Health

GoodRx inks deal with Surescripts to provide information on cash prices for drugs

GoodRx struck a deal with medication data giant Surescripts to provide doctors and clinicians with more information about the cash price of drugs at the point of care.

The partnership will significantly expand GoodRx’s footprint as Surescripts as relationships with more electronic health record (EHR) vendors. The deal also expands the information healthcare providers have on cash pay drug pricing information.

GoodRx, which went public last year and raised $1.1 billion in its IPO, built an online platform that offers coupons for discounts on prescription drugs. The company has since expanded into telehealth services and free mail-order pharmacy delivery under its GoodRx Gold subscription service.

Earlier this year, GoodRx acquired competitor RxSaver for $50 million in cash, with an eye toward expanding its business capabilities and consumer reach, particularly with respect to its prescription offering.

The partnership with GoodRx will enable Surescripts to deliver drug discount price information to prescribers when they are prescribing medications for uninsured patients and patients whose price information isn’t already available from their pharmacy benefit manager (PBM) or health plan, according to the companies.

RELATED: GoodRx acquires RxSaver to expand discount drug business as executives downplay Amazon threat

Surescripts’ real-time prescription benefit technology delivers cost information in the electronic workflow so prescribers can make more informed decisions and address patient prescription cost concerns at the point of care. 

Approximately one-third of Americans say they have skipped filling a prescription for a chronic condition one or more times because of the cost, according to an internal GoodRx survey.

By improving price transparency at the point of care, prescribers can have more informed conversations with their patients and ensure they can afford the treatment they need before getting to the pharmacy counter, the companies said.

GoodRx says its drug discount pricing provides savings of up to 80% from pharmacy retail prices on prescriptions.
 
“We are always looking for ways to increase prescription price transparency and affordability for more Americans, so we are excited to work with Surescripts to arm prescribers with the tools and information they need to choose medications that are both accessible and clinically appropriate,” said Doug Hirsch, co-CEO and co-founder of GoodRx, in a statement.

Surescripts, owned by CVS Health and pharmacy benefit manager Express Scripts, dominates the e-prescribing market and manages about 80% of U.S. prescriptions, according to the company’s data

RELATED: Making pharmacy more ‘Amazon-like’: PillPack founder details tech giant’s push into drug delivery
 
Surescripts’ nationwide network connects virtually all EHR software vendors, pharmacies and health systems, enabling providers to view patient-specific benefit and cost information and then electronically prescribe a medication. Last year, nearly 2 billion electronic prescriptions were delivered through Surescripts.

Integrating GoodRx pricing will support getting cost information into the hands of patients, company executives said.
 
“Providing prescription price transparency at the point of care is critical to improving medication adherence and ensuring patients can receive the treatment they need,” said Mike Pritts, chief product officer at Surescripts, in a statement.

The partnership with Surescripts comes as digital disrupters and online retail behemoth Amazon ramp up competition in the pharmacy space. Amazon bought PillPack in 2018, launched Amazon Pharmacy last year and has added new drug price comparison tools, which is in direct competition to GoodRx’s discount cards and price-comparison platform for prescription medicines.

The new features are part of the tech giant’s push to give consumers what they want: “More Amazon, less pharmacy,” said TJ Parker, vice president of pharmacy at Amazon and one of the entrepreneurs behind PillPack, said during a virtual Stat Health Tech Summit 2021 back in May.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button