Tabula Rasa HealthCare, Inc. - TRHC STOCK NEWS

Tabula Rasa HealthCare (TRHC) has expanded its COVID-19 services for pharmacies, enhancing patient engagement solutions to support vaccine administration. With the launch of contact-free vaccination management through its PrescribeWellness platform, pharmacies can streamline vaccine intake and scheduling. The Federal Retail Pharmacy Program now includes community pharmacists as key vaccine providers, necessitating TRHC's continued support. TRHC's tele-pharmacy services, staffed by over 800 professionals, ensure vaccine education and appointment management while adhering to strict privacy regulations.

Tabula Rasa HealthCare, Inc. (TRHC) has partnered with athenahealth to integrate its MedWise® technology into the athenahealth Marketplace. This technology enhances medication safety by identifying multi-drug interactions, improving treatment adherence, and ultimately lowering healthcare costs. The MedWise Risk Score will now be accessible to healthcare providers at the point of prescribing, aiding in risk management and medication optimization. This partnership aims to enhance medication outcomes and reduce total medical spending across athenahealth's extensive provider network.

Tabula Rasa HealthCare (TRHC) announces a new study published in the Journal of Patient Safety, demonstrating that higher Medication Risk Scores (MRS) correlate with increased mortality risks. Conducted using EHR data from over 427,000 patients, the study highlights the MedWise Risk Score as a significant predictor of adverse drug events (ADEs). This innovative model emphasizes the need for clinical pharmacy interventions for patients with elevated MRS, particularly those aged 30-49 with MRS ≥20, to enhance medication safety and reduce hospitalizations.

Tabula Rasa HealthCare (TRHC) has partnered with Infectious Disease Connect to integrate its precision dosing solution, DoseMeRx, into ID Connect's software, ILÚM Insight. This collaboration aims to provide real-time access to personalized dosing for antimicrobials, enhancing patient safety and optimizing pharmacy workflows. TRHC's technology supports healthcare providers in individualizing medication dosing, ultimately improving patient outcomes and reducing clinician workload. The partnership aligns with both companies' missions to enhance healthcare delivery.

Tabula Rasa HealthCare (TRHC) supports New Jersey legislation to create a medication risk reduction model for the state's Medicaid program. CEO Calvin Knowlton highlighted that this model aligns with TRHC's Enhanced Medication Therapy Management (EMTM) approach, aiming to minimize adverse drug events (ADEs). The legislation, unanimously approved by both the NJ Senate and Assembly Human Services Committee, is backed by Governor Phil Murphy. TRHC's MedWise technology has demonstrated effectiveness in reducing ADEs and associated healthcare costs, reflecting the company's commitment to improving medication safety.

On March 10, 2021, Tabula Rasa HealthCare (NASDAQ: TRHC) announced a partnership with eight state pharmacy associations to promote its medication safety software, MedWise™. This initiative aims to educate pharmacists on enhancing patient outcomes and reducing costs by becoming Certified MedWise Advisors™. MedWise helps identify multi-drug interactions and improve medication management, contributing to safer healthcare practices. TRHC's software is positioned as a significant advancement in pharmacy care, with plans to expand its reach across the U.S.

Tabula Rasa HealthCare (TRHC) announced significant milestones in March 2021, achieving its highest-ever PACE census enrollment and a record net enrollment month. This rebound follows a COVID-19-related decline from spring 2020, boosted by vaccination efforts. The company also implemented new pharmacy clients and expanded services for existing ones, contributing to future revenue growth. Currently, 28 new PACE centers are contracted to open, projected to generate about $50 million in annual revenue at full capacity.

Tabula Rasa HealthCare (TRHC) reported its 2020 financial results, showing a total revenue of $297.2 million, up 4% from 2019, driven by product revenue growth of 16%. While fourth-quarter revenue exceeded guidance at $77.1 million, Adjusted EBITDA declined to $21.8 million, impacted by core expenses and a net loss of $81 million for the year. Looking ahead, TRHC expects revenue growth of 13%-20% in 2021, driven by new contracts and recovering PACE census growth, despite ongoing challenges from COVID-19.