Innovative Pharmacy Solutions

What Innovative Pharmacy Solutions does

Innovative Pharmacy Solutions is an independently owned and operated long-term care (LTC) pharmacy headquartered in Indianapolis, Indiana, founded in 2009 and serving skilled nursing, assisted living, and independent living communities exclusively within Indiana. The company dispenses prescription medications (billed through Medicare/Medicaid and commercial insurance), over-the-counter products, custom-compounded medications, and a clinically complex IV/TPN/respiratory solutions line, layered with concierge services including 24/7 on-call pharmacist access, medication therapy management, third-party billing and prior-authorization support, medication cart audits, and facility in-service training. Distribution is direct-to-facility with same-day delivery, while residents access refills through a mobile app and a WebConnect web portal.

The underlying technology stack centers on integrated LTC workflow tools rather than proprietary IP: unit dose packaging systems, e-prescribing, e-MARS (electronic medication administration records), and facility-facing digital portals (mobile app + WebConnect). The company operates 7 days a week with extended hours (Mon-Fri 8am-8pm, Sat-Sun 8:30am-5pm) and maintains a 24/7 on-call pharmacist line. Headcount of 11-50 (approximately 12+ named clinical and operational staff) supports a relatively small but clinically deep team, including dedicated roles for controlled substances, IV compounding, and compliance that were formalized through 2023-2024 hires.

The business model is a B2B-led, B2B2C hybrid: account-managed relationships with LTC facility administrators drive contract volume, while residents and families are end beneficiaries. Revenue streams combine recurring prescription dispensing (the largest, billed against payors), transactional OTC/compounding/IV sales, professional services fees for consulting and MTM, and transaction-based vaccination revenue. Pricing is not publicly disclosed; most insurance plans are accepted. The company is privately held, family-owned, with no disclosed external funding, M&A activity, or institutional investors identified in the source data. A material data-security event — a breach affecting 133,862 patients in September 2025, with notifications commencing April 2026 — is an active risk and remediation overhang.

Name

Innovative Pharmacy Solutions

Legal name

Innovative Pharmacy Solutions

Website

https://innpharmacy.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Innovative Pharmacy Solutions is a family-owned long-term care pharmacy founded in 2009 that dispenses prescriptions, IV medications, and compounded drugs to skilled nursing, assisted living, and independent living communities across Indiana, supplemented by concierge pharmacist services and digital refill tools.

Ownership category

akta.pro rank

Product category

Long-Term Care Pharmacy Services

NAICS

Pharmacies and Drug Retailers (45611)

SIC

Services-Misc Health & Allied Services, Nec (8090)

akta.pro primary industry

Retail & Community Pharmacies (Chain/Independent) (HLAFALAA)

akta.pro secondary industries

Medication Reconciliation & Transitions-of-Care Pharmacy Services (HLAFALAK), Specialty Pharmacy & Complex Therapy Management Platforms (HLACAKAG), Injectables & Specialty Medication Support (e.g., insulin, biologics) (HSABALAG)

Keywords

• Long-term care pharmacy
• Pharmaceutical services
• Skilled nursing pharmacy
• Compounding medications
• Specialty IV pharmacy

Headquarters

HQ city

Greenfield

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Prescription Medications: Revenue from dispensing prescription medications to LTC facility residents including retail, Medicare/Medicaid billing
2. Over-the-Counter Pharmacy Products: OTC pharmacy needs and supplies for LTC facilities
3. Compounded Medications: Custom compounded medications tailored to individual patient needs
4. IV Medications and Supplies: IV medications, TPNs, nutrients, respiratory solutions, supplies and equipment
5. Consulting and Concierge Services: Pharmacist consulting, medication therapy management, third-party billing, prior authorization assistance, pharmacy in-service training
6. Vaccination Services: Flu and COVID-19 vaccinations for LTC residents

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Innovative Pharmacy Solutions is an independently owned and operated long-term care pharmacy that dispenses prescription medications, OTC products, compounded medications, IV medications and TPNs, and vaccinations to residents of skilled nursing, assisted living, and independent living communities throughout Indiana. The company combines medication dispensing with concierge clinical and operational services (pharmacist consulting, medication therapy management, third-party billing, prior authorization assistance, cart audits, and staff training), supported by unit dose packaging, e-prescribing, e-MARS, mobile app refills, WebConnect, and same-day delivery, with 24/7 on-call pharmacist access and extended 7-day operations.

Product overview

Innovative Pharmacy Solutions is an independently owned and operated long-term care pharmacy serving Indiana since 2009. The company offers a unified pharmacy service portfolio structured around skilled nursing and assisted/independent living communities. For skilled nursing, services are organized into three interconnected layers: Pharmacy Services (prescription medications, OTC needs, compounded medications, IV medications, IV supplies and equipment, TPNs, nutrients, respiratory solutions, vaccinations, and emergency drug kits), Concierge Services (pharmacist consulting, medication therapy management, customized medical records, third-party billing, prior authorization assistance, medication cart audits, in-service training, account management, 24/7 on-call pharmacist, and physician communication), and Resident/Facility Convenience Services (unit dose packaging, same day delivery, e-prescribing, e-MARS, mobile app refills, WebConnect, and home delivery). For assisted/independent living communities, services include compounding medications, smoking cessation products, private consultations, medication synchronization, multiple packaging options, and cost containment programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Skilled Nursing Pharmacy Services Comprehensive pharmacy services for skilled nursing communities, covering prescription and OTC dispensing, custom compounding, IV medications and supplies, TPNs, respiratory solutions, vaccinations, emergency drug kits, clinical consulting, medication therapy management, regulatory support, and digital workflow tools. Designed for skilled nursing facility operators and their residents.
• Assisted and Independent Living Pharmacy Services Pharmaceutical care and support services for assisted living and independent living residents, including custom compounding, smoking cessation products, private pharmacist consultations, multiple packaging options, medication synchronization, and cost containment programs. Designed for assisted and independent living operators and their residents and families.

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PharMerica: One of the largest US long-term care pharmacy operators, providing prescription dispensing, IV therapy, and clinical consulting to SNFs, ALFs, and other LTC settings — directly comparable in service mix and customer segments to Innovative Pharmacy Solutions, but at national scale.
• Guardian Pharmacy Services: Long-term care pharmacy company operating through regional partner-owned locations across multiple states, providing LTC dispensing, consulting, and medication management to SNFs and ALFs — a closely comparable LTC-only specialty model.
• PharmScript: Specialty LTC pharmacy focused exclusively on skilled nursing and assisted living facilities, offering dispensing, eMAR/technology integration, and clinical consulting — same customer base and service model as IPS.
• Polaris Pharmacy Services: Long-term and post-acute care pharmacy serving nursing homes and assisted living communities with dispensing, IV therapy, and consulting — directly comparable specialty LTC pharmacy positioning.
• Forum Extended Care Services: Independent LTC pharmacy serving skilled nursing, assisted living, and behavioral health facilities in the Midwest, providing dispensing, IV/specialty pharmacy, and consulting — comparable independent LTC pharmacy model to IPS.
• UnitedRx: Specialty LTC pharmacy serving long-term care facilities with prescription dispensing, medication packaging, and clinical services — overlaps directly with IPS across SNF/ALF dispensing and packaging.
• AlixaRx: LTC pharmacy and clinical services provider focused on skilled nursing and senior living, combining on-site dispensing technology with remote pharmacist consulting — closely comparable LTC specialty model.

Broad incumbents

• Omnicare (CVS Health): National LTC pharmacy owned by CVS Health, serving skilled nursing and assisted living facilities with dispensing, clinical consulting, and infusion services. Overlaps with IPS across the full LTC pharmacy stack but operates as part of a much broader healthcare portfolio.
• Pharmerica at CenterWell: Humana's senior-focused pharmacy and care services arm, addressing LTC and senior-living medication needs at scale — broader incumbent operating in adjacent senior-care pharmacy territory.

Emerging players

• Genoa Healthcare: Specialty pharmacy serving behavioral health, long-term care, and other complex populations through on-site pharmacy locations — partially overlapping with IPS's LTC and senior care focus but with a behavioral health specialty.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovative Pharmacy Solutions