MOORESTOWN, N.J., April 13, 2020– Tabula Rasa HealthCare Corporation® (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced today a partnership with Irvine-based HealthQuest Esoterics, Inc. to support the preparation and delivery of thousands of testing kits for the detection of SARS-CoV-2, the virus that causes Coronavirus Disease 2019 (COVID-19). The testing kits will be available for TRHC’s PrescribeWellness nationwide network of community pharmacies.
TRHC’s COVID-19 operationalized response preceded the U.S. Department of Health & Human Services (HHS) recent declaration granting licensed pharmacists authority under the Public Readiness and Emergency Preparedness Act (PREP Act). This landmark announcement, a testament to the critical role of the pharmacist in the community, enables pharmacists to conduct COVID-19 testing without physician authorization.
“As Americans continue to seek answers and resources related to COVID-19, the role of pharmacy within the patient healthcare continuum becomes ever important,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “By equipping pharmacies across the nation with these tests, TRHC and HealthQuest are helping pharmacies provide additional services to patients in a time of crisis.”
“Access to COVID-19 testing is one of the most pressing health needs in America today,” said HealthQuest Esoterics, Inc. President, Tom Giancursio. “Through TRHC’s PrescribeWellness network of community pharmacies, we are able to provide direct impact to communities throughout the United States to combat this developing pandemic.”
TRHC’s PrescribeWellness patient relationship management solutions enable pharmacists to quickly and accurately execute patient communications to fortify community engagement. In March and April of 2020, the PrescribeWellness solution facilitated the delivery of voice and text messages to more than 2 million patients for COVID-19 awareness, including information on home delivery, curbside or drive-through pickups, front-end items, and reassurance that medications would remain available. A dedicated coronavirus resource webpage was also created for pharmacists.
According to TRHC Executive Vice President for PrescribeWellness, Farah Madhat, PharmD, MA, enhanced clinical services facilitated by TRHC continue to transform the role of the pharmacy from traditional medication dispensary to critical healthcare destination. Through TRHC’s PrescribeWellness solution, patient connections are deepened, enabling pharmacists to operate at the top of their licenses to provide optimized care for safer communities.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (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. Medication risk management is TRHC’s lead offering, and its cloud-based software applications provide solutions for a range of payers, providers and other healthcare organizations. For more information, visit TRHC.com.
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 tabularasahealthcare.com/our-solutions/technology-products/. To order COVID-19 testing kits please visit https://blog.prescribewellness.com/covid-19-testing-kit-order-form/
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. These forward-looking statements include, among other things, our goals and expectations regarding the combined company and the integration of PW into TRHC, the expected synergies from the combined company and the expected financial and operating performance of TRHC following the completion of the acquisition. 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 risk that we may not be able to achieve our expectations for the combined companies due to challenges in integration and inability to retain key employees; fluctuations in our financial results; the acceptance and use of our products and services by PACE organizations and pharmacies; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; our ability to maintain relationships with a specified drug wholesaler; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; the requirements of being a public company; our ability to recognize the expected benefits from acquisitions on a timely basis or at all; and the other risk factors set forth from time to time in our filings with the Securities and Exchange Commission (“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 ir.trhc.com or upon request from our Investor Relations Department. 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: (856) 912-5714
T: (215) 870-0829
T: (312) 451-2157