Moorestown, NJ, June 25, 2020 – Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced it is expanding its clinical services to include special needs and high-risk patient populations enrolled in Medicare Advantage. TRHC will assist health plans in meeting the Care for Older Adults (COA) program requirements.
Starting with a large multi-state health plan, TRHC’s SinfoniaRx® solution will begin providing medication reviews and pain assessments for patients enrolled in Medicare Special Needs Plans (SNPs), one type of Medicare Advantage plan. Medicare SNPs are supporting nearly 3.5 million Americans as of June 2020. The intent of the COA measures is to ensure older adults enrolled in these plans receive appropriate screenings and services.
“Managed care plans came to us for assistance in meeting quality medication review requirements,” said TRHC Executive Vice President Sandra Leal, PharmD, MPH, FAPhA. “Leveraging our skilled pharmacists and medication safety technology, TRHC provides a process that increases communication between patient and provider by enabling medication safety information to be directly recorded into an EHR after a medication review and assessment.”
TRHC services to meet COA measures are delivered through TRHC’s RxCompanion™, a highly customizable and scalable platform that identifies and helps resolve medication and health-related problems. Through a population management approach, potential problems are triaged based on urgency and complexity, then resolved through telephonic, face-to-face or video-based consultations with a pharmacist.
“Patients in Medicare Special Needs Plans now can receive a personal medication list and medication action plan to help them better understand and maintain their medications,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “Health plans in need of assistance in meeting their Star Rating goals can be assured the TRHC team of pharmacists will help health plans achieve important quality measures.”
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.