Genoa, a QoL Healthcare Company Acquires 1DocWay

04 Nov, 2015, 09:00 ET from Genoa, a QoL Healthcare Company

TUKWILA, Wash., Nov. 4, 2015 /PRNewswire/ -- Genoa, a QoL Healthcare Company (Genoa) announced today the launch of Genoa Telepsychiatry with its acquisition of 1DocWay, the nation's largest outpatient telepsychiatry provider that offers a simple, easy-to-use platform to connect mental health providers and patients. 

Genoa is continually looking for ways to innovate and better serve the behavioral health community. Many of the Community Mental Health Centers that work with Genoa are facing increased demand for support as they strive to improve access to care for the communities they serve.  One significant barrier to fulfilling that mission is the nationwide psychiatry staffing shortage.  Genoa is committed to pioneering solutions that can add value to its relationships and improve patient care.  Telepsychiatry provides an innovative solution to the gaps in supply and demand for mental health services, including psychiatrist availability. Providing psychiatry services through telemedicine has been demonstrated to be well received by both consumers and providers, serving as a novel method to improve access to care.

"There are currently over 4,000 mental health professional shortage areas nationally and we will need to be creative to solve this problem. Genoa has worked with our partners for over 15 years to deliver innovative solutions for the unique needs of the behavioral health community.  When our partners suggested that we help them find novel remedies to their shortage of psychiatrists, we set out to find ways to assist. We believe telepsychiatry can be a key answer as its early adopters have touted its acceptance and efficacy in delivering accessible and quality mental health care," said Mark Peterson, Executive Vice President, Strategy and Corporate Development of Genoa. "The shortage of psychiatrists is a major issue in the behavioral health industry, and the addition of 1DocWay's team and tools will help us provide a solution to this challenge."

Genoa is the nation's leading behavioral health specialty pharmacy, integrating pharmacists into the care team to improve outcomes and reduce costs. Offering telepsychiatry as an extension of existing high-touch medication management services underscores their commitment to the behavioral health community. Through the acquisition of 1DocWay, Genoa is launching Genoa Telepsychiatry to provide yet another solution to the challenges faced by their center partners.

"We chose 1DocWay because they are experts in the field of telepsychiatry, having built the nation's largest outpatient telepsychiatry network, and they are innovators in technology. We are confident this integration will allow both us and our center partners to better serve the behavioral health community," said John Figueroa, CEO, Genoa, a QoL Healthcare Company.

According to Samir Malik, CEO, 1DocWay, "In our mission to expand access to psychiatry for the most in-need and underserved communities, 1DocWay is thrilled to be partnering with Genoa to build off of the tremendous footprint it has established in clinics delivering care to those most in need. We've doubled our footprint in the past 8 months and are excited to grow even more quickly with the support of Genoa. The biggest motivator for us to partner here, more than the opportunity to reach more patients, has been the quality of the team at Genoa. We are excited to be part of it. Their pharmacy model has proven to add significant clinical value around medication adherence, with rates unheard of in the industry; that commitment to quality and performance driven care aligns with our mission and values."

About Genoa, a QoL Healthcare Company

Genoa has been serving the behavioral health community for over 15 years.  The company provides specialty behavioral health and long-term care pharmacy services to more than 400,000 individuals annually, operating 280 pharmacies in 38 states and the District of Columbia and filling more than 9 million prescriptions per year.

About 1DocWay

1DocWay, Inc., is a NYC-based leading telepsychiatry network operator, whose psychiatry delivery network has treated over 25,000 patients in over 60 clinics across 11 states. Founded in 2011, 1DocWay has been building networks across the country to improve access to mental health treatment in settings where patients need it the most.  1DocWay has been financially supported by iSeed Ventures, Waterline Ventures, Rock Health, Asset Management Ventures, DreamIt Ventures and others in achieving its tremendous growth to date.

For more information, please visit www.genoa-qol.com or contact the Public Relations/Marketing Department at: (651) 583-7099 or marketing@genoa-qol.com.

SOURCE Genoa, a QoL Healthcare Company



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