Moorestown, NJ, August 3, 2021 – CareVention HealthCare, a division of Tabula Rasa HealthCare (TRHC), today announced the launch of its Remote Patient Monitoring (RPM) service. Using biosensors and artificial intelligence (AI), CareVention RPM provides continuous tracking of a patient’s vital signs and symptoms and alerts the patient’s healthcare provider to changes that warrant attention. CareVention HealthCare provides comprehensive services and solutions to value-based healthcare organizations, including Programs of All-inclusive Care for the Elderly (PACE).
“Remote monitoring enables a provider to intervene quickly when necessary and focus resources on the patients who need care the most,” said Calvin H. Knowlton, PhD, Chairman and CEO of TRHC. “This can improve patient health and safety and decrease unnecessary, costly utilization, such as ER visits and hospital admissions.”
CareVention HealthCare is partnering with Thaïs, a healthcare technology company, to use its remote monitoring platform and devices. Upon enrollment in CareVention RPM, an individual receives a kit, including a monitoring device and biosensors, such as thermometer, oximeter, and blood pressure machine. The biosensors send readings to the monitoring device, which transmits the data to a Thaïs monitoring center, staffed by trained clinicians. The patient’s provider is notified immediately if data indicate medical intervention is needed, as determined in advance by the provider for the individual patient.
“We have seen great results with CareVention Healthcare’s Remote Patient Monitoring,” said Ivan Merkelj, MD, medical director at Palm Beach PACE in Florida. “Our participants are monitored for multiple diseases, including hypertension, COPD (chronic obstructive pulmonary disease), diabetes, and congestive heart failure. The alerts and algorithm are geared towards PACE participants, so our providers get filtered data that allow them to make actionable clinical decisions. The providers like the biweekly reports, and our participants are more engaged in managing their conditions.”
In addition to performing real-time risk stratification based on vital signs and symptoms, CareVention HealthCare’s RPM filters data to reduce alert fatigue among providers. Alert fatigue can occur in healthcare environments when clinicians become desensitized to system messages and alarms that may indicate problems with patients.
“RPM is useful for continuous observation of patients with COVID-19 or flu, or patients with symptoms of COVID or flu who need to quarantine, have been discharged from the hospital or emergency room, or have been seen by their provider for these symptoms,” said Ankur Patel, MD, MBA, Chief Medical Director of TRHC, who oversees the RPM service. “RPM is also an important tool in caring for patients with chronic conditions, such as COPD, diabetes, hypertension and congestive heart failure.”
For more information on CareVention HealthCare’s RPM service, visit CareVentionHC.com or contact Dr. Patel at 908-405-3779.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) provides medication safety solutions that empower healthcare professionals and consumers to optimize medication regimens, combatting medication overload and reducing adverse drug events – the fourth leading cause of death in the US. TRHC’s proprietary technology solutions, including MedWise®, improve patient outcomes, reduce hospitalizations, and lower healthcare costs. TRHC’s extensive clinical tele-pharmacy network improves care for patients nationwide. Its solutions are trusted by health plans and pharmacies to help drive value-based care. For more information, visit TRHC.com.
About CareVention HealthCare
CareVention HealthCare offers comprehensive, integrated solutions and services for value-based care organizations, including for every stage of Programs of All-inclusive Care for the Elderly (PACE), from exploring PACE at the state and organizational levels, through start-up and ongoing operations. Integrated end-to-end services assure regulatory compliance, participant health and safety, efficient workflows and optimized financial management. For more information, visit CareVentionHC.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 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. 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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