Mark Cuban Comes to Stanford with a Diagnosis — and a Prescription — for American Healthcare

May 23, 2025 - By Rebecca Handler 

It’s not every day that a billionaire entrepreneur known for disrupting tech, dominating the NBA, and Shark Tank shows up at Stanford Medicine. But that’s exactly what happened when Mark Cuban joined Chair of Medicine Euan Ashley, MB ChB, DPhil, at the Department of Medicine’s weekly Medicine Grand Rounds.

From the moment Cuban stepped onstage, the tone was electric. Errol Ozdalga, MD, welcomed him with warmth and humor, noting that Cuban was quick to respond to his cold email invitation. “I wasn’t even sure it was really you,” Ozdalga said with a laugh. “Then you showed up.”

What followed was a candid, at times urgent conversation that blended Cuban’s entrepreneurial backstory with his current mission: fixing what he repeatedly described as the “insanely broken” U.S. healthcare system.

Cuban began by speaking from personal experience. Just two weeks earlier, he had undergone a pulmonary vein ablation for atrial fibrillation. “I want my doctors to be confident, not rushed,” he said. “And that only happens when they’re supported and fairly compensated. I want you all to be thinking, not scrambling.”

He noted how skewed financial incentives across the system — not just in medicine, but specifically in insurance — are driving many of the pressures clinicians feel every day.

From there, the conversation zoomed out to take a systems-wide view. Cuban unpacked how big insurance companies and pharmacy benefit managers (PBMs) manipulate pricing and drug formularies to their own advantage, obscuring the true cost of care from everyone involved — especially patients. “There’s no logic to it,” he said. “The hospital’s cash price is often cheaper than what the insurer negotiates. How does that make sense?”

His answer? Build a new model from the ground up. Through his company, Cost Plus Drugs, Cuban is eliminating the middlemen. By negotiating directly with manufacturers and providers, and publicly listing all prices and contracts, he hopes to inject transparency into one of the most opaque markets in the country.

“We’re up to thousands of doctors and growing,” he said. “And we publish every contract. We don’t play games.”

The model is already changing lives. Cuban shared the story of a patient who had resigned herself to stopping chemotherapy because her copay was $900 a month. “Then she found us,” he said. “And got it for $53.” The patient wrote to thank him, and to say she’d decided to keep fighting.

Beyond the business talk, Cuban also opened up about his entrepreneurial roots, starting with selling garbage bags door to door as a kid in Pittsburgh. He described couch-surfing through his twenties, teaching disco lessons to sororities, getting fired from a job for chasing a $1,500 sales lead, and then launching a software company, MicroSolutions, that he eventually sold to H&R Block for $6 million. He later co-founded Broadcast.com and sold it to Yahoo! for $5.7 billion at the height of the dot-com boom.

It was clear from the room’s energy that Cuban’s mix of storytelling, systems thinking, and practical critique struck a chord with Stanford’s medical community. Faculty, residents, and students filled the auditorium, and many stayed after to ask questions ranging from drug access to incentives for basic science research. One Stanford cardiologist even shared how he now routinely switches patients to Cost Plus Drugs, cutting their costs in half even without insurance.

Throughout the conversation, Cuban challenged the room to think bigger. He urged Stanford Medicine to lead — not only in research and innovation, but in reshaping and rethinking healthcare economics.

View the full event recording here.