02opida
3 years ago
2021-11-04 16:30 ET - News Release
-- Third quarter revenue grew 23% year-over-year to $86.6 million.
-- Third quarter organic revenue growth of 17% compares with 1% during the first half of 2021.
-- MedWise HealthCare software subscriptions revenue of $11.8 million increased 16% year-over-year and 17% on a sequential basis as compared to the second quarter of 2021.
MOORESTOWN, N.J., Nov. 4, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc. ("TRHC") (Nasdaq: TRHC), a leading healthcare technology company advancing the safe use of medications, today reported financial results for the third quarter ended September 30, 2021.
02opida
3 years ago
MOORESTOWN, N.J., Sept. 22, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, announced today a newly signed agreement with Neighborhood Healthcare, a regional Federally Qualified Health Center (FQHC) providing a wide range of medical, dental, and behavioral health services.
The non-profit organization deployed TRHC's CareKinesis and Pharmastar Pharmacy Benefit Manager (PBM) services in its Program of All-Inclusive Care for the Elderly (PACE®) facility in Riverside, CA., that opened July 1.
"As a new PACE center, we place medication safety as a top priority," said Sophia Rodrigues, Executive Director of Neighborhood Healthcare PACE. "TRHC's deep experience with PACE and the unique benefits of its CareKinesis and Pharmastar solutions align perfectly with our work to provide seniors with tailored medical care."
CareKinesis is the first national PACE-centric medication management and distribution pharmacy that reduces medication-related risk while enhancing economic, clinical, and humanistic outcomes. Along with Pharmastar's full-service pharmacy benefits management solution, these offerings will provide Neighborhood Healthcare with PACE-specific 340B pharmacy expertise.
"We are thrilled to assist Neighborhood Healthcare's PACE facility," said TRHC Co-Founder and President, Orsula V. Knowlton, PharmD, MBA. "Our engagement will help support its continued growth in serving seniors throughout Southern California."
"We're pleased to implement TRHC's solutions in our PACE offerings," added Rakesh Patel, MD, MBA, FAAFP, CPE, CEO of Neighborhood Healthcare. "TRHC's PACE and pharmacy expertise underscores our mission to improve the health and happiness of the communities we serve by providing quality care to all, regardless of situation or circumstance."
02opida
3 years ago
MOORESTOWN, N.J., Sept. 16, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, today announced the results of a three-part clinical study that further demonstrates the strong associations between a high MedWise Risk Score™ and poor health outcomes. These studies validate that medication interventions informed by MedWise® clinical decision support tools improve health outcomes and lower healthcare costs when used by specially certified pharmacists.
New Studies prove link between TRHC's MedWise and better health outcomes, reduced healthcare costs
The peer-reviewed three-part series, Innovative Enhanced Medication Therapy Management Model: Medication Risk Score, Medication Safety Review, and Health Care Outcomes, was published in the September issue of The American Journal of Managed Care®. In the first study, researchers added to the body of research showing additional associations between a high MedWise Risk Score and poor health outcomes. In the second study, they showed how interventions developed using MedWise by Certified MedWise Advisor pharmacists reduced medication-related risk and improved health outcomes. The third study revealed the types and extent of outcomes that were improved, including reduced costs, hospitalizations, emergency room visits, and premature death.
"This advanced research adds to the growing body of scientific study irrefutably demonstrating the unique value that TRHC's innovative MedWise Science brings to older adults and to Enhanced Medication Therapy Management (EMTM)," said TRHC Chairman and CEO Calvin H. Knowlton, PhD. "These studies clearly show that when pharmacists use the MedWise Risk Score to prioritize at-risk patients and then use Certified MedWise Advisor pharmacists to inform interventions, they improve outcomes and decrease costs."
TRHC's innovative MedWise technology can identify medication risk for individual patients or across patient populations by combining patient-specific clinical information, their pharmacist-reconciled medication regimen, and MedWise Science to identify which patients and populations are at higher risk for ADEs and require more immediate medication management attention.
"Today's aging population and rising healthcare costs require innovative approaches that consider the implications of multi-drug interactions in patients," said Jacques Turgeon, BPharm, PhD, TRHC Chief Scientific Officer and CEO of Precision Pharmacotherapy Research and Development Institute. "This research is a significant step forward in definitively demonstrating the value of TRHC's approach as it relates to patient outcomes."
Previous peer-reviewed, published studies have found that a lower MedWise Risk Score™ correlated with fewer ADEs, emergency department visits, and hospitalizations, along with lower medical costs and a decreased risk of premature death.
02opida
3 years ago
MOORESTOWN, N.J., Aug. 30, 2021 /PRNewswire/ -- CareVention HealthCare, a division of Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), today announced a new shared partnership agreement with the PACE Association of Michigan (PAM). The agreement, effective August 1, 2021, will help expand and promote the use of CareVention HealthCare products and services to association members to help support improved operational efficiencies and optimized clinical and economic outcomes.
02opida
3 years ago
MOORESTOWN, N.J., Aug. 25, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, and Hesperos Inc., pioneers of Human-on-a-Chip® in vitro systems, have been awarded $1.9 million in funding from the National Institutes of Health (NIH) to investigate drug-induced dementia and develop new models that will drive Alzheimer's research.
02opida
3 years ago
MOORESTOWN, N.J., Aug. 19, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, today announced a new initiative with Drake University and Certintell to drive improved health outcomes and demonstrate the value of combining remote patient monitoring (RPM) and comprehensive medication management, including MedWise® Medication Safety Reviews (MSRs) throughout rural Iowa. The project is being funded through a 5-year $1.6 million grant from the Health Resources and Services Administration (HRSA).
02opida
3 years ago
2021-08-12 08:00 ET - News Release
MOORESTOWN, N.J., Aug. 12, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, today announced an expanded partnership with eHealth, Inc., a licensed online health insurance marketplace with more than 200 carrier relationships, to offer a complementary Medicare Plan Review module to all PrescribeWellness client pharmacies throughout the country.
This partnership empowers pharmacists to engage and collaborate with patients on Medicare plan comparisons, further improving care
Medicare plan reviews are a critical way for pharmacists to engage with their patients, helping to achieve better outcomes for both patient and pharmacy. The eHealth solution helps patients find the best available plan for their prescription drug needs while keeping them with their pharmacy. Through this partnership, pharmacies will have access to a comprehensive solution for Medicare plan reviews, customized outreach during open enrollment and when patients turn 65, and an eCare plan to document clinical services.
"This partnership furthers our goal of helping pharmacists deliver total patient care through one of the most accessible pharmacy software platforms available, that includes proven tools such as the MedWise Risk Score™," said Farah Madhat, PharmD, MA, Executive Vice President, MedWise HealthCare Division at TRHC. "Studies show that more than 57% of Medicare beneficiaries do not review their coverage annually. Through partnerships like this, our PrescribeWellness platform empowers community pharmacists to collaborate and engage with patients on Medicare plan comparisons and enrollments, further improving patient care and expanding revenue and pharmacy performance."
With the newly enhanced Medicare Plan Review module, pharmacies will now have a consolidated dashboard with access to all Medicare plans to help patients find the plan that best fits their needs. Pharmacies have access to Medicare experts, can provide Medicare Advantage plan comparisons, and highlight plans covered at the pharmacy while facilitating safe and simple enrollment.
"We're pleased to team up with Tabula Rasa," said John Connor, eHealth's Vice President and General Manager of Strategic Partnerships. "eHealth's technology will allow Tabula Rasa's client pharmacists to more fully engage with their patients through a digital patient-facing portal, personalized shopping experiences, and access to licensed Medicare agents. It's a natural fit with eHealth's mission to connect everyone with quality, affordable health insurance and Medicare plans."
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