In a landmark move that promises to reshape the landscape of value-based care within pharmacy settings, Innovaccer, a San Francisco-based healthcare titan, has announced its acquisition of Pharmacy Quality Solutions (PQS), a pioneering force in pharmacy-payer performance technology located in Research Triangle Park, N.C. This acquisition marks a significant step towards creating a more interconnected and efficient healthcare ecosystem, combining the strengths of providers, payers, and pharmacies under one umbrella.

Innovaccer stands at the forefront of healthcare innovation, utilizing artificial intelligence (AI) to unify patient data across various systems and care settings. Their commitment to enhancing clinical, financial, operational, and experiential outcomes through scalable, modern applications has set a new benchmark in care delivery transformation. With deployments across more than 1,600 hospitals and clinics in the US, Innovaccer has been instrumental in unifying health records for over 54 million people and generating substantial cost savings in the process.

The acquisition of PQS represents Innovaccer’s continued push into the domain of pharmacy and highlights its ambition to be at the vanguard of integrating value-based care across all facets of healthcare. PQS, renowned for its EQUIPP® platform, connects healthcare payers and providers to standardize measurement and reporting on key medication use quality measures. Covering 95% of all community pharmacies and partnering with the top 10 pharmacy chains by store count, PQS boasts a vast network that impacts up to 60 million lives. This extensive reach, particularly within Medicare, where it covers nine out of every ten lives, and its collaboration with five of the top six Medicare Advantage health plans, positions PQS as a central player in medication management optimization.

This strategic acquisition heralds a new era of pharmacy involvement in value-based care, where the flow of data and insights between payers, providers, and pharmacies is seamless and synergized. As Abhinav Shashank, cofounder and CEO of Innovaccer, pointed out, the merging of Innovaccer’s and PQS’s resources and expertise promises to create a connected ecosystem that prioritizes patient outcomes and establishes a clinical data exchange that encompasses payers and, now, pharmacies.

PQS will retain its organizational structure to ensure business continuity, minimizing disruptions for its customers and supporting a smooth transition. Todd Sega, PharmD, CEO of PQS, expressed enthusiasm about joining forces with Innovaccer, emphasizing the potential for growth and improved patient outcomes through enhanced payer, provider, and pharmacy collaboration.

This acquisition is not just about expanding Innovaccer’s capabilities but also about reinforcing its position in the market. It underscores the importance of community pharmacies as crucial points of care and leverages PQS’s expertise in quality improvement and performance technology. By creating the industry’s most extensive clinical connectivity between prescribers and community pharmacies, Innovaccer is poised to drive significant improvements in healthcare quality and efficiency.

In effect, Innovaccer’s acquisition of PQS is more than a merger of two companies; it is a landmark event in the ongoing transformation of the healthcare sector. It represents a significant step towards a future where value-based care is a reality across all healthcare settings, including pharmacies, thereby ensuring better patient outcomes and a more sustainable healthcare system.