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Key Takeaways Mark Cuban said this week that employers should rely on AI to look through healthcare contracts.
He said AI could help determine where they are being taken advantage of or overpaying for healthcare.
He encouraged all employers to run “every healthcare contract you have” through AI chatbots like Claude.
Billionaire entrepreneur Mark Cuban says that employers looking to minimize healthcare costs should turn first to an AI chatbot.
The famous former Shark Tank investor spoke on an episode of the Digital Health Heavyweights podcast that aired earlier this week. He asserted that AI chatbots like ChatGPT, Claude and Gemini can quickly look through complicated healthcare contracts and pinpoint where companies are most vulnerable. In other words, ChatGPT can help employers save money by identifying where they are overpaying for healthcare.
“Run them all. Every healthcare contract you have run through Claude or whatever, and just say, ‘Where am I getting ripped off?'” Cuban said.
AI chatbots have a greater attention span than human beings, according to Cuban. They are able to parse through the terms of a contract and help employers understand what they are paying for.
“Our eyes roll back in our heads whenever we try to get into the minutiae and the small print of all these 100-page contracts or more,” Cuban said. However, he cautioned that “every single definition, every single word in your contract” functions “to take advantage of you.”
Cuban is taking on the healthcare industry with his startup, Mark Cuban Cost Plus Drug Company, an online pharmacy focused on generic medications. Launched in 2022, it now offers thousands of generic drugs.
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