TRHC Commends Legislation to Enable PACE Expansion, Helping More Seniors to Live Independently with Optimal Care and Safety
MOORESTOWN, N.J., (September 24, 2018) – Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, applauds the U.S. House of Representatives’ passage of the Comprehensive Care for Seniors Act (H.R. 6561). The legislation could enable PACE (Programs of All-Inclusive Care for the Elderly) to grow faster, operate more efficiently and expand many of the innovations that have proven to be successful in individual PACE organizations nationwide. TRHC currently works with PACE organizations in 21 states to provide medication management services.
PACE is a federal program benefiting individuals 55 and older who are nursing home eligible, but want to remain at home. The goal of the program is to keep participants living in their communities, while receiving high quality, personalized care. The updated PACE regulations are expected to facilitate faster growth and operations for PACE, so they can provide more effective and efficient care to more seniors. Currently, there are more than 250 PACE centers in 31 states, with over 45,000 individuals enrolled. The bill directs the secretary of the U.S. Department of Health and Human Services (HHS) to issue the final ruling on regulation for PACE by December 31, 2018.
“As a long-standing partner of PACE, we commend the House for passing this important legislation to enable the expansion of a valued healthcare program that supports our most vulnerable population,” said TRHC Chairman and CEO, Calvin H. Knowlton, Ph.D. “We look forward to our continued work with PACE to monitor and manage patients’ medication risks for improved safety, health outcomes and cost savings.”
Every year, medication risks such as allergic reactions, falls, overdoses and other negative side effects claim more than 125,000 lives and cause 1.3 million people costly trips to the emergency room, according to the Centers for Disease Control and Prevention. With 4.4 billion prescriptions filled in the U.S. each year, it is virtually impossible for providers to know the dangers of all medication combinations.
Through its proprietary Medication Risk Mitigation (MRM) technology, TRHC can predict and prevent harmful drug interactions before they occur. The MRM tool is the first of its kind to perform a simultaneous, multi-drug analysis that enables pharmacists and physicians to holistically evaluate a patient’s medication regimen, identifying potential risks that require intervention, such as changing the dosing amount or time of day that a medication is taken.
TRHC will be participating in the National PACE Association Annual Conference from October 21-24 in Portland, OR. Conference attendees may visit the TRHC exhibit booths to learn more about TRHC’s solutions, including its proprietary Medication Risk Score and validated economical and medical outcomes. TRHC staff, including Dr. Knowlton, will co-present with client PACE organizations on the topics of risk stratification and medication risk scoring to prevent adverse drug events, the Centers for Medicare & Medicaid Services (CMS) financial audits, and clinical pharmacy issues.
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. 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 14, 2018, 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.