Portfolio News| March 2019

Modernizing Medicine Works with GoodRx to Improve Price Transparency and Medication Affordability for Patients

Boca Raton, Fl - Specialty-specific health information technology leader Modernizing Medicine, is pleased to announce the collaboration with GoodRx, America’s leading source for prescription and healthcare savings. Modernizing Medicine’s specialty-specific EHR, EMA™, will interface with GoodRx, connecting doctors with real-time pricing intelligence on thousands of drugs at nearly every pharmacy in the United States.

This collaboration will provide physicians with access to prices at the point of prescribing, and in turn, provides patients with better access to affordable prescription medications as well as a better understanding of their overall out-of-pocket expenses.

“Too many patients leave the doctor’s office with no sense of what their prescriptions will cost at the pharmacy,” said Doug Hirsch, co-founder and co-CEO of GoodRx. “We believe GoodRx helps doctors provide better guidance and prescription information to their patients, and gives patients access to accurate and up-to-date pricing information for the drugs they need. Not only can doctors see what their patients would be expected to pay at the counter ahead of time, but patients can compare prices at local pharmacies and receive coupon discounts as well.”

This collaboration is well-timed, coming when the high cost of prescriptions is a national concern – not just for those without insurance, but increasingly affecting people with insurance who find themselves with a high deductible plan or prescribed an off-formulary prescription. These are the situations when GoodRx is most useful, as it provides patients with instant access to drug cost comparisons and savings options for nearly all prescription medications at over 70,000 pharmacies in the U.S. Since the company’s launch in 2011, over 10 million Americans have used GoodRx to save up to 80 percent on thousands of prescriptions, totaling over $9 billion in savings.

“Price transparency and medication affordability is a growing concern within the healthcare industry and we are committed to providing physicians with as many options as possible to help them better serve their patients,” said Dr. Michael Sherling, Modernizing Medicine’s co-founder and chief medical and strategy officer as well as a practicing physician himself at Palm Beach Dermatology. “This interface between GoodRx and Modernizing Medicine, delivering prices, content and cards, at the point of prescribing will help patients determine with their doctors what treatments are effective at a price they can afford. We believe this should improve both patient’s access to care and medication adherence.”

Modernizing Medicine’s leading specialty-specific EHR currently offers patients and providers access to price transparency tools for prescription medications offered through their health insurance. By working with GoodRx, Modernizing Medicine will provide additional resources for reduced prescription costs and price transparency for uninsured patients paying for medications out-of-pocket.

Content contained in this blog post is not intended to and does not constitute investment advice. Your use of the information in this blog post and materials linked is at your own risk. Spectrum Equity does not make any guarantee or other promise as to any results that may be obtained from using this content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. Past performance is not indicative of future results, and there is a possibility of loss in connection with an investment in any Spectrum Fund. To the maximum extent permitted by law, Spectrum Equity disclaims any and all liability in the event any information, commentary, analysis, and/or opinions prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses. The specific companies identified above does not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable.