Entrepreneur Mark Cuban is questioning how the American healthcare industry sets prices. In a recent post on X (formerly Twitter), Cuban questioned why insurance providers pay $2,500 for an MRI scan when nearby facilities offer the same procedure for $350.
His post sparked a wave of similar stories from people who found that paying cash was often hundreds of dollars cheaper than using their insurance. Reports from the financial news site Benzinga confirmed these stories, noting that many patients saved money by simply not using their insurance.
Pushing for Industry Reform
Cuban says these cost differences are just one example of a larger problem. He points to pharmacy benefit managers—the companies that handle how insurance plans pay for medicines. These companies negotiate drug prices and decide which medicines insurance plans will cover.
He urged Congress to stop companies from owning both insurance providers and pharmacy benefit managers. He argued that keeping these businesses separate would lead to more honest pricing and give consumers more power. Currently, the same large corporations often own both types of businesses.
Efforts to Lower Costs
This effort is part of Cuban’s larger goal to lower healthcare expenses. He co-founded Cost Plus Drugs, an online pharmacy that cuts costs by removing middlemen from the prescription drug business.
By highlighting these price differences and the influence of middlemen, Cuban aims to show where the system is failing. He believes current regulations encourage high prices and hopes that separating these businesses will lower costs for everyone.
