Delaware Health Information Network

Delaware Health Information Network on FacebookDelaware Health Information Network on LinkedInDelaware Health Information Network on TwitterDelaware Health Information Network on YouTubeDelaware Health Information Network on YouTube


Telehealth (74)

Affordable Care Act (273)

Healthcare Fraud (20)

A Healthier You (404)

Health Tech (119)

Spotlight On... (558)

Affordable Care Act

This app has saved Americans $10 billion on prescriptions so far

05/17/2019

(CNBC) – Back in 2010 Doug Hirsch, a techie who has worked at Facebook and Yahoo, had a frustrating experience trying to pick up a prescription. He went to a big chain pharmacy in Los Angeles and was told — to his dismay — that his prescription would cost $450. An experienced shopper, Hirsch decided to do a price comparison. So he went to another pharmacy, where he learned the same prescription would cost him $300. Then he went to a third, where the pharmacist tried to negotiate, asking if he had a copay card and offering to match the price at another pharmacy.

“For me this was eye-opening. I just figured it was a person in a white coat and they came up with the price. To learn there was a competitive market blew my mind,” he said.

When he got home from his pharmacy visits, he searched the drug name and price on Google only to come up empty-handed. Unlike shopping for plane tickets or shoes, drug prices can be almost impossible to find until you’re at the pharmacy trying to fill a prescription.

Hirsch’s experience led him and two other tech geeks to start GoodRx, a Santa Monica, California-based company that helps consumers find and compare prescription prices close to home or work through a free and easy-to-use app and website.

To get the information, GoodRx partners with pharmacy chains such as CVS, Target, Walgreens, Kroger and Walmart; pharmacy benefits managers (PBMs) such as Express Scripts and Caremark; and pharmaceutical companies. Individuals can now get real-time prices at 70,000 locations nationwide.

The company, which ranks No. 6 on the 2019 CNBC Disruptor 50 list, says consumers can save up to 80% with its free GoodRx Pharmacy Discount Cards, as well as through coupons on its site. The company claims that it’s helped Americans save $10 billion on prescriptions since launching in 2011.

Read the full story at cnbc.com


View Full Site
Top