ST. LOUIS and MOORESTOWN, N.J., July 11, 2018 — Capstone Performance Systems, a Tabula Rasa HealthCare (NASDAQ:TRHC) Company announced today the closure on new contracts with six PACE organizations (Programs of All-inclusive Care of the Elderly).
Capstone Performance Systems provides Medicare risk adjustment and health plan management services to PACE and similar value-based healthcare organizations. Its Peak Health Plan Management Services division performs back-office functions for PACE organizations, including Third Party Administration (TPA) to manage claims from healthcare organizations.
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 in their own homes while receiving quality care.
With the addition of these new clients, Peak Health Plan Management Services will begin immediately serving an additional 1600 PACE participants. Three of the six new clients are startups, and will begin operations later this year and in January 2019.
“We are pleased to welcome these new PACE clients and eager to assist them using our expertise in health plan management services,” said TRHC Executive Vice President Kim Browning, CHC, PMP, who oversees Capstone Performance Systems.
About Capstone Performance Systems
Capstone Performance Systems specializes in helping healthcare organizations adjust processes and systems to capture timely, complete and accurate data. Expert staff deliver training in documentation and diagnosis coding; analyze data collection and submission processes; and deliver meaningful analytics for understanding the complexities of Medicare risk adjustment. Its Peak Health Plan Management Services line performs back-office functions for PACE organizations, including acting as a Third Party Administrator (TPA) to manage claims from healthcare providers. Capstone is a Tabula Rasa HealthCare company. For more information, visit capstoneperformancesystems.com.
Forward-Looking Statements
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 14, 2018, 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.