Alchemy provides the physical, clinical, and digital infrastructure to establish and operate clinic-owned in-house pharmacies. This service allows healthcare providers to maintain full ownership while scaling patient reach through integrated clinical pharmacy programs. The platform includes white-labeled digital tools designed to enhance patient engagement, optimize revenue, and manage compliance for the pharmacy operation.
Funding
$31M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many 340B covered entities, such as STD clinics and FQHCs, struggle to provide comprehensive pharmaceutical services to their patients due to financial constraints, operational complexities, and regulatory burdens. This can limit patient access to medications, negatively impact health outcomes, and reduce the financial benefits of the 340B program for these healthcare providers.
Solution
Alchemy offers a comprehensive solution by providing the physical, clinical, and digital infrastructure necessary for safety-net clinics to operate their own in-house pharmacies. This vendor-operated model allows clinics to maintain ownership and control while leveraging Alchemy's expertise in pharmacy management, clinical program implementation, and digital tool deployment. By establishing in-house pharmacies, clinics can improve patient access to medications, enhance health outcomes through targeted clinical pharmacy programs (like mobile STD testing), and increase financial returns from their 340B participation. Alchemy handles all aspects of pharmacy setup and operation, including ROI analysis, staffing, contracts, compliance, and ongoing management.
Target Audience
Alchemy primarily serves 340B covered entities, including STD clinics, Ryan White clinics, and Federally Qualified Health Centers (FQHCs), seeking to establish and operate in-house pharmacies to improve patient care and maximize the benefits of the 340B program.
Features
- Physical infrastructure setup, including pharmacy design and buildout, ensuring compliance with state-specific requirements.
- Clinical pharmacy program implementation, such as mobile testing for HIV, HepC, and other STDs, to expand patient reach and improve care linkage.
- Digital platform for pharmacy management, offering white-labeled patient experiences, monitoring tools, and data-driven insights.
- Assistance with licensing, inspections, and ongoing compliance requirements related to pharmacy operations, Board of Pharmacy regulations, DEA guidelines, and PBM audits.
- Flexible financing options to cover upfront costs, including construction, staffing, and pharmacy inventory.
- Support for 340B audits, ensuring accurate record-keeping and compliance with program requirements.