- Address: St. Louis, MO 63119, United States
Tabula Rasa HealthCare Continues its Growth Trajectory by Expanding Integrated Services in PACE
Subsidiary companies now assisting all aspects of PACE health plan management
MOORESTOWN, N.J., April 18, 2019 – Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ: TRHC), a leading provider of technology-enabled solutions to mitigate medication risk and improve health plan operations has rapidly expanded its services to Programs of All-inclusive Care for the Elderly (PACE).
Since January 2019, Peak Health Plan Management Services, TRHC’s division of Capstone Performance Systems (Peak), has added four new PACE clients. Other new PEAK clients include an established PACE organization in Massachusetts, two start-up organizations in California and Arkansas, and a large PACE organization in Colorado, with a total estimated new census for Peak of over 1,000 participants. While these are new customer relationships for Peak, they represent expansion of existing relationships for TRHC and a strong signal that cross selling has accelerated as a result of the launch of CareVention HealthCare. Today, Peak serves nearly 40% of PACE organizations nationally.
Peak assists all aspects of PACE health plan management. With decades of experience, Peak provides PACE Organizations with comprehensive services that would otherwise be cost prohibitive for PACE. Using Peak helps PACE Medicare Advantage plans avoid the common challenges of staff turnover, and meeting new State and Federal reporting requirements. Peak team members are highly trained to provide timely claims processing and payment, accurate data submissions,, new member enrollment, provider support, accounts receivable reconciliation and management, Medicare Part D submissions, coordination of benefits through Medicare or other payers, extensive standard and custom reporting, education and training, and audit/compliance support and more.
There are a number of advantages of using Peak services such as improved pricing accuracy, use of national claims clearinghouses, data submission to CMS, discrepancy reconciliation, provider call center, annual 1099 issuance and CMS’s newest requirements for precluded providers, to name a few. In addition, Peak has direct integration with TRHC’s market leading electronic health records, Cognify and Mediture.
“TRHC supports PACE organizations at all stages.” said TRHC President and Chief Marketing and New Business Development Officer, Dr. Orsula Knowlton. “Our goal is to support the PACE community with solutions that enhance humanistic, clinical and economic outcomes. TRHC provides end-to-end services to assure PACE organizations are regulatory compliant, ensure participant health and safety, and optimize financial management.”
PACE is a federal program benefiting individuals 55 and older who are nursing home eligible. PACE includes 240 centers in 31 states serving a growing number of eligible Medicare and Medicaid participants. The goal of the program is to keep participants living at home in their communities for as long as possible.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (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. Medication risk management is TRHC’s lead offering, and its cloud-based software applications provide solutions for a range of payers, providers and other healthcare organizations. For more information, visit: www.TRHC.com. For more information on Peak’s services, contact firstname.lastname@example.org.
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 1, 2019, 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.
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