Genoa said Thursday that the new offering stems from its acquisition of Medication Management Systems Inc., a Minneapolis-based provider of medication therapy management (MTM) services and technology for complex, high-risk patients.
Medication Management Systems helps improve treatment plans by making recommendations related to pharmaceutical care for patients with multiple health conditions. Genoa, which helps patients with behavioral health issues follow their treatment plans, sees the service as a good fit.
“The combination of our capabilities provides an end-to-end solution that strengthens and expands our comprehensive pharmacy offerings,” Genoa chief executive officer John Figueroa said in a statement. “As a company, we are focused on providing interventions that continue to achieve more than 90% medication adherence rates. This acquisition enables us to do that for more people.”
Currently, Medication Management Systems provides serves more than 30,000 patients under benefit plans administered by health plans and self-insured employers. Its platforms are licensed by Medicare and Medicaid managed care organizations, with more than 4 million members and 300 Centers for Medicare & Medicaid Services (CMS) contracts. The company also participates in one of six CMS innovations programs to provide enhanced MTM services to Medicare beneficiaries.
“We already do a great job of improving the lives of those living with a mental illness,” stated Mark Peterson, chief commercial officer for Genoa. “Many people with complex health conditions also have underlying mental health issues. This [acquisition] enables us to serve a broader population.”
Overall, Genoa operates nearly 370 pharmacies at community mental health centers in 48 states and the District of Columbia. The company provides pharmacy and telepsychiatry services to more than 550,000 people annually and fills over 12 million prescriptions a year.
“We are very excited to become part of Genoa,” commented David McLean, chairman and CEO of Medication Management Systems. “Genoa’s national footprint, deep industry relationships and expertise providing comprehensive pharmacy solutions to high-risk populations, combined with our patient-centered comprehensive medication management service and technology platform, position us for success far into the future.”