Digital pharmacy GoodRx is now helping patients do more than just price shop for prescription drugs, co-founder and co-CEO Doug Hirsch told CNBC’s Jim Cramer on Friday.
It’s going directly into the world of medical services by launching GoodRx Care, which allows 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 quick care of the most pressing things that affect millions and millions of Americans, so they can stay healthy and stay 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 lists 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 testing and referral, for example, is $100.
“Literally within a very short period of time have a visit from a board-certified vision, and if a prescription is necessary, we’ll literally send your prescription to the pharmacy near you with a GoodRx coupon,” Hirsch explained.
Founded in 2011, GoodRx leverages technology to help people find and compare prescription drug prices. Through its website or app, it provides users with a coupon that can be used at pharmacies to secure lower prices. Hirsch said the coupons are accepted at “virtually every pharmacy in America.”
“We’re a market place in prescriptions, and with GoodRx Care, we’re a market place for both prices for medical care and we’re even offering medical care,” Hirsch said.
Cramer said 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 used 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 believe others don’t, ” Cramer said. “I frankly didn’t believe it … It’s like fantasy land.”
Cramer then asked Hirsch how GoodRx, which was No. 6 on this year’s CNBC Disruptor 50 list, is able to accomplish savings on prescription drugs. The company claims it has helped Americans save $10 billion on prescriptions.
“We went out to the pharmacies and said, ‘Can we do better?’ Because pharmacies don’t want to charge this extraordinary amounts, but they have all sorts of limitations because of this system so they can’t actually discount themselves,” Hirsch said, referring to the complexities of the U.S. health care system.
“One of the amazing things about American health care these days is there are often huge gaps in care,” Hirsch said, adding that, in certain areas, it can sometimes take up to 30 days to see a doctor.
Because of that, Hirsch said GoodRx heard from users that there was a need for more affordable and convenient ways to see a doctor.
“We wanted to provide a service that was easy to use, so anyone could use it, with or without insurance,” Hirsch said.