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CANADA – 2025\/03\/06: In this photo illustration, the GoodRx Holdings logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller\/SOPA Images\/LightRocket via Getty Images)<\/span><\/p>\n SOPA Images\/LightRocket via Getty Images<\/small><\/div>\n<\/div>\n<\/figure>\n GoodRx launched a new subscription Wednesday for individuals who lack health insurance or are unable to afford their out-of-pocket costs, amid a tumultuous time in the U.S. healthcare ecosystem. <\/p>\n For $14.99 per month, patients can access the bundled services, through the new GoodRx Companion, to get access to 200 free or reduced cost generic medications, as well as discounts on telehealth visits, dental care, vision care and labs and diagnostics with market-leading partners.<\/p>\n The services are part of a rented network<\/a> \u2013 where a company can pay for access to existing provider relationships rather than build from scratch \u2013 and will focus on areas of high volume utilization, according to GoodRx president of Rx Marketplace Aaron Crittenden. <\/p>\n That means that the pre-existing network of service providers help boost access to health services that most people use regularly or need regularly, but tend to avoid due to the hit from out-of-pocket costs.<\/p>\n Recent polls show <\/a>that increasing costs are impacting patients\u2019 ability to afford care \u2013 and they perceive the health industry as putting profits before the patients\u2019 best interest.<\/p>\n The new Companion product builds on GoodRx\u2019s existing telehealth platform, which addresses common health issues and links the virtual visits to prescriptions written for any pharmacy, and offers patients the option to access GoodRx\u2019s well-known pharmacy coupons. <\/p>\n With discounted access to additional services, GoodRx believes it is meeting the moment, Crittenden told me exclusively.<\/p>\n Patients are facing skyrocketing premiums and health costs, all while seeing shrinking or limiting benefits.<\/p>\n \u201cCoverage is getting worse, costs are going up, you\u2019ve got ACA roll-offs \u2013 it\u2019s a mess,\u201d Crittenden said.<\/p>\n Add to the mix the tens of thousands of laid off workers in the past year, and it has created an environment ripe for limited access health care products \u2013 whether through insurance or other avenues.<\/p>\n GoodRx sees the potential in the current environment. The company took a look at its GoodRx Gold product, which was a similarly priced $14.99 per month for access to the same 200 drugs as Companion, plus unlimited virtual visits. After evaluating what didn\u2019t work, along with user research, GoodRx produced the new Companion product, Crittenden said.<\/p>\n \u201cWe\u2019re not building an insurance product,\u201d he said.<\/p>\n \u201cWe\u2019re trying to build something that can be ancillary to insurance. Or if you were uninsured it would give you a good backstop on some things \u2013 not everything,\u201d he added.<\/p>\n Meanwhile, patients are struggling with rising premiums on the Affordable Care Act marketplace, and the Companion product could help small employers or any employer with part-time employees provide better health care options, Crittenden said.<\/p>\n \u201cI think there\u2019s a market and a need for that,\u201d he said.<\/p>\n In a statement following the launch Wednesday, GoodRx CEO Wendy Barnes echoed the sentiment.<\/p>\n \u201cAs coverage becomes more complex and out-of-pocket costs continue to rise, people are looking for trusted solutions that give them greater control and clearer value. Companion meets that demand while advancing our strategy to build deeper, more recurring consumer relationships across a growing portfolio of subscription offerings. This is where we believe the market is headed, and where we believe GoodRx is uniquely positioned to lead,\u201d Barnes said.<\/p>\n<\/section>\n The company known for discount drug pricing has had a tough time recently. In the past year, the stock has sunk 30%.<\/p>\n Investors have questioned the company\u2019s ability to innovate and thrive, as it struggles to grow revenues quarter over quarter. Sitting at $2.65, down from $33 per share when it debuted in late 2020 amid a telehealth boom, the company\u2019s stock has been in need of a catalyst to convince the market it is a worthy investment.<\/p>\n Despite those struggles, it still enjoys strong brand recognition among consumers, according to analysts<\/a>. Whether or not the recent product launch could change the company\u2019s perception in the markets remains to be seen.<\/p>\n<\/section>\n<\/div>\nNot an insurance product<\/h2>\n
GoodRx\u2019s position<\/h2>\n