GoodRx debuts Prescription Cost Tracker

GoodRx is unveiling Prescription Cost Tracker where it will monitor out-of-pocket prescription spending trends in the U.S. to help Americans better understand prescription affordability and price transparency. 

There are three key factors driving the financial burden for prescriptions: high medication costs, reduced insurance coverage and increased friction. The Prescription Cost Tracker, which will be regularly updated to reflect the latest available data, helps examine these factors and illustrate why 51 million Americans leave prescription medications unfilled every month and many more face high costs at the counter.

[Read more: GoodRx unveils Medicine Cabinet]

Policymakers and pharmaceutical manufacturers are making efforts to improve medication access and affordability, but costs continue to be a significant burden for many. GoodRx found:

• $21 billion has been spent out-of-pocket on prescriptions so far in 2024
• $16.26 average out-of-pocket spent per prescription
• 37% increase in list price for all prescription medications since 2014

Health care is often paid for by insurance, but more Americans are caught in a “Big Pinch” as insurance plans—both Medicare and commercial—cover fewer medications and add more restrictions on coverage:

• 54% of medications are covered by insurance (based on Medicare plans)
• 50% of medications that are covered by Medicare have an insurance restriction (e.g. step therapy, prior authorization)
• 25% of Americans have at least one prescription not covered by insurance

Difficulty navigating insurance hurdles and supply shortages have created more and more obstacles for patients. GoodRx found:

• 41 million Americans lack proper access to a pharmacy
• 51 million Americans leave a prescription at the pharmacy every month
• 20% of Americans have an out-of-stock prescription

[Read more: Unleashing the Power of Medication Adherence: Empowering Patients and Caregivers] 

“Despite efforts by policymakers and industry leaders to break down affordability and accessibility barriers, a patient’s actual out-of-pocket cost continues to increase and is often a huge surprise to them,” said Scott Wagner, interim CEO of GoodRx. “We at GoodRx are working to bring affordability and transparency to Americans. With our new Prescription Cost Tracker, we aim to provide an easy-to-understand, continuously updated resource that will help aid in the fight for lower costs for all.”

To learn more and view the GoodRx Prescription Cost Tracker, visit here.