Walgreens launches digital tool to tackle prescription costs

Photo: Joe Raedle/Getty Images

Walgreens has announced the launch of its new Rx Savings Finder, a digital tool designed to help customers save money on prescription medications, with Chief Pharmacy Officer Rick Gates framing the move as partly a response to inflation.

Rx Savings Finder finds free, third-party discount cards, providing patients with a more streamlined way to find lower prices on their Walgreens medications.

"Over one-third of Americans have avoided a prescription refill to reduce costs and with over 131 million Americans taking at least one prescription medication, this is very concerning," said Gates. "That is why we have launched Walgreens Rx Savings Finder – to empower our customers with transparent prescription costs and help them save money on medications."

WHAT'S THE IMPACT?

In an effort to alleviate patients' cost concerns, the tool offers savings on thousands of medications and provides transparent pricing before patients reach the checkout counter. Available online at Walgreens.RxSense.com, the tool is available to all Walgreens customers for free, with no monthly subscription or yearly membership.

The tool is available to all Walgreens customers at no cost. Patients can access the discount card prices by text message or email, which can be presented to a Walgreens pharmacy team member so the savings can be applied to the price of their prescription medications.

Walgreens touted some of the benefits of this – by consolidating the search process across multiple discount card websites, the company said, patients will save time and medication costs will go down. Walgreens also maintained it's a step toward alleviating the workloads of pharmacists.

"The response to our pilot program has been overwhelmingly positive, with both customers and our dedicated pharmacy staff reporting significant time and cost savings," said Gates. "One striking instance involves a pharmacist's recent account where our Rx Savings Finder tool helped a customer save over $75 on their prescriptions during a single visit."

THE LARGER TREND

Walgreens Boots Alliance has plans to cut over $1 billion in 2024 and to shutter 60 healthcare clinics in unprofitable markets. The company reported fourth quarter operating losses of $450 million, compared to $822 million operating losses during the fourth quarter of 2022.

Walgreens dispenses over a billion prescriptions annually across its retail and specialty pharmacies. An estimated 78% of Americans live within five miles of a Walgreens or a Duane Reade store and 58% of consumers are likely to visit a local pharmacy as the first step for a non-emergency health need, the company said.

In October, Walgreens announced it would offer direct-to-consumer virtual services.

Last month, the company said it would be laying off 267 corporate employees, which represents about 5% of that workforce.

Twitter: @JELagasse
Email the writer: Jeff.Lagasse@himssmedia.com