Eligible Navitus members can now automatically access real-time comparative pricing at point of sale to improve affordability
SANTA MONICA, Calif.--(BUSINESS WIRE)--Oct. 12, 2023--
GoodRx (NASDAQ: GDRX), a leading resource for healthcare savings and information, and Navitus Health Solutions, LLC, a pass-through pharmacy benefit manager (PBM) committed to removing cost from the drug supply chain, today announced the launch of Savings Connect. This program, when elected by clients, provides members with automatic access to GoodRx prices on generic drugs in a seamless experience at the pharmacy counter. Consumers no longer have to proactively review and choose between using their insurance or a discounted price available through GoodRx. Both prices are compared behind the scenes and the lowest one is delivered directly to the consumer.
“We are focused on expanding into the insurance benefit market because we see the value that transparency and significant savings provide to all relevant stakeholders,” said Cynthia Meiners, Strategic Program Development Officer at GoodRx. “We are excited to partner with Navitus to deliver lower-cost prescriptions to their members, and also strengthen the impact of our prescription savings within the insurance benefit marketplace.”
No additional action is required by eligible Navitus members to access GoodRx savings through the Savings Connect program. Individuals simply show their existing Navitus benefit card at the pharmacy counter, and then GoodRx and Navitus automatically review and identify the best prescription cost available. The amount paid by the member is applied to the deductible and out of pocket maximum. This process also leverages clinical data integration to ensure all claims remain associated with the member’s prescription record.
“Navitus strives to make medications more affordable for the people who need them. As healthcare costs rise, it is critical that we align with companies that share our mission to drive out needless costs for our members,” said David Fields, CEO of Navitus Health Solutions. “We are thrilled to be collaborating with GoodRx to deliver lower prices for our members while creating a seamless experience at the pharmacy.”
Eligible Navitus members can already take advantage of the Savings Connect program on many commonly prescribed generic prescriptions at in-network pharmacies, with an accelerated rollout to additional clients expected in January 2024. This program was previously introduced to clients of EpiphanyRx, Navitus’ in-house solution for emerging and mid-market employer groups, in Q4 2022.
GoodRx is a leading resource for healthcare savings and information that makes healthcare affordable and convenient for all Americans. We offer consumers free access to transparent and lower prices for brand and generic medications, affordable and convenient medical provider consultations via telehealth, and comprehensive healthcare research and information. Since 2011, we have helped consumers save over $60 billion and are one of the most downloaded medical apps over the past decade.
GoodRx periodically posts information that may be important to investors on its investor relations website at https://investors.goodrx.com. We intend to use our website as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors and potential investors are encouraged to consult GoodRx’s website regularly for important information, in addition to following GoodRx’s press releases, filings with the Securities and Exchange Commission (the “SEC”) and public conference calls and webcasts. The information contained on, or that may be accessed through, GoodRx’s website is not incorporated by reference into, and is not a part of, this press release.
Navitus Health Solutions, LLC, owned by SSM Health and Costco Wholesale Corporation, was founded in 2003 as an alternative to traditional pharmacy benefit management (PBM) models. Navitus approaches pharmacy services differently. We are purpose-driven to help humans and committed to removing cost from the drug supply chain to make medications more affordable for the people who need them. We proudly serve over 11 million people through more than 1,000 plan sponsor and health plan client relationships. Our transparent, fully pass-through model enables clients to achieve their goals and drive desired health and financial outcomes. To learn more about Navitus, visit navitus.com.
GoodRx Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding consumer savings; the demand and success of the Savings Connect program and the benefits to consumers and GoodRx from such offering; and GoodRx’s plans, expectations and objectives regarding the Savings Connect program and the insurance benefit market. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks relating to changes in medication pricing which are significantly impacted by pricing structures negotiated by industry participants; GoodRx’s ability to achieve broad market education and change consumer purchasing habits; GoodRx’s reliance on a limited number of industry participants; risks related to government regulation of the internet, e-commerce, consumer data and privacy, information technology and cyber-security; and the important factors discussed in the sections entitled “Risk Factors” in GoodRx’s Annual Report on Form 10-K for the year ended December 31, 2022, as updated by GoodRx’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, and GoodRx’s other filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent current expectations and projections as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
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