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Agreement Will Expand Use of Market-Leading Services, Benefit Association
MOORESTOWN, N.J., Aug. 30, 2021 /PRNewswire/ -- CareVention HealthCare, a division of Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), today announced a new shared partnership agreement with the PACE Association of Michigan (PAM). The agreement, effective August 1, 2021, will help expand and promote the use of CareVention HealthCare products and services to association members to help support improved operational efficiencies and optimized clinical and economic outcomes.
CareVention HealthCare, a division of TRHC, announces new shared partnership agreement with PACE Association of Michigan
PACE, the Program of All-Inclusive Care for the Elderly, is a Centers for Medicare and Medicaid Services (CMS) initiative aimed at enabling older adults who have been deemed nursing home eligible to remain in their homes as they age. Under the agreement, PAM will recognize CareVention HealthCare as the association's preferred provider of services, including MedWise® medication safety management and customized pharmacy services by CareKinesis. There are 14 independent PACE organizations serving more than 4,000 participants in Michigan. Nationwide, 140 PACE programs serve 56,000 participants across 30 states.
"We're thrilled to partner with the PACE Association of Michigan," said TRHC Co-Founder and President, Orsula V. Knowlton, PharmD, MBA. "Our CareVention HealthCare Division and its service lines have supported PAM members to improve performance through operational efficiencies and outcomes. We have been an association partner through membership and sponsorships since the inception of the association. This agreement takes our partnership to a higher level and will benefit both organizations, PAM membership, and their participants."
"CareVention HealthCare and its service lines have outstanding reputations in the PACE community," said Stephanie Winslow, Executive Director of PAM. "CareKinesis and its PACE-specific pharmacy services should be of particular interest to our members. CareKinesis MedWise Safe Use of Medication offering has been shown to identify participants at risk for adverse drug events and premature mortality, improving clinical outcomes and saving PACE organizations millions of dollars in medical costs. This agreement will bring these advanced, PACE-proven services to more of our plans while supporting our association and enabling PAM to expand programming and advocacy efforts."
In addition to medication management and pharmacy, CareVention HealthCare offers third party administration, risk adjustment services, electronic health records (EHR)/integrated technology solutions, and PACE consulting. Pharmacy benefit services are offered in collaboration with Pharmastar, a TRHC subsidiary and CareVention HealthCare service partner. In Michigan, 100% of PACE organizations already partner with CareVention HealthCare for at least one service.
About CareVention HealthCare
CareVention HealthCare offers comprehensive, integrated solutions and services for value-based care organizations, including those at any stage of Programs of All-inclusive Care for the Elderly (PACE), from exploring PACE at the state and organizational levels, through start-up and ongoing operations. Integrated end-to-end services assure regulatory compliance, participant health and safety, efficient workflows, and optimized financial management. CareVention HealthCare service lines include CareKinesis PACE Pharmacy, Capstone Risk Adjustment Services, PeakTPA, CareVention EHR/Integrated Technology Solutions, and CareVention Consulting. Pharmacy benefit solutions are provided by Pharmastar, a CareVention HealthCare service partner. For more information, visit CareVentionHC.com.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) (NASDAQ: TRHC) provides medication safety solutions that empower healthcare professionals and consumers to optimize medication regimens, combatting medication overload and reducing adverse drug events – the fourth leading cause of death in the US. TRHC's proprietary technology solutions, including MedWise®, improve patient outcomes, reduce hospitalizations, and lower healthcare costs. TRHC's extensive clinical tele-pharmacy network improves care for patients nationwide. Its solutions are trusted by health plans and pharmacies to help drive value-based care. For more information, visit TRHC.com.
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SOURCE Tabula Rasa HealthCare, Inc.