As the pandemic took a toll on the world, keeping well and staying safe became imperative to follow quarantine guidelines. The pharmaceutical industry spectated a sea change as people prioritize stocking up essential medicines and immunity boosters. Therefore, online pharmacy players such as Goodrx and Amazon enjoyed a big share of profit in the industry during this phase.
If you want to join the online pharmacy industry with platforms like Goodrx or Amazon, you are confused about which is better. You are on the right page. You will get information regarding how both platforms work. Considering their working style will make your decision easier and better.
What is GoodRx?
GoodRx is an online platform that helps to find medications at the lowest prices via the website or mobile app. GoodRx sells medicines at the lowest price to keep your prescription cost. Most people also choose Goodrx instead of health insurance or government-funded programs, such as Medicare or Medicaid. GoodRx is also known for providing healthy discounts to users that can reduce the cost from $158 to just over $36!
Key features of Goodrx app
- Search & Compare Prices: One can easily compare more prescription prices at than 70,000 U.S. pharmacies. End-users highly appreciate this feature, and medicine reached their store.
- Get Free Coupons: GoodRx allows users to save more than 80% on the prescription cost. These can be either paid by cash, card, or from the wallet.
- Save Your Prescriptions: One can easily track prices from various stores and get notifications for the latest saving alerts about medicine’s reduced prices to stock availability.
- Show To Your Pharmacist: Your end-users can get plenty of pharmacist options just by uploading the prescription. The amazing feature keeps the customers engaged for a longer time and gets desired results at a diminishing cost.
How Does GoodRx Work?
- To find the cheapest medicine, all your users must visit a good official website or download a mobile app.
- Typing a drug name can help to find relevant results with the same drug name.
- Now, the relevant results appear on the user’s screen.
A good pharmacy serves as a great aid for users that are stepping into the same store every time. Even when the user is at a doctor’s clinic, can check the prescription and may ask for an affordable script.
Once users find the best medicines, they can add a valid coupon to get hefty discounts.
How Does GoodRx Make Money?
GoodRx makes money from ads on its platform, fees paid on coupon redemptions, a monthly subscription fee, and telehealth services. Another major source of GoodRx revenue is funding from equity shares. Therefore it raised a total of $872.9 million across 6 rounds.
These are the major revenue models used by Goodrx.
What is Amazon pharmacy?
On 17th November 2020, Amazon ventured into the retail pharmacy sector with an online marketplace like Amazon Pharmacy. At this place, customers can complete their pharmacy transactions through Amazon’s website via the Amazon app. Amazon Pharmacy serves in the United States, with over 50,000 participating pharmacies. Besides, Amazon’s Loyal Customer Base, fastest medicines home delivery, discounted drugs prices keep it stand out.
Key features of Amazon pharmacy
- Upfront price transparency: Amazon pharmacies allow customers to compare different companies’ prices at one time. One can determine the cost of each prescription either by paying from the insurance company or from a discount card.
- Prescription savings card: Amazon prime members can save up to 80% off on generic prescriptions and 40% off on branded medication when paying without insurance.
- Free two-day shipping for Prime Members: Under Amazon Pharmacy, more than 50,000 registered pharmacies can deliver products within two days for amazon prime members.
- 24/7 customer service: Amazon offers 24/7 online self-service support over the phone with real pharmacists. Therefore, one can check or buy any drug from Amazon pharmacy.
How Does Amazon Pharmacy Work?
- Embark medicines purchasing journey with quick Sign in process. The whole process will not take more than 5 min and can be completed with a mobile or email id.
- The next step is to search for desired medicines and compare the best-suited options with your desired results. Users can also compare prices side by side.
- Users cannot buy prescription medicines without uploading prescriptions.
- The next step is to add selected medicines to the cart and place an order with instant or scheduled delivery.
- The latest step is to add address details and payment methods. Users can pay via cash on delivery or pick an online method.
How Does Amazon Pharmacy Make Money?
The multi-vendor app owner gets a handsome return from every order by way of commission from the seller. Besides that, Amazon generates revenue from advertising, paid user subscriptions against special perks, vendor registration/selling fees, exclusive brand partnerships, and shipping fees.
GoodRx Vs. Amazon Pharmacy: Keep An Eye
If you are ready to build a medicine delivery app, whether it is like Goodrx or Amazon Pharmacy. Do not forget, few fundamentals in an app;
- Easy Registrations
- Quick Search & Suggestions
- Secured, Multiple Payment Options
- No room to distract customers
- The simple and fast checkout process
- Social media integration
- Should have Wishlist
- Prompt Notifications & Alerts
- Ratings & Reviews to know product or vendor authenticity
- Order management for hassle-free results
Bottom Line
Hoping the above information helps you to know both these platforms. Depending on the working style and revenue model, you can go with any of these models. If you are still in a dilemma, do not forget to consult with a professional app development company and define your business niche, budget, and USP. Experts from the company help you finalize the development and design segment, app optimization and guide you with trending marketing and promotion strategies.
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