GoodRx, a leading prescription discount platform, has announced a new partnership with CVS Health Corp (NYSE:CVS)'s Caremark, a major pharmacy benefits manager (PBM).
The collaboration will introduce a new product called Caremark Cost Saver, which aims to help commercially insured customers save on generic drugs at eligible pharmacies.
Under the initiative, eligible members will have automatic access to GoodRx's prescription pricing, enabling them to pay lower prices on generic medications seamlessly at the pharmacy counter. The amount paid will be applied directly to the members' deductible and out-of-pocket thresholds.
The program is set to launch on January 1, 2024.
GoodRx is a digital platform that provides resources for healthcare savings and information. It offers a range of services to help consumers save money on prescription medications.
GoodRx provides users with access to discounted prices and coupons for prescription drugs, allowing them to compare prices at different pharmacies and find the best deals. The platform also offers information on drug prices, medication guides, and tools to search for nearby pharmacies.
GoodRx is widely used by individuals who are uninsured, have high deductible plans, or are looking to save money on their prescription medications.
Shares of GoodRx surged nearly 19% on Wednesday to reach $6.42 on the Nasdaq.
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