Michael welcomes Erin Albert, Chief of Pharmacy Relations, Network and Professional Affairs at Mark Cuban’s Cost Plus Drugs, to explain why U.S. drug pricing is so opaque and how transparency can lower costs. Albert shares how she joined the company after publishing LinkedIn price comparisons sparked by imatinib pricing, and describes her background as a pharmacist and attorney. She breaks down how pharmacy benefit managers (PBMs) evolved from claims processing into powerful middlemen, driving costs through rebates tied to formulary placement and “spread” pricing, especially on generics. The conversation covers vertical integration, state policy efforts, employer incentives that favor bundled solutions, pharmacy closures and “pharmacy deserts,” and why education should include “following the money.” Albert outlines Cost Plus’s cost-plus math, fair dispensing fees, and options for consumers via CostPlusDrugs.com, TeamCubanCard.com, and CostPlusWellness.com, urging patients to shop cash prices versus insurance copays.


Timestamps:
00:24 Welcome and Setup
01:31 Erin Albert Origin Story
04:49 How Pharmacy Pricing Works
08:28 Transparency and PBM Tactics
11:09 Policy and Vertical Integration
16:47 Building a Fair Pharmacy Network
20:40 Education and Medical Benefit Markups
24:05 Pharmacists as Clinicians
27:58 Trends and Sustainable Pricing
29:35 How Consumers Take Power Back
31:29 Key Takeaways and Resources
33:38 Closing

Connect with Erin:
https://www.linkedin.com/in/erinalbert/
https://linktr.ee/erinalbert
https://www.markcubancostplusdrugcompany.com
https://www.costplusdrugs.com