The GoodRx Effect: How GoodRx is Changing the Economics of Healthcare
June 15 2021 - 9:12PM
Business Wire
New Report Quantifies Company’s Impact on the
American Healthcare System
GoodRx, Inc. (NASDAQ: GDRX), America’s leading resource for
healthcare savings, just released a new report that discusses the
effect the company has had on the American healthcare system by
helping patients afford their medications.
The paper, The GoodRx Effect, discusses the ways in which GoodRx
has improved social welfare by helping people access affordable
healthcare:
- Helped Americans, with or without
insurance, save on their prescription medications: In 2020,
GoodRx users saved an average of 79% off retail prices (also
referred to as the usual and customary price or cash price). That
same year, for the 100 most purchased medications, GoodRx users
paid less than average commercial insurance copays 55% of the time
and when GoodRx users paid less than average commercial insurance
copays, they saved on average 52% off average commercial insurance
copays. To date, we have helped Americans save approximately $30
billion on their prescription medications through the discounts
found on the GoodRx platform, based on pharmacies’ usual and
customary (or retail) prices.
- Improved medication adherence: By
lowering out-of-pocket medication costs, GoodRx has helped patients
obtain at least 78 million prescriptions they otherwise may not
have been able to afford.
- Improved overall health outcomes:
Better medication adherence thanks to GoodRx also means better
health outcomes. For example, by helping patients with high
cholesterol and heart disease afford their statin prescriptions,
GoodRx has directly contributed to the prevention of over 1,000
avoidable hospitalizations and helped save nearly 500 lives.
- Helped free up funds for other
necessities: Over 20% of Americans have trouble paying for
basic necessities like food or housing due to their medication
costs, based on a 2020 survey. By reducing the burden of medication
expenses, GoodRx helps people afford other essentials.
To learn more about The GoodRx Effect, you can view the white
paper here.
About GoodRx
GoodRx helps Americans get the healthcare they need at a price
they can afford. As America’s leading resource for healthcare
savings, GoodRx connects consumers with affordable and convenient
prescriptions and medical care, including telehealth, mail order
prescriptions, doctor visits, and lab tests. We have helped
Americans save over $30 billion since 2011 and are the #1 most
downloaded medical app over the last three years.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including without limitation statements
regarding GoodRx’s savings and impact on the healthcare ecosystem.
These statements are neither promises nor guarantees, but involve
known and unknown risks, uncertainties and other important factors
that may cause our actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements, including, but not limited to, risks relating to risks
related to our limited operating history and early stage of growth;
our ability to achieve broad market education and change consumer
purchasing habits; our ability to continue to attract, acquire and
retain consumers in a cost-effective manner; our reliance on our
prescription offering and ability to expand our offerings; changes
in medication pricing and pricing structures; and the important
factors discussed under the caption “Risk Factors” in GoodRx’s
Annual Report on Form 10-K for the year ended December 31, 2020,
and our other filings with the SEC. These factors could cause
actual results to differ materially from those indicated by the
forward-looking statements made in this press release. Any such
forward-looking statements represent management’s estimates as of
the date of this press release. While we may elect to update such
forward-looking statements at some point in the future, we disclaim
any obligation to do so, even if subsequent events cause our views
to change.
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GoodRx Lauren Casparis lcasparis@goodrx.com
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