Unique Initiative Harnesses Dynamic Pricing and Technology to Address Rising Specialty Drug Costs
GAITHERSBURG, Md., Nov. 27, 2023 /PRNewswire/ — Today, Expion Health, a pioneer in leveraging powerful technology and dynamic pricing strategies, unveiled its new collaboration with Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs). This strategic alliance will integrate Cost Plus Drugs’ revolutionary pricing into Expion Health’s product suite, offering an innovative way to tackle the escalating costs of specialty drugs.
Karin Humphrey, Chief Executive Officer of Expion Health, spoke on this new venture: “By teaming up with Cost Plus Drugs, we’re amplifying our sourcing capabilities and deepening transparency in pharmacy cost management. This collaboration echoes our ambition to explore diverse pricing pathways and offer better cost options for consumers.”
With specialty drugs accounting for a significant 51% of pharmacy spend, there’s a clear need for inventive solutions. Expion Health’s Specialty Navigator, now enhanced by Cost Plus Drugs’ distinctive pricing approach, equips payers with a sophisticated tool for navigating this modern landscape.
Chris Westbrook, Chief Client Officer of Expion Health, emphasized the importance of innovation in this space: “In today’s environment, where specialty drug prices are skyrocketing, our relationship with Cost Plus Drugs embodies our commitment to provide efficient, cost-effective solutions. Together, we’re reshaping the narrative around drug costs, setting a new industry standard.”
“We are excited to work 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 of providing consumers the lowest possible price for their prescription medication. With Cost Plus Drugs, consumers can be confident they are getting a fair price and the convenience of medication mailed directly to their homes.”
This collaboration symbolizes a shared vision for the future of pharmacy cost management, fostering optimism for more accessible medication solutions.
About Expion Health
Expion Health, pioneers in creating exponential value, combines the power of technology and multiple pricing pathways to unlock significant savings across pharmacy and medical claims. Leveraging 30+ years of experience to drive cost savings for health plans, PBMs, TPAs, and self-insured employers, Expion uses the most accurate and current data to address complex factors driving healthcare costs. At the heart of Expion Health’s innovative solutions is the ExpionIQ platform, which brings together artificial intelligence, automation, and advanced analytics to create powerful solutions for unlocking savings opportunities while ensuring compliance with complex regulations. Learn more at https://expionhealth.com/.
About Mark Cuban Cost Plus Drug Company
The Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs) aims to fundamentally change the way the pharmaceutical industry operates. As a public-benefit corporation, its social mission of improving public health is just as important as the bottom line. Cost Plus Drugs transparently charges a standard markup on every drug it sells. The costplusdrugs.com online pharmacy launched in January 2022 now carries over 1,000 prescription products, delivered by mail to thousands of happy customers every day. Cost Plus Drugs is working with health plans, managed-care organizations, pharmacy benefits managers (PBMs) and self-insured employers to bring these same savings to employer-sponsored benefit plans nationwide.
SOURCE Expion Health