GoodRx is continuing to grow its telehealth services, offering a new program that gives discounts on virtual doctor's visits as well as free mail delivery to all of its subscription GoodRx Gold members.
Users will be able to tap into telehealth visits at discounted rates and can see a provider digitally for over 150 conditions, according to the release. The program lets members then transfer their prescriptions to the mail order service, which is run by Truepill, and get free delivery.
The company launched the subscription service in 2018, pitching it as a way to save more on medication costs. The plan is $5.99 for one person and $9.99 for a family.
WHY IT MATTERS
Telehealth is quickly becoming a direct to consumer industry. Adoption rates have skyrocketed during the pandemic. In an Accelerate Health 2020 Consumer Telehealth survey, more than half of the respondents reported using telehealth in the last six months, and 77% said they would be willing to use at least one type of telehealth technology once the pandemic ended.
This increase in usage is also boosting business for telehealth companies. For example, Teladoc beat its Q3 revenue and total visit projections.
THE LARGER TREND
In August, GoodRx filed to go public. Ahead of this IPO the company reported $55 million in net income in the first half of 2020. It is also important to note that the company was profitable when it went public, which is not always the case with digital health companies.
Founded in 2011, the company got its start by letting self-paying customers compare medication prices and discounts, as well as coupons for medications.
In recent years it has expanded into the telemedicine space. In 2019, GoodRx announced that it was launching its own virtual care platform, shortly after it acquired telehealth company HeyDoctor. Then in March the company launched a telemedicine cost-transparency tool that lets patients compare virtual care prices and service options.