MOORESTOWN, N.J., April 7, 2020 — Tabula Rasa HealthCare®, Inc. (“TRHC”) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced today its PrescribeWellness™ technology solutions (“PW”) will continue its partnership with EPIC Pharmacy Network® (EPN), renewing their agreement for an additional three years. EPN is one of the largest, independently owned pharmacy services administration organizations and managed care networks for independent pharmacies in the nation.
As part of this contract extension, EPN pharmacies now will have the opportunity to conduct in-person Comprehensive Medication Reviews (CMRs) through collaboration with TRHC’s SinfoniaRx® medication therapy management services, enabling them to enhance care for their patients while benefitting from a new revenue stream. This is part of TRHC’s overall strategy to support improved patient outcomes through the addition of face-to-face encounters with patients through their local community pharmacists.
“As the healthcare landscape continues to transition to valued-based care, the next three years will be pivotal for community pharmacy,” said EPN President Jay Romero. “I am proud to have PrescribeWellness as a technology partner in supporting our hardworking independent pharmacies. PrescribeWellness’ innovative solutions provide the support our pharmacies need to stay competitive in today’s market and be complete healthcare destinations.”
Since 2015, PrescribeWellness has provided a full suite of solutions to EPN member pharmacies across the country, helping them improve care, overall adherence and Star Ratings as well as strengthen patient loyalty. EPN will continue to participate in other PrescribeWellness programs that bring new clinical services and revenue opportunities for the pharmacies, including the option for community pharmacies to access MedWise™ through the PrescribeWellness suite of offerings.
“TRHC is committed to supporting community pharmacists to expand their clinical services and grow their practices,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “Through the contract with EPN, thousands of pharmacies across the country will be able to deliver improved outcomes for their patients.”
“We appreciate our ongoing partnership with EPIC Pharmacy Network,” said TRHC Executive Vice President for PrescribeWellness Farah Madhat, PharmD, MA. “We look forward to continuing to execute on initiatives that improve patient health while helping to streamline operations for pharmacies. I am confident that, together, we will continue to help them go ‘beyond the fill’ with solutions that address the total needs of the patient, including medication safety reviews, adherence, and providing other preventative healthcare services.”
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (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 TRHC.com.
TRHC’s PrescribeWellness solution is a leading cloud-based patient relationship management technology that facilitates collaboration between more than 10,000 pharmacies, payers, providers, pharmaceutical companies and their patients for better health. Visit prescribewellness.com/ or tabularasahealthcare.com/our-solutions/technology-products/.
About EPIC Pharmacy Network
A wholly-owned subsidiary of EPIC Pharmacies, Inc. formed in 1992, EPIC Pharmacy Network, Inc. (EPN) represents independent pharmacies in providing centralized contracting and administrative services to pharmacy benefits managers (PBMs), HMOs, and other third-party payers. With access to Star measure resources, enhanced third-party support, simplified compliance requirements, and easy-to-use reconciliation system, EPN members are provided the tools for success in today’s competitive market. For more information, visit epicrx.com.
This press release includes forward-looking statements that we believe to be reasonable as of today’s date. 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. These forward-looking statements include, among other things, our goals and expectations regarding the combined company and the integration of PW into TRHC, the expected synergies from the combined company and the expected financial and operating performance of TRHC following the completion of the acquisition. 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 risk that we may not be able to achieve our expectations for the combined companies due to challenges in integration and inability to retain key employees; fluctuations in our financial results; the acceptance and use of our products and services by PACE organizations and pharmacies; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; our ability to maintain relationships with a specified drug wholesaler; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; the requirements of being a public company; our ability to recognize the expected benefits from acquisitions on a timely basis or at all; and the other risk factors set forth from time to time in our filings with the Securities and Exchange Commission (“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 ir.trhc.com or upon request from our Investor Relations Department. 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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