Tabula Rasa HealthCare and Innovative Integrated Health Community Plans, Inc. Collaborate to Build Medicare Advantage Program

Rhea-AI Summary

Tabula Rasa HealthCare (TRHC) has partnered with Innovative Integrated Health Community Plans (IIHCP) to offer pharmacy benefit services aimed at enhancing Medicare Advantage (MA) programs in California's Fresno, Kern, and Tulare counties. This collaboration aims to assist IIHCP in achieving network adequacy as defined by CMS. Leveraging TRHC's expertise and nationwide pharmacy network, the partnership promises tailored solutions to improve patient care and optimize medication performance.

Positive

• Strategic partnership with IIHCP enhances TRHC's service offerings in the Medicare Advantage space.
• Access to a network of over 64,000 pharmacies through TRHC's acquisition of PharmaStar.
• Commitment to improving patient outcomes and reducing healthcare costs through tailored pharmacy benefit services.

Negative

• None.

MOORESTOWN, N.J., Jan. 11, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc. "TRHC" (NASDAQ:TRHC), a healthcare technology company advancing safer use of medications, today announced it has entered into an agreement with Innovative Integrated Health Community Plans, Inc. (IIHCP) to provide an array of at-risk provider health plan services, including pharmacy benefit services, in support of IIHCP's Medicare Advantage (MA) program. IIHCP provides healthcare services as a Medicare Advantage Plan.

TRHC provides MA clients with a tailored approach to pharmacy benefit services, including medication risk management.

TRHC will provide Provider Network development assistance for IIHCP in the California counties of Fresno, Kern and Tulare. Services will be specially tailored to meet the needs of MA organizations, including pharmacy benefit services; customized pharmacy network solutions including Part D processing, reporting, implementation, and development; and clinic support. The ultimate goal is to build Medicare networks that meet or exceed the Centers for Medicare & Medicaid Services' (CMS) network adequacy requirements.  

"IIHCP has contracted with TRHC for the purpose of delegating to it certain pharmacy benefit and related services in support of our MA program," said IIHCP CFO Daniel Longoria. "TRHC understands the unique, complex challenges faced by MA programs and will play an integral role in IIHCP's new venture."

TRHC's pharmacy benefit services, through its recent acquisition of PharmaStar, have focused on providing full-service pharmacy benefits for over 20 years. Clients are able to take advantage of customized pharmacy solutions, as well as a national network of over 64,000 pharmacies. Focused on providing personable and unparalleled service, TRHC provides clients with a tailored approach to pharmacy benefit services, including medication risk management.  

"We are delighted by the opportunity to collaborate with IIHCP," said TRHC Chairman and CEO Calvin H. Knowlton, PhD.  "We are uniquely able to deliver comprehensive Medicare Advantage program support for new and existing organizations through our pharmacy benefit services, TPA services, credentialing, and utilization management. TRHC's expertise enables MA organizations to focus on delivering care to program members, instead of focusing on the technicalities of a health plan."

TRHC offers a full suite of health plan management and back-office services that maximize efficiencies, fulfill regulatory requirements, assure accurate reimbursement, reduce adverse drug event risk and reduce total costs.

About Tabula Rasa HealthCare

Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC), is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication performance. TRHC improves patient outcomes, reduces hospitalizations, lowers healthcare costs and manages risk. TRHC and its subsidiaries provide solutions for a range of payers, providers and other healthcare organizations. Healthcare organizations nationwide rely on TRHC to improve lives through expert, certified, clinical pharmacist consultation services, safety-focused medication risk management software, Medicare risk adjustment services, and more.

About Innovative Integrated Health Community Plans, Inc.

Innovative Integrated Health Community Plans, Inc. (IIHCP), is a newly formed entity focused on building a comprehensive Medicare Advantage offering for the communities of the Central Valley in California. IIHCP's sole shareholder, Innovative Integrated Health, Inc., has a longstanding commitment to the Central Valley, having operated PACE Organizations in the area for 6 years and serving thousands of Central Valley residents. IIHCP will build on the work done by IIH to expand the delivery of care to more Central Valley Californians with the goal of improving health outcomes and quality of life among the served population.

View original content to download multimedia:http://www.prnewswire.com/news-releases/tabula-rasa-healthcare-and-innovative-integrated-health-community-plans-inc-collaborate-to-build-medicare-advantage-program-301205198.html

SOURCE Tabula Rasa HealthCare

FAQ

What is the partnership between TRHC and IIHCP about?

The partnership focuses on providing pharmacy benefit services to enhance Medicare Advantage programs in California.

When did TRHC announce the collaboration with IIHCP?

The collaboration was announced on January 11, 2021.

What counties in California will TRHC provide services to?

TRHC will provide services in Fresno, Kern, and Tulare counties.

What benefits does TRHC’s pharmacy service offer to IIHCP?

TRHC's services aim to improve patient care and meet CMS's network adequacy requirements.

What is the stock symbol for Tabula Rasa HealthCare?

The stock symbol for Tabula Rasa HealthCare is TRHC.