SingleCare

SingleCare operates as a healthcare technology company providing a free prescription savings service designed to make medications more affordable for consumers across the United States. The company was established in 2015 by Rick Bates, who now serves as the CEO of SingleCare and its parent company, RxSense. Bates, a Wharton MBA graduate, leveraged nearly two decades of executive experience in the pharmaceutical and managed care industries, including leadership roles at companies like UnitedHealth Group and as President of Catalyst Rx, to address the lack of price transparency in the prescription drug market. His personal and professional experiences fueled the creation of a model to offer more affordable and accessible healthcare.

The company's business model is centered on providing a free-to-use platform, available via a website and mobile app, that allows users to compare prescription drug prices at participating pharmacies. It is not insurance but can be used as an alternative, often providing a lower price than an insurance co-pay. SingleCare has established direct partnerships with over 35,000 pharmacies nationwide, including major chains like CVS, Walmart, and Walgreens, to negotiate lower prices on more than 10,000 medications. Revenue is primarily generated through a commission-based structure; when a customer uses a SingleCare discount card or coupon, the partnering pharmacy pays SingleCare a small referral fee for directing the business to them. This model benefits consumers with savings, while pharmacies gain increased customer traffic. The company may also generate revenue from data analytics services and advertising partnerships with pharmaceutical manufacturers.

The service is accessible to everyone, regardless of their insurance status, without any membership fees or eligibility requirements. Users can search for a specific medication, view discounted prices at nearby pharmacies, and present a free, reusable digital or physical savings card to the pharmacist to receive the discount. Registered members can access additional savings and earn rewards on eligible prescriptions. To further enhance accessibility, SingleCare launched a home delivery service in partnership with GeniusRx. The platform has also expanded to offer discounts on dental services, vision care, and virtual doctor visits. A key feature is the ability to look up a drug's price history, adding a layer of transparency for the consumer.

Keywords: prescription savings, pharmacy discounts, drug price comparison, healthcare technology, medication costs, pharmacy benefit manager, Rick Bates, RxSense, prescription coupons, healthcare affordability, digital health, pharmacy savings card, medication price transparency, consumer healthcare, online pharmacy, prescription delivery, uninsured, underinsured, healthcare savings, medical cost reduction