GoodRx co-CEO: We are happy Amazon is joining online health care space

GoodRx Co-CEO Doug Hirsch told FOX Business' Liz Claman that he is not concerned about Amazon entering the pharmacy business.

"GoodRx actually is not a pharmacy. We don't put pills in bottles and sell them. We work with pharmacies including Amazon," Hirsch said on The Claman Countdown Tuesday. "So we're very happy that Amazon's in the space."

Hirsch noted that the relationship between the two companies started when Amazon acquired PillPack in 2018, a full-service online pharmacy that packages and delivers medications to consumers on a monthly basis.

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He believes Amazon's move could ultimately allow more people to get cheaper prescriptions by mail, but acknowledged the trouble pharmacies have had convincing customers to switch to mail prescriptions.

"Mail is really hard. It's only about five percent of the prescriptions in this country. And I think we'd all like it to be more," Hirsch said. "What Amazon announced was just they are going to continue another experiment to see if they can get more people to switch."

Hirsch said that rather than trying to compete with Amazon, GoodRx's primary focus is about educating Americans and giving them the tools they need to help them fight back against the coronavirus pandemic.

"We're a company that's really founded in getting consumers the right answer first, and we've always been patient first for the last decade that we've been doing this. So we're going to provide consumers the right information, especially with covid," Hirsch said. "But my primary focus is just on educating Americans and giving them the tools they need so that they can get this vaccine and move on with their lives. So we're really excited to provide information. That's what we do best. And we will definitely be working with America's pharmacies to answer these questions."

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Amazon Pharmacy allows customers to complete an entire pharmacy transaction on their desktop or mobile device through the Amazon App. Customers will create a pharmacy profile, where they can add insurance information, manage prescriptions, and choose payment options before checking out.

Amazon Pharmacy customers 18 years or older are given wide transparency on medication information, including what the branded and generic versions of a prescription are as well as the different forms or dosage amounts that can be prescribed. Customers can order prescription medications for home delivery by simply asking their licensed health care provider to send new or existing prescriptions directly to Amazon Pharmacy for fulfillment. Orders are then delivered in discreet packaging to the customer’s preferred address.

Before checking out, the online store will also compare a customer's insurance co-pay, price without insurance, or the available savings under the Prime prescription savings benefit to choose the lowest available price option.

Prime members receive unlimited, free two-day delivery on orders from Amazon Pharmacy included with their membership. The new prescription savings benefit card gives Prime members discounts of up to 80% off on generic prescription medications and 40% off brand name medications at over 50,000 participating pharmacies nationwide, including Amazon Pharmacy and the PillPack by Amazon Pharmacy service and in-store pharmacies like CVS, Walmart, Rite Aid, and Walgreens.

In addition, Amazon Pharmacy offers online self-service help options as well as 24/7 phone access to pharmacists who will answer any questions about medications at 855-745-5725.  Amazon Pharmacy is available in 45 states, with the exception of Hawaii, Illinois, Kentucky, Louisiana and Minnesota, and it is accepted by most insurance plans.

GoodRx stock closed at $38.04 at the end of Monday's trading session, down nearly 3%.

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