MOORESTOWN, N.J. and CHARLOTTE, N.C., September 10, 2019 — Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ:TRHC), a leading provider of technology-enabled solutions to mitigate medication risk, reduce medical costs, and optimize client performance, today announced its health plan management group, PeakTPA, has signed an agreement to partner with Troy Medicare. Troy Medicare is a licensed Medicare Advantage plan that empowers independent pharmacies to reduce health costs with data-enabled care coordination.
PeakTPA provides third party administrator (TPA) and “back office” services to healthcare organizations for optimized financial management and regulatory compliance. Services include claims adjudication, enrollment management, accounts receivable, and more.
“Because we are the first health plan to bridge the data silos between the pharmacy and the doctor’s office, we needed a technology partner that has experience in both arenas. We are proud to partner with Tabula Rasa HealthCare’s PeakTPA, which aligns perfectly with our vision to leverage technology to empower providers to deliver great care,” said Flaviu Simihaian, CEO of Troy Medicare.
Troy’s care coordination data and TRHC’s technology, services, and revenue model optimize client financial management and help fulfill regulatory requirements for health plan functions. The expertise in health plan management means health plan organizations can focus on delivering high-quality care to members.
“Tabula Rasa is pleased to be selected as Troy’s technology, care coordination, and adjudication partner,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “Pharmacy in a health plan is a key component, providing dramatic results in terms of quality, patient safety, and cost-of-care. We look forward to delivering upon this synergy for Troy Medicare.”
About Troy Medicare
Troy Medicare is a North Carolina-based Medicare Advantage plan (HMO) that uses data and technology to empower providers to truly impact each patient’s health and get rewarded for those results. The company is focused on the rural communities across the United States where pharmacists and physicians are the core of each member’s healthcare decisions. By reducing these providers’ administrative burden and empowering them with world-class data and technology, Troy Medicare has proven to meaningfully reduce health costs for members in each community.
Forward-Looking Statements
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.