplace launched in 2023 and is backed by GraphiteRx.
Penn Medicine said that, while for many, their health plan determines what they pay for drugs, patients are expected to see other benefits from the program. For instance, it could make it easier to secure certain products during a shortage.
"This joint effort goes beyond cost savings—it's about empowering healthcare providers like Penn Medicine to deliver superior care by removing financial barriers to essential medications. We are thrilled to support Penn Medicine in setting a new benchmark for healthcare excellence," Mark Cuban said in the press release.