GoodRx, the leading platform for medication savings in the U.S., has officially announced the launch of its GoodRx Community Link, which is designed to address industry challenges that independent community pharmacies face in the context of complex reimbursement models and competitive pressures,
According to certain reports, the stated innovation harnesses the potential of a cost-plus pricing model to provide predictable pricing and favorable economics. All in all, the development in question builds upon GoodRx’s longstanding commitment to help independent pharmacies better manage pricing, while simultaneously providing consumers with affordable prices on their medications.
Talk about the whole value proposition on a slightly deeper level, it allows independent pharmacies to, for starters, to establish a direct contract with GoodRx. This translates to how the solutions leverages cost-plus pricing anchored on NADAC to provide independent pharmacies with direct control over pricing and favorable margins.
Basically, having a direct contract really goes the distance to ensure that pricing relationship is entirely between GoodRx and the pharmacy, with no PBM involvement whatsoever. It also refers to how entering into a direct agreement with GoodRx does not waive a pharmacy’s right of participating in ongoing litigation against GoodRx.
Next up, we must dig into how pharmacies can manage participation in GoodRx’s Integrated Savings Program (ISP). You see, when a direct contract is signed, independent pharmacies will gain the ability to opt-in to ISP as a bonus benefit of working with GoodRx. Starting July 1, all independent pharmacies will be opted out of ISP by default, and if someone chooses to eventually opt in, they will avail more favorable rates than traditional commercial insurance reimbursement.
Another detail worth a mention is rooted in the promised access to more than 90 brand medication deals. Here, manufacturers can buy down the price of a brand medication via GoodRx, making it more affordable for the consumer and economically beneficial for the pharmacy. As for some examples that are available in the mix, they include Lantus, a Humira® biosimilar, and medical devices such as Dexcom.
Among other things, we ought to mention how, starting today itself, independent pharmacies can use their NCPDP number to login to GoodRx Community Link and manage their relationship with GoodRx.
Founded in 2011, GoodRx’s rise up the ranks stems from connecting consumers, healthcare professionals, payers, PBMs, pharma manufacturers, and retail pharmacies to make saving on medications easier. The company’s portfolio of solutions is presently focused on reducing friction and inefficiencies to help consumers save time and money when filling prescriptions.
GoodRx’s excellence in what it does can also be understood once you consider it serves, at the moment, well over 30 million consumers and over one million healthcare professionals annually.
Beyond that, the company’s case is only helped further by the fact that it has, thus far, enabled Americans to save over $85 billion on the cost of their medications.
“We know independent pharmacies are critical pillars in our communities that help millions of Americans access their medications and they need bespoke solutions to help address the industry problems they face,” said Aaron Crittenden, President of Rx Marketplace at GoodRx. “GoodRx Community Link is the result of a multi-year journey to evolve the GoodRx business model and deliver solutions tailored to the specific needs of independent pharmacies. Ultimately, our goal with Community Link is to help improve the retail pharmacy business model and support a bright future for the sector.”
