Tabula Rasa HealthCare and Evernorth Extend Agreement Expanding Medication Safety, Efficacy, and Adherence Services

Rhea-AI Summary

Tabula Rasa HealthCare (TRHC) has announced a five-year contract renewal with Evernorth, enhancing the use of its Medication Therapy Management (MTM) programs. This agreement builds on a decade-long partnership, with TRHC providing innovative solutions that have achieved over $700 million in cost savings through 9 million medication-related interventions. TRHC will continue to deliver MTM services to millions of Medicare, Medicaid, and commercial members, utilizing its extensive pharmacy network to improve member engagement and satisfaction.

Positive

• Five-year contract renewal with Evernorth enhances TRHC's MTM programs.
• Over $700 million in cost savings attributed to TRHC's interventions.
• Engagement with millions of Medicare Part D and Medicaid members.

Negative

• None.

MOORESTOWN, N.J., Jan. 4, 2022 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, today announced a five-year contract renewal with Evernorth℠, a premier health services business that connects and coordinates innovative and flexible solutions for health plans, employers, and government programs, to expand use of TRHC's Medication Therapy Management (MTM) programs and other clinical services.

Evernorth renews contract and expands use of TRHC's Medication Therapy Management programs and other clinical services

The new agreement expands upon THRC's previous 10 year relationship with Express Scripts PBM, which is part of the Evernorth portfolio.

"We are thrilled to extend our long-term relationship with Evernorth, helping them to advance the safe use of medication among their customers," said TRHC Chairman and CEO, Calvin H. Knowlton, PhD. "Through real-time, targeted medication reviews we've enabled more than 9 million medication-related interventions, delivering safer use of medication and cost-savings of over $700 million. We are confident that our significant experience with enhanced medication therapy management programs will result in a stronger and more valuable MTM program for Evernorth in the years to come." 

"For more than a decade, Tabula Rasa has consistently provided outstanding innovation and value for our clients," said Kelcey Blair, PharmD, vice president, Express Scripts PBM. "By expanding our collaboration, we can deliver even greater health outcomes through member engagement strategies and clinical programs."

TRHC's technology can identify medication risk for individual patients or across patient populations by combining patient-specific, clinical and pharmacology data to identify which patients or populations are at high risk for Adverse Drug Events and require more immediate medication management attention.

Under the new agreement, Evernorth will continue to deliver TRHC's robust MTM services to millions of Medicare Part D, Medicaid, and commercial health plan members. Additionally, TRHC will provide Evernorth and Express Scripts PBM with expanded face-to-face and digital models to improve member engagement and satisfaction through the addition of TRHC's network of more than 18,000 pharmacies.

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.

 

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SOURCE Tabula Rasa HealthCare, Inc.

FAQ

What is the significance of Tabula Rasa HealthCare's recent contract renewal with Evernorth?

The contract renewal allows TRHC to expand its Medication Therapy Management services, enhancing medication safety for millions of members.

How much cost savings has TRHC achieved through its MTM programs?

TRHC has delivered over $700 million in cost savings through more than 9 million medication-related interventions.

How many members will benefit from TRHC's services under the new agreement with Evernorth?

Millions of Medicare Part D, Medicaid, and commercial health plan members will benefit from TRHC's expanded MTM services.

What technology does TRHC use to improve medication management?

TRHC combines patient-specific, clinical, and pharmacology data to identify patients at high risk for Adverse Drug Events.