Mark Cuban Says AI Tools Can Help Prevent Businesses From Getting ‘Ripped Off’ By Health Insurers
Billionaire entrepreneur Mark Cuban said Monday that employers can use artificial intelligence tools to ensure healthcare contracts cannot be "used to take advantage" of them.
Billionaire entrepreneur Mark Cuban said Monday that employers can use artificial intelligence tools to ensure healthcare contracts cannot be “used to take advantage” of them.
Cuban suggested during an interview on the “Digital Health Heavyweights” podcast released Monday that employers can use large language models (LLMs) such as Anthropic’s Claude to examine huge healthcare contracts and highlight areas where they are potentially overpaying. LLMs refer to AI systems that can understand and produce human language by processing sizable amounts of text data, according to IBM.
“Your contract, your insurance contract, run them all. Every healthcare contract you have run through Claude or whatever, and just say, ‘Where am I getting ripped off?'” Cuban said during the interview.
“Always on spread pricing, the price they pay the pharmacy versus what they charge you … versus when you get your rebates back whether or not they retain any rebates. They’ll do things like they’ll classify rebates differently from fees so what they’ll say is, ‘Yeah, this is what a rebate is, but it only applies to brand medications, doesn’t apply to specialty ,'” Cuban added.