Mark Cuban’s new drug company, Cost Plus Drugs, exposes how the U.S. government spends billions of unnecessary dollars each year on Medicare.
Medicare is one of the most expensive programs in the federal government. The program is characterized by wasteful spending. The program had a budget of $644 billion in fiscal year 2019, accounting for about 14% of the total federal budget, of which the program uses more than $137 billion for prescription drugs.
In 2019, healthcare advocates pushed to create an “international pricing index” to bring drug prices in line with what other nations pay. Pharmaceutical companies fiercely oppose that legislation. American drug prices are among the highest in the world, with other countries paying a fraction of