Moorestown, NJ (April 30, 2018) – CareKinesis, a subsidiary of Tabula Rasa HealthCare (NASDAQ:TRHC), a healthcare technology company advancing the field of medication safety, recently signed an agreement with SpiriTrust Lutheran LIFE (Living Independence for the Elderly) to provide personalized medication safety, proprietary technology, and pharmacy adherence packaging that uses science to predict and avoid multi-drug interactions for SpiriTrust’s participants.
LIFE is a Medicare and Medicaid program known in many states as PACE, Program of All-inclusive Care for the Elderly. The goal of PACE is to ‘help older adults live in the community as independently as possible for as long as possible.’ PACE participants report, relative to a comparison group, that they have better self-rated health status; better preventive care; fewer unmet needs; less pain interfering with normal daily functioning; less likely to be depressed; and better management of health overall. An economic analysis of PACE indicated that for every 100 participants served by PACE, the state evaluating the data saved $103,587 per month, or $1.23 million per year.
SpiriTrust Lutheran currently has LIFE Centers located in Chambersburg and Enola, Pennsylvania, serving qualified seniors in Cumberland County, Perry Country and Franklin County.
“We are pleased to be chosen by SpiriTrust Lutheran LIFE to be its medication safety and pharmacy services partner,” said Orsula V. Knowlton, PharmD, and President of TRHC. “Together, we look forward to collaborating toward medication safety, using our proprietary, scientific approach to reducing medication-related risk and improving participant outcomes for SpiriTrust participants.”
LIFE/PACE organizations nationwide rely on TRHC’s technology, science, and pharmacists who are board certified in geriatrics to predict preventable adverse drug events and reduce emergency department visits, hospitalizations, and hospital readmissions.
“I can tell you that our clinicians and providers are happy,” said SpiriTrust Director Nina DelGrande, BSN, MHA, NE-BC, when asked how the partnership was working.
“They report having less steps in the process allowing less room for error. The quality enhancements we are getting are extremely helpful. Our Quality Committee was impressed with the data already in the first month. It is nice to see a report that is both comprehensive and easy to understand.”
TRHC and SpiriTrust launched their partnership March 12, 2018.
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 14, 2018, 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.