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GoodRx and RxVantage Announce Strategic Relationship to Streamline Communications Between Providers and Manufacturers
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
GoodRx, a digital healthcare platform, announced a strategic partnership with RxVantage to enhance provider access to pharmaceutical resources. The integration aims to streamline connections between over 700,000 healthcare providers and drug manufacturers, addressing the administrative burdens faced by providers when accessing medication information. This initiative is expected to improve patient outcomes by facilitating timely communication regarding therapies and support programs. GoodRx has saved consumers over $35 billion since its inception in 2011.
Positive
Strategic partnership with RxVantage to enhance healthcare provider access to pharmaceutical information.
Integration expected to streamline communication between 700,000 prescribers and drug manufacturers.
Aims to reduce administrative burdens on providers, allowing them to focus on patient care.
GoodRx has saved consumers over $35 billion since 2011, indicating strong financial performance.
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None.
New features will be integrated into the GoodRx platform and will allow providers to develop smarter connections with manufacturers so they can get the information and resources they need
SANTA MONICA, Calif.--(BUSINESS WIRE)--
GoodRx (Nasdaq: GDRX), a leading consumer-focused digital healthcare platform, today announced a strategic relationship with RxVantage that will enable healthcare providers to connect with manufacturers on the GoodRx platform. Over 700,000 prescribers have used GoodRx since June 2021, and GoodRx expects the new integration from this strategic relationship will enable them to easily connect with pharma representatives to ask questions about new therapies, indications, side effects, patient assistance programs, and clinical resources. By streamlining access to the valuable educational resources and expertise that pharmaceutical companies offer, the expected integration will be able to better serve already time-constrained providers and help them provide better resources to their patients.
The American Medical Associationestimates providers spend a significant amount of time per week trying to provide access to medications for their patients. This adds to an already heavy administrative burden and takes time away from providing hands-on care. By integrating RxVantage into its provider platform, GoodRx will be able to better address providers’ unique needs and help them achieve better patient outcomes.
“Since the beginning, GoodRx has focused on helping physicians and healthcare professionals help their patients, and with RxVantage, we are adding new tools designed specifically for them,” said Doug Hirsch, co-CEO and co-founder of GoodRx. “What makes our platform unique is our ability to connect providers and manufacturers in the right place at the right time, and in highly relevant ways. Our planned integration with RxVantage will make this offering even stronger - when providers come to GoodRx looking for information on a certain drug, we will be able to seamlessly connect them with the manufacturer to answer questions in a quick and effective way.”
Providers consult GoodRx at the point of prescribing to help their patients with access and affordability challenges. By offering a way for these providers to connect with pharma representatives, GoodRx will help create smarter connections between stakeholders and reduce the administrative burden so providers can put more focus on patient care. Expected to be available within the GoodRx for Providers platform, the integrated RxVantage features will provide a more customized experience and equip providers with the tools they need to support their patients throughout their healthcare journey.
“We’re excited to work with GoodRx to integrate our technology into such a relevant platform. Working together, we will be able to further empower users of GoodRx for Providers by directly connecting them with the nearly 60,000 active manufacturer representatives on RxVantage,” said Dan Gilman, co-founder and CEO at RxVantage. “Our goal is to ensure every provider has the most relevant educational information and resources needed to deliver the best care to every patient, and we look forward to finding even more ways to collaborate with GoodRx to achieve this goal.”
About GoodRx
GoodRx is a leading consumer-focused digital healthcare platform. Our technology delivers strong savings, trusted information and access to care to make healthcare affordable and convenient for all Americans. Since 2011, we have helped consumers save over $35 billion and are one of the most downloaded medical apps over the past decade.
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 the benefits of the strategic agreement between GoodRx and RxVantage and any integration of RxVantage on the GoodRx platform. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our 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 our acquisition strategy, the integration of acquired business and the important factors discussed under the caption “Risk Factors” in GoodRx’s Annual Report on Form 10-K for the year ended December 31, 2021, and our 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 management’s estimates 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.
GoodRx announced a strategic partnership with RxVantage to enhance provider access to pharmaceutical resources.
How many prescribers have used GoodRx since June 2021?
Over 700,000 prescribers have used GoodRx since June 2021.
What is the expected benefit of the GoodRx and RxVantage partnership?
The partnership is expected to streamline communication between healthcare providers and pharmaceutical representatives, reducing administrative burdens.
How much have consumers saved through GoodRx since 2011?
Consumers have saved over $35 billion through GoodRx since 2011.
