How does GoodRx make money without insurance?
Asked by: Cordell Zulauf | Last update: February 12, 2025Score: 4.4/5 (40 votes)
Where does the money for GoodRx come from?
The company currently makes the majority of its money from what it calls “prescription transactions.” That means that when a consumer uses a GoodRx code to fill a prescription and saves money compared to the list price at that pharmacy, the company is paid by its pharmacy benefit manager partners, most of the time ...
Why do pharmacies not like GoodRx?
Because this is known scam for drug abusers to get controlled substances at a lower price and sell them later on. More importantly goodrx in general is a scam. They take an estimated cost and simply mark it down. They pocket a part of switch fees that pharmacy pays. So overall on many drugs the pharmacy takes a hit.
What's the catch in using GoodRx?
Keep in mind that you cannot use GoodRx and insurance at the same time. However, you can use GoodRx instead of insurance or government-funded programs, such as Medicare or Medicaid, to pay for your prescription medications. GoodRx is not insurance.
How does GoodRx work if you don t have insurance?
To get those prices at the pharmacy, you print and bring a free GoodRx coupon or show it on your phone when picking up your prescription. The coupon tells you the cash price you can pay, which could be cheaper than an insurance copay or the pharmacy's cash price for the prescription if you're not using insurance.
Why Pharmacists Hate GoodRx
Can a pharmacist refuse GoodRx?
Are pharmacies required to accept GoodRx coupons? Participating pharmacies are required to accept GoodRx through contracts with their pharmacy benefit managers (PBMs). An exception is for controlled medications. Accepting a GoodRx coupon for a controlled medication is always at the discretion of the pharmacist.
Who pays the difference when using GoodRx?
By using GoodRx in place of your insurance, you're paying for the cash price of a medication, rather than the insurance price. While a medication may be cheaper this way, the fact of the matter is you're still not using your insurance—which you already pay for.
How many times a month can you use GoodRx?
GoodRx coupons themselves do not expire; you are able to re-use the coupons as many times as you would like.
Who is GoodRx owned by?
Hirsch co-founded Santa Monica, California-based GoodRx to help provide Americans with affordable access to prescription medications. Private equity firms Francisco Partners and Spectrum Equity acquired a majority stake in GoodRx in 2015 before a third PE firm, Silver Lake, made a minority investment in 2018.
Is Walgreens not accepting GoodRx?
GoodRx is accepted at virtually every one of the 70,000+ retail pharmacies in the United States, Puerto Rico, and the U.S. Virgin Islands — including major chains like CVS, Walgreens, Kroger, Rite Aid, Costco, Walmart and many more!
What is the GoodRx scandal?
According to the FTC's complaint, GoodRx violated the FTC Act by sharing sensitive personal health information for years with advertising companies and platforms—contrary to its privacy promises—and failed to report these unauthorized disclosures as required by the Health Breach Notification Rule.
Is Walmart no longer accepting GoodRx?
GoodRx discounts are still accepted at Walmart and Sam's Club. If you have issues using a GoodRx discount at a Walmart or Sam's Club, please have the pharmacist call 1-866-921-7286.
Who is cheaper than GoodRx?
Bottom Line. SingleCare and GoodRx make prescription drug prices more affordable for consumers. Both companies have identical aims, but SingleCare generally offers lower pricing and free delivery.
Who is GoodRx's biggest competitor?
Does Walmart take GoodRx for controlled substances?
While most U.S. pharmacies accept GoodRx discounts, there are a few exceptions to keep in mind: Walmart's new opioid policy – As of June 1st, 2018, Walmart will no longer accept any discounts for an opioid prescription. For more information on Walmart's policies regarding Opioid prescriptions click here.
Who stopped accepting GoodRx?
But throughout much of 2022, GoodRx was embroiled in a dispute with Kroger. The dispute became public in the spring of that year when Kroger suddenly stopped accepting GoodRx discounts.
Why is GoodRx tanking?
GoodRx, a pharmacy discount app, is facing numerous challenges including shrinking business, trouble with customers and the FTC, and the departure of its founders. The company's pivot to direct relationships with retail pharmacies may not be successful, and its subscription plan is shrinking.
Why is GoodRx charging me $9.99 a month?
Unless you have a discounted Membership Fee, you will be charged $9.99 for the Individual Membership or $19.99 for the Family Membership for each monthly Membership Cycle, or $89 for the Individual Membership and $179 for the Family Membership for each annual Membership Cycle prior to or at the beginning of each ...
Do pharmacists actually accept GoodRx?
Participating pharmacies are required to accept GoodRx through contracts with their pharmacy benefit managers (PBMs). An exception is for controlled medications. Accepting a GoodRx coupon for a controlled medication is always at the discretion of the pharmacist.
How does GoodRx work without insurance?
GoodRx may be able to find you a lower price than your insurance co-pay. Hundreds of generic medications are available for $4 and some are even free, without insurance. One important thing to remember, GoodRx is not insurance. It can be used instead of insurance, Medicare, or Medicaid, but not combined with them.
Where does the money come from for GoodRx?
Coupons and Partnerships: GoodRx derives a substantial portion of its revenue from their coupon services. By providing users with coupons that offer discounts on medications, GoodRx encourages consumers to fill their prescriptions at partner pharmacies.
Does Costco take GoodRx?
I had a medication that wasn't covered by my insurance, so I got it at Costco. They always accepted GoodRX. There were never any issues.
Is it better to use insurance or GoodRx?
GoodRx coupons can provide better discounts than your insurance co-pays and negotiated prices. However, you can't use GoodRx and insurance together. Instead, you choose whichever gives you a better deal.