Community Health Systems Expands Partnership With Mark Cuban Cost Plus Drugs
27 Giugno 2024 - 2:00PM
Business Wire
CHS-Affiliated Hospitals Begin to Purchase
Medications from the Cost Plus Drugs Marketplace
Community Health Systems, Inc. (NYSE: CYH) (“CHS”) announced
today that it is expanding its partnership with Mark Cuban Cost
Plus Drugs Company, making more medications available – at
significantly lower costs – to the Company’s affiliated
hospitals.
This new phase of the partnership taps into the Cost Plus Drugs
Marketplace, powered by GraphiteRx. The Marketplace offers hundreds
of common medications at deeply discounted prices compared to many
traditional pharmaceutical suppliers. Driven by its commitment to
make drugs affordable and to offer transparent pricing, Cost Plus
Drugs charges a 15% mark-up on the actual cost of each drug. In
many cases, savings of hundreds, or even thousands, of dollars are
available when purchasing drugs from the Cost Plus Drugs
Marketplace.
CHS-affiliated hospitals will begin by purchasing twelve drugs
from the Cost Plus Drugs Marketplace, including a variety of
antibiotics, medication used to prevent nausea in patients
undergoing chemotherapy, and pharmaceuticals administered for the
treatment of certain infections, glaucoma, acid reflux,
hyponatremia, and other conditions. Annual savings of several
hundred thousand dollars are expected initially and may grow as
more drugs are approved for purchase from the Cost Plus Drugs
Marketplace.
Additionally, as CHS identifies new opportunities for savings on
pharmaceuticals or a need for specific drugs that can help prevent
or address drug shortages, Cost Plus Drugs will work to source
those medications directly from their manufacturers.
“The benefits of this partnership are significant and include
immediate savings on drugs frequently used in the hospital
setting,” said Lynn Simon, M.D., CHS President of Healthcare
Innovation and Chief Medical Officer. “Equally important, our
collaboration is about strategically pursuing opportunities to
address a wide variety of pharmaceutical-related issues affecting
all U.S. hospitals. We have an opportunity to do things
differently, and the Mark Cuban Cost Plus Drugs team is making very
positive change possible.”
Earlier this year, CHS and Cost Plus Drugs announced that the
two companies would work together to mitigate potential drug
shortages, which are increasingly problematic for hospitals. CHS
became the first hospital organization to purchase drugs from the
new Cost Plus Drugs manufacturing plant in Dallas, Texas, which is
equipped with aseptic robotic filling lines that produce sterile
injectable medications. The first orders included norepinephrine
and epinephrine. Epinephrine is on the Food and Drug
Administration’s list of current drug shortages due to increased
demand and manufacturing delays.
The partnership is also expected to reduce pharmaceutical waste
and improve medication administration safety.
“A lot of healthcare organizations want a better, more
innovative, and more cost-effective approach to drug purchasing,”
said Alex Oshmyansky, M.D., PhD, Chief Executive Officer of Mark
Cuban Cost Plus Drug Company. “Our partnership with CHS is proving
that’s possible. We see unlimited potential to help U.S. hospitals,
physicians, insurers, and most importantly, the patients, who need
access to affordable medications.”
About Community Health Systems, Inc.
Community Health Systems, Inc. is one of the nation’s largest
healthcare companies. The Company's affiliates are leading
providers of healthcare services, developing and operating
healthcare delivery systems in 40 distinct markets across 15
states. CHS subsidiaries own or lease 71 affiliated hospitals with
approximately 12,000 beds and operate more than 1,000 sites of
care, including physician practices, urgent care centers,
freestanding emergency departments, occupational medicine clinics,
imaging centers, cancer centers and ambulatory surgery centers.
Shares in Community Health Systems, Inc. are traded on the New York
Stock Exchange under the symbol “CYH.” The Company’s headquarters
are located in Franklin, Tennessee, a suburb south of Nashville.
More information about the Company can be found on its website at
www.chs.net.
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Grafico Azioni Community Health Systems (NYSE:CYH)
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Grafico Azioni Community Health Systems (NYSE:CYH)
Storico
Da Gen 2024 a Gen 2025