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.