Blink Health’s Price Match Guarantee on Generic Drugs Aims to Help Cure the High Cost of Medication in America

Blink Health’s Price Match Guarantee on Generic Drugs Aims to Help Cure the High Cost of Medication in America
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Adam West
By: Adam West
Posted: June 15, 2018
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In a Nutshell: Amid ongoing concerns and debate regarding the cost of prescription drugs in America, Blink Health has responded by offering a lowest-price guarantee on all generic medications. Statistics show Americans consume more prescription drugs, on average, than people in other countries, but they also pay the highest prices in the world for the same medications. Blink Health is taking the initiative in lowering these prices with extremely competitive, across-the-board discounts on all generic pharmaceuticals. With no membership fees and availability in every community across the country, Blink is an ideal way for Americans to enjoy better health without sacrificing financial wellbeing.

The high costs associated with curing and treating diseases have themselves become an epidemic in the United States. And everyone knows it, from the people paying the bills to their elected representatives.

“If you compare our drug prices to other countries in the world, in some cases it’s many times higher for the exact same pill,” President Donald Trump said in a March 19 speech in Manchester, New Hampshire.

According to The Washington Post, Americans take more prescription drugs than people in other countries, and, because the federal government does not directly regulate the drug market, they also pay higher prices. As a result, the average American spends $1,100 per year on prescription drugs.

“Patients shouldn’t face exorbitant out-of-pocket costs, and pay money where the primary purpose is to help subsidize rebates paid to a long list of supply chain intermediaries,” FDA Chief Scott Gottlieb said in an address to America’s Health Insurance Plans’ (AHIP) National Health Policy Conference on March 7.

Blink Health LogoIn response, Blink Health is now aiming to make that ideal a reality. Currently, users of the site and mobile app enjoy discounted prices on thousands of prescription drugs, and Blink Health is expanding its low-price guarantee to encompass all generic prescription medications.

“We’ve introduced a lower price that’s available on our website and our app in every community nationwide,” said Matthew Chaiken, Co-Founder and COO of Blink Health. “We thought the time was right to give patients access to an even lower price, and to make sure we’re backing that price with the price-match guarantee.”

Now, through Blink Health, Americans will have easy, fee-free access to deep discounts on generic pharmaceuticals. And that means they’ll enjoy better health and finally get some relief from the financial weight of high medication costs.

Responding to America’s Call for Lower Drug Prices

According to a poll conducted by the Kaiser Family Foundation, 58% of Americans take prescription drugs, and 25% use four or more prescribed medications. Meanwhile, 73% of Americans surveyed believe that pharmaceutical companies are profiting too much from the high cost of drugs, and 77% said they believe a company’s profit motive is a major contributor to high prices. Obviously, the majority approves of taking steps to lower drug costs.

Another GS Strategy Group poll indicates that 85% of Americans believe Congress should prioritize lowering drug prices, and nearly 75% believe that legislators and the Trump administration still have a lot of work to do.

In the meantime, Blink Health is leading the charge by offering the lowest market prices on more than 15,000 medications, saving users an average of $70 on their prescriptions. Because Blink Health is free to use, it has attracted a large consumer base, and the company is able to use that as leverage when negotiating for better prices with pharmacies, benefits managers, and drug manufacturers for better prices.

And, amid the political maelstrom surrounding drug costs and regulation, Blink Health is using market competition to drive down drug prices.

“Millions of American families struggle to afford the medications they need for themselves and their loved ones. We’re committed to providing everyone access to affordable medications,” Chaiken said.

Easing the Financial Burden of Pharmaceuticals

Blink Health’s users pay no membership fees. The service has no limitations, deductibles, or maximums, and it can be used in drug stores in every community around the nation. If a user’s current pharmacy doesn’t accept Blink Health, the company will transfer their prescriptions to one that does. The service is available to everyone — even people who have health coverage; whichever price is lower is the one they pay.

If a Blink Health user finds a pharmacy with a lower price on the same drug, Blink Health will refund the difference in a very straightforward manner.

“They can shoot us an email or give us a call, and we’ll make sure they receive that money back immediately,” Chaiken said.

Using Blink Health is simple. Search for your medication on the website, and make your purchase at the everyday low price or the Smart Deal price if it’s available at your pharmacy. After that, take your proof of purchase to the store and pick up your prescription, then enjoy the baffled looks of other customers as you pay nothing at the counter.

Making a Difference in the Lives of Consumers

The Blink Health difference is clear, especially based on testimonials from the site’s users.

“My total was 85% less than what I would have paid if I didn’t have Blink,” said Christina, a user from California. Another user, Susan from Ohio, said Blink made special arrangements with her pharmacy so her husband could get vital type 2 diabetes medication they otherwise couldn’t afford. And Elvin from Colorado uses Blink to get seizure medication without paying what he calls “exorbitant” prices that kept him living under perpetual financial stress.

Blink’s guaranteed low prices on generic prescription drugs will expand these benefits to millions more Americans. Gone are the days of splitting pills and skipping doses to stretch a tight medication budget; Blink Health’s new offer will effectively cut the middle out of what Gottlieb referred to as the “Kabuki drug pricing constructs” that drive up the prices consumers pay for generic prescriptions.

“This is a major pain point for middle-class Americans,” Chaiken said. “When we lower prices, we make drugs more accessible. When you make drugs more accessible, people follow their treatment plans, and they lead healthier and happier lives. It’s critically important that a company solve this problem, and we think we’re at the forefront.”

Ensuring Every American’s Access to Medication

Blink Health offers a cost-effective medication solution to every American — not just those with tight budgets.

“When it comes to saving on your prescriptions, Blink Health should be the only service you ever check out because we guarantee you’re going to get a fair price,” Chaiken said. “We’re making sure that’s available at a convenient pharmacy — basically, in every community nationwide.”

Blink Health’s free-market solution to overpriced drugs will help ensure that every American who needs life-saving medication will be able to afford it, but Blink isn’t stopping there.

“It’s important for innovators to constantly think about ways to lower prices even further. We think of this as a key step in our innovation cycle here at Blink Health,” Chaiken said. “We hope to have more things like it in the future and continue to bring down the cost of drugs.”