MOORESTOWN, N.J., (August 22, 2019) – Tabula Rasa HealthCare, Inc (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, today announced a partnership between its precision dosing software subsidiary DoseMe and Bainbridge Health, a Children’s Hospital of Philadelphia (CHOP) spin-off.
“Managing medications to prevent patient harm and to reduce waste is an incredibly complex and challenging process for hospital clinicians,” said Joseph Kaupp, Co-founder and CEO of Bainbridge Health. “In pursuit of our mission to distill that complexity in order to improve safety and eliminate avoidable cost, it is crucial to partner with mission-aligned industry leaders to continually innovate and drive value. We are privileged to have such a partner in DoseMe and look forward to working together to reduce cost and – most importantly – improve the safety and quality of patient care.”
Bainbridge Health provides clinical solutions based on more than a decade of research and development, including the Med O.S® medication safety and stewardship platform that reduces the risk of medication errors and waste. The partnership will leverage Bainbridge Health’s Med O.S® platform to further enhance medication safety and reduce costs across DoseMe’s partner hospitals.
DoseMeRx is a precision dosing software that was developed specifically for clinical practice. It is a simple, yet powerful tool helping healthcare providers calculate the optimal dose of drugs monitored by therapeutic drug monitoring to streamline operations, reduce adverse drug events, decrease costs, and improve patient outcomes.
“The precision dosing capabilities of DoseMeRx, combined with Bainbridge’s platform, will provide new insights into optimizing intravenous medications in the acute care setting,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “By bringing together our technologies, we increase the potential to support healthcare organizations to ensure medications are being appropriately prescribed and delivered to patients in the safest possible manner to improve medication stewardship, reduce adverse drug events and decrease the workload for pharmacy and nursing.”
“We are excited to partner with Bainbridge Health which has a long history and expertise in collaborating with adult and pediatric health systems to enhance medication safety and stewardship,” added Charles Cornish, CEO, DoseMe. “For those hospitals and infusion centers that choose our combined offering, we expect they will see a further enhancement in dosing performance while freeing up nurses and pharmacists to practice at the top of their licenses.”
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (NASDAQ:TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize performance to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. Medication risk management is TRHC’s lead offering, and its cloud-based software applications, including EireneRx® and MedWise®, provide solutions for a range of payers, providers and other healthcare organizations. For more information visit: tabularasahealthcare.com.
DoseMe is a Tabula Rasa HealthCare Company (NASDAQ: TRHC) and the first company in the world to develop precision dosing software – DoseMeRx – developed specifically for clinical practice. DoseMe’s clinical decision support solutions focus on empowering healthcare providers to optimize dosing of high-risk parenteral medications to streamline operations, reduce adverse drugs events, decrease costs and improve patient outcomes. For more information, visit doseme-rx.com.
About Bainbridge Health
Bainbridge Health was developed in the Children’s Hospital of Philadelphia and in collaboration with leading adult and pediatric hospitals. Bainbridge helps healthcare organizations unlock the value of their medication data to prevent errors, reduce costs and maintain compliance. The goal is to empower clinical partners to put an end to pivot tables, ad-hoc dashboard requests and manually intensive data-clerking. To learn more about Bainbridge, please visit bainbridgehealth.com.
This press release includes forward-looking statements that we believe to be reasonable as of today’s date, including statements regarding Medication Risk Mitigation technology. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; and the other risk factors set forth from time to time in our filings with the SEC, including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on March 1, 2019, and in subsequent reports filed with or furnished to the SEC, copies of which are available free of charge within the Investor Relations section of the TRHC website http://ir.trhc.com or upon request from our Investor Relations Department. Any forward-looking statement speaks only as of the date on which it was made. TRHC assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.
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Bob East or Asher Dewhurst
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