The Alchemy Team
Alchemy is a managed pharmacy provider that enable safety net clinics to rapidly deploy best-in-class in-house pharmacies for their populations. the pharmacy on your behalf and in your best interest.
Alchemy was founded in June of 2023 by Sid, Peter, and Susie. Sid and Peter are both 3X founders. Sid previously founded Truepill, Peter built startups in Kenya focussed on advancing HIV care access and delivery and Susie has advanced health equity and access through community health programs in Indiana, Appalachia, and East Africa.
- Sid Viswanathan - Founder and Co-CEO
- Peter Park - Founder and Co-CEO
- Susie Crowe, PharmD, MPH - Founder, Head of Clinical Pharmacy and health equity public health specialist
What we do: Work with safety net providers to rapidly stand up their in-house pharmacy
Everything you need to seamlessly deploy your on-site pharmacy within the walls of your covered entity
First, we provide a return on investment (or ROI analysis) to determine the profitability and sustainability of your pharmacy based on your current patient population. We also perform a site evaluation to determine the ideal location for your pharmacy. Then Alchemy provides the subject matter and project management expertise to secure all of the licenses, permits, payor and vendor agreements to open your pharmacy. Alchemy recognizes that launching an on-site pharmacy can be expensive, requiring upfront capital and ongoing cash reserves, which makes it nearly impossible for some FQHCs, Ryan Whites, and STD clinics to build on on-site pharmacy. For this reason, Alchemy provides flexible financing options that will address cash needs for the pharmacy build-out and also manage pharmacy operations until the entity has enough cash reserves to become financially sustainable. Finally, Alchemy hires and trains all pharmacy staff to run and operate the pharmacy.
This is your pharmacy from day one
If you are a health center reading this, Alchemy wants you to know that it is fully your pharmacy from day one. All the licenses and permits are under your name. We act as agents with fiduciary responsibility to operate the pharmacy on your behalf and in your best interest. Your new on-site pharmacy will be an asset that allows your clinic to deliver care and serve patients in ways that are simply not possible with contract pharmacies.
Lasting clinical and public health impact
We start our work by building your in-house pharmacy, but that is just the foundation. The lasting impacts for patient care comes from the clinical pharmacy and public health interventions that use your on-site pharmacy as a lever to go beyond the four walls of the health center and maximize your reach and impact in the communities you serve. Clinical & pharmacy product innovation is at the heart of what we provide as your partner. We recognize that our covered entities care for patients that are often hard to reach due to social determinants of health (or SDOH) challenges, leading to difficulties with providing ongoing treatment. Therefore, we believe that working with our sites to develop clinical programs that thoughtfully respond to SDOH needs is absolutely essential for addressing health care needs and improving the overall health of your patients. We have extensive experience with the Find-Link-Treat-Retain population health model of care from working in Kenya with the AMPATH program, and this model is applicable for health care clinics in the US as well. This is especially beneficial for finding HIV and Hepatitis C patients who are unaware of their diagnosis, extending your reach in the community. Once diagnosed, we also recognize patients face a myriad of challenges, including but not limited to health care system mistrust, poverty, lack of insurance, undocumented immigrant status, and stigma. Alchemy desires to partner with you to help you overcome these challenges, ultimately leading to patients who continue ongoing care within your clinic.
Alchemy believes that populations served by safety net providers are actually the most discerning, and have the most to gain, from thoughtful, patient-centric technology. Our team has deep experience building consumer-oriented healthcare products and services, and partner with you to bring this to your patients.
Why Choose Alchemy
While Alchemy helps you rapidly build your in-house pharmacy, we go so much deeper than that. We enable safety net clinics to rapidly deploy and manage a best-in-class pharmacy and extended impact beyond the four walls of the health center through patient-centered technology and clinical pharmacy interventions. We are thought leaders in this space. We know how to maximize this program to be much more than a “on-site pharmacy”, and truly engage patients and drive patient outcomes.
The most aligned partner to the intent of the 340B program. As many are aware, while the purpose of the 340B program is to maximize funding available for safety net providers, the 340B industry is simply not structured that way. Our true north will always be driven by how to best deliver on the intent of the 340B program, which is to expand patient access and improve health outcomes for the millions of Americans who rely on 340B covered entities for their healthcare. We have demonstrated this with our partners already to date, and would love to share more with you directly on how we can support your patients’ needs.
If you’re interested in building a long-lasting foundation to stabilize your health center’s funding today, and launch a pharmacy experience that meets the ever-evolving consumer expectations of your patients, ready not just to meet your patients where they are, but where they are going, reach out to us on LinkedIn. We’d love to partner with you.