How Much Does It Cost to Build a Prescription Discount App like GoodRx?

Technological advancement has allowed us to carry everything we need. It requires enormous effort for people worldwide to order medications from the pharmacy. The COVID-19 epidemic made it almost impossible for patients to leave their homes, and the issue got plenty of attention.

Many Americans face the increasing cost of prescription medicines, which is a major problem. However, this problem offers entrepreneurs a huge opportunity to change the world. Discount apps like this have gained huge acclaim since they provide real solutions.

They allow people to manage their medical expenses, see them clearly, and save substantial amounts. Their success shows that there’s a large need for affordable healthcare options. Do you want to create an app that’s similar to GoodRx? In this article we will be discussing the factors that affect the cost of pharmacy app development like GoodRx as well as its development process.

What is the GoodRx App, and How Does it Work?

The amazing growth of GoodRx, with its $750.27M revenues in the year that ended on December 31st, 2023, offers a promising opportunity for entrepreneurs. This accomplishment highlights the app’s importance in providing the benefits of prescription discount apps. With its easy-to-use interface, GoodRx gives you significant savings on prescriptions, making medical care more affordable for all.

The app’s novel method of comparing prices for drugs across 70,000 pharmacies and the possibility of obtaining discounts of up to 80 percent with coupons has set a new benchmark on the market. This has strengthened consumers’ trust and demonstrated the potential of digital platforms to boost adherence to medication and overall health results.

Entrepreneurs who want to enter the world of digital health may take GoodRx’s approach as a template. Similar platforms could be created to provide the necessary affordable healthcare options. With this model, entrepreneurs will be able to significantly improve public health while also driving significant business growth.

Here’s a quick overview of how this platform operates –

>Data Aggregation

GoodRx creates alliances with pharmacies and Pharmacy Benefit Managers (PBMs) to collect actual-time pricing information for various prescription drugs. The information covers various pharmacies across the United States, allowing users to compare prices and choose the most cost-effective option in their region.

>User-Driven Search

Users can look up their medication using the drug’s name or its generic equivalent. Users can also enter their area of residence (zip number or state/city) to narrow the search results to local pharmacies.

>Price Comparisons and Savings

GoodRx lists nearby pharmacies that stock the medicine and their respective costs. This lets users quickly compare prices and determine the one with the lowest price.

>Coupon Generation

GoodRx generates a coupon or discount coupon when a customer chooses the lowest-priced alternative. This coupon is printed or downloaded electronically onto the user’s smartphone to present at checkout.

Explore More: Medicine Delivery App Development Guide: NowRx for Pharmacy in 2024

Features of a Prescription Discount App Like GoodRx

The escalating price of prescription drugs creates a huge opportunity for companies to empower consumers. A well-designed app for prescription discounts will allow users to enjoy huge savings and provide an attractive business model for entrepreneurs.

By focusing on ease of use, personalization, and cost transparency, the app for prescription discounts will build a loyal customer base and a solid market position. Here are the essential elements that make your app successful:

>Prescription Coupons and Discounts

It is easy to display prices across a variety of pharmacies. Users can control the way results are sorted: the lowest price first, then the closest location, or even putting the priority on the top-rated pharmacies. Discounts for negotiable pharmacies are essential, but consider forming partnerships with drug manufacturers to get rebates and/or specific coupons based on a customer’s past prescription history.

Be aware of discounts with restrictions, such as expiration dates, particular pharmacies, and so on, to avoid confusion at the pharmacy counter.

>Medication Information

Navigating medical information that is complex and daunting can be difficult. Create your app as a reliable source by working with a trusted medical database that provides reliable and easily understood information on medications.

Make sure to focus on what is most important for users: how to use it, possible negative effects, and crucial interactions with other drugs. This helps users make informed choices regarding their health.

>Prescription Reminder and Refill Alerts

Maintaining a regular medication schedule is crucial for a variety of illnesses. A well-designed discount app could be a valuable partner in your health. Provide customizable reminders, such as simple text messages or push notifications, or even integrate them with smartwatches to provide additional convenience. Make refills easier by letting users request refills through the app, which saves time and effort.

>User Reviews and Ratings

Reviews from customers are a useful tool. Encourage patients to review pharmacies and share their experiences. Naturally, you must review reviews and ensure they’re appropriate and relevant. Reviewing feedback with care has many advantages. It allows you to identify outstanding pharmacies and potential problems that could improve your app or pharmacist experience. If done properly, the content created by users can benefit you and your users!

>Search and Price Comparison

A fantastic prescription discount app can ease the stress of finding affordable medicines. Locating the correct medicine should be as simple as shopping online is for everything else. Users must be able to browse beyond drug names and search for medications according to conditions they treat active ingredients, conditions they treat, or even possible negative side effects that pose an issue. Autocompletion and smart suggestions streamline the search process, making it more user-friendly.

>Pharmacy Locator

Help patients find pharmacies that are suited to their needs, not just those nearby. Use filters to narrow results by factors like opening hours, whether they provide unique services like compounding or the language spoken by the staff.

Make convenience even more convenient by providing direct contact numbers for each pharmacy and the option to call and make refill requests right from the app without having to hunt for numbers.

Explore More: How To Create A Medicine Delivery Mobile App?

>User Accounts and Personalization

If a user is willing, the data they provide can improve their experience. You can use it to provide appropriate discounts, recommend less costly alternatives, or even detect possible interactions between the medications they’ve previously stored in their profile.

Privacy is a major priority. Ensure that users are in complete control over their personal data and can opt out of any personalization at any point. The first step in building trust is transparency.

>Secure Payment Integration

If your app is processing payments, you should make sure you have the best security. Users need to feel secure that their data regarding financial transactions is secure. Find out the most recent security protocols, regularly update your system, and keep yourself updated on any possible vulnerabilities.

How do Applications Like GoodRx Make Money?

GoodRx earns revenue through charges based on coupon redemptions, monthly subscription fees, and the online telehealth service and advertisements on the platform.

Let’s examine the income streams that make an app similar to GoodRx profitable.

>GoodRx Gold

GoodRx has launched an exclusive subscription service called GoodRx Gold. The program offers discounts on more than 1000 prescription medications and healthcare services.

>Advertising

Most searches on the platform are focused on brand-name medications protected by trademarks. These medications are typically expensive due to their limited effectiveness.

>Coupons

Coupons for patients are an important source of revenue. Patients reduce the cost of prescriptions.

GoodRx provides over 150 billion prescription price information points. Its coupons are accepted at over 70,000 pharmacy locations in the United States.

It earns money every time customers use the code to fill prescriptions. Partners, who are PBMs, are then able to pay customers. The fees come as a percentage of the partners’ profits or a set fee per transaction.

Interestingly, the platform earns money when a user fills out their prescription. The coupon is added to the patient’s profile on the pharmacy’s website. The coupon will then apply to refills in the future.

>Telehealth

GoodRx has developed a variety of telehealth-related products, including health check-ups.

It also offers its own medical examinations and a platform to compare other medical providers. Medical consultations are available for every condition, and the company earns revenue from charges paid by patients.

Factors Affecting Cost of Developing a Discount Coupon App such as GoodRx

When creating an app like GoodRx, many elements must be considered. Understanding these aspects is crucial in determining the overall price of the application. These are the main determinants discussed in depth.

>UI/UX Design

The design of the UI/UX is an essential aspect of the app’s user experience. A simple, intuitive design encourages longer engagement times. Easy access and navigation are crucial for apps that offer prescription discounts. Designing UI/UX of the highest quality requires experienced designers, which can increase the price of developing the apps for discount prescriptions.

Designing your app can increase the user experience and improve app usability. It’s an important aspect to consider. An effective UI/UX design makes your application appealing and simple to navigate, which is vital for keeping users. The balance between functionality and aesthetics is crucial for a successful app.

>App Integration with API Usage and Pharmacies and API Utilization

Integrating a prescription discount app with pharmacies using APIs is the foundation of the operation. These integrations provide immediate access to drug prices and availability. Establishing relationships with pharmacies and accessing their pricing data takes time and money. The GoodRx app developer must ensure that the integrations are secure and in accordance with healthcare regulations.

Therefore, when you hire dedicated mobile app developers to develop a prescription discount application, it is crucial to select one proficient in seamlessly connecting APIs. The difficulty of these integrations can dramatically impact the pharmacy mobile app development timeline and budget. A seamless API integration improves the users’ experience by offering accurate and current information. Thus, the expense and effort put into the integrations are crucial to the application’s success.

>Platform Choice

Selecting the appropriate platform is essential to managing online pharmacy app development costs. Developing applications for iOS and Android independently ensures the best performance, but it also increases the cost. Using a cross-platform platform will reduce costs and speed up development. However, it can result in a decrease in app performance and user experience.

The decision between iOS, Android, or cross-platform can affect the overall GoodRx app development cost. It affects the budget and the app’s reach and capabilities. The final decision must align with the intended audience and the project’s goals while balancing costs with performance and quality.

>Complexity and Feature Set

The level of complexity and features of an app significantly impact the cost of development. A simple app with a few features is less costly. As features grow and complexity increases, so too do associated costs. Features like comparisons between pharmacies, coupon systems, and user account accounts are vital. Integrating advanced functions such as artificial intelligence to provide individualized suggestions increases the prescription discount app’s development cost.

The development of an app similar to GoodRx requires meticulous feature design. Deciding which attributes to add is an essential choice. The choice you make directly affects the initial investment as well as long-term performance. Scalability and customization make it more difficult to estimate costs.

>Data Source and Management

Management and source of data are the keys to the functioning of an app for prescription discounts. Effective handling of huge drug data will ensure the accuracy of pricing and discounts to customers. The app must integrate with multiple databases to provide the latest information. This integration, which is essential for developing an app like GoodRx, usually requires advanced backend solutions.

The difficulty of managing and updating this information impacts your overall effort and costs. Reliable and secure data management systems are crucial for gaining user confidence. Investing in a solid data architecture will ensure that the app is relevant and useful. Proper data management is essential for the app’s performance and long-term viability.

>Security and Compliance

Safety and conformity are crucial elements in developing a prescription discount application. Conforming to healthcare regulations like HIPAA in the U.S. ensures user data security. It demands encryption, secure storage, and periodic security audits. These measures add cost to creating an app for prescription discounts because they require expert knowledge and modern technology.

Conformity with legal standards safeguards the app from possible legal problems. Investment in strong security frameworks and checks for compliance is crucial for establishing trust with users. This also protects the app’s reputation, stressing that these are crucial aspects during the development process.

Know More: How AI is Revolutionizing Medical Practice in the Future?

>Maintenance and Updates

Updates and maintenance are constant expenses that significantly impact the lifecycle of an app offering prescription discounts. After the app is launched, it requires regular updates for the latest functions, security updates, and changes to compliance. Continuous monitoring is essential to ensure the best performance and user experience. These actions prevent the app from being outdated in an ever-changing digital world.

Periodic revisions are made in response to user feedback and technological advances. Maintenance includes server costs, bug fixes, and adapting to new operating system versions. Therefore, establishing the funds for post-launch maintenance is vital to ensure the app’s relevance and engagement as time passes.

Making a successful prescription discount app demands the right combination of features, a user-centered layout, and a strong technological foundation. Depending on the intended functionalities and features, an app typically costs between $150,000 and $400,000. To manage this complicated development process efficiently, working with an experienced and reputable pharmacy app development company is crucial to getting the most effective results.

Why Should You Build an App Like GoodRx?

You should now know the way GoodRx is working and earn some money out of it.

It is, therefore, an excellent idea to develop a pharmacy application similar to GoodRx.

Why is that? It’s because it’s a time-saving, cost-saving, and effort-saving application. Beyond that, there are many other reasons to think about creating an app similar to GoodRx.

• There are fewer competitors in markets for this kind of service.
• People tend to opt for a pharmacy at home for the delivery of drugs and also virtual care.
• It reduces time and costs for the customer.
• The most important thing is that discount coupons and coupons are free, which can attract more customers.

How to Develop an App Like GoodRx?

The development of an app that is similar to GoodRx requires a structured and well-thought-out process. The following are the most important erysteps to follow:

>Market Research

Conduct a thorough market study to determine the demands and problems of your intended customer group. Examine the competition, comprehend customers’ expectations, and determine ways to differentiate yourself.

>Define Features and Functionalities

Define the functions and features the app will provide. A few essential functions to consider include price comparison for medications, pharmacy locator, prescription discount cards, details about medications, and user profiles.

>Choose a Tech Stack

The choice of the best technology stack is essential to your app’s performance. Consider factors such as security, scalability, and the capability to connect with APIs from other vendors for data about medications and pharmacies.

>Wireframing and Design

Create wireframes and mock-ups of your designs to show the user interface and overall user experience. Ensure that the layout is user-friendly and meets the requirements of your intended user.

>Development

Begin the pharmacy mobile app development process with the selected tech stack and the design. Break the development down into short sprints, and periodically test the functions to detect and fix any issues as soon as they arise.

>Integration with APIs

Integrate your app with pharmacy APIs to get real-time pricing and medication details. Ensure that your app is providing current and accurate data to users.

>Testing

Conduct thorough testing, including usability, functionality, and security tests. Find and fix any issues or bugs that might affect user experience.

>Launch

After a thorough test and refinement, run your application on the intended platform (iOS, Android). Be aware of promotions and marketing activities to bring awareness to your app and entice customers.

Know More: How To Build A Medical Billing Software: Cost, Types & Key Features

The Key Takeaway

To build an app similar to GoodRx, you must follow numerous guidelines to comply with industry standards. If you fail or make a mistake on any of these, the app may not function well compared to other apps on the app store. Before beginning with the process of online pharmacy app development solution, it is recommended that adequate studies be conducted.

Making a prescription discount app such as GoodRx is difficult but also lucrative. By analyzing the market, offering important features, selecting the appropriate technology, and creating a sustainable revenue model, it is possible to create an app that can help people access low-cost medications and build a successful business. The process of going from conception to launch demands meticulous preparation and implementation.

An app that is successful must not only offer users genuine benefits in the form of significant savings but also be able to navigate the healthcare industry’s maze and create solid partnerships with pharmacies.