SALT LAKE CITY — Mark Cuban and Chris Klomp seem quite different at first glance. Cuban is the high-profile businessman and TV star from “Shark Tank,” while Klomp is a former health IT executive turned government official, now overseeing Medicare. Yet, at the Silicon Slopes Summit, these two discussed their shared mission: making healthcare in America more affordable and accessible.
A Journey Driven by Frustration
Both men came to this goal from unique paths. Klomp grew up in Idaho, the son of a doctor. He faced personal loss when his mother died of cancer, which fueled his frustration with the healthcare system. “I was angry about it,” Klomp shared. Later, during a mission in Romania, a mentor suggested he could have a greater impact by managing healthcare rather than becoming a doctor. This inspired him to shift gears, leading him from Brigham Young University to Stanford, where he co-founded Collective Medical before taking an advisory role in the government.
Cuban’s journey was more unexpected. When people in Texas began asking him for solutions as the Affordable Care Act faced rollbacks, Cuban realized he could help. A cold email from his future co-founder, Dr. Alex Oshmyansky, opened his eyes to the pharmacy sector. “Transparency is a huge issue in healthcare,” he said, which led to the founding of Cost Plus Drugs in 2022. The company sells prescription drugs directly to consumers, aiming for lower prices and more clarity. Cuban proudly noted they’ve served over 3 million customers and expanded into drug manufacturing.
Tackling Big Pharma
Cuban and Klomp both recognize the dominance of large insurance companies and pharmacy benefit managers (PBMs) in the healthcare landscape. Cuban pointed out, “Big insurance has more control over drug prices than any of us do.” With PBMs managing pricing and negotiations, the system often favors profits over patients. Cuban advocates breaking these companies up to restore balance and competition.
Klomp, on the other hand, introduced TrumpRx.gov, designed to connect consumers with discounted prescriptions. He emphasized the government’s role in creating an environment for innovation and competition, rather than directly solving problems.
Recent Insights into Healthcare Costs
Recent studies show that nearly one in four Americans struggle to afford necessary medications due to rising prices. In fact, a report from the Kaiser Family Foundation found that nearly half of adults aged 18-64 say they or a family member have skipped medications due to cost. This backdrop underscores the urgency of the efforts by Cuban and Klomp.
The Path Forward
While their approaches differ, the theme remains: healthcare needs reform. Klomp challenged the audience to recognize their power as innovators and problem solvers. As healthcare continues to evolve, both Cuban and Klomp are working to dismantle barriers, pushing for transparency and better service for all Americans.
In summary, the Silicon Slopes Summit showcased two unlikely allies united by a commitment to reshape healthcare into a more accessible and affordable system for everyone. Their conversation highlighted the importance of diverse perspectives and the ongoing battle against inefficiencies in healthcare.
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