Welcome to our dedicated page for Tabula Rasa HealthCare news (Ticker: TRHC), a resource for investors and traders seeking the latest updates and insights on Tabula Rasa HealthCare stock.
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) recently announced results from a pivotal three-part clinical study published in The American Journal of Managed Care. The research confirms a strong association between a high MedWise Risk Score and adverse health outcomes, demonstrating that interventions based on MedWise tools led to improved health results and reduced healthcare costs. Notably, the studies revealed significant reductions in hospitalizations, emergency room visits, and premature deaths among patients managed with MedWise. The findings support the vital role of certified pharmacists in optimizing medication regimens.
Tabula Rasa HealthCare (TRHC) hosted its 16th CareKinesis Clinical Advisory Panel (CAP) Meeting in Scottsdale, AZ, on September 9-10, 2021. The event gathered PACE medical directors to discuss the latest service enhancements and best practices in medication management. Attendees explored topics like Medication Risk Mitigation, Pharmacogenetics, and patient care optimization. TRHC aims to improve patient outcomes by addressing medication-related risks. Continuing education credits were available for participants, showcasing TRHC’s commitment to professional development and healthcare innovation.
Tabula Rasa HealthCare (TRHC) has secured $1.9 million from the National Institutes of Health (NIH) to research drug-induced dementia and enhance Alzheimer's studies in collaboration with Hesperos Inc. The project will utilize TRHC's MedWise technology to quantify risks from adverse drug events (ADEs). Over two years, the research aims to improve medication safety and reduce hospitalizations while providing insights on the connection between medications and cognitive decline.
Tabula Rasa HealthCare (TRHC) announced a partnership with Drake University and Certintell to enhance health outcomes via remote patient monitoring (RPM) and medication management in rural Iowa. Funded by a $1.6 million grant from HRSA, the initiative aims to improve care for adults suffering from uncontrolled diabetes, hypertension, and obesity. TRHC’s MedWise technology will facilitate medication safety reviews, aiming to reduce medication-related issues and hospitalizations. This project underscores TRHC's commitment to innovative telehealth solutions for underserved populations.
Tabula Rasa HealthCare, Inc. (TRHC) announced significant agreements to enhance its Medication Therapy Management (MTM) programs using its proprietary MedWise® technology. This initiative aims to predict high-risk patients for multi-drug interactions, potentially reducing adverse drug events (ADEs) and associated healthcare costs. The application of MedWise® will support traditional Medicare MTM programs and facilitate Medication Safety Reviews™, which aim to improve patient care. TRHC's technology is backed by peer-reviewed studies linking lower MedWise Risk Scores to reduced ADEs and decreased hospitalizations.
Tabula Rasa HealthCare (TRHC) announced an expanded partnership with eHealth to provide a Medicare Plan Review module to its client pharmacies. This collaboration enables pharmacists to assist patients in comparing Medicare plans, ultimately enhancing patient care and pharmacy performance. With over 200 carrier relationships, the eHealth platform offers patients tailored options for their prescription needs, improving access and enrollment processes. The partnership aims to increase community pharmacists' engagement, enhancing healthcare outcomes for Medicare beneficiaries who often do not review their coverage annually.
Tabula Rasa HealthCare, Inc. (TRHC) has announced a new partnership with PACE of Northeast Indiana, enhancing medication safety and pharmacy services for elderly care in Fort Wayne, Indiana. With this agreement, TRHC now collaborates with 100% of PACE organizations in Indiana. The comprehensive services, including medication risk mitigation and claims administration, aim to optimize care while saving administrative time. TRHC's solutions are utilized by over 90% of PACE programs nationwide, reinforcing its position as a leading provider in value-based care for seniors.
Tabula Rasa HealthCare (TRHC) announced Q2 2021 financial results, reporting total revenue of $82.3 million, a 7% increase from last year. Product revenue rose 19% to $46.9 million, while solutions revenue fell 5%. The company experienced record PACE enrollment and significant growth in national account revenue, up 76%. Although GAAP net loss widened to $21.1 million, TRHC expects Q3 revenue to grow 4%-9% sequentially and 22%-28% year-over-year, driven by strong demand in CareVention and MedWise segments.
CareVention HealthCare, a division of Tabula Rasa HealthCare (TRHC), has launched a new Remote Patient Monitoring (RPM) service designed to enhance patient care through continuous monitoring of vital signs. This innovative service leverages biosensors and AI technology to promptly alert healthcare providers about significant patient health changes. The RPM service aims to improve patient outcomes and reduce costly ER visits. CareVention has partnered with Thaïs to utilize their platform for effective monitoring, targeting conditions like hypertension and diabetes.
Tabula Rasa HealthCare (TRHC) has joined a coalition of 37 organizations urging the U.S. Department of Health and Human Services to extend the Center for Medicare & Medicaid Innovation's Enhanced Medication Therapy Management (EMTM) Model, which is set to expire on December 31, 2021. The EMTM Model aims to improve beneficiary outcomes, lower Medicare spending, and reduce medication-related risks. Since its launch in 2017, the initiative has shown promise in enhancing health outcomes and decreasing medical costs for Medicare Part D beneficiaries.
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