MOORESTOWN, NJ, (July 15, 2020) – Tabula Rasa HealthCare, Inc® (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced the launch of MedWise™ to its PrescribeWellness® (PW) community pharmacy network. Compared to the current technology of one-to-one drug interaction checking that has existed for decades in electronic health records and pharmacy software, MedWise, for use by pharmacists, is the only technology that cumulatively compares how medications interact together, all at the same time.
“If a person takes seven or more medications, which is common among the elderly, the chance of experiencing an adverse drug event (ADE) is 82%,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “The best way to minimize harm from ADEs is through prevention. By using MedWise, pharmacists can now help prevent ADEs and provide better patient care by identifying exactly how medication regimens put patients at risk.”
Available within TRHC’s PrescribeWellness patient engagement software, MedWise includes the unique MedWise Risk Score™ (MRS) calculation along with a new feature known as MedWise Decision Support (MDS). MDS simulates changes to the risk score in real-time, helping pharmacists to assess simultaneous, accumulative, multi-drug interactions amongst complex medication regimens in an efficient manner and avoid ADEs. ADEs are largely considered preventable and are the third leading cause of death.
“Through MedWise, we’re helping to provide significantly enhanced clinical services and improved outcomes for our patients,” said PrescribeWellness client Cheri Schmit, R.Ph., Director of Clinical Pharmacy, Medicap Pharmacy in West Des Moines, Iowa.
“Community pharmacists have at their disposal an unprecedented opportunity for risk mitigation and clinical intervention utilizing MedWise, available within the PrescribeWellness software,” said TRHC EVP of PW, Farah Madhat, PharmD, MA. “The MedWise platform has revolutionized how pharmacists develop clinical interventions to prevent ADEs and improve patient safety. This is particularly helpful considering the multi-drug interactions that occur with medications that are being used to treat COVID-19. MedWise has led to improved quality, enhanced patient loyalty, retention, and medical costs savings, all of which are critical outcomes for our clients.”
While client-reported data has existed for years, recently published studies found that reduction in the MRS is associated with lower medical costs, fewer adverse drug events, emergency department visits, and hospitalizations.
TRHC’s PrescribeWellness solution is a leading cloud-based patient relationship management technology that facilitates collaboration between more than 10,000 pharmacies, payers, providers, pharmaceutical companies and their patients for better health. Visit prescribewellness.com or https://www.tabularasahealthcare.com/our-solutions/technology-products/.
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 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. 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.