MOORESTOWN, N.J., April 16, 2018 — Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ:TRHC), a healthcare technology company that develops and employs medication risk mitigation software solutions and tools to optimize medication safety, has been named by PharmAdva as the exclusive national provider of MedaCube to PACE (Program of All-inclusive Care for the Elderly) organizations. MedaCube is an in-home dispensing device that has proven to significantly improve medication adherence for older adults living in the community. Approximately 100 MedaCube units have been deployed by CareKinesis since January 2018.
PACE has 250 centers located in 31 States serving a growing number of eligible Medicare and Medicaid participants.
“CareKinesis has always offered reminder packaging to our PACE clients, in addition to using our proprietary medication risk mitigation tools to identify the most appropriate and safest administration schedule for each individual,” said TRHC President Orsula V. Knowlton. “We are pleased that we now are able to incorporate our science-based approach to personalizing medication safety with this home dispensing device. Our MedaCube offering will greatly enhance the patient experience, and help our clients better manage their patients in their homes when adherence packaging is no longer an option.”
“MedaCube is the leading product for elder care home-based medication management. Our mission and culture is perfectly aligned with CareKinesis,” said PharmAdva CEO Jonathan Sacks. “Working together, we are continuing to improve patient outcomes, extending their independence and reducing overhead for CareKinesis’ PACE clients.”
As part of its mission to improve medication safety for PACE, CareKinesis is exclusively offering MedaCube to PACE and similar at-risk provider organizations that need help improving adherence and reducing homecare queuing expenditures when adherence packaging is no longer applicable.
“Some PACE participants need additional support with their medications over time,” explained Dr. Knowlton. “Taking the right medications at the right time is key to medication safety and to avoiding preventable ER visits and hospitalizations that put elderly participants at risk for complications. Our PACE clients’ experiences thus far have shown fewer homecare visits for medication adjustment, which results in lower costs for them. Initial client clinical outcomes and satisfaction outcomes are very positive, as well.”
MedaCube is a 10-inch, cube-shaped device that provides real-time notifications to caregivers and nurses when patients do not take medications as expected. If a patient misses a dose or the machine sensors indicate tampering, caregivers/nurses are alerted. CareKinesis provides 24-hour customer service for clients.
CareKinesis partners with healthcare organizations to provide personalized medication therapy management and pharmacy services for high-risk populations. The results are enhanced medication-related outcomes and greater operational efficiency. The CareKinesis Medication Care Plan Support Center and Medication Adherence Packaging Pharmacy deliver individually customized medicine using unique robotic technology and a proprietary web-based electronic medication management and reporting platform, EireneRx®. It is the first, national PACE-specific pharmacy and the market leader. For more information, please visit www.carekinesis.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 medication regimens 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: www.TRHC.com.
PharmAdva develops and offers MedaCube, the only comprehensive medication adherence solution designed and patented by a leading health system (URMC). MedaCube also is the sole product proven under IRB in a peer-reviewed published pharmacy school trial to take patients averaging 50% compliant to a consistent 97% adherence rate. MedaCube is provided by health plans (pilot proven ROI), pharmacies, and providers to their patients, and has Medicaid reimbursement in several states. For more information, visit: www.medacube.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.
Bob East or Asher Dewhurst