Tabula Rasa HealthCare to Provide Innovative Medication Risk Mitigation Technology to National Primary Care Network MDVIP

Rhea-AI Summary

Tabula Rasa HealthCare (NASDAQ: TRHC) has expanded its partnership with MDVIP to integrate its MedWise™ Comprehensive Medication Management (CMM) Program into MDVIP Plus practices. This collaboration aims to enhance medication safety through the calculation of MedWise Risk Scores, addressing dangerous drug interactions that often lead to hospitalizations. Notably, a 2-point decrease in MRS corresponds to substantial cost savings. The integration includes a consumer-facing app, MedWise Mobile, to help patients track their medication management more effectively.

Positive

• Expansion of partnership with MDVIP enhances service offerings.
• Incorporation of MedWise technology reduces medication-related risks.
• Potential for significant cost savings for patients and healthcare systems.

Negative

• None.

MOORESTOWN, N.J., Feb. 22, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc. ("TRHC") (NASDAQ: TRHC), a healthcare technology company advancing safe use of medication, today announced it has entered into an agreement expanding its existing relationship with the national primary care network, MDVIP to provide TRHC's MedWise™ Comprehensive Medication Management ("CMM") Program to MDVIP Plus practices. MDVIP Plus practices offer patients an enhanced program incorporating more advanced cognitive screening, cardiovascular disease prevention and personal medication management.

MedWise™ will assist MDVIP Plus physicians to optimize medication regimens by calculating patients' risk score.

Medication problems caused by dangerous drug interactions are a major cause of hospitalization and death in the U. S. TRHC's MedWise technology identifies patients' risk for multi-drug interactions before they occur, helping physicians make safer prescribing choices.

"The MedWise CMM Program will assist MDVIP Plus physicians to optimize medication regimens by calculating patients' MedWise Risk Scores™ (MRS) at multiple points of care," said TRHC Chairman and CEO Calvin H. Knowlton, PhD. "We see the best outcomes when MedWise is used prospectively, at the point of prescribing, to identify medication risks that are actionable. Preventing and mitigating these risks improves outcomes, lowers medical costs, and promotes safer use of medications for people everywhere."  

The odds of an adverse drug event increase by as much as 8.6 percent per unit of MedWise Risk Score. On average, MDVIP patients see a 2-point decrease in MRS when completing a medication safety review, which includes recommendations such as change or discontinuation of a medication and modifying time of medication administration. Each MRS unit corresponds to roughly $1,037 in medical costs, three emergency room visits, and two hospitalizations per 100/member/year.

"We are pleased to make available to our Plus practices TRHC's MedWise Comprehensive Medication Management Program," said MDVIP Chief Medical Officer Andrea Klemes. "MedWise provides our Plus physicians the latest pharmacological science and technology that can help quickly identify patient risk, enable them to conduct more thorough reviews of patient medications and easily adjust care to optimize health and safety."

MDVIP is also exploring opportunities to bring the MedWise CMM Program to additional MDVIP- affiliated practices that are not part of the Plus program. TRHC's consumer-facing smart phone app, MedWise Mobile, will be made available to MDVIP affiliates as part of the agreement. The app allows patients or caregivers to better understand and manage medication regimens.

Source: Bankes, D.L.; Jin, H.; Finnel, S.; Michaud, V.; Knowlton, C.H.; Turgeon, J.; Stein, A. Association of a Novel Medication Risk Score with Adverse Drug Events and Other Pertinent Outcomes Among Participants of the Programs of All-Inclusive Care for the Elderly. Pharmacy 2020, 8, 87.

About Tabula Rasa HealthCare
Tabula Rasa HealthCare (NASDAQ: TRHC) provides medication safety solutions that empower healthcare professionals to optimize medication regimens and reduce medication-related risk, specifically targeting adverse drug events. TRHC's technology solutions, including DoseMeRx™ and 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 payment results. For more information, visitTRHC.com.

About MDVIP
MDVIP leads the market in membership-based healthcare that goes far beyond concierge medicine services with a national network of more than 1,100 primary care physicians and over 350,000 patients focused on prevention and personalized healthcare. Learn more about MDVIP at www.mdvip.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.

View original content:http://www.prnewswire.com/news-releases/tabula-rasa-healthcare-to-provide-innovative-medication-risk-mitigation-technology-to-national-primary-care-network-mdvip-301232303.html

SOURCE Tabula Rasa HealthCare, Inc.

FAQ

What is the recent agreement between Tabula Rasa HealthCare and MDVIP?

Tabula Rasa HealthCare has expanded its partnership with MDVIP, integrating its MedWise Comprehensive Medication Management Program into MDVIP Plus practices.

How does MedWise Technology improve medication management?

MedWise Technology calculates MedWise Risk Scores to identify and mitigate risks of dangerous drug interactions, enhancing patient safety.

What benefits does the MedWise CMM Program offer to MDVIP patients?

The MedWise CMM Program helps optimize medication regimens, leading to reduced healthcare costs and improved patient outcomes.

What features does the MedWise Mobile app provide?

The MedWise Mobile app helps patients and caregivers manage medication regimens effectively.

How does TRHC's MedWise impact healthcare costs?

On average, each unit decrease in MedWise Risk Score corresponds to approximately $1,037 in medical costs per 100 members per year.