GoodRx

Jim Rosenow

Jim Rosenow

Line Up and Wait
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Nov 8, 2014
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Jim Rosenow
Anybody used their coupons? From their website, it looks like...pick the pharmacy with the lowest 'GoodRx' coupon price, have the prescription sent there, show them the coupon you download, and voila, save major $$s.

So what's the catch/profit motive? Does it work? Thanks!

Jim

edit...and there's gotta be a profit motive. Wiki says 2 of the 3 founders left FB for the Rx gig.
 
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Sorry, I couldn't resist. :oops: Here's the real answer:


How Does GoodRx Make Money?
Although their service is free to use, GoodRx still makes money.

They have three key sources of revenue.

  • Advertisements. Corporations compete to buy ad space on the platform, and with good reason! Millions of people visit GoodRx every day, which means huge exposure for advertisers.
  • Referrals. GoodRx actually receives a payment for each coupon that patients use. These coupons encourage patients to fill their prescriptions at a specific pharmacy. Pharmacies pay GoodRx directly for these referrals.
  • GoodRx Gold. This is GoodRx’s premium subscription service. It costs $5.99/month for an individual and $10.99/month for a family of up to 5 people. There are thousands of exclusive coupons available only to Gold members. GoodRx Gold is a great deal for those who have multiple monthly prescriptions.
GoodRx also makes a small portion of its money from its subsidiary telemedicine provider HeyDoctor, now called GoodRx Care.
 
Thanks for the laugh, Wayne....and especially the link!

Jim
 
From the viewpoint of an independent pharmacist. When we process these cards, they lower the price of a prescription down to our cost to actually buy the product. Then they charge us a fee to process the prescription to their discount card program (5 to 10 dollars), so we are in essence paying the discount card company to fill that patient's Rx. A larger chain will accept this because they figure they will make it up at the front end when you buy that 20 feet of garden hose you needed :).

At our pharmacy, we will just match the advertised price and avoid sending your info to the GoodRx company.
 
Great info, Kwise01...thank you! Curiosity question...When you say 'advertised price' do you mean you match your advertised store price or the 'advertised on the' coupon price? Feeling especially dense this morning....

Jim

Oh.....and welcome aboard the forum!!
 
Amazing range of pricing for the same prescription.....like $15 to $350 for different well-known pharmacies! Anyone venture why that is....some places just won't play?

Jim
 
I have used it a few times over the last few years with good results. It can take a little extra time but it's worth it. The hardest part of the process is getting a paper Rx so you can shop around as the systems are all set up to send Rx electronically...
 
Kwise01 said:
From the viewpoint of an independent pharmacist. When we process these cards, they lower the price of a prescription down to our cost to actually buy the product. Then they charge us a fee to process the prescription to their discount card program (5 to 10 dollars), so we are in essence paying the discount card company to fill that patient's Rx. A larger chain will accept this because they figure they will make it up at the front end when you buy that 20 feet of garden hose you needed :).

At our pharmacy, we will just match the advertised price and avoid sending your info to the GoodRx company.
Click to expand...

Curious about something.

I've used GoodRx in the past. I also use a supermarket pharmacy to fill the order because I can walk there and get groceries at the same time.

Amusingly, when I am on a "full fat" health insurance program, they will toss me the drugs and I am out the door when I refill a prescription.

When I use the GoodRx or am on a "low pay" health insurance program like a medicare derivative, without fail, I will need a "consult" with the pharmacist before I get my drugs, even if they're a refill on something I've been popping for nearly a decade. Every time.

I assume that this is to bill for the consult to make up this dreaded loss of revenue. Is that right, or is something else going on?

I've nearly challenged the pharmacist on his walking over, asking "have you taken these before?" "you know I have", "okay, here ya go" consulting fee, but decided better not to rock the boat. :D But I've smelled a lot of fish with that situation.
 
Jim Rosenow said:
Great info, Kwise01...thank you! Curiosity question...When you say 'advertised price' do you mean you match your advertised store price or the 'advertised on the' coupon price? Feeling especially dense this morning....

Jim

Oh.....and welcome aboard the forum!!
Click to expand...

Thanks for the welcome! We will generally match the GoodRx price that they have given to you on their website unless it's way below our cost.

For the pharmacist consultation, we usually don't get any consulting fees for those standard consultations at pickup. I'm not sure why they are flagging a refill for consultation unless it is a yearly renewal (making it "new" according to the computer). If it is a blood pressure, diabetes, or cholesterol medication then maybe they are getting a small incentive to make sure you keep taking them as directed and are not skipping doses :). For patients with complicated regimens we can do whats called an MTM consult, but that is usually a sit-down or long phone conversation. And both of these programs are usually associated with being on a Medicare Part D plan or some other full coverage plan. The only other possibility I can think of is that they are doing that just as a final verification step, having the pharmacist eyeball it one more time to make sure that right person is getting the right Rx.
 
idahoflier said:
I have used it a few times over the last few years with good results. It can take a little extra time but it's worth it. The hardest part of the process is getting a paper Rx so you can shop around as the systems are all set up to send Rx electronically...
Click to expand...
My doc introduced me to GoodRx the last time I was in. He actually pulled up the drug he was about to write and showed me the prices around my house so I could picked the pharmacy I wanted. Actually saved me $$$ over just sending it to my usual Walgreens.
 
Used it for years, never had a problem on hundreds of transactions except one independent guy who couldn’t wait for my project to end so I’d leave the area.

probably saved 300 a month between the various Rx (large family, none for me FAA)
 
Lindberg said:
My doc introduced me to GoodRx the last time I was in. He actually pulled up the drug he was about to write and showed me the prices around my house so I could picked the pharmacy I wanted. Actually saved me $$$ over just sending it to my usual Walgreens.
Click to expand...

In my area Walgreens is always the most expensive of the corporate options, maybe more than most independents too.
 
I have been using it for years.

We are self employed and have very high deductibles. My son needed a prescription and it was sent to Kroger. Kroger's price was around $200.

I googled the drug and price. GoodRx popped up in the search.

It was $29 at another pharmacy. I had the doctor call it into that pharmacy.

When I am at the doctor (more PAs/NPs these days), I ask what they are going to prescribe and dose, enter it into the app, and have them e prescribe to the cheapest pharmacy. I have never had a provider balk at it. No paper scrip needed.
 
I’ve used it a couple times for scripts not in my insurance formulary. Nothing exotic. All the prices for listed pharmacies are very similar so I use my usual place, Kroger’s.

Cheers
 
I keep a link on my cpu when in with patients to look up costs to help them out. It is amazing some of the deals you can find on there. Discussing costs of medications is just one of the many metric goals.
 
Love reading their app change logs, someone has an active imagination
 
schmookeeg said:
I've nearly challenged the pharmacist on his walking over, asking "have you taken these before?" "you know I have", "okay, here ya go" consulting fee, but decided better not to rock the boat. :D But I've smelled a lot of fish with that situation.
Click to expand...
@schmookeeg If you weren't on those powerful anti-psychotic drugs.......... :D:D:D
 
I saw a commercial on Tv for prescription insurance? Who buys that?

Lots of prescription discount cards available. I check with GoodRx every now and then just to find out my current discount card is in the ball park. Most of the pharmacies here have discount cards next to the pay window to pick up and use.
 
Until now my prescription routine had been the Doc asking where I wanted my prescription sent, go there, pay for it.

This time I had Doc give me a paper prescription, I researched Goodrx, and did some leg work. The place I normally had Doc send the scrip to wanted $128. Walmart was....ready for this....$17 for the same scrip. Presented the scrip and coupon at Walmart (a pic of it actually).....no problemo...here ya go!

Seemed worth the bother to me

Jim
 
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