TRHC's CareKinesis Celebrates 10 Years Serving PACE Market
MOORESTOWN, N.J., March 24, 2021 /PRNewswire/ -- CareKinesis, a service line within the CareVention HealthCare Division of Tabula Rasa HealthCare (NASDAQ:TRHC), a technology company advancing safe use of medication, is celebrating its ten-year anniversary of partnering with federal Programs of All-Inclusive Care for the Elderly (PACE), known in some states as Living Independently for the Elderly (LIFE). CareKinesis is the first national PACE-centric, medication management and distribution pharmacy that focuses on reducing medication-related risk while enhancing economic, clinical, and humanistic outcomes.
Founded in 2009 by TRHC Chairman and CEO, Calvin H. Knowlton, PhD, and President Orsula V. Knowlton, PharmD, CareKinesis in 2011 initiated service to its first PACE clients, LIFE St. Francis and Trinity Health LIFE (formerly LIFE at Lourdes) in New Jersey. This early relationship has led to a national partnership with Trinity Health PACE at 20 centers in nine states.
The year-long anniversary celebration will highlight CareKinesis' history with these and other clients and will include activities aligned with Patient Safety Awareness Week in March to a special event coinciding with the National PACE Association's (NPA) annual conference in October.
"While much has changed over the last ten years, our steadfast commitment to our PACE partners grows stronger every day," said Dr. Calvin Knowlton. "LIFE St. Francis and Trinity Health LIFE are excellent examples of extraordinary care for our most vulnerable citizens. PACE focuses on outcomes and aligned incentives, which makes PACE an ideal setting for our innovative approaches to patient care."
Dr. Orsula Knowlton stated, "Our early partnership with these two vanguard organizations helped us refine our service model, advance numerous unique offerings, and support the seamless collaborative workflow that meets the ever-changing needs of PACE. Our relationships with LIFE St. Francis and Trinity Health LIFE have significantly impacted our advancement and, for that, we are deeply grateful."
Lisa Zavorski, Executive Director of LIFE St. Francis, is pleased with her organization's long-term partnership with CareKinesis. "CareKinesis always has been an innovative and professional organization," she said. "Unlike a lot of pharmacies, they have developed a focus on PACE. They have always been invested in providing the highest quality services to our PACE program." As a subsidiary corporation of St. Francis Medical Center and the first PACE center in the state of New Jersey, LIFE St. Francis provides medical and social services, transportation, and more to 295 participants in Mercer County and parts of northern Burlington County.
Life St. Francis' Medical Director Rachel Liebman, DO, appreciates CareKinesis' continuous support. "The collaboration has been the most impressive aspect of the relationship for me. From our account manager to clinical pharmacists, our questions are answered."
Trinity Health LIFE also is celebrating a decade-long partnership with CareKinesis. Trinity Health LIFE provides health, wellness, personal care, nutritional, and therapeutic services to over 200 seniors in Camden County. Sister Marge Sullivan, Executive Director, is "extremely satisfied with the partnership." Sister Marge explained, "The relationship with CareKinesis always has been personal, and they work hard to keep it that way. There is a sense that CareKinesis is continuously doing one more thing to try to improve the care."
In addition to celebrating ten years of excellence with CareKinesis, THRC recently announced an all-time high for the company's monthly PACE census enrollment in March 2021 for medication risk management and pharmacy fulfillment services.
At the end of 2020, nearly 45,000 (eight out of ten) PACE participants across the country were utilizing at least one of TRHC's five core services. Despite the significant challenges posed by the pandemic, nationwide PACE enrollment has continued to grow on a year-over-year basis according to CMS data, and PACE program growth is poised to further accelerate in the years ahead. An initiative launched by the National PACE Association, PACE 2.0, aims to bring the model to more communities and populations by providing support and plans for PACE organizations.
"TRHC remains focused on increasing the adoption of its solutions across the 55,000 PACE participants enrolled at the end of 2020, as well as preparing for the Program's continued growth," stated Dr. Orsula Knowlton.
About PACE
Living Independence for the Elderly (LIFE) is a managed care program that provides a comprehensive, all-inclusive package of medical and supportive services. The program is known nationally as the Program of All-Inclusive Care for the Elderly (PACE).
PACE organizations serve individuals who are age 55 or older, certified by their state to need nursing home care, able to live safely in the community at the time of enrollment, and live in a PACE service area. If a PACE enrollee needs nursing home care, the PACE program pays for it and continues to coordinate the enrollee's care. There are 138 PACE programs in 30 states serving 55,000 participants.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) provides medication safety solutions empowering pharmacists and prescribers 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. Our solutions are trusted by health plans and pharmacies 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 February 26, 2021, 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.
