GeriMed
GeriMed is a privately held, family-run Group Service Organization founded in 1983 that provides group purchasing, Medicare Part D and commercial network contracting, and proprietary pharmacy software to hundreds of independent long-term care and combo pharmacies across the United States.
- Company typePrivate
- Founded1983
- HeadquartersLouisville, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What GeriMed does
GeriMed, Inc. is a privately held, family-run Group Service Organization (GSO) headquartered in Louisville, Kentucky, founded in 1983 to support independent pharmacies serving long-term care (LTC) and home care patients. The company serves hundreds of member pharmacies across the United States that together service millions of LTC beds, and operates two wholly-owned subsidiaries — RxMed and IVMed — that extend its GPO contracting model into adjacent independent pharmacy channels. GeriMed operates as a sales-led organization with dedicated account management, a high-touch conference presence, and partnerships with NCPA and ASCP, supported by an annual member conference and recurring Weekly Dose newsletter.
The company's core offering combines group purchasing organization (GPO) services with proprietary software and network contracting. Through a 2017 strategic partnership with Provista, GeriMed channels Vizient's $100 billion in purchasing volume to members for brand, generic, specialty, injectable, OTC, and nutritional supplements. Its GeriMed LTC Network provides contracted Medicare Part D, commercial, managed care Medicaid, and hospice reimbursement access with major PBMs. The proprietary technology stack includes Profiles360 (consultant pharmacist software for medication regimen reviews), FormularyPro (Medicare Part D formulary navigation), Contract Pricing Portfolio, GeriTrac (invoice discrepancy analysis), GeriMed Claim Audit, Best Buy Reporting, and 835 Aggregate remittance management — all delivered through a Members Only portal with annual subscription access.
GeriMed's revenue model is predominantly membership-fee based, with flat-fee subscription tiers (including the ComboMed program for retail/LTC combo pharmacies with no growth penalty), GPO access fees, and managed network contracting services. The company maintains direct advocacy representation at NCPDP, CMS, and Congress, and integrates with third-party technology partners (Veridikal for pre/post editing, FDS for claims reconciliation) to extend its service surface. All members share access to the same network and software suite, creating an aggregated purchasing and reimbursement platform that independent LTC pharmacies cannot easily replicate on a standalone basis.
GeriMed firmographics
Firmographics- Name
- GeriMed
- Legal name
- GeriMed, Inc.
- Website
- https://gerimedgso.com
- Company type
- Private
- Founded year
- 1983
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- GeriMed is a privately held, family-run Group Service Organization founded in 1983 that provides group purchasing, Medicare Part D and commercial network contracting, and proprietary pharmacy software to hundreds of independent long-term care and combo pharmacies across the United States.
- Ownership category
- akta.pro rank
GeriMed industry classification
Industry- Product category
- Long-Term Care Pharmacy Services
- SIC
- Services-Management Services (8741), Services-Management Consulting Services (8742)
- akta.pro primary industry
- Pharmacy Benefit/Channel Services (PSAO, 340B Admin, Chargebacks/Rebates Ops) (CRAOAHAK)
- akta.pro secondary industry
- Insurance Program Administration & MGA/MGU Services (FSAEADAK)
Keywords
Where GeriMed is headquartered
LocationHeadquarters
- HQ city
- Louisville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
GeriMed business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Membership Fees - ComboMed Program: Low cost, flat membership fee for ComboMed program with no growth penalty. Provides access to LTC network, purchasing contracts, and GPO services.
- Group Purchasing Organization (GPO) Services: Access fees and potentially transaction-based fees from pharmaceutical and non-pharmaceutical contracting services for member pharmacies including brand, generic, specialty, injectable, OTC medications, and nutritional supplement contracts.
- Network Contracting Services: Medicare Part D, Commercial, Managed Care Medicaid, and Hospice network contracting services providing reimbursement network access for LTC pharmacies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | ComboMed Program - Flat membership fee structure |
| Freemium | Annual | Annual Conference - Free for members |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
GeriMed product offering
Product offeringCore offering
GeriMed is a Group Service Organization (GSO) for independent long-term care (LTC) pharmacies, founded in 1983 in Louisville, Kentucky. It negotiates group purchasing contracts, provides Medicare Part D and commercial network contracting, delivers audit compliance and resolution services, and offers proprietary pharmacy management software (Profiles360, FormularyPro, Contract Pricing Portfolio, GeriTrac) to help member pharmacies maximize reimbursement and reduce operating costs.
Product overview
GeriMed is a Group Service Organization (GSO) for Long Term Care pharmacies, offering a comprehensive suite of products and services centered around group purchasing, network contracting, and pharmacy management tools. The core offerings include the GeriMed LTC Network for Medicare Part D and commercial reimbursement, supported by pharmacy tools including GeriMed Profiles 360 (consulting software), FormularyPro, Contract Pricing Portfolio, GeriTrac Invoice Analysis, and GeriMed Claim Audit. Complementary services encompass Audit Compliance & Resolution Services (ACRS), Pre and Post Editing & Reconciliation Services (via Veridikal), 835/EOB Remittance Management, Third Party Services, MAC Resolution, and the Weekly Dose publication. The ComboMed program serves pharmacies with both retail and LTC operations. All offerings are delivered through a membership model with access to a Members Only portal.
Differentiator
Problem solved
Functional benefit
Brands
- ComboMed: A program tailored for combo pharmacies that operate both retail and long-term care services, providing enhanced reimbursement rates and purchasing discounts.
Products and services
- GeriMed LTC Network Network contracting service that gives member pharmacies access to Medicare Part D and commercial pharmacy benefit manager (PBM) networks, enabling LTC pharmacies to bill and dispense covered medications.
- Profiles 360 Proprietary pharmacy consulting and operations software that helps LTC pharmacies manage workflow, dispensing, and operational data.
- ComboMed Membership program tailored for combo pharmacies that operate both retail and long-term care dispensing, providing network access and purchasing benefits for the LTC portion of their business.
- Audit Compliance & Resolution Services (ACRS) Service that helps member pharmacies prepare for, respond to, and resolve PBM and CMS audits, reducing financial exposure and compliance risk.
- Pre and Post Editing & Reconciliation Services Service that edits pharmacy claims before submission and reconciles adjudicated claims afterward to maximize reimbursement accuracy and reduce underpayments.
- 835/EOB Remittance Management Service that processes and reconciles 835 electronic remittance advice and EOB documents, enabling pharmacies to manage payments and reconciliation efficiently.
- Hospice Network Services Network and contracting services tailored for LTC pharmacies that dispense medications to hospice patients, addressing hospice-specific reimbursement and compliance needs.
- FormularyPro Software tool for managing drug formularies, supporting LTC pharmacies in formulary compliance and optimal product selection.
- Contract Pricing Portfolio Software that provides member pharmacies with access to GeriMed-negotiated pharmaceutical contract pricing, enabling accurate purchasing decisions.
- GeriTrac Invoice Analysis Service and tool that analyzes wholesaler invoices against negotiated contract pricing to identify discrepancies and recover overpayments.
- GeriMed Claim Audit Service that audits historical pharmacy claims to identify underpayments, missed reimbursements, and recovery opportunities from PBMs and payers.
- FDS eConcile Complete Reconciliation service that integrates with a partner platform (FDS) to provide end-to-end pharmacy account reconciliation.
- Third Party Services Suite of additional third-party services offered to member LTC pharmacies to support operations, billing, and compliance needs.
Quantifiable outcome
- No DIR fees on Medicare Part D LTC claims for ComboMed members
- +2 more outcomes
Companies that use GeriMed
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
GeriMed technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
GeriMed partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core.
- PharmaComplete Consulting ServicescoreStrategic partnership in the Long-Term Care (LTC) and Combination Shop Independent Community Pharmacy markets. This collaboration enhances efficiency and better patient outcomes for pharmacies in these sectors.
- ProvistacoreStrategic partnership created to enhance purchasing power for LTC pharmacies. The Provista-GeriMed partnership enables GeriMed to leverage $100 billion in purchasing volume from Vizient (nation's largest health care performance improvement company) for the savings benefit of all GeriMed members.
- VeridikalcoreCorporate partnership providing Pre and Post editing services offering real-time guidance at point-of-sale that drives compliance, reimbursement, and performance. Includes detailed analytic reporting and audit protection programs.
- National Community Pharmacists Association (NCPA)coreCorporate partnership with NCPA for industry affiliations and member referral. GeriMed management participates in meetings to ensure interests of LTC pharmacies are fairly represented.
- American Society of Consultant Pharmacists (ASCP)coreCorporate partnership with ASCP for industry affiliations and member referral.
- VizientcoreNation's largest health care performance improvement company. Through Provista partnership, GeriMed leverages $100 billion in purchasing volume from Vizient for member savings benefit.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
GeriMed competitors and assessment
Company assessmentDirect peers
- Arete Pharmacy Network: Arete is a PSAO providing third-party network contracting and pharmacy services to independent pharmacies. It overlaps directly with GeriMed's LTC Network and ComboMed offerings in independent pharmacy network access and contracting.
- PBA Health: PBA Health is a pharmacy-owned GPO offering group purchasing, third-party contracting, and tools to independent community pharmacies. It competes with GeriMed for independent pharmacy membership and in GPO/PSAO services.
- Managed Health Care Associates (MHA): MHA is a leading PSAO and GPO serving independent long-term care, infusion, specialty, and retail pharmacies with contracting, purchasing, and clinical services. It competes head-to-head with GeriMed in LTC network contracting, GPO services, and pharmacy management tools.
- American Pharmacy Cooperative, Inc. (APCI): APCI is a member-owned pharmacy cooperative providing GPO contracting and services to independent pharmacies. It competes with GeriMed in independent pharmacy group purchasing and reimbursement services.
- PCRx Network: PCRx is a national pharmacy GPO/PSAO offering contract pricing, third-party network access, and consulting to independent pharmacies. It targets a similar independent LTC and combo pharmacy customer base as GeriMed and competes on GPO contracts and reimbursement networks.
- Net-Rx: Net-Rx is a PSAO and pharmacy services organization that negotiates third-party contracts and provides tools for independent pharmacies. Its independent pharmacy focus and PSAO model directly mirror GeriMed's core offering.
Broad incumbents
- Innovatix: Innovatix is a GPO serving non-acute healthcare providers including LTC pharmacies, with group purchasing and contracting services. It overlaps with GeriMed's GPO model across LTC and post-acute pharmacy customers as a broader incumbent.
- McKesson: McKesson is a major pharmaceutical wholesaler with broad GPO and PSAO capabilities through McKesson RxO and CoverMyMeds. It competes with GeriMed in wholesale purchasing leverage and pharmacy services, though at vastly larger scale and broader scope.
Emerging players
- Clarest Health: Clarest Health (formerly PharmScript) is a national LTC pharmacy operator serving skilled nursing and assisted-living facilities. It represents both a customer-adjacent peer and an emerging competitor with pharmacy operations in GeriMed's core LTC bed segment.
- PharmaComplete Consulting Services: PharmaComplete is a consulting partner announced by GeriMed in June 2023 to enhance efficiency for LTC and combination shop independent community pharmacies. It is a partner/adjacent peer in the LTC consulting and operations support space GeriMed operates in.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
GeriMed social profiles
Digital presenceGeriMed financial estimates
Financial estimateRevenue estimate
Valuation estimate
GeriMed leadership team
Management profileNumber of profiles
Profiles1 record
GeriMed subsidiaries and ownership
Company hierarchySubsidiaries2 records
GeriMed funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GeriMed M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GeriMed
What does GeriMed do?
GeriMed is a Group Service Organization (GSO) for independent long-term care (LTC) pharmacies, founded in 1983 in Louisville, Kentucky. It negotiates group purchasing contracts, provides Medicare Part D and commercial network contracting, delivers audit compliance and resolution services, and offers proprietary pharmacy management software (Profiles360, FormularyPro, Contract Pricing Portfolio, GeriTrac) to help member pharmacies maximize reimbursement and reduce operating costs.
Is GeriMed a public or private company?
GeriMed is a private company. It is classified as family owned and is currently operating.
When was GeriMed founded?
GeriMed was founded in 1983. It employs 11 to 50 people.
Where is GeriMed based?
GeriMed is headquartered in Louisville, United States, in the North America region.
How does GeriMed make money?
Three revenue lines are on record. Membership Fees - ComboMed Program is the primary driver. The others are group Purchasing Organization (GPO) Services and network Contracting Services.
Who are GeriMed's main competitors?
Direct peers on record are Arete Pharmacy Network, PBA Health, Managed Health Care Associates (MHA), American Pharmacy Cooperative, Inc. (APCI), PCRx Network and Net-Rx. Broad incumbents are Innovatix and McKesson. Emerging players are Clarest Health and PharmaComplete Consulting Services.
Does GeriMed have an API?
No public API is recorded for GeriMed.
What industry is GeriMed in?
GeriMed's product category is Long-Term Care Pharmacy Services. Its primary akta.pro industry code is CRAOAHAK, Pharmacy Benefit/Channel Services (PSAO, 340B Admin, Chargebacks/Rebates Ops), with a secondary code of FSAEADAK, Insurance Program Administration & MGA/MGU Services. Its SIC code is 8741.