Moris Frech

[Mark Cuban @mcuban]

Share this with your governor. Share this with every politician you know. It will cut the healthcare costs in your state.

We started Cost Plus Drugs because the prescription drug market is too complicated, too opaque and too expensive.
Our model is simple: we show what we pay for a drug, add a transparent markup and pharmacy fee, and show the customer the price.
No games. No hidden spread.
And a large percentage of our customers already have insurance.
They come to us because our cash price is often lower than what their insurance plan asks them to pay.
That tells you something is wrong.
Here are five things Texas can do about it.
1. Let patients shop for cheaper drugs
If someone's insurance says a prescription costs $500, but they can buy the exact same drug for $100 cash, let them buy it for $100.
Then credit that $100 toward their deductible and out-of-pocket maximum wherever Texas has authority to do so.
Patients should be rewarded for saving themselves and their health plan money.
They shouldn't be punished for it.
That's how you create something healthcare desperately needs:
Price competition.
2. Standardize PBM and TPA contracts
Texas should require the state, cities, counties and school districts to use standardized model contracts and mandatory terms for PBMs and TPAs.
I've reviewed these contracts.
They routinely run hundreds of pages.
I've seen contracting packages longer than a thousand pages.
There is no human being—or group of human beings—on this planet who can stay awake and understand every provision in contracts that complicated.
I don't care how much coffee they drink.
I call it contractual terrorism.
The vendor only has to sneak a couple of tricks through hundreds of pages.
The employer has to find every one.
It can't.
I've developed a model PBM contract designed to eliminate the major tricks and hidden economics we've identified.
Texas can have it for free.
Use mine. Improve it. Open source it.
I don't care.
Just stop making every government entity negotiate these contracts from scratch.
3. Make the economics public
If taxpayers are paying the bill, taxpayers should know the price.
Pricing. Fees. Rebates. Guarantees. Pharmacy reimbursement. Affiliate compensation. Audit rights.
Make them public.
I'm not talking about patient information or legitimate security information.
I'm talking about the money.
You cannot have an efficient market without price discovery.
Without price discovery, you get information asymmetry.
And when one side knows dramatically more than the other, guess who wins?
Not taxpayers.
Not employers.
Not patients.
Open the contracts up and let competitors see what they have to beat.
That giant sucking sound you hear will be money moving away from healthcare conglomerates that are too big to care and back toward taxpayers, employers and patients.
In the immortal words of Charles Barkley:
I guarantee it.
4. Kill the gag clauses
PBM contracts are like Fight Club.
The number one rule of Fight Club is that you can't talk about Fight Club.
The number one rule of many PBM contracts seems to be that you can't talk about your PBM contract.
That's insane.
Let employers compare pricing, rebates, fees, guarantees and reimbursement terms.
Markets work better when buyers know what other buyers are paying.
5. Make enforcement hurt
If a healthcare company commits a serious violation, give them one mulligan.
But after a second material federal or Texas enforcement action within a defined period, make them ineligible for new Texas government contracts for a period of time.
Two strikes.
You're out.
Today, some of these companies can make billions, get caught, pay a fine and write it off more easily than I wrote off an NBA fine.
That's not deterrence.
That's a cost of doing business.
And Texas should spend more on enforcement.
If Texas spends $10 million auditing contracts and analyzing claims and prevents $100 million in unnecessary spending, that's not overhead.
That's a 10x return on investment

[Bill Ackman @BillAckman]

One of the greatest matches ever and very few got to see it live. This needs to be fixed now. It is unfair to the players, the fans, the sponsors, and the sport.

[Bill Ackman @BillAckman]

Kind, Disney and 47 Brand should hire this guy.

[Mikhail Khodorkovsky @khodorkovsky_en]

A fuel crisis keeps spreading across Russia.

I ran the country's largest oil company. Let me explain what is actually happening — and why the Kremlin cannot stop it. 🧵[1/12]

[John Cleese @JohnCleese]

Very funny

[Jaynit @jaynitx]

https://t.co/anK4FdKKdx

[Novak Djokovic @DjokerNole]

An epic battle, Joao. And a hard-fought victory you deserve. Best of luck for the rest of the tournament and the incredible career you have ahead of you. 

As for Paris… tu as mon coeur 🫶🏼

[Kevin | Large Fam Dad @LargeFamDad]

My boss's boss is like 42, never married, no kids. Earns $275-300K per year. Goes on a minimum of two international vacations a year w/ his girlfriend. 10+ days, all out.

Eats the best food, stays in top notch accomodations. Excursions, tours, nicest beaches, etc.

Great guy, I'm happy for him.

But what I've realized is that without kids, you end up chasing a lifestyle that has to continually be topped in order for you to be satisfied and find happiness.

What he and others like him don't understand is that when you have children, seeing THEM experience life's most basic things and watching their eyes light up at all the "firsts", brings greater pleasure and joy than any vacation or travel experience ever could.

Seeing THEM try blueberries for the first time is greater than dining at the best 5 star restaurant in Europe.

Seeing THEM learn how to walk is greater than walking the Great Wall of China or strolling along the most picturesque beach.

Watching THEM giggle uncontrollably at "peek-a-boo" tops any A-list comedian act.

Seeing THEIR excitement when building a fort out of cardboard boxes and making a door big enough for daddy is superior to staying at 5-star resorts.

Flying kites with THEM far outweighs excursions like parasailing or helicopter rides.

Seeing THEM perform a recital on stage for the first time is more rewarding than watching a Broadway show or top notch symphony orchestra.

-----------------

When you have children, all of a sudden you realize that life's greatest joys are not in the pursuit of things or pleasure or travel, but rather in the LOVE and bond you share with your very own image bearers.

Seeing the beauty and magnificence and wonder of life all over again for the first time through THEIR eyes and expressions gives you something the world simply cannot offer, nor even come close.

[Sam Altman @sama]

Today we launched a new product called ChatGPT Agent.

Agent represents a new level of capability for AI systems and can accomplish some remarkable, complex tasks for you using its own computer. It combines the spirit of Deep Research and Operator, but is more powerful than that may sound—it can think for a long time, use some tools, think some more, take some actions, think some more, etc. For example, we showed a demo in our launch of preparing for a friend’s wedding: buying an outfit, booking travel, choosing a gift, etc. We also showed an example of analyzing data and creating a presentation for work.

Although the utility is significant, so are the potential risks.

We have built a lot of safeguards and warnings into it, and broader mitigations than we’ve ever developed before from robust training to system safeguards to user controls, but we can’t anticipate everything. In the spirit of iterative deployment, we are going to warn users heavily and give users freedom to take actions carefully if they want to.

I would explain this to my own family as cutting edge and experimental; a chance to try the future, but not something I’d yet use for high-stakes uses or with a lot of personal information until we have a chance to study and improve it in the wild.

We don’t know exactly what the impacts are going to be, but bad actors may try to “trick” users’ AI agents into giving private information they shouldn’t and take actions they shouldn’t, in ways we can’t predict. We recommend giving agents the minimum access required to complete a task to reduce privacy and security risks.

For example, I can give Agent access to my calendar to find a time that works for a group dinner. But I don’t need to give it any access if I’m just asking it to buy me some clothes.

There is more risk in tasks like “Look at my emails that came in overnight and do whatever you need to do to address them, don’t ask any follow up questions”. This could lead to untrusted content from a malicious email tricking the model into leaking your data.

We think it’s important to begin learning from contact with reality, and that people adopt these tools carefully and slowly as we better quantify and mitigate the potential risks involved. As with other new levels of capability, society, the technology, and the risk mitigation strategy will need to co-evolve.

[JC Christopher @JCChristopher]

Tesla Robotaxi stops for a man who veered off the sidewalk and onto the road as @JoeTegtmeyer and I were approaching Zilker Park earlier today. The stop was smooth and our Tesla Robotaxi allowed him to get back on the sidewalk and continue with our journey. This man is likely oblivious to what the team at @Tesla_AI did for him today.

[Elon Musk @elonmusk]

I’m sorry, but I just can’t stand it anymore.

This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.

Shame on those who voted for it: you know you did wrong. You know it.

[Maye Musk @mayemusk]

Yes! 😍😍

[Jon Favreau @jonfavs]

An American pope who fights with JD Vance on Twitter?

I am so in

[Moris Frech @moristennis]

@mayemusk @elonmusk Love that he found the time the time to celebrate his mom, blessings

[Moris Frech @moristennis]

Why do we need 535 members of congress?
@Elon Musk, big savings, cut it by 3/4

[Stephanie Ruhle @SRuhle]

I cannot get over this.

[Moris Frech @moristennis]

@elonmusk The country is already broke and both parties could care less.

[Chris Evert @ChrissieEvert]

Omg….🙏🙏🙏

[Chris Evert @ChrissieEvert]

👏👏👏👏👏great job, ladies! 👊💪