MOORESTOWN, N.J., April 2, 2019 — Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety and improving healthcare, today announced the participation of its CareVention HealthCare Division and subsidiary companies in the National PACE Association’s (NPA’s) Spring Policy Forum in Washington, DC, April 1-2.
PACE is the federal Program of All-Inclusive Care for the Elderly, a Medicare and Medicaid benefit for individuals 55 and older who are nursing home eligible. The goal of the program is to keep participants living in their communities while receiving quality care. PACE organizations nationwide rely on TRHC’s technology, science, and PACE expertise.
During an April 1 session focusing on PACE policy, Peter Fitzgerald, NPA’s Executive Vice President for Policy and Strategy, spoke about anticipated changes in the Medicare payment model. CMS later that day finalized a move to the 2017 CMS-HCC payment model for PACE, which on average should result in modest increases in CMS payments for PACE organizations.
“The NPA’s Spring Policy Forum is a terrific opportunity to learn more about federal policies that impact PACE,” said Orsula V. Knowlton, PharmD, MBA, TRHC’s President. “It also gives us a chance to spend time with our clients, to learn about the issues that affect them and educate them about the ways in which our services and technology can lead to better healthcare and financial outcomes.”
TRHC hosted an education and networking event on March 31, the eve of the conference. During the program, Chairman and CEO Calvin H. Knowlton, PhD, shared the impetus behind TRHC’s 2018 acquisitions of PACE-focused companies Peak PACE Solutions, Cognify, Mediture and eClusive, and the formation of CareVention HealthCare to house them with TRHC’s Capstone Performance Systems and CareKinesis, providing medication safety and pharmacy services for PACE.
“We are committed to the PACE model, and as these companies became available, we saw opportunities to take these different entities and their offerings and integrate them,” said Dr. Calvin H. Knowlton. “We can provide enhanced services and technology to PACE organizations, enabling them to deliver more efficient, advanced care to their participants. Our goal is to support the NPA’s PACE 2.0 initiative, which is focused on rapid growth and expansion of the PACE model nationwide.”
TRHC had a strong presence at the conference. On Monday, the company hosted the California PACE Association’s annual member dinner; California is one of the fastest growing PACE States. Additionally, TRHC’s PACE-focused subsidiaries exhibited at the conference. Capstone Performance Systems introduced a new product, the Medicare Revenue Cycle (MRC) Report. The MRC Report provides a summary of a PACE plan’s CMS monthly Medicare Membership Report, including key indicators that can impact the plan’s Medicare payments.
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.