Moorestown, NJ – February 3, 2020 – Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announces today it will become an Executive Member of the Get the Medications Right Institute™ (GTMRx). GTMRx defines itself as “a catalyst for change that brings critical stakeholders together, bound by the urgent need to get the medications right.” The Institute’s goal is to ensure appropriate and personalized use of medication and gene therapies by advancing to a scientific, evidence-based and cost-effective decision-making process and a team-based, systematic approach to medication use. By showcasing evidence and innovation, GTMRx motivates practice transformation and pushes payment and policy reform.
“We’re delighted to welcome TRHC as our newest Executive Member, and we applaud their important and achievable goal to optimize medication use,” said Katherine H. Capps, Co-Founder and Executive Director of the GTMRx Institute. “We have the evidence and knowledge we need to fix the trial-and-error approach that is costing lives and billions each year. TRHC, together with others who recognize this urgent need, will help ensure application of this evidence across health care systems.”
According to research published March 26, 2018 in the Annals of Pharmacotherapy, and coauthored by Terry McInnis, MD, co-founder of GTMRx, illness and death resulting from the wrong prescription, the wrong dose, skipped doses or new medication-related issues—what the authors call “non-optimized medication therapy”—cost 275,000 lives and an estimated $528 billion a year. That represents 16 percent of total U.S. health care expenditures, according to the research.
“TRHC is joining to support GTMRx at a critical time in healthcare evolution,” said TRHC Co-founder, Chairman and CEO Calvin H. Knowlton, PhD. “More than a decade ago, we founded TRHC with the goal of increasing medication safety. Today, TRHC decreases medication-related risk, reduces adverse drug events, enhances compliance and quality of care, and improves medication-related outcomes through science and technology. We join GTMRx to further the progress of determining the right medication for the right person.”
About the Get the Medications Right™ Institute
The GTMRx Institute is a catalyst for change that brings critical stakeholders together, bound by the urgent need to get the medications right. We are physicians, pharmacists, health IT innovators, drug and diagnostics companies, consumer groups, employers, payers and health systems—aligned to save lives and save money through comprehensive medication management. By showcasing evidence and innovation, we motivate practice transformation and push payment and policy reform. Together, we ACT to champion appropriate, effective, safe and precise use of medication and gene therapies. Learn more at gtmr.org.