Tabula Rasa HealthCare Signs Agreement with Multiple State Pharmacy Associations to Bring Medication Risk Mitigation Technology to Members
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.
- Partnership with eight pharmacy associations to promote MedWise™, enhancing market reach.
- MedWise™ identified as a transformational tool in pharmacy practice, addressing drug interactions effectively.
- Potential for cost reduction in healthcare through improved medication management and patient outcomes.
- None.
MOORESTOWN, N.J., March 10, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc. ("TRHC") (NASDAQ: TRHC), a healthcare technology company advancing the safe use of medications, announces an agreement with eight state pharmacy associations: Missouri, Oregon, Kansas, Kentucky, Maryland, Indiana, Virginia, and North Dakota. Through the agreement, the state associations will disseminate marketing materials to educate members on TRHC's medication safety software, MedWise™, and promote the opportunity to become Certified MedWise Advisors™, expanding the skillset of pharmacists to enhance patient outcomes and reduce overall costs.
State associations promote and protect the role of pharmacists as the medication expert in patient care relationships and as an integral part of the health care team.
"I am thrilled to see that eight state associations have moved forward to endorse MedWise, as I see this tool as a game-changer for pharmacy practice and patient care," said Rebecca Snead, RPh, executive vice president of the National Alliance of State Pharmacy Associations (NASPA). "MedWise's ability to create a simultaneous, multi-drug analysis and identify patients who are at high risk for adverse drug events is transformational. With this information, pharmacists can provide personalized medication management for the patient."
MedWise is a unique software platform offered by TRHC that identifies simultaneous, accumulative, multi-drug interactions to help clinicians improve medication safety, efficacy, and adherence. The technology helps providers optimizes medication regimens by calculating patients' MedWise Risk Scores™ at the point of prescribing. MedWise improves pharmacist workflow by highlighting only scores requiring attention. Risks identified are actionable to improve outcomes and documented to improve medical costs savings.
"TRHC is proud to partner with state pharmacy associations to create awareness about new technologies that help reduce adverse drug event risk," said TRHC President Orsula V. Knowlton, PharmD, MBA. "With MedWise, pharmacists can better engage in value-based care by more efficiently and effectively managing complex medication regimens, optimizing outcomes, and reducing total costs. In addition, pharmacists can offer these services to consumers directly as a concierge/private-pay affinity program that enhances the patient journey and creates several competitive advantages for community pharmacists."
TRHC is seeking to partner with all state associations to build momentum to empower pharmacists across the United States with MedWise technology and help prevent adverse drug events, one of the nation's leading cause of death.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) provides medication safety solutions empowering healthcare professionals to optimize medication regimens and reduce medication-related risk, specifically targeting adverse drug events. Utilizing its proprietary medication decision science technology, MedWise™, TRHC improves patient outcomes, reduces hospitalizations, and lowers healthcare costs. Additionally, TRHC provides an extensive clinical telepharmacy network across the U.S. Its solutions are trusted by health plans and pharmacists nationwide to help drive value-based payment results. For more information, visit TRHC.com.
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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SOURCE Tabula Rasa HealthCare, Inc.
FAQ
What is the purpose of Tabula Rasa HealthCare's partnership with state pharmacy associations?
What is MedWise™ and how does it benefit pharmacists?
How many state pharmacy associations are involved in TRHC's recent agreement?
What are the expected outcomes of using MedWise™ in pharmacy practices?
What is the significance of becoming a Certified MedWise Advisor™?
