Welcome to our dedicated page for Tabula Rasa Heal news (Ticker: TRHC), a resource for investors and traders seeking the latest updates and insights on Tabula Rasa Heal stock.
Tabula Rasa HealthCare, Inc. (TRHC) generates news that reflects its focus on medication safety, pharmacy services and technology-enabled solutions for value-based care organizations. Company announcements highlight how TRHC works with health plans, at-risk provider groups and programs such as the Program of All-Inclusive Care for the Elderly (PACE) to address medication-related risks and support complex patient populations.
News coverage for TRHC often includes financial results and operational updates. Earnings releases describe trends in medication revenue and technology-enabled solutions revenue, with commentary on factors such as PACE census growth, revenue per PACE participant and changes in gross margin. These updates also discuss non-GAAP measures like adjusted EBITDA, adjusted gross profit and adjusted operating income or loss, which TRHC presents as supplemental indicators of performance.
Another key category of TRHC news involves strategic and corporate developments. The company has reported the divestiture of non-core businesses such as SinfoníaRx and DoseMe, and it announced a definitive agreement to be acquired by Nautic Partners and combined with ExactCare Pharmacy. Corporate updates have also covered leadership changes, including the appointment of a new President and Chief Executive Officer and the addition of a Chief Legal Officer and Corporate Secretary.
TRHC also issues news about client relationships and solution deployments. For example, the company announced that Mountain Empire PACE signed agreements for personalized pharmacy services and pharmacy benefit management, building on existing use of PACElogic integrated technology solutions and PeakTPA administration services. Such stories illustrate how TRHC’s offerings are applied in real-world care settings.
Investors, analysts and healthcare professionals can use this news stream to follow TRHC’s financial performance, corporate actions, partnerships and the evolution of its medication safety and pharmacy care solutions over time.
Tabula Rasa HealthCare, Inc. (TRHC) reported a revenue increase of 23% to $86.6 million for Q3 2021, compared to $70.5 million in Q3 2020. This growth was driven by a 29% rise in product revenue and a 15% increase in solutions revenue. The acquisition of Personica contributed 6% to total revenue growth. Despite this, the company reported a GAAP net loss of $17.1 million, an improvement from $21.6 million a year earlier. TRHC expects Q4 2021 revenue of $84-86 million and full-year revenue between $329.6-331.6 million, reflecting organic growth of 7%.
Tabula Rasa HealthCare (TRHC) has announced a partnership with TrackMy Solutions to enhance its vaccine verification management service, TrackMy VeriVax. The service aims to help large employers and academic institutions efficiently manage COVID-19 vaccination status through HIPAA-compliant technology. Key features include independent vaccine verification, COVID vaccine administration, and screening processes. Both companies emphasize the importance of providing organizations with a secure solution that ensures employee safety and verification. TRHC continues to leverage its medication safety solutions to improve patient outcomes.
Tabula Rasa HealthCare (TRHC) has secured a three-year contract renewal with PACE of the Triad to provide CareKinesis medication risk mitigation and pharmacy services. This extension underscores TRHC's commitment to enhancing medication safety for over 200 individuals served by PACE in Greensboro, NC. Since their partnership began in 2017, TRHC has focused on polypharmacy and medication safety, utilizing proprietary technology to mitigate adverse drug events. The continued collaboration emphasizes the effectiveness of CareKinesis in improving pharmacy operations and patient outcomes.
Tabula Rasa HealthCare (NASDAQ:TRHC) will hold a conference call to discuss its third quarter 2021 operating results on November 5, 2021, at 8:30 a.m. EDT. Financial results for the quarter ending September 30, 2021 will be released post-market on November 4, 2021. The call will feature CEO Calvin H. Knowlton, Co-Founder Orsula V. Knowlton, and CFO Brian W. Adams. Interested parties can access the call via TRHC's Investor Relations website or by dialing in with provided numbers. An audio replay will be available for a week following the event.
Tabula Rasa HealthCare, Inc. (TRHC) announced a Letter of Intent with the Pharmaceutical Association of Israel to advance its MedWise Science technology. This partnership aims to enhance medication safety among pharmacists in Israel and the Palestinian Authority. MedWise tools will help identify patients at risk for adverse drug events, potentially reducing preventable hospital visits and improving health outcomes. The initiative aligns with TRHC's goal to combat medication overload and enhance patient care.
CareVention HealthCare, a division of Tabula Rasa HealthCare (TRHC), announced a partnership with the National Adult Day Services Association (NADSA) to enhance adult day services across the U.S. This strategic collaboration aims to support aging populations by promoting the importance of adult day services in long-term care. CareVention will exhibit at NADSA's upcoming National Conference, presenting insights on PACE (Programs of All-Inclusive Care for the Elderly), which currently serves 57,000 participants in 30 states. The partnership emphasizes education and advocacy in improving care services.
Tabula Rasa HealthCare (TRHC) has been accepted as an affiliate member of the World Pharmacy Council, reinforcing its dedication to community pharmacists. This affiliation will enhance TRHC's ability to support medication safety through its MedWise® technology, which helps pharmacists identify patients at risk for adverse drug events. The World Pharmacy Council aims to improve community pharmacy services globally, and TRHC's involvement enables it to contribute data and expertise to this mission.
Tabula Rasa HealthCare (TRHC) announced at the ASCP Annual Meeting that a demonstration confirmed its MedWise® clinical decision support tools can significantly reduce the risk of adverse drug events in long-term care. The company has formed a partnership with ASCP to supply MedWise to its 5,000 pharmacist members, enhancing medication safety in senior care. TRHC's technology integrates pharmacogenomics and other factors to assess multi-drug interactions, aiming to improve patient outcomes and lower healthcare costs.
Tabula Rasa HealthCare (TRHC) reported growth in its PACE (Program of All-Inclusive Care for the Elderly) segment during the 2nd and 3rd quarters of 2021. The company welcomed 11 new PACE organizations and renewed 8 contracts, averaging 3.5 years with no attrition. No regulatory issues hinder growth, and TRHC anticipates launching 8 additional PACE programs in Q4. Their technology addresses medication safety, aiming to reduce adverse drug events, and supports value-based care.
Tabula Rasa HealthCare (TRHC) announced a conference call on September 28, 2021, at 11:00 a.m. ET, to discuss its peer-reviewed article series in The American Journal of Managed Care. The series focuses on an Innovative Enhanced Medication Therapy Management Model that aims to improve medication safety and healthcare outcomes. The call will feature CEO Calvin H. Knowlton, Chief Sales Officer Kevin Boesen, and Chief Scientific Officer Jacques Turgeon. Participants can join via phone or online at TRHC's investor site, with replay options available until October 5, 2021.