- What is SingleCare, and how does SingleCare work?
- How does SingleCare make money?
- Referral Fees from Partnering Pharmacies
- SingleCare profit and revenue
- What is the SingleCare business and revenue model?
- SingleCare funding, net worth, and valuation
- SingleCare subsidiaries, acquisitions, and exits
How does SingleCare make money if it’s so cheap? Well, here is a full, in depth, breakdown of their main revenue stream and services they offer, as well as the SingleCare business and revenue model, how much money SingleCare makes per year, and how SingleCare works.
What is SingleCare, and how does SingleCare work?
SingleCare is a healthcare service that compares Rx prices from a customer’s local pharmacies to get them the best prescription prices with up to 80% off discounts by giving them coupons they can use at checkout.
Founded in 2014 by Rick Bates, SingleCare now partners with more than 35,000+ pharmacies nationwide in the U.S. As well as having saved millions of SingleCare members over a total of $1+ billion in prescription savings, thus far.
So, how does SingleCare work? To use SingleCare, simply visit their website and or download their app from the Apple App Store or Google Play store.
Once you’re on their platform, search for the prescription(s) you’re looking for in the search bar of the homepage then tap “Search”. From the search results, you can then compare the lowest prices in your area and customize the dosage and quantity you’re looking for.
After that – text, email, or print your SingleCare coupon card and take it to the pharmacist you chose. Where they will then input the coupon number and your savings will be automatically applied at checkout.
How does SingleCare make money?
According to SingleCare, SingleCare partners with more than 35,000+ pharmacies across the U.S. And although they are vague, SingleCare claims to have saved millions of SingleCare members over a total of $1+ billion in prescription savings, thus far.
So how does SingleCare make money off of all these prescription savings for its members?
Below is a breakdown of how much money SingleCare makes and its revenue model. Including their main revenue stream and how much they charge for their services.
Here is how SingleCare makes money in 2022
SingleCare has a revenue model that makes money in just one (1) way; by receiving referral fees from their partnering pharmacies whenever they bring them business.
#1. Referral Fees from Partnering Pharmacies
At this time, SingleCare makes all of its money from the referral fees they receive from the pharmacies they partner with.
How does SingleCare make money from referral fees? The way it works is, SingleCare makes money every time a SingleCare user refills their prescription at one of the 35,000+ partnering pharmacies (such as CVS Pharmacy, Walgreens, etc) through the SingleCare platform.
When this happens, the partnering pharmacy will then give SingleCare a referral fee or some other form of compensation for bringing that pharmacy business. How much the referral fee is, is unclear at this time.
SingleCare profit and revenue
SingleCare has not released any official reports in regards to company earnings.
Note: Because SingleCare is a privately held company, they are not required to make their annual reporting, such as Form 10-K’s, pubic.
What is the SingleCare business and revenue model?
SingleCare makes money through a few revenue models that they combine within their company, they are:
- Commission based business model
- Business to business (B2B) business model
- B2B2C (partnerships) business model
SingleCare funding, net worth, and valuation
SingleCare’s Crunchbase profile shows SingleCare has not raised any funds to date.
SingleCare subsidiaries, acquisitions, and exits
To date, SingleCare has not made any acquisitions, investments, or exits.