MOORESTOWN, N.J., April 9, 2019 – Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ: TRHC), a leading provider of technology-enabled solutions to mitigate medication risk, commends a recent report issued by the White House Office of Science and Technology Policy that encourages innovative technology solutions to improve the lives and health of older adults and the disabled.
The report outlines areas where technology can support continued independence for the elderly, including medication management and avoidance of adverse drug interactions. Specifically, the report acknowledges that seniors’, who typically are on five or more medications and often see multiple care providers, are at an increased risk of adverse drug events (ADEs) and that clinicians’ play a critical role in medication risk mitigation management. The report also suggests that innovative healthcare technologies can be employed to identify patients at risk for ADEs and support clinicians with actionable insights to best treat these patients.
“We are emboldened by the White House’s endorsement of technology solutions, like TRHC’s,” said Calvin H. Knowlton, PhD, CEO and Founder of Tabula Rasa HealthCare. “Our medication risk mitigation tools have been proven to optimize medication regimens, improve medication safety and reduce medical costs among the elderly and high-risk populations. The federal government’s support reaffirms our strategy to continue growing and innovating in this field.”
TRHC’s proprietary Medication Risk Mitigation technology, MedWise™, simultaneously analyzes multi-drug regimens to identify medication-related risks and provide clinicians actionable opportunities to prevent adverse drug events – the third leading cause of death in the U.S. MedWise also produces a Medication Risk Score™ for each patient that has been shown to correlate directly with medical expenditures: the lower the risk score, the lower the medical costs, mostly from reductions in hospitalizations.
TRHC continues to add to its solution suite, enabling expansion into new markets improving medication safety across more healthcare organizations in the U.S. and globally. TRHC expanded into the hospital and community pharmacy markets through its recent acquisitions of DoseMe and PrescribeWellness, respectively. DoseMe enables hospitals to customize the dose of parenteral, or intravenous, medications for each patient, resulting in improvements to mortality, risk and outcomes, as well as saving hours of pharmacists’ time performing manual calculations. The acquisition of PrescribeWellness, a cloud-based patient relationship management solutions company, will ensure that TRHC’s MedWise Medication Risk Identification and Mitigation platform will have even more impact, reaching over 10,000 pharmacies and more than 15,000 pharmacists.
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.
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