MOORESTOWN, NJ, (November 19, 2020) – Tabula Rasa HealthCare, Inc® (TRHC) (NASDAQ:TRHC), a healthcare technology company advancing the field of medication safety, today announced it is partnering with Heritage Health Solutions, Inc. (Heritage) to improve patient care and reduce costs for self-insured employers.
Through TRHC’s clinical call centers and community pharmacy network, Heritage will offer TRHC’s Comprehensive Medication Safety Services with MedWise™ to their healthcare clients.
“Partnering with Heritage Health Solutions, TRHC continues expansion of our services to self-insured employer groups,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “As self-funded plans currently cover more than half of the nation’s workforce, we see this as a significant opportunity to positively impact patient health. According to Health Finance News, self-insured, or self-funded plans, currently cover an estimated 94 million of the nation’s 156 million employees. Nearly 60% of all employees are covered in a plan that is fully or partially self-funded.”
Heritage is an integrated health care manager that provides comprehensive solutions for both pharmacy benefits (PBM) and third-party administration (TPA) services.
“We aren’t just a PBM or a TPA,” said Heritage CEO, Tonya Clark. “Our focus is on comprehensive solutions for both. Now, through our partnership with TRHC, which will provide Medication Safety Reviews, our self-insured clients will save costs on their employee medical spend and improve overall health and well-being through mitigating adverse drug events.”
TRHC’s medication safety solutions will complement Heritage’s prescription program that reduces expenses and lowers drug costs.
About Tabula Rasa HealthCare
TRHC is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. TRHC provides solutions for a range of payers, pharmacist providers and other healthcare organizations. For more information, visit TRHC.com.
About Heritage Health Solutions, Inc.
Heritage Health Solutions is a premier provider of integrated health care management to government entities and commercial clients. Heritage meets the demands of an ever-changing health care landscape by providing our clients with comprehensive, customized solutions. We manage costs, utilization, and quality, which leads to optimal health care outcomes. For more information visit https://heritagehealthsolutions.com/about-us/
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 2, 2020, 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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