TRHC’s CareVention HealthCare Partners with Golden Valley Health Centers to Provide Multiple Services to new Central Valley PACE program

Rhea-AI Summary

Tabula Rasa HealthCare (TRHC) has contracted with Golden Valley Health Centers to deliver PACE technology for their new center, Central Valley PACE, in California. This partnership will support comprehensive services for elderly participants, starting September 1, 2020. TRHC’s CareVention HealthCare will provide medication safety, pharmacy services, and regulatory compliance support. Currently, TRHC serves nearly 1,900 participants across California. The PACE program is projected to expand significantly, with TRHC aiming to enhance health outcomes and financial management for PACE organizations.

Positive

• Contract with Golden Valley Health Centers enhances market presence.
• Expansion into Central Valley PACE aligns with growing demand for PACE services.
• TRHC supports nearly 1,900 participants, indicating robust operational capability.
• Projected growth of PACE to 200,000 participants by 2028 presents significant market opportunity.

Negative

• None.

MOORESTOWN, N.J., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Tabula Rasa HealthCare, Inc® (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced it has contracted with Golden Valley Health Centers to provide CareVention HealthCare PACE technology and services for Golden Valley’s newest center and entrée into the PACE market. Named Central Valley PACE, the new center is located in Modesto, California. It will begin enrolling participants September 1, 2020. 

The Program of All-inclusive Care for the Elderly (PACE) is a federal program providing comprehensive medical and social services to individuals 55 and older who are nursing-home eligible. The goal of PACE is to keep participants living in their own communities and to provide quality comprehensive care.

TRHC’s CareVention HealthCare supports PACE organizations at all stages, from exploring PACE at the state and organizational levels, through start-up and ongoing operations.

“We are pleased to partner with Golden Valley Health Centers to provide Central Valley PACE with our extensive experience and services to PACE organizations,” said TRHC President Orsula V. Knowlton, PharmD. “Through our CareKinesis solution, we will provide medication safety and fulfillment services, MedWise™ technology, and pharmacy services. We also will provide electronic health record, risk-adjustment and coding, third-party administrative services, and our 340B program services.”

TRHC currently supports PACE organizations throughout the state, serving nearly 1900 participants.

“We support the PACE community with solutions that enhance humanistic, clinical, and economic outcomes for PACE organizations and their participants,” said CareVention Chief Client Officer for PACE, Michael J. Ristagno, PharmD. “For both new and fully-operational PACE organizations, TRHC’s CareVention provides integrated, end-to-end services to exceed client expectations for participant health and safety, organizational financial management, and regulatory compliance requirements.”

“Tabula Rasa HealthCare, and especially its CareKinesis solutions, have been a wonderful partner to work with while starting up Central Valley PACE,” said Golden Valley Health Centers’ Director of Senior Health Services Jason West. “We are very excited about having the opportunity to work with such great people and such a great product.”

Currently, 131 PACE organizations operate 264 PACE centers in 31 states, serving nearly 54,000 participants – a 6% increase in the last twelve months. PACE is estimated to grow to 200,000 participants by 2028. TRHC, through its CareVention HealthCare solution, serves more than 32,000 participants, with at least one of its core services including medication safety. 

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 CareVention HealthCare
CareVention HealthCare offers comprehensive, integrated solutions and services for value-based care organizations at every stage of PACE (Programs of All-inclusive Care for the Elderly), from exploring PACE at the state and organizational levels, through start-up and ongoing operations. Integrated end-to-end services assure regulatory compliance, participant health and safety, efficient workflows and optimized financial management. Medication management and pharmacy distribution services are offered in conjunction with TRHC’s CareKinesis® division. For more information, visit PACEperfect.com.

About Golden Valley Health Centers:
Golden Valley Health Centers (GVHC) is a private, non-profit federally qualified health center system that has served California’s Central Valley for over 48 years. GVHC is accredited by The Joint Commission and recognized as a Patient Centered Medical Home by the National Committee for Quality Assurance. GVHC provides comprehensive primary medical, dental, behavioral health, health education and eligibility screening to a diverse population across Merced, Stanislaus, and San Joaquin Counties. GVHC currently has over 42 health centers and counting. GVHC’s mission is to improve the health of their patients by providing quality, primary health care services to people in the communities they serve regardless of language, financial or cultural barriers.
      
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.

TRHC Media Contact
Dianne Semingson
dsemingson@trhc.com
T: (215) 870-0829

Amanda Bednar
abednar@trhc.com
T: (856) 912-5714

TRHC Investor Contact
Frank Sparacino
fsparacino@trhc.com
T: (866) 648-2767

FAQ

What is the significance of TRHC's contract with Golden Valley Health Centers?

The contract allows TRHC to expand its PACE services, enhancing its market reach and service offerings.

When will Central Valley PACE begin enrolling participants?

Enrollment for Central Valley PACE will start on September 1, 2020.

How many participants does TRHC currently support?

TRHC currently supports nearly 1,900 participants across California.

What services will TRHC provide to Central Valley PACE?

TRHC will offer medication safety, pharmacy services, electronic health records, and regulatory compliance support.

How is PACE projected to grow in the future?

PACE is expected to grow to 200,000 participants by 2028, indicating significant market expansion.