Tabula Rasa HealthCare Launches MedWise™ SaaS Technology Integration for Community Pharmacists

Rhea-AI Summary

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.

Positive

• Launch of MedWise technology enhances medication safety for pharmacies.
• MedWise allows simultaneous evaluation of multi-drug interactions, reducing the risk of ADEs.
• Integration with PrescribeWellness software offers real-time risk assessment capabilities.
• Studies indicate reduced MedWise Risk Scores correlate with lower medical costs and hospitalizations.

Negative

• None.

MOORESTOWN, N.J., July 15, 2020 (GLOBE NEWSWIRE) -- Tabula Rasa HealthCare, Inc^® (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced the launch of MedWise™ to its PrescribeWellness^® (PW) community pharmacy network.  Compared to the current technology of one-to-one drug interaction checking that has existed for decades in electronic health records and pharmacy software, MedWise, for use by pharmacists, is the only technology that cumulatively compares how medications interact together, all at the same time.

“If a person takes seven or more medications, which is common among the elderly, the chance of experiencing an adverse drug event (ADE) is 82%,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “The best way to minimize harm from ADEs is through prevention. By using MedWise, pharmacists can now help prevent ADEs and provide better patient care by identifying exactly how medication regimens put patients at risk.”

Available within TRHC’s PrescribeWellness patient engagement software, MedWise includes the unique MedWise Risk Score™ (MRS) calculation along with a new feature known as MedWise Decision Support (MDS).  MDS simulates changes to the risk score in real-time, helping pharmacists to assess simultaneous, accumulative, multi-drug interactions amongst complex medication regimens in an efficient manner and avoid ADEs.  ADEs are largely considered preventable and are the third leading cause of death.  

“Through MedWise, we're helping to provide significantly enhanced clinical services and improved outcomes for our patients,” said PrescribeWellness client Cheri Schmit, R.Ph., Director of Clinical Pharmacy, Medicap Pharmacy in West Des Moines, Iowa.   

“Community pharmacists have at their disposal an unprecedented opportunity for risk mitigation and clinical intervention utilizing MedWise, available within the PrescribeWellness software," said TRHC EVP of PW, Farah Madhat, PharmD, MA. "The MedWise platform has revolutionized how pharmacists develop clinical interventions to prevent ADEs and improve patient safety.  This is particularly helpful considering the multi-drug interactions that occur with medications that are being used to treat COVID-19.  MedWise has led to improved quality, enhanced patient loyalty, retention, and medical costs savings, all of which are critical outcomes for our clients.”

While client-reported data has existed for years, recently published studies found that reduction in the MRS is associated with lower medical costs, fewer adverse drug events, emergency department visits, and hospitalizations.

About Tabula Rasa HealthCare
TRHC (NASDAQ:TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. TRHC provides solutions for a range of payers, providers and other healthcare organizations. For more information, visit TRHC.com.

About PrescribeWellness
TRHC’s PrescribeWellness solution is a leading cloud-based patient relationship management technology that facilitates collaboration between more than 10,000 pharmacies, payers, providers, pharmaceutical companies and their patients for better health. Visit https://www.prescribewellness.com/ or https://www.tabularasahealthcare.com/our-solutions/technology-products/.

Forward-Looking Statements
This press release includes forward-looking statements that we believe to be reasonable as of today’s date, including statements regarding Medication Risk Mitigation technology.  Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions.  These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release.  Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; and the other risk factors set forth from time to time in our filings with the SEC,  including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on March 2, 2020, and in subsequent reports filed with or furnished to the SEC, copies of which are available free of charge within the Investor Relations section of the TRHC website ir.trhc.com or upon request from our Investor Relations Department. Any forward-looking statement speaks only as of the date on which it was made. TRHC assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.

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TRHC Media Contact Dianne Semingson dsemingson@trhc.com T: (215) 870-0829	TRHC Investor Contact Frank Sparacino fsparacino@trhc.com  T: (866) 648-2767
Amanda Bednar abednar@trhc.com T: (856) 912-5714

FAQ

What is MedWise launched by Tabula Rasa HealthCare (TRHC)?

MedWise is a medication safety technology that allows pharmacists to assess multiple drug interactions simultaneously to prevent adverse drug events.

How does MedWise improve patient safety?

MedWise minimizes the risk of adverse drug events by enabling pharmacists to evaluate complex medication regimens in real-time.

What are the benefits of using MedWise in pharmacies?

Using MedWise can lead to improved patient outcomes, enhanced clinical services, and reduced healthcare costs.

What is the MedWise Risk Score (MRS)?

The MedWise Risk Score is a calculation that helps identify the risk level of a patient's medication regimen, aiding pharmacists in intervention strategies.

How does MedWise relate to healthcare costs?

Studies show that lower MedWise Risk Scores are associated with reduced medical costs, fewer hospitalizations, and lower emergency department visits.