TRxADE Group, QualityCare Pharmacies ink group purchasing agreement
TRxADE Group, a health services IT company focused on digitalizing the retail pharmacy industry experience by optimizing drug procurement, the prescription journey and patient engagement announced the signing of QualityCare Pharmacies, a New York-based independent pharmacy prescription drug buying group, as the newest member to join TRxADE's fast-growing group purchasing organization to drive increased purchase volumes on the TRxADE platform.
Active QualityCare pharmacy members will now qualify to receive highly competitive prescription drug pricing and first-of-kind GPO+ rebates, which TRxADE said would drive increased savings for members using the TRxADE platform for drug purchases.
"Many of our members that use TRxADE already accumulate notable cost-savings when purchasing single and bulk prescription drugs from their proprietary prescription drug acquisition platform," said Lanny Doud, executive director of QualityCare. "This new rebate structure offers members additional impressive add-on incentives that, to be honest, is hard to overlook in today's climate this day-and-age. This solidifies TRxADE's commitment and proven track-record to help independent pharmacies compete and survive."
"TRxADE's core mission is to help independent pharmacies reduce the cost of drug acquisition, and through our new GPO+ program, we hope to continue to attract qualified buying groups to provide their pharmacy members with a customized rebate program to drive volumes on the TRxADE platform," said Suren Ajjarapu, CEO of TRxADE Group. "This innovative offering drives significant value for our independent pharmacy partners nationwide, and we look forward to working closely with QualityCare Pharmacies to transact an increasing volume of their total drug purchases.
"Looking ahead, we believe that our GPO+ launch, when paired with our addition of patient-centric services such as Bonum Health, makes TRxADE an increasingly indispensable tool to our independent pharmacy operator customers. I look forward to driving forward our core platform alongside the launch of our complimentary businesses, helping to drive sustainable value creation for our shareholders over the long-term," Ajjarapu said.