Programs of All-inclusive Care for the Elderly Expanding in the State of Arkansas
MOORESTOWN, N.J., Jan. 31, 2019 — Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, today announced its subsidiary, CareKinesis, has been selected to provide comprehensive medication management services to the third PACE organization in Arkansas.
CareKinesis will serve as its medication safety partner. In addition, Cognify and Capstone Performance Systems, also subsidiaries of TRHC, will provide integrated electronic health record solutions and health plan management services, respectively. The three TRHC companies also collaborate with each of the other PACE organizations in Arkansas.
PACE, the acronym for Program of All-Inclusive Care for the Elderly, is a Medicare and Medicaid benefit for individuals 55 and older who are nursing home eligible. PACE includes 255 centers in 31 states serving eligible Medicare and Medicaid participants with an industry goal of doubling over the next three years. The goal of the program is to keep participants living in their own homes while receiving quality care.
CareKinesis will provide its Medication Risk Mitigation, e-prescribing technology platform, and pharmacy services to the new partner. Multi-drug interaction-informed adherence packaging will be used to help avoid preventable adverse drug events, the 4th leading cause of death in the U.S. among older adults, according to the Centers for Disease Control.
“We are focused on supporting the comprehensive needs of PACE organizations in Arkansas and the nation,” stated CareKinesis President Orsula V. Knowlton, PharmD, MBA, and President and Chief Marketing and Business Development Officer of TRHC. “Our integrated PACE offering helps clients to optimize patient care outcomes, streamline operational workflow, and leverage meaningful data analytics that enable them to reduce clinical and financial risk while scaling their needed services in their community.”
According to Becky McDaniel, RN, Director of Population Health Management, at Total Life Healthcare in Jonesboro, PACE is a growing healthcare service in the State of Arkansas. “Total Life Healthcare was the first PACE organization in Arkansas when we opened in 2008. The second opened in North Little Rock in 2017. We look forward to the third that will help fill the need in the State.”
Total Life Healthcare/PACE currently serves more than 200 seniors. To learn more about Total Life and PACE go to https://www.stbernards.info/facilities/facility/st.-bernards-total-life-healthcare.
PACE organizations nationwide rely on CareKinesis technology, science, and pharmacists who are board-certified in geriatrics, to improve medication outcomes and adherence and to reduce participant hospitalizations.
About CareKinesis
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. CareKinesis delivers individually customized medication services 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.CareVentionHC.com.
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 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, including EireneRx® and MedWise Advisor®, provide solutions for a range of payers, providers and other healthcare organizations. www.tabularasahealthcare.com.
Forward-Looking Statements
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.
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