What You Should Know:
– Innovaccer, a healthcare IT company, announced today the acquisition of Pharmacy Quality Solutions (PQS), a leader in Pharmacy-Payer performance technology.
– By leveraging PQS’s strengths, Innovaccer is poised to play a leading role in shaping the future of value-based care and medication management within the healthcare landscape.
Enhancing Value-Based Care
The acquisition positions Innovaccer to play a more significant role in the transformation of healthcare towards value-based care models. Value-based care focuses on rewarding quality outcomes over treatment volume, aiming to improve patient care and reduce costs.
PQS: A Leader in Pharmacy Quality Improvement
PQS plays a vital role in connecting healthcare payers and providers. Their platform facilitates:
- Standardized measurement and reporting on key medication use quality measures
- Value-based reimbursement programs focused on medication adherence, treatment outcomes, and patient safety
- Delivery of quality insights to optimize medication management for various patient populations
Solidifying Market Position and Future Opportunities:
This acquisition solidifies Innovaccer’s leadership in the healthcare IT space. The combined network creates:
- Opportunities for cross-selling into new pharmacy and payer markets
- The industry’s largest clinical connectivity between prescribers and community pharmacies
Innovaccer prioritizes a smooth transition for PQS employees and customers. PQS will maintain its existing structure to ensure business continuity and minimize disruption for its partners.
Expanding Pharmacy Network and Market Reach
PQS boasts an impressive network reach, covering:
- 95% of all community pharmacies
- 10 of the Top 10 Pharmacy chains (including national chains and independents)
- Up to 60 million lives (representing 9 out of 10 Medicare lives)
- Partnerships with 5 of the Top 6 Medicare Advantage health plans
This acquisition broadens Innovaccer’s reach within the pharmacy sector and strengthens its market position.
“We are excited to work with the PQS team to create an ecosystem approach of accelerating Value-Based Care, with data and AI” said Abhinav Shashank, cofounder and CEO, Innovaccer. “The possibilities that this acquisition brings to Innovaccer and our valued stakeholders pave a new area of growth. The acquisition not only expands our capabilities and expertise in improving patient outcomes, establishing clinical data exchange in payers and now by adding the PQS pharmacy solutions, we have created a connected ecosystem of payer, provider and pharmacy.”