From 56.63 USD to 7.74 USD – within a year! That’s how fast GoodRx stock tumbled. And the worst indication is, it is still falling! So, what’s causing this fall? Well, to understand it in detail, we have to first understand how GoodRx makes money.
GoodRx with its mobile and web app enables users to compare prescription drug prices and purchase drugs at almost 60 to 90% of a discounted price.
The following is how GoodRx makes money even after giving such a huge discount.
So, now that you know how GoodRx makes money, it will be much easier for you to understand why GoodRx stock has been falling.
GoodRx is losing the game on multiple fronts while a new rivalry is popping up – Amazon vs GoodRx!
This question is very tough to answer. But if we connect the dots of what Amazon has rolled out and acquired in the last few years, we can conclude very easily. And our conclusion is that GoodRx will have a difficult time!
Amazon acquired a New-York based pharmacy startup named PillPack a few years ago and it was the time when many industry experts caught the healthcare ambition of Amazon for the first time.
Amazon has real plans to conquer the world of pharmacy with what they have built over the decade. The CEO and co-founder of PillPack is now leading all pharmacy operations of Amazon under the brand name Amazon Pharmacy.
Amazon’s plan to bring its millions of Prime users under its Amazon Pharmacy brand will prove lethal for GoodRx. This gives Amazon instant access to millions of potential customers for its pharmacy services.
Where Amazon is doing an extraordinary job is its tech infrastructure and delivery network. Amazon accommodates the world’s some of the very smartest tech engineers who make it easy for Amazon to leverage product-led growth.
And its outstanding delivery network facilitates next-day or same-day delivery of prescription drugs. Amazon also serves users with insurance by partnering with top payers and for uninsured prime users, Amazon delivers 90% of the saving on prescriptions out of the box!
Amazon also provides telehealth services and at-home follow-up care for labs, tests, and treatment nationwide under its Amazon Care brand. And as if this is not enough, it also targets seniors’ well-being with the Amazon Together brand.
This way, when it comes to the user base, tech infrastructure, healthcare services, discounted drugs and delivery, Amazon is clearly winning – on its own without having a dependency on any partners!
We are an Ontario-based healthcare-focused IT company. If you have a healthcare idea, we have the knowledge to convert it into reality.
Being in the healthcare industry for 7+ years, we understand the fact that the market only welcomes either a unique idea executed in a common way or a common idea but executed in a unique way.
So, even if you want to achieve some very common health tech vision, we can make it huge and profitable with the perfect fusion of our healthcare knowledge and passion. And if you have a unique healthcare idea, we have a unique healthcare mindset and team.
Our team includes 50+ healthcare IT professionals (app developers, UI/UX designers, business analysts, QA engineers and compliance experts) who understand ins and outs of healthcare.
Not only this, but our team also includes healthcare professionals who help us to add clinical value to tech products.
So, let’s have a talk if you are serious about finding a tech partner who understands healthcare and has the same intensity of healthcare passion that you have!