TRHC Continues to Experience PACE Growth
Tabula Rasa HealthCare (TRHC) reported growth in its PACE (Program of All-Inclusive Care for the Elderly) segment during the 2nd and 3rd quarters of 2021. The company welcomed 11 new PACE organizations and renewed 8 contracts, averaging 3.5 years with no attrition. No regulatory issues hinder growth, and TRHC anticipates launching 8 additional PACE programs in Q4. Their technology addresses medication safety, aiming to reduce adverse drug events, and supports value-based care.
- 11 new PACE organizations started in 2nd and 3rd quarters of 2021.
- 8 PACE contract renewals with an average term of 3.5 years.
- No attrition in existing PACE programs.
- 8 new PACE programs set to launch in Q4.
- None.
MOORESTOWN, N.J., Oct. 1, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, announced today that in the 2nd and 3rd quarters of 2021, TRHC had 11 new PACE (Program of All-Inclusive Care for the Elderly) organizations start. In the same timeframe, the Company had eight PACE contract renewals, with an average term of 3.5 years and no PACE program attrition. There are no client regulatory issues that will impact the growth of PACE for TRHC.
Looking toward the 4th quarter, the Company has eight PACE programs set to launch with at least one TRHC service. New service offerings enhancing efficiency and value will continue to fuel the growth of TRHC in the PACE market.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) (NASDAQ: 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.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give current expectations or forecasts of future events or the Company's future financial or operating performance, and include the Company's expectations regarding healthcare regulations, industry trends, available opportunities to the Company, the financial and operating performance of the Company, the impacts of the COVID-19 pandemic, and the Company's expectations for 2021 and beyond. 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 good-faith expectations, judgements, and assumptions as of the date of this Report. 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 impacts of the ongoing COVID-19 pandemic and other health epidemics; fluctuations in the Company's financial results; the acceptance and use of the Company's products and services by PACE organizations; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable governmental regulations; the Company's ability to maintain relationships with a specified drug wholesaler; increasing consolidation in the healthcare industry; managing the Company's growth effectively; the Company's ability to adequately protect its intellectual property; the requirements of being a public company; the Company's ability to recognize the expected benefits from acquisitions on a timely basis or at all; and the other risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including those factors discussed under the caption "Risk Factors" in its most recent annual report on Annual Report on Form 10-K, filed with the SEC on February 26, 2021, and in subsequent reports filed with or furnished to the SEC. The Company 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 new developments did TRHC announce in October 2021?
How many PACE programs is TRHC launching in the fourth quarter?
What is the average term of contracts renewed by TRHC in 2021?
Is TRHC facing any regulatory issues with its PACE programs?
