What's happening to GoodRx?
The FTC said GoodRx had shared patient data with third parties for advertising purposes, misrepresenting its HIPAA compliance. In 2022, GoodRx reported revenue of $766.6 million, up 2%, and had a net loss of $32.8 million, compared to a net loss of $25.3 million in 2022.
Future criteria checks 4/6. GoodRx Holdings is forecasted to grow earnings and revenue by 59.8% and 10.7% per annum respectively. EPS is expected to grow by 59.9%. Return on equity is forecast to be 14.5% in 3 years.
Shares of discount drug prescription service GoodRx dropped 39% on Tuesday to a record low after the company reported weaker-than-expected revenue and issued a disappointing forecast. GoodRx lets consumers search for the cheapest place to find a prescription and gives them a coupon to take to the pharmacy.
GoodRx (ticker: GDRX) on Monday retracted its guidance and said that its second quarter will see a $30 million revenue hit because a key grocer, which accounted for 25% of its transactions, is renegotiating contracts with all pharmacy benefit managers or PBMs on a subset of drugs.
You can save up to 80% on prescriptions with GoodRx and it's free to use.
HeyDoctor Is Now GoodRx Care: Affordable, Quality Online Medical Visits. Our mission at GoodRx is to help Americans get the healthcare they need at a price they can afford. We started with a price comparison tool for prescriptions, offering consumers free access to lower prices on their medications.
AUSTIN, Texas, Nov. 11, 2022 /PRNewswire/ -- Wheel, the health technology company powering the future of care, today announced it will acquire GoodRx Care's backend virtual care technology, including its clinician-centric EMR, powerful clinical management tools, and flexible patient experience software.
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.
GoodRx discounts are still accepted at Walmart and Sam's Club.
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. The tradeoff is the extra features GoodRx offers in its paid plans and affordable telehealth appointments.
Can a pharmacy turn down GoodRx?
In rare occurrences, a pharmacist may not be aware of the agreement they have to honor GoodRx coupons, although they are contractually obligated to accept them.
GoodRx is the go-to source for many and is the leading online resource for free prescription drug coupons and discounts [1]. Several of GoodRx's competitors also provide prescription drug coupons and discounts, such as Blink Health, SingleCare, NeedyMeds, RxSaver, WellRx, Truepill, WeRx, and Optum Perks.
GoodRx blamed the decline in the prescription transaction business on its contract dispute last year with Kroger, the national grocery chain that temporarily stopped accepting GoodRx's discounts at the point of sale in May 2022.
GoodRx coupons do not expire; you can use and reuse the coupons as often as you like. However, we always recommend that you check the coupon price on the website again before refilling so there won't be any surprises when you pick up your prescription.
In the Consumer Reports survey, Costco had the best prices for a brick-and-mortar store, while the online mail-order pharmacy Healthwarehouse.com had the lowest overall pricing. The report found the two highest-priced national retailers were CVS Health and K-Mart for the common medications they checked.
GoodRx prices are based on pharmacy cash prices which fluctuate frequently—daily, weekly or monthly. We update our prices often, and you can count on the prices we list to be as accurate as possible. The good news is that just as prices can increase, they can also decrease.
CVS accepts both GoodRx and GoodRx gold programs for your prescriptions.
GoodRx can also help you save on over-the-counter medications and vaccines. GoodRx prices are lower than your Medicare copay. In some cases — but not all — GoodRx may offer a cheaper price than what you'd pay under Medicare. You won't reach your annual deductible.
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. The tradeoff is the extra features GoodRx offers in its paid plans and affordable telehealth appointments.
| $ in millions | 1Q 2023 | 1Q 2022 |
|---|---|---|
| Total Revenue | ~$181-183 | $203.3 |
| Adjusted EBITDA Margin6 | Mid-twenty-percent range | |
| $ in millions | FY 2023 | FY 2022 |
| Total Revenue | ~$780-790 | $766.6 |
How many people use GoodRx?
The platform creates an effective way for pharma manufacturers to reach patients and providers, leveraging GoodRx's almost 20 million monthly visitors made up of both consumers and healthcare providers, as well as the 20% of searches on its platform that are for brand drugs, said Bansi Nagji, president of healthcare, ...
Use our price comparison resource on your mobile app or visit goodrx.com to save up to 80% on virtually all FDA-approved drugs—brand-name and generic.
GoodRx and Kroger Health Agree to Multiyear Renewal of Kroger Rx Savings Club Relationship. SANTA MONICA, Calif.
Unlike manufacturer copay cards, GoodRx coupons have no eligibility requirements, no activation step, and no restrictions on how many times the coupon can be used.
Prescription discounts, including those from GoodRx, can be a great option if you don't have health insurance. But if you do have insurance, you can always use a GoodRx discount instead of insurance if the cost is lower. Coupons can't be used to lower a copay, but you can ask your pharmacist to: Apply a coupon.
Out of 9 analysts, 2 (22.22%) are recommending GDRX as a Strong Buy, 0 (0%) are recommending GDRX as a Buy, 7 (77.78%) are recommending GDRX as a Hold, 0 (0%) are recommending GDRX as a Sell, and 0 (0%) are recommending GDRX as a Strong Sell.
GoodRx Accused of Privacy Violations in FTC Action, Lawsuit
Under the order, GoodRx will be required to pay a $1.5 million civil penalty for violations of the FTC's Health Breach Notification Rule and prohibited from sharing users' health data for advertising purposes.
Our core prescription transactions offering came in slightly ahead of our expectations despite being impacted by the grocer issue, and our profitability also surpassed our internal expectations for the second quarter in a row,” said Doug Hirsch , co-CEO and co-founder of GoodRx .
The Health Breach Notification Rule
The government's complaint against GoodRx accuses the California-based company, which offers prescription drug discounts, telehealth visits and other digital health services, of illegally sharing users' information with advertisers like Google and Facebook.
