GoodRx, a drug discount app is providing answers to most Googled personal health-related questions by expanding into health content.
GoodRx Health provides research-based online health resources that increase access to common health topics, such as heart disease and diabetes. The company offers the service to track prescription drug prices while offering coupons to get medication discounts.
Expanding on the service beyond a mere price comparing app, the company launched GoodRx Care while is a telehealth platform enabling consumers to see primary care services or a licensed physician.
GoodRx sees visits by almost 20 million people each month as it publishes health-related content ranging from COVID-19 vaccines to erectile dysfunction. GoodRx health aimed to help provide answers on a wider range of topics including mental health, weight loss, and women’s health. With almost 20% of queries being health-related on Google, there is a large need for health information.
Goetz, a former executive editor of Wired, stated “There is a particular world where healthcare and personal finance overlap that we feel is underserved. We want to be that place where people can come to ask questions and get good answers,” while further adding, “We’re building something different, and something very actionable and more useful for people.”
The company’s aim is to empower consumers to make informed decisions about their health, he explained.
Apart from Goetz, the team consists of Stacy Lawrence, former editor in chief of Fierce Biotech, and Amy O’Connor, editorial director of Everyday Health. Goetz has hired a 50-person editorial and research team which comprises doctors, pharmacists, and journalists helping in content generation.
Among medical professionals, these include Sharon Orrange, M.D., a primary care doctor and professor at the University of Southern, Preeti Parikh, M.D., a board-certified pediatrician and assistant clinical professor at the Mount Sinai School of Medicine and Alyssa Billingsley, PharmD, a licensed pharmacist who is an expert in health information as well as patient education. The team additionally includes members from MarketWatch, NerdWallet, and The Wall Street Journal.
HealthiNation, a health video company, was acquired by GoodRx in April for $75 million and its health video content will be merged into the GoodRx Health site with the content being focused on 4 major areas: drug FAQs, medical research, and literature reviewed by physicians and pharmacists pertaining to common health queries, the U.S. healthcare system and fill trends, and financial guidance.
The content offered on the site differentiates itself on sections such as “health debunked,” and “video explainers” which dissect health fads and explain complicated health problems.
Amazon’s pharmacy presents business competition in the market to similar players by offering free two-day delivery for prescriptions and other medications with its Amazon prime service. Amazon Pharmacy recently added a tool for comparing drug prices as well.
Executive of GoodRx has not attached significant weight to the entrance of Amazon into the market. GoodRx’s saw a growth of 32% in prescription transactions from $109 million last year, and it closed the second quarter of this year with 7.5 million active users and subscribers with a revenue of $177 million- a 43% growth from last year’s $123 million.
Goetz said that GoodRx Health is offering a platform for manufacturers to reach large audiences relevant to their manufactured drugs and it provides opportunities for growth in the pharma solutions business. A $30 billion total market can be addressed in this way by GoodRx Health.
