Get Lower Drug Prices (For Real)
🚀 The quick version: Rising drug prices continue to be a massive problem for families with a recent CDC report claiming that 9 million Americans are not taking medications because of their cost.
Twitter is trying to shake things up.
This past week Elon Musk and Mark Cuban made headlines on the platform tweeting around a possible collaboration and bringing attention to Cuban’s new company, Cost Plus Drugs. The company caught Musk’s attention in a tweet and so he asked about it. The two naturally got into a conversation in front of 150 million combined followers about drug pricing and how Cost Plus Drugs could help people find a cheaper alternative.
The exchange concluded with Cuban encouraging Musk to move Tesla and SpaceX employees (around 144,000 in total) to the platform as a way to save money with Musk responding that he would seriously look into it. Others chimed in and as a result, more and more people are aware of this possible solution just because of a tweet.
👪 How it affects your family: One interesting point to us from the exchange is the example and power of social media to actually spread awareness on positive things every once in a while (who knew?).
In addition, one of the lessor talked about positives from Covid we continue to see around healthcare is the rapid increase in venture capital investment in the sector. In the first quarter of this year alone we saw $6.8 billion invested into the space (a record) which should lead to exciting new advances in the years to come.
Healthcare is changing and costs are going to come down in many areas. And here are are some steps you can take for your family today:
If you have older parents, grandparents, are an employee or a business owner check out Cost Plus Drugs. We have no affiliation with them, but after investigation they do offer many medications cheaper than a traditional pharmacy. Downsides as we see it right now are their selection (which is limited) and they don’t currently accept a lot of insurance (although they are constantly adding).
Think about ways within your own family to lower healthcare costs. If you need some ideas we run through 15 quick ways to save money on healthcare.
As noted above, with all of the money now flowing into healthcare start up companies, it’s important to keep at least a passing eye on the headlines of major news publications for advances coming that could benefit your family (here are some healthcare start up trends to watch in 2023).
