We are excited to announce our work with Tabula Rasa HealthCare. Their unique technical expertise will help us bring valuable adherence data to clients efficiently and accurately - improving access to healthcare in the communities we serve.
Moorestown, NJ, JUNE 16, 2020 – Tabula Rasa HealthCare® Corporation (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety has partnered with Equiscript, a 340B patient pharmacy care and technology company, to deliver advanced medication adherence reports and analytics for Equiscript and its community health center and hospital clients.
“A Medication Safety Review™ is the most important step in setting a patient’s foundation for an optimized medication regimen,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “Monitoring and reporting on patient medication adherence is difficult for many clinicians and health systems. TRHC’s clinical algorithms are used to provide a robust report to mitigate medication risk and improve patient outcomes for Equiscript.”
Through this partnership, TRHC provides estimated Star ratings for Equiscript’s national pharmacy service. Detailed adherence information for Equiscript’s health center and hospital clients is also provided, and the application allows Equiscript to identify patients who may benefit from an adherence discussion or medication safety review with a pharmacist or other clinician. These data and analyses are neatly packaged for Equiscript to forward to clients looking to understand adherence trends across their organizations.
“A hallmark of Equiscript’s service is helping our clients improve patients’ medication adherence rates through Equiscript’s high-touch, service-oriented delivery model,” said Equiscript CEO Michael Burkhold. “Our patient adherence rates are well above national averages. The addition of TRHC clinical algorithms provide valuable clinical information back to clients so they can make sure that high-risk, high-need patients are getting the medication and support they need to be healthier.”
The 340B Program enables covered entities to stretch scarce federal resources as far as possible, reaching more eligible patients and providing more comprehensive services. In 2019, more than 12,000 safety-net hospitals and health centers nationwide participated in 340B.
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.
Equiscript is a mission-driven company dedicated to improving access to healthcare in the communities it serves. Equiscript helps community health centers and hospitals generate resources and improve patient adherence through 340B home delivery pharmacy programs. For more information, visit equiscript.com.
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 2, 2020, 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.
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