Billionaire entrepreneur Mark Cuban criticized pharmacy benefit managers and health insurers, arguing that the industry's structure rewards shareholder returns over reducing prescription drug costs for employers and patients.
PBMs Face Cuban’s Criticism Over Drug Costs On Saturday, Cuban shared his criticism in a post on X, saying employers often lack the expertise and resources to replace pharmacy benefit managers (PBMs) or navigate complex contracts.
"Complexity and scale.
They don’t have the internal people who can handle changing vendors, or that can manage the complexity," Cuban wrote, adding that consultants frequently recommend "more of the junk they already got." He also said human resources departments are overwhelmed by employees facing denied medical care, leaving little time to scrutinize PBM agreements.
"The calls from that employer whose cancer treatment just got denied takes precedence over focusing on finding typos in their PBM contract," he wrote.
