The company said 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 medication adherence rates of more than 90%. This acquisition enables us to do that for more people.”
Currently, Medication Management Systems serves over 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 and Medicaid Services (CMS) contracts.
The company also participates in one of six CMS innovation 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. Many people with complex health conditions also have underlying mental health issues,” stated Genoa chief commercial officer Mark Peterson. “This [acquisition] enables us to serve a broader population.”