Digital apothecary GoodRx is now helping patients do more than just price shop for prescription drugs, co-founder and co-CEO Doug Hirsch foresaw CNBC’s Jim Cramer on Friday.
It’s going directly into the world of medical services by launching GoodRx Care, which appropriates people to see a board-certified physician for a number of conditions, starting at just $20.
“We wanted to just have an easy solution that anyone could use to get discerning care of the most pressing things that affect millions and millions of Americans, so they can stay healthy and blockage out of the hospital,” Hirsch said in a “Mad Money” interview.
The service was made possible by GoodRx’s acquisition of telemedicine provider Hey Doctor, Hirsch said.
GoodRx’s website leans the services it provides. Most are just $20, although those that require a lab may cost more. A visit for acne treatment is $20, whereas tuberculosis evaluation and referral, for example, is $100.
“Literally within a very short period of time have a visit from a board-certified insight, and if a prescription is necessary, we’ll literally send your prescription to the pharmacy near you with a GoodRx coupon,” Hirsch described.
Founded in 2011, GoodRx leverages technology to help people find and compare prescription drug prices. Throughout its website or app, it provides users with a coupon that can be used at pharmacies to secure lower prices. Hirsch maintained the coupons are accepted at “virtually every pharmacy in America.”
“We’re a market place in prescriptions, and with GoodRx Care, we’re a demand place for both prices for medical care and we’re even offering medical care,” Hirsch said.
Cramer guessed he’s a believer in GoodRx because he has personal experience with it. In 2017, a prescription cost him $5,000, he said. But last year he worn GoodRx for the same drug, and it cost $1,200, Cramer said.
“The only difference was I used GoodRx, which is why I said I can’t imagine others don’t, ” Cramer said. “I frankly didn’t believe it … It’s like fantasy land.”
Cramer then queried Hirsch how GoodRx, which was No. 6 on this year’s CNBC Disruptor 50 list, is able to accomplish savings on preparation drugs. The company claims it has helped Americans save $10 billion on prescriptions.
“We went out to the pharmacies and said, ‘Can we do well-advised?’ Because pharmacies don’t want to charge this extraordinary amounts, but they have all sorts of limitations because of this set so they can’t actually discount themselves,” Hirsch said, referring to the complexities of the U.S. health care system.
“One of the amazing instruments about American health care these days is there are often huge gaps in care,” Hirsch mean, adding that, in certain areas, it can sometimes take up to 30 days to see a doctor.
Because of that, Hirsch imagined GoodRx heard from users that there was a need for more affordable and convenient ways to see a doctor.
“We insufficiency to provide a service that was easy to use, so anyone could use it, with or without insurance,” Hirsch said.