How to Use GoodRx to Check Prescription Prices

Summary

Dr. Eric Bricker's video explains how to use GoodRx for checking prescription drug prices. The app offers discounted prices through various pharmacy benefit managers (PBMs) and provides an average wholesale price (AWP) minus a discount. For patients with high deductible insurance plans like HSA, GoodRx helps identify more affordable medication options. The video demonstrates using GoodRx to compare prices and suggests discussing alternatives with doctors to manage healthcare costs effectively without compromising health.

Takeaways

• 😀 GoodRx is an app or website used for checking prescription drug prices.
• 📲 The GoodRx app is the easiest way to access prescription price information.
• 💲 GoodRx prices include a PBM (Pharmacy Benefit Manager) discount, which is a reduction from the list price.
• 🔢 AWP, the Average Wholesale Price, is the top price from which discounts are applied to give the GoodRx price.
• 🏥 If you have an HSA (Health Savings Account) plan, you likely don't have a copay and should use GoodRx to check prices.
• 🤔 The GoodRx price is an estimate and may vary slightly at different pharmacies.
• 🔍 You can search for medications by name or by disease/symptom in the GoodRx app.
• 💊 GoodRx categorizes medications by frequency of use, making it easier to find common prescriptions.
• 💬 Discussing medication prices with your doctor during a visit can lead to more affordable alternatives.
• 💼 Use GoodRx to compare prices and negotiate with your doctor for a more cost-effective medication.
• 🛒 Even if the price at the pharmacy isn't exactly as listed on GoodRx, it's usually significantly lower than the original price.

Q & A

What is the primary purpose of the GoodRx app or website?

The primary purpose of GoodRx is to check prescription drug prices and provide discounts through a pharmacy benefit manager (PBM) discount.

How does the GoodRx app provide discounted prices for prescriptions?

GoodRx provides discounted prices by using a PBM to offer discounts off the list price of the prescription medication.

What does AWP stand for and how is it related to the prices shown on GoodRx?

AWP stands for Average Wholesale Price, which is the top price of a medication before any discounts. GoodRx shows the discounted amount after applying the PBM discount to the AWP.

Why might the price of a prescription vary at different pharmacies?

The price may vary because GoodRx uses multiple PBMs, and different pharmacies may have different agreements with these PBMs, resulting in slightly different prices.

How can GoodRx be used by someone with an HSA plan?

A person with an HSA plan can use GoodRx to check the prices of different medications and compare them to find the most cost-effective option without a copay.

What is the significance of discussing the cost of medication with a doctor during a visit?

Discussing medication costs with a doctor can help patients make informed decisions about their health care, potentially finding more affordable alternatives without compromising health.

How can a patient use GoodRx to find alternative medications for a specific condition?

A patient can type the name of the condition, such as 'diabetes,' into the GoodRx search bar to find a list of medications categorized by drug type, and compare prices to find more affordable options.

What is the role of a PBM in the context of GoodRx?

A PBM is involved in providing discounts on prescription medications. GoodRx runs the prescription through a PBM to offer the discounted prices to users.

Why might the actual price at the pharmacy differ from the price shown on GoodRx?

The actual price may differ because the pharmacy may use a different PBM or have specific agreements that affect the final price.

How can GoodRx help patients with chronic conditions manage their medication costs?

GoodRx can help by providing a price check for medications, allowing patients to discuss more affordable options with their doctors and make better financial decisions regarding their health care.

What is the recommended approach for using GoodRx when discussing medication prices with a doctor?

The recommended approach is to use GoodRx as a price checker during the doctor's visit, showing the app to the doctor to discuss more affordable alternatives for the prescribed medication.

Outlines

00:00

💊 Utilizing GoodRx for Prescription Price Checks

Dr. Eric Bricker introduces the GoodRx app as a tool for checking prescription drug prices. The app provides discounted prices through a pharmacy benefit manager (PBM), which may differ from an individual's insurance PBM. The average wholesale price (AWP) is reduced by a certain percentage to give the price displayed on GoodRx. For those with Health Savings Account (HSA) plans, who pay out-of-pocket without a copay, the app is particularly useful for comparing prices. The video emphasizes the importance of discussing medication costs with doctors, especially when looking for alternatives that are more affordable without compromising health. An example is given where a prescription for 'guardians' costs $529 a month, prompting a conversation with the doctor about cheaper alternatives. The app also allows users to search by disease or symptom names, providing a list of medications sorted by frequency of use, helping users to make informed decisions about their prescriptions.

05:02

🛒 Using GoodRx as a Price Checker for Medications

The second paragraph continues the discussion on how to use GoodRx effectively. It explains that while GoodRx provides a ballpark figure for medication costs, the actual price at the pharmacy may vary slightly due to the use of different PBMs. The speaker advises using GoodRx to identify cheaper generic alternatives, such as a sulfonamide urea glycoside for $7, and then discussing these options with the doctor. The app can be used to search for medications by typing in pain or disease names, offering a range of options with associated prices. The goal is to find affordable alternatives to expensive prescriptions, understanding that the exact price may differ but will still be significantly lower than the initial high-cost option. The speaker clarifies that the GoodRx app is used as a price reference rather than a direct method of purchase, and that the actual transaction will go through the user's insurance, with the aim of securing a lower cost medication.

Keywords

💡GoodRx

GoodRx is an application and website that allows users to check prescription drug prices. It is central to the video's theme of educating viewers on how to use the platform for price comparison and potentially save money on medications. In the script, Dr. Eric Bricker demonstrates how to use the GoodRx app to find the best prices for prescriptions, emphasizing its ease of use and the inclusion of PBM (Pharmacy Benefit Manager) discounts.

💡PBM (Pharmacy Benefit Manager)

A Pharmacy Benefit Manager is a third-party administrator of prescription drug programs for insurance companies and employers. In the context of the video, PBMs are mentioned as entities that provide discounts on prescription drugs, which GoodRx incorporates into its price estimates. The relevance of PBMs is highlighted when discussing how GoodRx can offer lower prices than the AWP (Average Wholesale Price).

💡AWP (Average Wholesale Price)

The Average Wholesale Price is a term used to describe the theoretical top price of a drug before discounts are applied. In the video, Dr. Bricker explains that GoodRx shows prices after a discount from the AWP, making it easier for consumers to understand the potential savings they can achieve.

💡HSA (Health Savings Account)

A Health Savings Account is a type of savings account that allows individuals to set aside pre-tax dollars to pay for qualified medical expenses. The script mentions HSA plans as a context for individuals who might not have a copay and therefore need to be aware of the full cost of their prescriptions, making the use of GoodRx particularly relevant for them.

💡Copay

Copay refers to the fixed amount that a policyholder must pay for a healthcare service, with the rest of the cost covered by insurance. The video script explains that individuals with HSA plans do not have a copay, hence they need to be more conscious of the actual cost of their prescriptions and how GoodRx can assist in finding lower-cost options.

💡Generic Medication

Generic medications are copies of brand-name drugs that have the same dosage, safety, strength, quality, performance, and intended use. In the video, Dr. Bricker uses the example of metformin, a generic medication for diabetes, to illustrate how GoodRx can help patients find more affordable alternatives to brand-name drugs.

💡Brand-Name Medication

Brand-name medications are drugs that are protected by patents and marketed under a specific company's name. The script contrasts brand-name medications with generics, highlighting the potential high cost of the former and how GoodRx can help users find cheaper alternatives.

💡Sulfonamide Urea Glycoside

Sulfonamide Urea Glycoside is a class of oral medications used to lower blood sugar levels in people with type 2 diabetes. In the video, Dr. Bricker uses this term to demonstrate how GoodRx can help identify cost-effective alternatives within a drug class, such as a cheaper option within the Sulfonamide Urea Glycoside category.

💡Price Checker

A price checker, in the context of the video, refers to the function of GoodRx that allows users to compare the costs of different medications. Dr. Bricker emphasizes using GoodRx as a price checker to negotiate with doctors for more affordable medication options without compromising health.

💡Insurance

Insurance in the script refers to health coverage plans that may affect the cost of prescriptions. Dr. Bricker mentions that even if a user has insurance, the GoodRx price might differ from what the insurance covers, which is why using GoodRx as a price reference is beneficial.

💡Pharmacist

A pharmacist is a healthcare professional who prepares and dispenses medication. In the video, Dr. Bricker explains that while GoodRx provides a price estimate, the actual transaction for the medication will be handled by the pharmacist, who may apply different discounts or insurance benefits.

Highlights

Introduction to GoodRx as a prescription price check tool.

Availability of the GoodRx app on the App Store and Google Play.

Explanation of how GoodRx includes the PBM discount in the prices it provides.

Clarification of AWP (Average Wholesale Price) and its relation to the discounted price shown on GoodRx.

The relevance of PBMs (Pharmacy Benefit Managers) to the pricing process on GoodRx.

Use of GoodRx for HSA (Health Savings Account) plans without co-pays.

The GoodRx price as a ballpark figure for prescription costs.

The variability in prices at different pharmacies and the use of GoodRx to compare.

Importance of discussing medication costs with doctors to ensure health without financial burden.

Example of using GoodRx to find alternatives to expensive medications for diabetes.

Demonstration of how to use GoodRx to search for medications by disease or symptom names.

The sorting feature of GoodRx that prioritizes drug categories from most to least frequent.

How to navigate GoodRx to find the most cost-effective medication options with a doctor.

The use of GoodRx as a price checker rather than a direct purchasing tool.

The significance of discussing alternative medication options with doctors to reduce costs.

The potential for significant cost savings by using GoodRx to compare generic medication prices.

The process of using GoodRx to inform insurance-based pharmacy transactions for cost-effectiveness.

Transcripts

hello this is dr eric bricker and thank

you for watching a healthcare z today's

topic is

how to use goodrx as a prescription

price check so as many of you know

good rx is an app or a website that you

can

use to check prescription prices now

the good rx app on your phone is

probably the easiest way to do this use

go to the app store google play you

download it right

the prices that good rx gives you

includes the pbm

discount so that's how good rx is able

to

discount you off of the list price for

the prescription good rx actually runs

it through a pbm

if you have insurance it might not be

your pbm

but it's still a pbm okay and we'll get

to the relevance of that

what that means is is that awp which is

the average wholesale

price right that is sort of the

fictitious top price

okay it's discounted x percent

and then that disk counted amount is

what you're going to see

on goodrx so it's a super helpful number

okay now if you have an hsa plan you've

got health insurance through your job

obamacare plan whatever if you have an

hsa plan

you don't have a copay i'm sure all of

you know that okay

the doctor doesn't know what this awp

minus x prices you don't know what the

awp

minus x discount price is so you use the

goodrx app

to look it up now that good rx price is

going to give you a

ballpark okay so when you actually go to

the pharmacy and get the prescription

it's not going to be that exact amount

but that is okay again because you don't

know

what pbm they're running your

prescription through because

good rx actually uses multiple pbms okay

so you might have cvs caremark you might

have optum you might have express

scripts

um cigna right so you don't know

but typically you're if you're

prescribed to bring any episode when

they write your prescription you don't

know if it's paranoid or generic you

know

it's called blah blah blah blah blah you

don't know what this stuff is called

so you need to look it up so you type it

into the goodrx app in your doctor's

office and if it's a brand new

medication it's probably gonna cost

about 200

or 300 or 400 or 500 for 30 pills for

chronic medication

now let's go through an example so for

diabetes

let's say the doctor writes a

prescription for guardians right and you

look it up on the

good rx app it's 529 a month

now you can see at walmart or at your

grocery store or at the pharmacy

and it might vary a little bit from 529

to 531 to 550 but whatever right

but the point is okay hey doc

is there anything else that's not gonna

i have an hsa plan

that's about i mean i'm exactly but

guess what that's probably around what

i'm gonna have to pay

is there anything that you could give me

for my diabetes

that's gonna cost less than

dollars a month and that right there is

like

the most important conversation that you

could have

to be a better steward without

compromising your health

during your doctor's office visit

because the doctor might say

no you have to take the guardians

okay or the doctor might say whoa

i had no idea it was gonna cost 429

this is what you do next so in the same

search bar in goodrx where you typed in

guardians

you can also just type in disease

names or symptoms names you can just

type in diabetes and it gives you two

choices type 1 and type 2

type 2 is the more common type of

diabetes which people probably have

so you're going to click on type 2

diabetes

and then it's going to give you the drug

types or the drug

categories and what's interesting is

that good rx has prioritized them

in the most frequent drug categories to

the

least frequent drug categories it's an

it's an

incredibly helpful sorting tool so all

you have to

do for the drug categories is start at

the top and you

type you touch by guanides what the heck

is a big one

nobody knows what big one it is you

don't have to know what a biguanite is

your doctor

probably should know what a bighuanite

is but they may not know

you just hit by guanide and what does it

take you to it takes you to metformin

the most commonly prescribed medication

for diabetes

it's in the category of bicoin lines

it's five dollars a month it's been

around for forever aha

a lot of people with diabetes are

already on metformin

so the doctor be like well look you're

already on metformin so fine so you go

back out to the other categories

and you do this here's the key you look

at the app

with the doctor you look at the app with

the doctor this is going to take no more

than 90 seconds you can do this super

fast

and you click on sulfur urease and you

click on glyphize or actually you'll see

that it'll list them it'll list all the

different sulfur ureas

and they'll say look clippers say hey

doc

what about this sulfonate urea glycoside

for seven dollars

hey that'll work fantastic you can go

through that same exercise

for asthma for adhd for

heartburn it's even good for pain in

that search bar

you can just type in pain and it

actually gives you

different classifications of pain

medications and then different drugs

within those

those classifications and it gives you

like the ballpark price

now what you're shooting for here

obviously these are so inexpensive

because they're generic

now because of your specific plan even

the generic price for you might not be

exactly five dollars

it might not be exactly seven dollars

maybe it's 12 maybe it's

three who knows but the point is it's

not 529

so you're not going to use the actual

good rx

app right so in the goodrx then you have

to give this like code to the pharmacist

in order for them to run it through

goodrx

you're not going to do that so you're

not going to actually use the goodrx app

goodrx app itself to get the to

to get you the actual price you're going

to go through your insurance

but what you're going to do is you're

going to use goodrx as the price checker

and you're going to say okay this

medication is about 529 dollars i really

don't want that one

and my alternatives are about five or

about seven

and then when you go to the pharmacy and

it's not that exact amount

you're like i understand that i expect

that and even if i'm paying 12 bucks i'm

not going to make a big deal about it

because it's a lot less than 529

and that's how to use goodrx as a price

checker

and thank you for watching a healthcare

seat