Moorestown, NJ, August 15, 2019 – Tabula Rasa HealthCare (NASDAQ: TRHC) a leading provider of technology-enabled solutions to mitigate medication risk and reduce medical costs, today announced a new offering of Comprehensive Medication Review (CMR) opportunities to community pharmacists through the collaboration of two of its subsidiary companies, SinfoníaRx (SRx) and PrescribeWellness (PW). Community pharmacists now will have the opportunity to conduct face-to-face CMRs with their patients and receive compensation for additional clinical services.
“Engaging community pharmacists to provide in-person CMRs through PW’s Patient Engagement Center enhances our current solution and will further our efforts to expand community pharmacy practice,” explained TRHC Chairman and CEO Calvin H. Knowlton, PhD. “It is thrilling to see the synergies that are occurring as we continue to integrate our recent acquisitions within the TRHC solutions.”
The collaboration between SRx, the largest provider of telephonic CMRs, and PW, one of the largest networks of community pharmacies, benefits patients, their pharmacists and their health plans. For patients, there is an increased access to telephonic or in-person consultations. For pharmacists, the CMRs can be quickly and accurately documented as eCare Plans within the Patient Engagement Center using PrescribeCare, as they review all of a patient’s medications to help determine the efficacy of each medication prescribed. For payors, more eligible members will complete a CMR to ensure they are receiving optimized care.
“Adverse drug events are the third leading cause of death in the U.S.,” said Knowlton. “Too many people are on too many medications, contradicting one another, taken at the wrong time. A Comprehensive Medication Review could save a life. Our next addition to the SinfoniaRx and PrescribeWellness offerings will be our MedWise™ medication decision support tools that have been documented to improve outcomes, reduce costs, and improve quality.’’
About Tabula Rasa HealthCare
TRHC (NASDAQ:TRHC) is a leader in providing patient-specific, data-driven technology and organizational performance solutions that enable healthcare organizations to optimize medication regimens 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 TRHC.com.
TRHC’s SinfoníaRx is a leading provider of Medication Therapy Management (MTM) services. Through a comprehensive suite of innovative healthcare solutions, SinfoníaRx provides direct support to health plans, health systems, provider organizations, and pharmacies. SinfoníaRx’s staff of nationally renowned clinical pharmacists and interprofessional team work directly with caregivers, patients, and providers to ensure the most effective and safest medication therapy possible. For more information, visit sinfoniarx.com.
TRHC’s PrescribeWellness is a leading cloud-based patient relationship management solutions company that facilitates collaboration between more than 10,000 pharmacies, payers, providers, pharmaceutical companies and their patients for better health. Visit tabularasahealthcare.com/our-solutions/technology-products/
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 http://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: (215) 870-0829
Bob East or Asher Dewhurst
T: (443) 213-0500