Grocery cooperative Topco Associates and pharmacy services administrator Arete Pharmacy are launching a joint venture that will enable Topco’s member pharmacies to pursue contractual relationships with payers as a unified entity.
Arete and Topco will collaborate to create a new grocery chain contracting option for payers, which will serve as a network of high-quality pharmacies with national coverage.
“Topco’s collaboration with Arete Pharmacy Network delivers the scale our members need to gain access to a broader network of patients,” said Randy Skoda, Topco’s president and CEO. “By partnering together to increase our network, Topco member pharmacies will be able to more effectively compete in their respective markets, and better serve their customers and communities.”
For Topco’s member-owners that operate pharmacies, the strategic relationship offers the benefit of aggregation, which delivers increased flexibility and a sustainable competitive advantage.
Topco’s member pharmacies will utilize Arete’s managed care contracting expertise to market a national network of pharmacies with high quality ratings and exceptional delivery of care to patients. Additionally, Topco’s member pharmacies will have access to Arete’s Quality Center, a web-based innovative performance toolkit of demonstrated value. The emphasis on quality improvement and outcomes is the driver behind the collaborative venture.
“The relationship with Topco is centered on the importance of building and maintaining a high-performing quality network of pharmacies,” said Rob McMahan, Arete’s CEO. “Topco and its member pharmacy organizations show a strong focus in this area, and the strategic alignment between our organizations became apparent very early in the conversations about a potential partnership. The entire team at Arete has embraced the opportunity to work with like-minded regional grocers.”
Elk Grove Village, Ill.-based Topco Associates provides aggregation, innovation and knowledge management solutions for its leading food industry member-owners and customers, including grocery retailers, wholesalers and foodservice companies.
Phoenix-based Arete Pharmacy Network serves independent community pharmacies and regional chains through a portfolio of expanded tools and services designed to help pharmacies deliver quality care to their communities.