MOORESTOWN, N.J., Nov. 01, 2018 — Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, applauds the signing into law of the SUPPORT (Substance Use-Disorder Prevention that Promotes Opioid Recovery and Treatment) for Patients and Communities Act.
One of the major policy changes in the new law, which became effective upon signing, will require Medicare Part D plan sponsors to adopt Medication Therapy Management (MTM) programs for seniors determined to be “at risk” for prescription drug abuse by year 2021. The current law allows sponsors to voluntarily adopt MTM services. Additionally, the Act will encourage the use of innovative technologies for MTM to ensure that prescribers have the insight and information they need to address inappropriate and complex prescribing and abuse of opioids.
“We commend the President for signing the ‘SUPPORT for Patients and Communities Act,’ a critical step in the fight against opioid abuse,” said TRHC Chairman and CEO, Calvin H. Knowlton, Ph.D. “This new law will ensure that at-risk individuals receive the MTM counseling they need to curb unintentional prescription misuse, opioid abuse and adverse drug events. We stand ready to support our Medicare partners as they continue to improve the health outcomes of at-risk seniors.”
TRHC’s proprietary MTM solutions, such as MedWise™, are designed to analyze multi-drug risk and improve the prescribing process, increase medication safety, and reduce adverse drug events and hospitalizations. The technology plots a patient’s entire multi-drug medication regime against various extrinsic and intrinsic medication safety factors. MedWise provides a Medication Risk Mitigation Matrix™ and risk score for each patient that MTM pharmacists can use when making recommendations to patients and prescribers.
The company provides MTM programs to 150 Medicare Advantage contracts representing three million beneficiaries and is spearheading a large CMS model program, called Enhanced MTM, across seven states.
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.