CVS Health, Sharecare Launch Digital Drug Discount Card

Forbes, Bruce Japsen, Senior Contributor

Digital health company Sharecare has launched a “digital pharmacy savings card” to help the uninsured and those with high deductibles get access to discounts on prescription medicines from CVS Health’s vast pharmacy network.

Known as Sharecare Rx, the discount is different than traditional drug discount cards in that consumers download Sharecare's app and can immediately search for specific medications, prices and pharmacy locations . Financial terms of the Sharecare partnership with CVS weren’t disclosed.

Though Sharecare Rx is initially being touted as for the uninsured or those who lack sufficient drug coverage, executives say it can also serve as a “second opinion” for consumers in any drug plan to compare prices and access to prescription medicines. Sharecare Rx is a new part of Atlanta-based Sharecare’s digital health platform.

“By partnering with CVS Caremark to build Sharecare Rx into our platform, we are removing barriers to empower consumers to truly manage all their health in one place,” Sharecare co-founder and CEO Jeff Arnold, who also founded WebMd, said in a statement accompanying the announcement. “We are also actively working with our health plan and employer partners to integrate their formulary coverage and pricing into Sharecare so their members can seamlessly access their prescription benefits, as well as information and tools to help them adhere to a healthier regimen.”

It’s the latest effort by startups and other new entrepreneurial entrants in the prescription business to help consumers gain better information about the costs and quality of their medicines.