Moorestown, NJ (GLOBE NEWSWIRE) -Tabula Rasa HealthCare, Inc. ("TRHC") (NASDAQ:TRHC), a healthcare technology company optimizing medication safety by deploying new medication risk mitigation digital software solutions and novel, proprietary medication decision support tools, today announced that its subsidiary, SinfoníaRx, has launched its medication therapy management ("MTM") solutions and services for Medicaid beneficiaries in Florida and Virginia under an agreement with a major behavioral health payer.
"MTM programs are a central part of the Medicare prescription drug benefit; however, they are not common in Medicaid. This program utilizes best practices from our experience, and it goes a step further to provide specialized support for Medicaid beneficiaries who suffer from behavioral health-related problems," said Kevin P. Boesen, PharmD, CEO of SinfoníaRx. "This includes assistance for patients who may need extra help managing both their mental and physical health. In addition to our traditional MTM services, we will provide pain management and opioid monitoring, which will fill an important need."
A significant percentage of Medicaid beneficiaries have behavioral health conditions and a growing number have opioid addictions. According to a study by the Kaiser Family Foundation, Medicaid covers three in ten non-elderly adults with opioid addiction. This offering will help manage these issues through a number of methods, including monitoring for medication adherence, uncoordinated care, and the use of multiple prescribers or multiple community pharmacies.
The innovative MTM program includes weekly medication risk assessments, ongoing medication surveillance, and personalized consultation services by highly trained clinical pharmacy teams. The medication assessments and surveillance incorporate proprietary clinical algorithms to identify patients at risk for medication-related problems. "We are pleased to be part of the solution for behavioral health companies to better manage and to help prevent medication-related problems," said Calvin H. Knowlton, PhD, Chairman and CEO of TRHC.
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. SinfoníaRx is a Tabula Rasa HealthCare company. For more information, visit TabulaRasa.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.
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SOURCE: Tabula Rasa HealthCare, Inc.