MOORESTOWN, NJ, September 6, 2019 – Tabula Rasa HealthCare (NASDAQ:TRHC), a leading provider of technology-enabled solutions to mitigate medication risk and improve health plan operations, today announced that its Peak Health Plan Management and eClusive units, providers of third party administration services (TPA), have combined and now operate as PeakTPA.
PeakTPA processes insurance claims and provides “back office” services to healthcare organizations for optimized financial management and regulatory compliance. Services include claims adjudication, enrollment management, accounts receivable, and more.
PeakTPA is the market leader in health plan management for Programs of All-inclusive Care for the Elderly (PACE). PACE is a federal program benefiting individuals 55 and older who are nursing home eligible. PACE includes 260 centers in 31 states serving a growing number of eligible Medicare and Medicaid participants.
“We are pleased to welcome the eClusive staff to the PeakTPA team,” said Patty Bailey, CEO of PeakTPA. “Their experience in claims adjudication, combined with Peak’s expertise and commitment to superior customer care, will enable us to deliver services that are precisely tailored to each client’s needs. Both our expanded team and our new name will be beneficial as we look to grow beyond the PACE market.” The term “TPA” is used more frequently in non-PACE markets.
PeakTPA operates as part of TRHC’s CareVention HealthCare Division, which focuses on providing integrated services to PACE organizations and other value-based healthcare providers. About 80% of PACE organizations use at least one CareVention service.
PeakTPA assures that value-based healthcare organizations meet all related financial management and regulatory requirements, including accurate claims adjudication and payment; provider and member services; risk adjustment submission; encounter data submission; and Medicare Part D reporting. With customer-focused and PACE-specific approaches, PeakTPA helps organizations remain compliant, obtain accurate reimbursement, and measure performance. For more information, visit PeakTPA.com.
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.