Moorestown, NJ and IRVINE, Calif.—April 11, 2019— Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, today announced it has contracted with one of the largest health insurers in Arkansas. The partnership, through TRHC’s PrescribeWellness subsidiary, will improve quality and performance outcomes for eligible plan members who fit criteria by leveraging community pharmacists to improve medication adherence and address gaps in care.
“TRHC always has been focused on creating reimbursement opportunities for pharmacists providing clinical services. This partnership is a great example of our progress towards that goal. It is very exciting and serves as initial validation of our rationale for the acquisition we completed last month with PrescribeWellness,” stated TRHC Chairman and CEO Calvin H. Knowlton, PhD. “Through our new payer partnership, pharmacies will use TRHC’s PrescribeWellness comprehensive technology platform to identify medication safety intervention opportunities and document encounters. Pharmacies in the PrescribeWellness network will then be compensated on a per patient, per quality measure basis with added bonuses based on PW network performance throughout the plan year.”
TRHC’s comprehensive technology platform drives the pharmacist patient care process and supports enhanced services to address the unique medication use needs of complex patients.
“Community pharmacies are ideally situated to positively impact the health of patients—and all Americans—by addressing medication concordance, adherence and other gaps in care along with providing other crucial preventive healthcare services. And now they will be compensated for their services in Arkansas,” said Al Babbington, CEO of PrescribeWellness. “We are here to empower pharmacists to go ‘beyond the fill’ with innovative technological solutions that advance their ability to identify, manage and drive patient care solutions, addressing the needs of the total patient—for every patient, every day.”
PrescribeWellness, a wholly owned subsidiary of Tabula Rasa HealthCare, is a leading provider of software and services that are expanding the role of pharmacy to deliver population health and chronic care management services. The company’s cloud-based technology is used by over 30,000 healthcare professionals in all 50 states to streamline the delivery of care and improve health outcomes. With behavioral science and interoperability at its core, the proprietary technology helps clients more effectively engage their patients. The platform currently connects more than 40 million patients and over 800,000 prescribers. PrescribeWellness has been named an Inc. 5000 Fastest-Growing Privately Held Company for the past four years. For more information, visit prescribewellness.com.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (NASDAQ: TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize performance to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. TRHC provides solutions for a range of payers, providers and other healthcare organizations. For more information, visit www.TRHC.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 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.
T: (215) 870-0829
Bob East or Asher Dewhurst
T: (443) 213-0500