For years, GoodRx has worked to improve the way consumers access prescription drugs. The service is a digital hub that helps users locate the lowest prices at pharmacies and other retail locations. With its help, patients can save up to 70% on their medications. The platform allows users to search for and compare prices at thousands of pharmacies. For a low monthly fee, members can receive a weekly email with their personalized coupon codes. While the service may be less convenient than other comparable options, it can save the average consumer thousands of dollars.
Founded in 2013, GoodRx has experienced leadership and is tapping into a growing consumer need. Each year, the United States spends over $500 billion on prescription drugs. The average person pays $1,200 for medications, more than most other developed nations. With this in mind, a company like this can help consumers make better decisions about their medications. This app's goal is to make prescription drugs more affordable for consumers. But how can GoodRx achieve this goal?
In 2011, Hirsch launched GoodRx. At that time, the site showed the cost of prescription drugs at different retail locations. It guided consumers to the cheapest purchase. As the company continues to grow and get more users, the data set becomes more sophisticated. In addition to data from all PBMs, GoodRx also has a database of 200 billion price points daily. The data from GoodRx is more accurate than ever, and the company claims that its prices are better than the average cash price at a pharmacy.