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Tabula Rasa HealthCare, Inc. (NASDAQ: TRHC) is a leading healthcare company that specializes in personalized, comprehensive care for value-based care organizations. The company offers innovative service models and cutting-edge healthcare technology solutions that improve patient outcomes and maximize provider efficiency. Headquartered in Moorestown, New Jersey, TRHC focuses on optimizing medication management and delivering precise, individualized care to at-risk populations.
TRHC's core services include comprehensive pharmacy services, personalized medication management, and a suite of clinical and business management tools. These tools help health plans and provider groups optimize utilization and improve patient health. The company's technology-enabled solutions are designed to reduce risk, enhance medication efficacy, and improve overall healthcare efficiencies.
In recent developments, TRHC has entered into a definitive agreement to be acquired by Nautic Partners for $10.50 per share in cash, valuing the company at approximately $570 million. This acquisition is set to combine TRHC with ExactCare Pharmacy, another portfolio company of Nautic, enhancing the reach and capabilities of both entities. The merger is expected to close in the fourth quarter of 2023, subject to customary closing conditions.
TRHC's recent financial performance has been strong, with significant organic growth in its core PACE (Program of All-Inclusive Care for the Elderly) market. The company has focused on developing and expanding partnerships with risk-bearing healthcare organizations, aiming to serve the most complex care needs. This strategic focus has led to impressive financial results and increased profitability.
For those interested in the latest updates, TRHC will hold a conference call and webcast to discuss its second quarter 2023 financial results on August 8, 2023. The company continuously updates its stakeholders through its Investor Relations section on its website, providing access to financial results, earnings calls, and other significant announcements.
Tabula Rasa HealthCare (TRHC) has announced a partnership with the Missouri Pharmacy Association (MPA) to enhance medication safety through the introduction of the Certified MedWise Advisors™ program. This initiative aims to educate MPA members on TRHC’s MedWise™ software, designed to reduce adverse drug events and improve patient outcomes. MPA is the first state pharmacy association to sign this co-marketing agreement, with plans for additional states. By expanding pharmacist expertise, the collaboration seeks to optimize medication management and lower healthcare costs in Missouri.
Tabula Rasa HealthCare (TRHC), a healthcare technology company specializing in medication safety, has appointed Dr. Celynda G. Tadlock as Chief Client Officer and EVP of Pharmacy Benefit Services. This strategic move aims to enhance client services and support TRHC's growth and profitability. Dr. Tadlock's extensive experience in pharmacy benefit management includes roles at Aetna, Express-Scripts, and Anthem, where she oversaw significant drug spend and member management. TRHC continues to leverage its proprietary technology, MedWise™, to improve patient outcomes and reduce healthcare costs.
Tabula Rasa HealthCare (TRHC) has partnered with the American Academy of Home Care Medicine (AAHCM) to enhance clinical documentation training through its Capstone Performance Systems service line. The new Clinical Documentation Excellence (CDE) Online Education program offers AAHCM members discounted access to over 10 hours of training on risk adjustment and documentation practices. This collaboration aims to improve compliance and revenue optimization for value-based care organizations.
Tabula Rasa HealthCare (TRHC) has entered into a partnership with the American College of Apothecaries (ACA) to enhance medication safety education for community pharmacists. Through this collaboration, ACA members will be trained on TRHC’s MedWise software, which provides clinical intelligence to prevent adverse drug events. ACA aims to empower its members with innovative solutions to manage complex medication regimens effectively. TRHC's technology focuses on minimizing medication-related risks and improving patient outcomes while reducing healthcare costs.
Tabula Rasa HealthCare (TRHC) announced a partnership with Neil Medical Group to implement its DoseMeRx solution in long-term care and assisted living facilities across the Southeastern U.S., including Kentucky, North Carolina, South Carolina, Georgia, and Virginia. This collaboration aims to enhance medication safety through precise dosing, reducing adverse drug events, and streamlining operations. The partnership emphasizes improving health outcomes for older adults, showcasing DoseMeRx’s benefits as evidenced by peer-reviewed studies on dosing guidelines.
Tabula Rasa HealthCare (TRHC) reported Q3 2020 results, experiencing a 5% decline in total revenue to $70.5 million, impacted by COVID-19. However, October PACE net enrollment saw a significant recovery, more than doubling from September 2020, marking the highest figures in two years. The company anticipates revenue growth of 20% in 2021, driven by increased enrollment and a strong sales pipeline, despite a net loss of $21.6 million for the quarter.
The firm expects revenue of $294-$296 million for the full year 2020.
Tabula Rasa HealthCare, Inc (TRHC) has announced a strategic partnership with PioneerRx to enhance medication safety through TRHC's MedWise™ software. This collaboration will equip over 4,700 community pharmacies across the U.S. with actionable clinical intelligence, aiming to improve patient outcomes and reduce adverse drug events. MedWise utilizes the MedWise Risk Score™ to analyze patients' medications and predict potential issues. The partnership is expected to strengthen clinical pharmacy capabilities, offering better support to independent pharmacies and their patients.
Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) will hold a conference call on November 4, 2020, at 8:30 a.m. EDT, to discuss its third quarter 2020 operating results. The financial results for the quarter ended September 30, 2020, will be released on November 3, 2020, after market close. The call will be led by CEO Calvin H. Knowlton, Co-Founder Orsula V. Knowlton, and CFO Brian W. Adams. A live audio webcast will be accessible via the investor relations section of TRHC’s website.
Tabula Rasa HealthCare (TRHC) has launched a campaign, in partnership with the American Pharmacists Association, titled “Medication Safety Starts with a Pharmacist.” This initiative focuses on educating consumers about medication safety and the essential role of pharmacists in preventing adverse drug events (ADEs), which lead to over 1 million emergency visits annually in the U.S. The campaign aims to emphasize patient engagement and the importance of pharmacists in personalizing medication regimens to enhance safety and health outcomes.
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