MOORESTOWN, NJ, Feb. 22, 2018 (GLOBE NEWSWIRE) — Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ:TRHC) Chairman and CEO Calvin H. Knowlton, PhD, spoke at Independence Blue Cross (IBC) Innovation Day 2018 at the invitation of IBC Corporate Development and Innovation. The interaction between the speakers, providers, payors and large employer groups was expected to drive the value of the day spent together. It was an opportunity for attendees to better understand the leading innovation and trends in the healthcare industry.
Knowlton’s presentation focused on TRHC’s care coordination and readmission risk programs as well as TRHC’s Optimized Opioid Solutions™ initiative. TRHC is a healthcare technology company optimizing medication safety by deploying novel, proprietary medication risk mitigation solutions and decision-support tools.
During the presentation, Dr. Knowlton shared results from two health plans in 2017, which are still ongoing. The health plans, both with capitated payment models, implemented TRHC’s Medication Risk Mitigation® technology and services to reduce hospital readmissions. “For hospitalized individuals, it’s clear that post-discharge medication misadventuring is a significant problem,” said Knowlton. “For those two health plan clients, we reduced hospitalization readmission rates 30% and 50%. The combined number of patients between the plans was just under 2,000. Our clients were pleased to have realized those results in such a short time frame following the start of services.”
Knowlton also described two of TRHC’s opioid safety initiatives. One included more than 200,000 seniors while the other had 50,000 members from a younger, commercial population. Resulting data indicated that half of the older population and 20% of the commercial population were on opioid medications for chronic pain while also taking at least one other medication that reduced the analgesic effect of those opioids. “Multi-drug interactions with opioids put people at risk for adverse drug events including inappropriate pain management. Patients with such multi-drug interactions were found to be on higher doses of opiates compared to those without interacting medications, and the plans experienced higher medical costs for these patients. Our system for identifying at-risk individuals through risk stratification and intervening with targeted medication safety review helps engage consumers and educate prescribers about this largely unknown problem with opioid pain management.”
Innovation Day was held February 21st at IBC’s headquarters in Philadelphia, PA. Twenty companies presented throughout the day. Topics ranged from employee benefits for health and productivity to pharmacy management and medication adherence to social determinants and care coordination.
About Tabula Rasa HealthCare
TRHC (NASDAQ:TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable health care 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.
This press release includes forward-looking statements that we believe to be reasonable as of today’s date including statements regarding risk stratification under the new scope of work. 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 14, 2017, 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 http://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.
Bob East or Asher Dewhurst