Tabula Rasa HealthCare, Inc. - TRHC STOCK NEWS

Tabula Rasa HealthCare (TRHC) announced a partnership with Medplus Solutions, a pharmacy services provider in Puerto Rico, to implement MedWise medication safety solutions for long-term care clients. This collaboration aims to enhance clinical pharmacy services and mitigate medication risks for patients on multiple medications.

MedWise uses the MedWise Risk Score (MRS) to identify potential adverse drug events. A published study showed that reducing the MRS leads to fewer emergency visits and lower medical costs. Medplus serves more than 500 facilities, catering to approximately 10,000 patients.

Tabula Rasa HealthCare (TRHC) has appointed three technology leaders with significant healthcare experience to enhance its executive team as of September 2020. Orsula V. Knowlton emphasized the importance of this move for continued organic revenue growth and strategic initiatives. The new executives include Bob Sullivan as the Chief Technology Officer, Jeffrey DiFrancesco as Chief Product Officer, and Steve Lemak as Senior Vice President of IT Infrastructure. Their expertise aims to drive innovation in medication risk management and support TRHC's future growth objectives.

Tabula Rasa HealthCare (TRHC) announced the publication of a study from its Precision Pharmacotherapy Research and Development Institute (PPRDI) in the Journal of Clinical Medicine. The research assesses the risk of adverse drug events (ADEs) when introducing COVID-19 repurposed drugs in frail older adults with polypharmacy. Using MedWise technology, the study found increased MedWise Risk Scores for participants, highlighting risks associated with drug-drug interactions and potential long QT syndrome. TRHC's findings reinforce the importance of their predictive tools in optimizing medication safety.

Tabula Rasa HealthCare (TRHC) has contracted with Golden Valley Health Centers to deliver PACE technology for their new center, Central Valley PACE, in California. This partnership will support comprehensive services for elderly participants, starting September 1, 2020. TRHC’s CareVention HealthCare will provide medication safety, pharmacy services, and regulatory compliance support. Currently, TRHC serves nearly 1,900 participants across California. The PACE program is projected to expand significantly, with TRHC aiming to enhance health outcomes and financial management for PACE organizations.

Tabula Rasa HealthCare (TRHC) reported second-quarter 2020 financial results showing total revenue of $76.8 million, a 1% increase year-over-year. Adjusted EBITDA fell to $7.1 million, down from $13.7 million in Q2 2019. Adjusted diluted EPS decreased to $0.07 compared to $0.35 a year earlier. CareVention revenue rose 13% to $50.5 million, while MedWise revenue dropped 16% to $26.4 million. The company anticipates a GAAP net loss of $15.1 million to $13.3 million for Q3 2020 and total revenue for 2020 in the range of $300 million to $310 million.

Tabula Rasa HealthCare (NASDAQ: TRHC) will hold a conference call on August 5, 2020, at 8 a.m. EDT to discuss its Q2 2020 operating results. The financial results for the quarter ending June 30, 2020, will be released after market close on August 4, 2020. The call will be hosted by CEO Calvin H. Knowlton, Ph.D., Co-Founder Orsula V. Knowlton, PharmD, and CFO Brian W. Adams. Investors can listen to the webcast on the company's investor relations website.

Tabula Rasa HealthCare (TRHC) announced the launch of MedWise, an innovative technology for community pharmacies that enhances medication safety. This platform allows pharmacists to evaluate multi-drug interactions simultaneously, addressing adverse drug events (ADEs), particularly in elderly patients who often take multiple medications. MedWise integrates with TRHC’s PrescribeWellness software, offering tools like the MedWise Risk Score and Decision Support for real-time risk assessment. Published studies link reduced risk scores to lower medical costs and fewer hospitalizations, underscoring the platform's potential impact on patient care.

Tabula Rasa HealthCare (TRHC) has launched the “Clinical Documentation Excellence” (CDE) Online Education series targeting Medicare risk adjustment. This program aims to train healthcare professionals in value-based care settings, enhancing their understanding of risk adjustment methodologies and ICD-10 coding. The curriculum comprises over ten hours of content, designed by experienced physicians, to improve documentation processes, which are essential for accurate revenue generation. This initiative responds to the complex training gaps faced by clinicians in Medicare risk adjustment.

Tabula Rasa HealthCare (TRHC) has partnered with Equiscript to enhance medication adherence analytics for community health centers and hospitals. This collaboration aims to deliver detailed adherence reports and Star ratings to Equiscript’s clients, improving patient outcomes and risk mitigation. TRHC's clinical algorithms will help identify patients needing medication reviews, thus optimizing medication safety. The 340B Program underpins this initiative, aiming to maximize resources and services for eligible patients.