4 ms·

How do they get prescription prices so low? And why can't insurance companies negotiate similar deals?

by aantix 6y ago

lotsofpulp 6y ago
They sell data. They might even assist insurance companies because I don’t think purchases made via GoodRx apply towards deductible/out of pocket maximum.
- xoxoy 6y ago
  drug companies frequently provide rebates as a way to keep prices high to insurance companies but lower out of pocket costs to individuals - I think they do the leg work to automatically source these coupons for you and get some sort of kickback from the drug company
  - aantix 6y ago
    What's the motivation behind this? Is it really to provide a break to the individually uninsured?
- kevindong 6y ago
  Who do they sell the data to? It's certainly not the insurer/consumer/PBM/pharmacy. Each of those groups already has near total visibility as is.
  - deleted 6y ago
    [deleted]
  - lotsofpulp 6y ago
    Supposedly drug companies according to this pharmacist around 5 min mark: https://youtu.be/bUVbX3-gOWc https://youtu.be/bUVbX3-gOWc I am not sure either, but I can’t figure out what other play there is than selling data.
  - headbansown 6y ago
    Life insurance companies (speculation - but they won't have the visibility into Barry Boomer's cholesterol meds that his health insurer will)
    - lotsofpulp 6y ago
      You typically have to give permission for life insurance companies to access all of your medical history when you apply for it.
      - headbansown 6y ago
        From your doctor, sure - but from databases of who bought what that the pt consented to be in as a condition of getting a discount? Is GoodRx a HIPAA covered entity? (Not being rhetorical; don't actually know.)
- bhupy 6y ago
  Purchases made via GoodRx almost always apply towards your deductible. https://www.goodrx.com/blog/how-to-use-goodrx-with-high-deductible-health-plan-hsa/ https://www.goodrx.com/blog/how-to-use-goodrx-with-high-dedu...
  - lotsofpulp 6y ago
    Interesting, I wonder why the insurance companies would let someone else undercut them. I was partly going by information from this pharmacist: https://youtu.be/bUVbX3-gOWc https://youtu.be/bUVbX3-gOWc
- blaisio 6y ago
  GoodRx does not sell anyone's data.

How do they get prescription prices so low? And why can't insurance companies negotiate similar deals?

by aantix 6y ago

How do they get prescription prices so low? And why can't insurance companies negotiate similar deals?

They sell data. They might even assist insurance companies because I don’t think purchases made via GoodRx apply towards deductible/out of pocket maximum.

xoxoy 6y ago
drug companies frequently provide rebates as a way to keep prices high to insurance companies but lower out of pocket costs to individuals - I think they do the leg work to automatically source these coupons for you and get some sort of kickback from the drug company
- aantix 6y ago
  What's the motivation behind this? Is it really to provide a break to the individually uninsured?
kevindong 6y ago
Who do they sell the data to? It's certainly not the insurer/consumer/PBM/pharmacy. Each of those groups already has near total visibility as is.
- deleted 6y ago
  [deleted]
- lotsofpulp 6y ago
  Supposedly drug companies according to this pharmacist around 5 min mark: https://youtu.be/bUVbX3-gOWc https://youtu.be/bUVbX3-gOWc I am not sure either, but I can’t figure out what other play there is than selling data.
- headbansown 6y ago
  Life insurance companies (speculation - but they won't have the visibility into Barry Boomer's cholesterol meds that his health insurer will)
  - lotsofpulp 6y ago
    You typically have to give permission for life insurance companies to access all of your medical history when you apply for it.
    - headbansown 6y ago
      From your doctor, sure - but from databases of who bought what that the pt consented to be in as a condition of getting a discount? Is GoodRx a HIPAA covered entity? (Not being rhetorical; don't actually know.)
bhupy 6y ago
Purchases made via GoodRx almost always apply towards your deductible. https://www.goodrx.com/blog/how-to-use-goodrx-with-high-deductible-health-plan-hsa/ https://www.goodrx.com/blog/how-to-use-goodrx-with-high-dedu...
- lotsofpulp 6y ago
  Interesting, I wonder why the insurance companies would let someone else undercut them. I was partly going by information from this pharmacist: https://youtu.be/bUVbX3-gOWc https://youtu.be/bUVbX3-gOWc
blaisio 6y ago
GoodRx does not sell anyone's data.