INSUBCONTINENT EXCLUSIVE:
Several months after discreetly acquiring the online prescription service HeyDoctor, GoodRx is launching a new service based on the
acquisition, GoodRx Care, and offering a direct challenge to online prescription services like Hims, Hers, Nurx, Ro and others.Already a
billion-dollar giant in the world of prescription fulfillment through its cost-comparison and discount medication fulfillment business, more
than 10 million consumers use the company’s services already.With GoodRx Care, customers can use the online medical service to get a
consultation, treatment, prescriptions and lab tests from doctors
The array of services on offer, which covers conditions and ailments from urinary tract infection treatments and birth control pills to
erectile dysfunction medication and hair replacement supplements, mirror those pitched by white-glove online prescription services like Ro,
Hims, Hers and Nurx .GoodRx Care services“Over the years, we’ve helped millions of Americans find affordable solutions for their
prescription medications, but have also learned that many people struggle to get to the doctor,” said Doug Hirsch, co-CEO and co-founder
“By introducing GoodRx Care, we aim to help fill in the gaps in care to improve access, adherence, and affordability of medical care for
all Americans.”For Hirsch and GoodRx, the expansion into these kinds of online consultations was a natural extension of the company’s
“One-third of people who come to GoodRx are coming to GoodRx and they may not have the prescription that they don’t think they need,”
“For a long time now we’ve been telling people you may need a prescription for the service and telemedicine options are
available.” Now the company can keep those customers in-house by offering their own telemedicine consults.Other technology companies are
also pushing deeper into the healthcare industry, with Amazon making a big splash with the launch of its employee-only healthcare service
offering telemedicine and on-site consultations with staff doctors
Apple, too, has its own healthcare service for employees.Even Best Buy is seeing big dollars in the healthcare industry
It expects healthcare services to become an increasingly important component to its bottom line as more technology hardware and software is
developed to cater to both the aging population, remote health solutions and infant and childcare.Demand for more healthcare alternatives is
only increasing, even as the cost of care rises and the value of healthcare services declines.As GoodRx notes, access to primary care
physicians is hard for most Americans
Some patients can wait up to three weeks to see a doctor, and there’s the potential that the country could see a shortfall of up to
120,000 doctors coming within the next 15 years
Add that to the fact that more than 27.5 million Americans don’t even have health insurance and the demand for low-cost access to care
seems obvious.What’s less obvious is that the care Americans need is access to physicians that will prescribe hair-loss or erectile
dysfunction treatments, acne treatments, eyelash growth or metabolic assessments.Hirsch says more services will be coming in later months
“We’re at the very early stages of telemedicine,” he says
“We want to continue to expand into more primary services as is safe and affordable and as we can.”For now, the focus is on bringing the
price point down and having more control over where to refer customers
“A lot of these services are tied to mail-order clinics and that could be hundreds of dollars [for a consultation or prescription],”
“We’re going to say it’s $20 for a visit
You can do it today… and you can have a pricing options… we’re saying you’ve had your doctor visit… here’s a list of prices and
coupons if you want them.”Since its launch in 2017, HeyDoctor has had over 100,000 consultations and had already been working with GoodRx,
The terms of the acquisition were not disclosed.The acquisition of HeyDoctor is the first big strategic gambit from the company in the year
since it raised money from the private equity firm Silverlake in a transaction that valued the discount pharmaceutical provider at roughly
$2.8 billion, according to a CNBC report.“In an increasingly fragmented and confusing healthcare system, our goal is to provide a one-stop
shop for services that address most basic healthcare needs,” said Hirsch.
