Purpose Before Profit: Matthew Herfield Of BuzzRx On The Benefits Of Running A Purpose-Driven Business
An interview with Chad Silverstein
…A strong work ethic is essential, along with the ability and willingness to put in the necessary hours. For many years, I never took a day off and consistently worked harder and longer than most were willing to do. This commitment to going above and beyond has been crucial in driving both personal and professional growth…
In today’s competitive business landscape, the race for profits often takes center stage. However, there are some leaders who also prioritize a mission-driven purpose. They use their business to make a positive social impact and recognize that success isn’t only about making money. In this interview series, we are talking with some of these distinct leaders and I had the pleasure of interviewing Matthew Herfield.
Matthew Herfield is Chairman & CEO at BuzzRx, a leading prescription discount company that supports nonprofits year-round. In 2010, Matt co-founded BuzzRx (formerly Watertree Health) with the mission to improve community health by enhancing medication affordability through direct relationships with major pharmacy chains nationwide. In addition to his role at BuzzRx, Matt serves as CEO, Managing Member, and Operating Board Chairman of Potentis Capital, established in 2014. Potentis Capital is an entrepreneurial private equity fund that specializes in establishing new businesses, forging partnerships for growth, and giving back through social responsibility.
Thank you so much for doing this with us! Our readers would love to get to know you a bit better. Can you tell us your “Origin Story”? Can you tell us the story of how you grew up?
From an early age, I cultivated an entrepreneurial mindset. Both of my parents worked tirelessly, instilling in me the importance of earning and working for what I desired. They made it clear that nothing would be given to me without effort. By the time I was age 6, I was already seeking ways to earn money for toys and other things I desired. I washed cars at the salon my mother worked at and sold fruit to her customers, constantly exploring new opportunities to generate income. I attribute much of my strong work ethic to my parents, whose lessons have profoundly influenced my approach to both business and life.
On the charitable side, while my parents were often busy with their own work, they were always incredibly generous when others came to them in need. I witnessed firsthand how they not only gave their time and attention to those who required it but also offered financial support whenever possible. Time is valuable, and my parents demonstrated remarkable generosity by dedicating their precious time to helping others. I learned the value of kindness from them and helped when and where I could. As I grew older and met people facing more serious life challenges, I found great fulfillment in being able to assist others. For me, giving back has always been a deeply rewarding experience, one that reinforces my belief in the transformative power of generosity and compassion.
Can you share the most interesting story that happened to you since you began leading your company or organization?
The pandemic presented an unprecedented challenge, both personally and professionally. Navigating the trauma and uncertainty it brought to my family and employees — many of whom I consider family — was deeply difficult. I was equally concerned about maintaining a profitable business while ensuring our customers had access to the life-saving medications they relied on. The uncertainty of the future, especially with a sales force of over 250 people unable to perform their daily duties, made it even more challenging for me to motivate them and foster a sense of optimism about brighter days ahead. But I did it, day in and day out because the company I built and the team I carefully selected have been fundamental to my success. I felt a deep responsibility to support and uplift the people who helped me create this business. Though unspoken, I believe making myself available through open communication played a crucial role in helping my employees and their families weather this unprecedented storm.
As many people lost their jobs, faced layoffs, or lost their insurance, I remained committed to providing essential discounts on critical medications to help keep Americans healthy. This required us to pivot and adapt our business model quickly, ensuring we still met the community’s needs while keeping the business running smoothly. It was a period of constant change, but our unwavering focus on support, compassion, and flexibility enabled us to navigate it successfully.
We often learn the most from our mistakes. Can you share one that you made that turned out to be one of the most valuable lessons you’ve learned?
In a previous venture, I founded a point-of-care dispensing business in my mid-20s, bringing on seven additional partners and steadily growing the business. Along the way, I met a future partner with whom I had in-depth discussions about my company. He was impressed by my business acumen but cautioned that having so many partners could create complications, predicting that they would eventually take advantage of me. Unfortunately, his advice proved to be accurate. I tend to see the best in people, so I was deeply disappointed by those I had trusted. It was a difficult lesson to learn.
Once his predictions came to fruition, I reached back out to him again, and together, we co-founded BuzzRx (formerly Watertree Health). While I learned many valuable lessons the hard way, those experiences strengthened my resolve to work with trusted partners moving forward and making a meaningful impact on the world.
As a successful leader, it’s clear that you uphold strong core values. I’m curious what are the most important principles you firmly stand by and refuse to compromise on. Can you share a few of them and explain why they hold such significance for you in your work and life?
For me, the foundation of both personal and professional success lies in compassion and honesty. I believe in always doing right by people — treating them with the respect, fairness, and dignity they deserve. The Golden Rule has always been a guiding principle in my life: treat others the way I would want to be treated. This means being transparent, honest, and accountable to the people I work with, whether they are employees, partners, or customers.
It’s not just about the end product or the profit — it’s about building relationships and fostering trust. When you care about people, listen to their needs, and show genuine empathy, you create an environment where people feel valued. That’s how you build long-term, meaningful connections. Ultimately, success isn’t just measured by financial outcomes but by your impact on those around you. A business built on trust, compassion, and integrity creates not only positive results but a legacy that reflects those values.
What inspired you to start a purpose-driven business rather than a traditional for-profit enterprise? Can you share a personal story or experience that led you to prioritize social impact in your business?
Starting BuzzRx was a deeply personal decision for me, and it was driven by both my own experiences and the recognition that healthcare, especially prescription medications, should be accessible to everyone — regardless of their financial situation.
A few years ago, I had a close family member who was battling a chronic illness. Despite the significant advancements in medical treatments, the cost of prescriptions was a constant barrier. I remember feeling both helpless and frustrated as I watched someone I loved struggle to afford the medications they so desperately needed. This experience was a wake-up call for me. It made me realize that there are millions of people who are facing similar challenges, and the healthcare system — while incredibly innovative — was leaving many behind due to the high costs of medications.
I knew I had to do something about it. Instead of continuing to work within the traditional for-profit business model that often prioritized margins over people, I wanted to create a company that would disrupt the status quo and make a real difference. BuzzRx was born out of the idea that businesses should have a dual purpose: to generate value but also to solve real problems. We aim to help people save money on prescriptions while promoting transparency in the healthcare system. The financial savings we provide can make a meaningful impact on people’s lives, especially for those who are struggling to make ends meet.
What drives me every day is knowing that BuzzRx isn’t just a business — it’s a movement. Our work isn’t just about revenue growth or profits; it’s about social impact. We’re committed to improving lives and providing solutions that matter, all while fostering a culture where purpose comes first. If we can help alleviate the financial burden of medications for even one person, then we’ve done our job. I believe that’s the kind of business that can truly change the world.
Can you help articulate a few of the benefits of leading a purpose-driven business rather than a standard “plain vanilla” business?
I’ve come to realize that people genuinely feel good about what they’re doing when they are part of something bigger than just earning a paycheck. Our employees and customers alike understand that there’s more to their work than just financial compensation. If someone is working solely for money, it’s just a job — it becomes something they do to pay the bills, and they don’t feel deeply connected to it. But when there’s a greater sense of purpose, when people feel that what they’re doing is making a difference, that’s when their work becomes truly fulfilling.
For us, helping people and supporting charitable causes has always been something that excites us and motivates us to get up every morning. It’s a mission that gives meaning to our work and drives our passion. We’ve always valued individuals — whether they are employees or customers — who share this same sense of purpose and who value making a positive impact in the world.
In fact, many of our customers choose our product not just for its quality but because it aligns with our commitment to charity. They appreciate knowing that their choice to use our services is helping to support causes they care about. This alignment between purpose and action creates a deeper connection to our brand and strengthens the loyalty of those who support us. The charitable aspect of what we do resonates with people, and it adds an additional layer of fulfillment to their experience with our company.
How has your company’s mission or purpose affected its overall success? Can you explain the methods or metrics you use to evaluate the impact of this purpose-driven strategy on your organization?
Since I co-founded BuzzRx, our mission has been to build healthier communities by offering discounted prescription prices at pharmacies nationwide. Our health-focused charitable partnerships reinforce BuzzRx’s dedication to giving back to the communities it serves by transforming savings into support for those who need it most. While our impact is felt nationwide, our efforts are deeply rooted in local communities. By simply saving on their prescriptions, customers directly contribute to four life-saving causes at no additional expense:
- Make-A-Wish®: Helping grant local wishes for children with critical illnesses.
- ASPCA®: Supporting vulnerable animals in shelters, increasing their chances of adoption.
- Food Banks, members of Feeding America®: Providing meals to food-insecure individuals, including children, seniors, and hardworking families.
- National Kidney Foundation®: Raising awareness and enhancing access to care for those battling chronic kidney disease.
This year, we celebrated a significant milestone with the relaunch of our nonprofit partnership program, BeeKind with BuzzRx. Since its inception in 2013, the program has grown into a cornerstone of our mission, and we’re proud to have donated over $10 million to four nonprofit organizations. This achievement reflects the deep alignment between our purpose-driven strategy and our overall success.
To evaluate the impact of our mission, we use a combination of financial metrics, community feedback, and employee engagement levels. By tracking the donations made, the tangible outcomes of the causes we support, and the positive influence this has on team morale, we can see how our commitment to social good not only strengthens our brand but also drives employee pride, customer loyalty, and overall business growth. The success of BeeKind is a testament to how a purpose-driven approach can have a lasting and measurable impact on both the community and our organization.
Can you share a pivotal moment when you realized that leading your purpose-driven company was actually making a significant impact? Can you share a specific example or story that deeply resonated with you personally?
One pivotal moment when I realized the profound impact of leading a purpose-driven company occurred during my first visit to a Make-A-Wish wish celebration in Chicago. Several members of our sales and corporate teams joined to take part in the experience as well. BuzzRx celebrated our 250th wish granted for a young boy named Christian, who dreamed of becoming a crime-fighting superhero. The day the event took place, I watched this shy young man transform into a confident protector of the Chicago streets. Seeing the joy on his face as his wish came true was deeply moving. He was overjoyed by how many people came together to make his dream a reality. Witnessing his happiness and the gratitude of his family was incredibly heartwarming and reaffirmed the power of our work.
Since then, I’ve had the privilege of bringing my own children to wish celebrations. I believe it’s important to share these experiences with them and instill the values of kindness, generosity, and service to others. I hope they carry these lessons with them throughout their lives and understand the lasting impact acts of charity can have on individuals and communities.
Have you ever faced a situation where your commitment to your purpose and creating a positive social impact clashed with the profitability of your business? Have you ever been challenged by anyone on your team or had to make a tough decision that had a significant impact on your finances? If so, how did you address and reconcile this conflict?
I’ve faced many situations where my commitment to purpose and social impact has clashed with the profitability of my business or potential investors and partners. Even my employees sometimes struggle to see the value in prioritizing charity, especially during challenging times or years when profits are lower than expected. In those moments, the pressure to focus solely on the financial bottom line is intense, but I don’t back down from my values.
I firmly believe that if you do the right thing — treat people with kindness, respect, and fairness — it ultimately pays off. I’ve found that staying true to my values and prioritizing the greater good has always come full circle in ways I didn’t expect. It’s not always easy, and there are certainly tough decisions to be made, but I know that long-term success isn’t just about financial gains. It’s about building relationships, trust, and a reputation for doing right by people.
I’ve always maintained that the right choices will eventually align with the best outcomes. By staying true to my principles and making sure they are embedded in the culture of our business, I’ve been able to reconcile the tension between profitability and purpose. It’s a choice I’ve never regretted, and in the end, it’s served me and my company far better than simply chasing profits would have. You truly get what you give, and I’ve seen that play out time and time again.
What advice would you give to budding entrepreneurs who wish to start a purpose-driven business?
If profit is the only driving force behind your actions, I believe long-term success will remain elusive. True success is rooted in creating an exceptional product or service that addresses a genuine need or solves a real problem. Ultimately, the “why” — the purpose and mission that underpin your business — must be the most important aspect when starting and growing a company. It is this sense of purpose that not only drives innovation but also sustains you through challenges and ensures lasting impact.
I also strongly believe that you should focus on enjoying the climb rather than reaching the summit.
What are your “5 Things You Need To Create A Highly Successful Purpose-Driven Business.”
1. Integrity
2. Stamina
3. Commitment
4. Courage
5. Compassion
Additionally, a strong work ethic is essential, along with the ability and willingness to put in the necessary hours. For many years, I never took a day off and consistently worked harder and longer than most were willing to do. This commitment to going above and beyond has been crucial in driving both personal and professional growth.
I’m interested in how you instill a strong sense of connection with your team. How do you nurture a culture where everyone feels connected to your mission? Could you share an example or story that showcases how your purpose has positively influenced or motivated people on your team to contribute?
Building a strong sense of connection with my team starts with aligning everyone to a shared purpose. One powerful example of how we nurture this culture is through our collaboration with our nonprofit partners, including Make-A-Wish and the American Society for the Prevention of Cruelty to Animals® (ASPCA®), the National Kidney Foundation, and sixteen regional food banks. Our cause marketing programs have inspired team members to become volunteers, participate in local walks, and find additional ways to get more involved with the causes that BuzzRx supports. Every year, as part of our commitment to giving back, we dedicate extra funds to celebrating the donation milestones we reach with our nonprofit partners. For example, BuzzRx will be granting a special wish in recognition of 800 wishes granted since 2013.
What makes this so meaningful is how our employees — whether in sales, corporate, or other departments — come together to celebrate each child’s wish being fulfilled depending on the state the wish is being granted. It’s more than just a charity event; it’s an opportunity to see the direct impact of our work on a child’s life. This shared experience brings the team closer, reinforces our mission, and reminds us all of the bigger purpose behind what we do. It’s a constant source of inspiration that motivates people across the company to stay engaged, contribute meaningfully, and feel truly connected to our mission. Having many of our employees be able to share in these milestones for wish-kids brings colleagues together in a deeply emotional capacity.
Imagine we’re sitting down together two years from now, looking back at your company’s last 24 months. What specific accomplishments would have to happen for you to be happy with your progress?
As our company continues to grow, one of the biggest challenges we face, especially in a remote environment, is maintaining a sense of connection and motivation among team members. Without regular face-to-face interactions, it can be difficult to sustain that feeling of camaraderie and shared purpose. However, if, over the next two years, we’re able to maintain and improve this sense of connection — ensuring our team remains engaged, motivated, and aligned with our company culture — I would consider that a major success and a significant accomplishment.
You are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be?
If I could inspire a movement, it would be one where every business, regardless of size or industry, integrates social responsibility into its core operations. The idea is to create a world where employees not only feel proud of the work they do but also know that their contributions are making a positive impact on society. By fostering this sense of purpose, businesses can help spread wealth and opportunity, all while maintaining a healthy and sustainable bottom line. This movement would redefine success, showing that doing good for people and the planet can go hand-in-hand with business growth and profitability.
Additionally, it may seem simplistic, but fostering a movement centered around truly listening — where we actively reflect on what others are saying and hearing — could have a profound impact not only in a work atmosphere but in all other touch points of a person’s life. This approach would pave the way for more constructive conversations, leading to better actions, outcomes, and collaboration.
How can our readers further follow your work or your company online?
This was great. Thanks for taking time for us to learn more about you and your business. We wish you continued success!
About the Interviewer: Chad Silverstein is a seasoned entrepreneur with 25+ years of experience as a Founder and CEO. While attending Ohio State University, he launched his first company, Choice Recovery, Inc., a nationally recognized healthcare collection agency — twice ranked the #1 workplace in Ohio. In 2013, he founded [re]start, helping thousands of people find meaningful career opportunities. After selling both companies, Chad shifted his focus to his true passion — leadership. Today, he coaches founders and CEOs at Built to Lead, advises Authority Magazine’s Thought Leader Incubator, and launched and leads an online leadership development community which can be downloaded for free for iOS and Android.
Purpose Before Profit: Matthew Herfield Of BuzzRx On The Benefits Of Running A Purpose-Driven… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.