RENTON, Wash. — Behavioral health pharmacy operator Genoa Healthcare has opened its 400th location, in its home state.
Last month, Tukwila, Wash.-based Genoa held the grand opening of its newest pharmacy at Comprehensive Life Resources, a nonprofit behavioral health center in Renton. About 175 people attended the ribbon-cutting event, including John Figueroa, Genoa’s chief executive officer, and other company executives; Comprehensive Life CEO Kim Zacher and other staff from the agency; Washington state legislators; and consumers.
In the past year, Genoa’s revenue jumped 30%, its patient population spiked by 26%, and it increased its prescription volume by 24%.
The new location gives Genoa a total of 17 pharmacies in Washington. Its 400 pharmacies overall serve more than 650,000 patients across 45 states and the District of Columbia.
The company also operates the Genoa Telepyschiatry service, which reaches more than 2,500 patients weekly and serves 35 states. Its telepsychiatry platform is administered in a variety of settings across the United States, including community mental health and primary care clinics, inpatient units, and emergency departments.
“Make no mistake, we are a Washington company. In March of 2002, our first prescription was filled in the back room of a little independent pharmacy in Renton,” said Figueroa. “We are proud that we will fill 16 million prescriptions this year in our integrated pharmacies, like the one we are opening today with Comprehensive Life Resources.”
Situated inside community mental health centers, Genoa pharmacies provide care to patients with serious and persistent mental illness and addiction issues. Being located within the behavioral health facility and having the pharmacist on site brings a number of benefits to patients, the company noted.
For example, Genoa pharmacies are able to achieve a 90% medication adherence rate, compared with 50% in traditional retail pharmacies. The company’s care model also has been found to reduce hospital visits by 40% and emergency room visits by 18%, yielding significant cost savings from avoided care.
“As the home to our company headquarters as well as our first pharmacy location, Genoa owes its proud and humble beginnings to Washington,” Figueroa added. “We deeply appreciate the many community leaders and state legislators that joined us today.”