TRHC - Earnings call transcript Q4 2020 | Tabula Rasa HealthCare, Inc.

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Operator

Good morning ladies and gentlemen and welcome to the Fourth Quarter and Full Year 2020 Tabula Rasa HealthCare, Inc. Earnings Conference Call. [Operator Instructions] I would now like to hand the conference to your host, Mr. Kevin Dill

Kevin Dill

Thank you, and good evening. Counsel Rasa Corporate Dill, Kevin for HealthCare. Tabula I'm itself safe Litigation harbor company Act intends of the avail to Securities The provisions of the XXXX. of Reform Private within call Certain during will the meaning be statements of this forward-looking made law. that statements risks, or subject could Rasa forward-looking implied results by statements actual other materially differ Tabula and to the forward-looking factors uncertainties These from HealthCare's to are that cause those expressed statements. services health and the developing changes nature the care and products regulations risks technology-enabled and and our uncertainties include laws These impact clients. potential market to of may for that

page Tabula For with HealthCare, additional information Risk XX-K. on the it Calvin including Dr. Rasa of call Investor SEC, of refer website, days. HealthCare. our XX risks for the Factors filings a facing Founder will is our available CEO, recording of through our Rasa turn on the A over and I'll Tabula Chairman and to the section link please the Relations call this be Knowlton, to acceptable of

Calvin Knowlton

morning our call. fourth joining quarter us and for earnings for XXXX thank Good you

Orsula Kevin today Chief we In and to conclude Adams, Dr. Dill Dr. Dr. remarks. Financial with are addition after Kevin and Brian be Marketing/New both available me Mr. to Officer, Business Orsula Chief Knowlton, Officer. Development to Sales will questions Officer, Chief Co-Founder Boesen, respond our prepared

I our follow and accompanied PowerPoint to presentation a website webcast encourage available use by reminder IR a is call the Section conference As of and this you along. at it would to

November, to solid and of million, third, our as by finished XXXX fourth in $XX.X segments. achievements. focus revenue and and major the on delivering XXXX development quarter research execution pharmacist high-end our XXXX, PrescribeWellness, pillar future reflected was We provider, both my comments I'd four with initiatives, provided to fourth million driven which growth X. Slide PACE, and $XX $XX on areas operating across like of our are pleased million of guidance above

has nursing as XXXX, is as XX.X% slowed COVID-XX organizations. experienced further pandemic XX% Further, with that CMS Association PACE. the National rate This programs vaccination rate while of have net an due had infection PACE and are during of of and participants COVID-XX. the due of the highlighted growth to in XX, programs a a contract likely, death has January temporary X.X% XX.X% enrolling PACE less imminent die the PACE less likely compared the First homes deaths. XX.X% and strong According to PACE death rate rate for unfortunately to COVID-XX benefits historically to PACE or infection and

With the early encouraged the coming has will increased viral dramatic believe the months, February receive With virus Association, our along on with vaccination first been among continues the weeks hold late two and we rate new said, enrollment we part we are and and of as October PACE as recent cases of by the in terms weeks on seen of weakened less this new Again, a improvement in in trends strong there resurgence PACE X. Slide the participants, of XXXX. recovery the to PACE that XXXX initially National saw According death into the PACE deaths. trend less members centers. in opening as of the

PACE see throughout organizations fact, in In progress vaccinations starting United we to are with the good States.

for XXX of more California, open in with site vaccinating San seniors most designed a specifically community's per day. on where West COVID-XX goal in the As new a Diego or February PACE at XX vulnerable an seniors County example vaccination

as the to contactless care PrescribeWellness with of Biden the the The PrescribeWellness administration X.X XXX our short early In private Program, vaccination February, vaccine partnership a In will of has and are have with more network that value-based state leveraging larger launch Pharmacy million of even pharmacists’ Health Pharmacies such COVID-XX pharmacies have Americans. nationwide. PrescribeWellness administered independent XX contributing Network PrescribeWellness care. the X, second is the to role across And topic primary the and accelerate pharmacists emphasized forms we in databases. toward long-term those The pharmacists. critical is February HEB, pandemic part integrations networked pharmacies. XX,XXX national and Among a as pharmacy has announced clients, Mart. registration community partners of movement pharmacies vaccinations Retail participating and as effort influence XX, representing nearly efforts, vaccinate pharmacies with term, nationwide the Federal than to play pharmacy CPESN locations of are number

third initiatives in discuss growth key our I'd and to is like shortly XXXX of investment area The beyond. and some

in had by strong release, highlighted led a division. our press sales As plan health payer we our year,

Given of in invest and aggressively the existing new we our and sales wealth opportunities markets, to plan in marketing.

market expanding plan First state five our involving Medicaid our marketing penetrate programs. large MA provider using pharmacists. second, MedWise fourth, Plans, event groups, adverse by initiative and at years leadership by unique and markets third, pharma headcount including government and further the employer to our groups, in XX% we new efforts marketing simulation risk enhanced multi-drug targeting more self-funded thought emerging first, campaign fifth, the growing and broader ahead XXXX platform, are; Medicare of salesforce Examples digital campaigns second, drug plans in by health than

his unanimously recently as XX, reduction to and legislation will prescription New risk fact, Jersey the for program. supporting current his budget Jersey that Jersey a services the yesterday announced Murphy address legislation drug New February waits is Tuesday, under now Medicaid Senate New of model passed in apply Assembly. the part administration that In Governor is the annual This on

in of comprehensive record combined, papers. initiatives just providing five for to exciting offerings, These months. adopted our solutions by research for opportunities us of have which integral that share our our wanted market of team. an similarly had PACE the one XXXX I nearly to and in major than and who from on joined We development XXX medication the by end membership are some journals, continued coming sales cross-selling. core Tadlock, our with senior pharmacy our recently opportunity year with more base participants, in team We or and Fourth, closed our example, accomplishments reviewed years enormous of XX% is new the Celynda in of share Dr. significant a led have in XX with expansion. have citations PACE prior fulfillment. publications were base, XXXX XX,XXX our the two these peer cross-sell these along at playing recent pipeline executives more role an bundled is enterprise our Within science offering we in opportunity

Risk predicting XXXX, some Looking in premature categories; peer research including to of exciting mortality. Score six we different association have new underway, reviewed the our MedWise First, publications

of intervened. articles a the we significant savings patients number EMTM Second, whom showing we cohort scored on focused the with of

outcomes pharmacist turn multi-drug large I six, previously. groups. prescribing. simulation focused Fourth, employer our simultaneous medication Fifth for applications interventions payers. in on proven one over Brian. of it pharma patient a opioid self-insured for Third, that, now will With driven as outcomes mentioned robust regimen And to of pharmacogenomics, effective I

Brian Adams

but on my Thanks Cal. first to focus additional the comments quarter. I'm color to our wanted some outlook, XXXX on provide going fourth

fourth and revenue. Personica PACE within HealthCare Product divided solid CareVention quarter, by was inorganic PACE organic our Solutions our performance in million equally segment. $X.X Our which driven and contributed during of growth was nearly the revenue

HealthCare, to performed the MedWise successfully results. this showing third the segment negatively Turning quarter pleased sequential to quarter third modest we I'm challenges growth expected that our report as as versus addressed impacted

of follows; total guidance year as full formal to we're represents which million $XXX of revenue the growth. introducing midpoint XXXX, the million XX% For range the in $XXX

growth in to in census a first moment. in half Our quarter depressed and is detail the PACE attrition XXXX client rate more discussed and first of due

subside. million $XX XXX million. over two growth of or point our of the and significantly and to to a or Non-GAAP experienced the these half XX% represents of trends in times as rate $XX historical expect begin levels growth improve adjusted margin of for EBITDA in X.X% The basis We second pre-COVID midpoint rate returned XXXX. of range revenue growth to we've the XXXX the improvement to which

revenue Our to support the the plans. into watermark the and coming first by for structure impacted low profitability and cost the XXXX growth our year growth in quarter modest marks is higher

Slide X guidance. the there Relative provides when blocks November, building our spoke in revenue we behind release in changes. to press are Our two notable

COVID-XX as is of the XXXX. First and in resurgence XXXX late touched Cal early on

growth enrollment While for data January progressive remain both we Association rate widespread. rates our trends XXXX, net rates also death more the Recent encouraged the something clients, our resulting seen has to half We're second extremely return overall enrollment strong past all a PACE across normal a months. death did National higher become we in client data. weeks, more negative by that as in rates shown have decline in February to vaccines recent PACE four the from and and expected over these of of see by in our

as earnings we of revenue, attrition in client primarily representing Second about some one noted X% did our related have customer. to release,

growing first have than at incremental sales as Knowlton by I'll for to secured in with over these the year, the While this seeing turn on as to our more several half it closing back accounts XXXX, key we significant offset team. pronounced contracts comments. the expect sales of impact And Cal? with more secured will well we a losses expansions Dr. are that,

Calvin Knowlton

to notably with a net population, better our year Despite in are Brian. headwinds, Thank much you, we looking-forward some XXXX. PACE early

the open are as We the of and support solutions block our advance our please science growth team as the even and technology for to to stronger to well investments ahead. question-and-answer. Operator, in expand necessary making years marketing medication suite sales

Operator

first Blair. [Operator your Ryan Instructions] with from And William question Daniels comes

Ryan Daniels

we doing and that investments, guys clearly and questions marketing robust. thanks payer the sales the MedWise for looks bookings taking about think are and If the pipeline color. well Yes,

still clients. the However, and cross-sell core this have huge PACE upsell to you

to So your about and spend market in products? Thanks. talk pretty can going to allocate forward sales bit little marketing you're that going you various how uptick a

Kevin Boesen

Appreciate Boesen. Sure. Thanks question. Kevin is Ryan. the This

focused We growth have areas outside of of organization I amounts made right sales in terms within PACE as the some also but making are – tremendous growth team the in we've well. think that and on we the of comments PACE of market, the the you're

Celynda some that have about and space XXX% have there. we in further leveraging year. by our that of total doing, So that last work into the cross-selling of new we the and PACE folks we And offering selling the the product assets then the brought growth supported is over number

Ryan Daniels

and one Brian. Thank for you Okay. that for maybe then

you indicated we business say XXX does a compare basis release about to the growth Thank on do like your XXXX delta to think of potential what normal kind year you I of should drive think end that And hitting of or of actually the How and new the conversion, visibility expectation. range? driver that XXXX? to have based biggest rates that as Just guys. press about pipeline level seems conversion that the either points

Brian Adams

That's Ryan. Thanks based excuse We is Yes. which conservative. relatively forecast on a our on good XXXX, XXXX, question. which me –

Looking additional have sales folks we're at the end that Anybody the on the that conversion in our incremental and to existing and revenue. of infrastructure ability of XXXX XXXX, the later really then rates forward the first we've early year the the to with by on-boarded the bring half in year. wouldn't contribute at headcount XXXX to that planning rolled obviously

think use we our as rate conversion baseline, is So likely we which conservative. XXXX

Operator

Securities. Santangelo comes question next Your from Guggenheim with Glen

Glen Santangelo

sales the being where normalized I perspective sort in about the XXXX the to And comments for of this an of this kind Hey, release, in guidance think you guidance maybe on year. Brian, top algorithm second reconcile versus And remarks put expect How updated as growing half what longer-term bookings about us up a quarter it you now the try to want you and bit. maybe talked suggested and to Could is Thanks you, help taking follow-up should guess growth sort those also into I we I last from to up the Yes. of relative it past? sense the think that your little you've Thanks. normalized of being In your more the just to in and XX% point? was line? just at relative in part that, wanted time my the pipeline I that get on be question. prepared the like year. you discussed growth what XX% of

Brian Adams

is to describe teaming Yes. But Good of were – got I new today We've you to Ryan's through tag as the to by with the question, really the there, to think is to the end onboard this up Glen. sales some pipeline. pipeline those probably and sales deliver with opportunities communicate starting that with questions, that's team pull on effort required what I'll it's about those Kevin. would professionals really pipeline numbers. those continuing And and this we the statistics, trying about

about XXXX. the rates So just we good it's exiting conversion horsepower. feel really And about now

the And growth over as on over So individuals latter plan rate to months, you about impactful. towards little be we we the this really month. rates, the each are in half the of going year typical new and X% think bring is our coming sequentially to for PACE growth look

we've So organic growth in XX% year. a basis seen an annual on about non-COVID

Kevin, good QX. infrastructure we to related you expect QX XX%, about in that? based expectation making I the and are And anything to So would the that probably the us year-over-year growth. rates forecasting get QX starting that investment is add growth to to a that which and on we're level forward-looking sales would in think we're

Kevin Boesen

would plan side. was the in core a better a as say in our couple particularly health much XXXX I Yes, XXXX of There's opportunity on services, that comparatively.

the the we and support of providing quantity. part hit the the medication extra allowed some pandemic services adherence of were early patients year, at aligned where were as our extra pills, dosing kind day So of slowed MedWise with

to that deals accelerate an in the closing returns that's also And of of to opportunity some we're us well. so as XXXX, normal as that for implementation

to like So be we'll what back this would expect feel pre-pandemic we we year-end.

Glen Santangelo

for Thanks Okay. comments. the

Operator

Sean Capital next Dodge with comes Your question RBC from Markets.

Sean Dodge

anything course this and XX% this over years of smaller you're going they is year-on-year could morning. is bunch these Good stuff or how then launch them us are now are the It's sense January-centric into up clients, for the kind can bulk pipeline to a opportunities? composition and in on revenue the Maybe a into can broad the of guys. flow or moment, you're or you pipeline expansions relatively of now convert that? year? the the Are or give new staying they or of of Thanks, contracts larger MedWise a that these of sales on stuff expecting the after

Brian Adams

It's question. a all great actually of a It's mix of those.

I is up broader, So the transition so the to medication in it's drive. of in from that deeper MedWise we've relationship with traditional broader measures the on years really Part that what medical helps standpoint, science, relationship, Medicare MTM picked a focus which clearly we’re a to our a of some think last tried couple appropriate working much than clients measures, management are C we've

side broader, deeper larger much clients, on relationships plan the side, amount with tremendous deal sizes of So health growth larger well. the pay but also a as on

we've of deal for So using leverage PBM, a that Pharmastar opportunity our those Pharmastar being but that just assets our year and side, acquisition other year not focus services particularly adherence programs that Traditional pay implement at necessarily start, we we throughout on implement And as do calendar to that's Medicaid And year. implement with can as services, as but the wins a in well. us use the are big that clients is mid-year. space then able allows some we the mentioned some yet, us have plans to looking had can and large then I that throughout pharmacy MTM on well. we services are the the sizes great

Sean Dodge

growth next improving little an And declines the give seems on means? followed Thanks. continued that the month the or given the bit what in then February to you first guidance just return of of PACE just kind you weak are for stabilization? are us quick half or of in improving then or per second by seen Are the does year mean a now guidance, half, detail X% back some in you Okay. couple you Can a some on that what kind pretty historical cadence? expecting And of census the of we've said assuming assuming months a half. more sequential you kind

Calvin Knowlton

tremendous us of of because January same it kind Yes, Cal. admissions new death is over negative XXX breakeven less amount XX% showed XX%, a But was and net February XXX, about deaths. February. we month. for we was than in of still the a the This had almost had January

the we get to rest and that of So are normal. now March months expect the to going back

Brian Adams

of second Sean, just January in we're basically and maybe of describing, relates happened bit half Cal year. what timeframe flat X% July of starting in improvement the And was it slight to a the back second then given as normal for rate, little as growth about to of quarter, expecting month. per a in seeing in March kind that really QX and uptick the the going

Sean Dodge

great. That's right. All Thanks again. Okay.

Operator

with Sandler[ph]. comes Your Wieland next Geyer question Sean from

Sean Wieland

Sandler, close. you. Thank Piper pretty

area after going Can you're new of Medicare about I outlaid, next that at-risk you Advantage, strategy have and the new Medicaid are where guidance missed groups, large you might go-to your year, that Thanks. mentioned within a providers, employer these some with talk just your assumptions maybe markets? you So areas these in little bit self-funded market your markets some to Programs, respect focuses one. what underlying

Kevin Boesen

– that I'll we’ve address market Kevin, some the go-to is in I'll that this areas mentioned. the thanks question. for of

the So still for is those on areas one core are Advantage programs. the of Medicare side the us risk and

things about are One a of that our lot our pay pay that and that there's plan are typically new our so health applicable as and assets, of to our the we've health side, things Tabula on but the thought side plan Rasa PACE we side assets attractive leveraging market. have and

Medicare plans we've traditional our with at looking traditional things MTM, TPA also our our MA So But contracted offered opioid services we've leveraging startup PBM like Medwise are we services. that recently that programs, to have relative solutions. and

smaller to of in an services it's looking of haven't what that that on at attention provide really we're a very live risks contracted with space, to been really leverage to look portion a terms plans manage has what the how supplement benefit those strategy Medwise can with sales can We've those more to is that them at benefit the us the PBM we that pharmacy space broader and team, So that include similar of like have. employer services example. some part science some the to self-insured employers side as of they key health of paid also our that startup of plans that. employer set Medicare medical relative in even that to solutions have a that In bring to assets other the together we broker of can services, our space that help similarly some companies

supporting really modeling appropriate is that Advantage strategy New at to to pharma we're in a using Our we through are the or our programs Score. to systems predict the health the pharma talking and safety our in time then strategy population companies as at MedWise space And where general use. work medication have we're of looking really similar a Medicaid around health help and Medicare we're system about looking our things science them the state Risk in built helping risks bit then in the spent really using very looking And the that doing to populations Jersey. same those the manage space, take know Medicare of strategy, companies health little medications relative I that

Sean Wieland

of the these much how opportunities? leaning guidance new market is And on

Brian Adams

which into baked where at commercial spending our the Medicare guidance this we've and network on most very So space, is our providers little Sean to focused Medicaid been the related pharma majority there's time. is the today, guidance And the point. and of

for So would pretty say are I it's just emerging much opportunities, immaterial XXXX. those

Sean Wieland

then the opportunities And your any and or that? revenue revenue is of rollout with that there pharmacies, associated the independent among vaccine any some associated participation with Okay, great. tangential

Orsula Knowlton

necessarily. Not

expanding providers for really pharmacists I identifying primary care just think opportunities there as their are practice. and

our the providing our addition, in In system, MedWise we're engagement center. patient technology MedWise right

follow-up vaccines for are and engagement So administration. covered client in revenue themselves the Generally The doctors. vaccine themselves, by there are the vaccine greater regard. vaccines the opportunities for that then – are initial pharmacist the generate

Brian Adams

module access client module to state have get in we there's that be buy to from Sean, a and us. every a of they our – also databases, PrescribeWellness for order certain have state, vaccine – certain a registries

So that. is revenue there on

Orsula Knowlton

absolutely. Yes,

Sean Wieland

so Thanks Okay. much.

Operator

question Your Stifel. with David next is from Grossman

David Grossman

your you marketing I the to what changes you. bit little just faced type really of follow-up I some Thank maybe sales sales has to organization. item far how follow-up or to kind of the wonder unique the biggest model – some you kind of obstacles? if target address on a the do a markets? add you non-PACE is? in of and those what the been what making additions you're to persons I'm given And gating that, can curious, new the that of And could to just efforts just do thus

Brian Adams

thanks recruitment. do David the the question to opportunity and for a little

a of pharmacies, that opportunities look able looking really to offer really of So at-risk how to are community sales for with I all evolved And that things your markets solution understanding the that that the plans system good the being understand at the has team, we in. Tabula fit point, people and for the from providers, we're can health to really or to have one to think is pieces healthcare have together standpoint. a our Rasa the or we work

do it sure you in of So complicated making terms understand is that healthcare.

of didn't great in first about seasonal see really excited the It people shows of coming probably to have part and that it didn't so trade We times one and you typically showing of if on have and so QX our QX and some difficult MedWise important started. canceled challenges really that with QX. relationships in the the back was get and we last was mostly business brought see to turning their we're we an get really very were to XXXX which this that. people, difficult that's in is decline would door relative faced year, to around health year, that of signs So out from in the we plan access, that pandemic. clients, it was The business success

as are meetings clients, the get, starting for come much to back relationships we with the help think to and plans of starting really the see regular as shows access adapt easier turn look some shows sort that we're trade to pandemic, have to more something that out well, the but with market to be of are so certainly will forward-looking I well. that's health virtual So trade opportunity

the touch just that we do for there? how second, want question. answers Kevin, versus year to started on you in hopefully we So professionals XXXX of a had the ended how with year we the on types sales the

Kevin Boesen

Yes, sure. a too. comment That's great

into really with attend XXXX, adding of So trade we shows. a the number different generation pharmacy a we had planned plan primarily XXX intent regional salespeople through – based and director-level had lead related probably that of driving to health plus

canceled away transitioned were from and level we've space. the in sales in and of brought shows as experience some broad have executive Vice space levels so President that PBM that the we level, health folks plan And those

So benefit opportunities understanding really design and are. these where

of starting So see the we benefits person that. sales higher we're transitioned level a and in XXXX to to

David Grossman

I agree.

Orsula Knowlton

we and a launched the education. on a awareness And medication marketing providing and seeing was a reached medication of with perspective, in of had safety had and benefits safety that we're through XXXX awareness that, we're people still but the and idea problem safety brand leadership the is broadcast it from media. of thought a So medication issue millions campaign

David Grossman

that's lowest a of revenue what – that range Should that if today? looks for of the the question, press be of not Is you you you today openings that a of million, you you just that. the on new guide at that the that which range pretty reacceleration it you well $XX in year? to visibility great of is thank have Thank in the that do feel growth the X% guidance. have that, remained, you. PACE the contributed the release if from may, that that take on just one of good your said I equal with strong low end more the XXXX mentioned read on we from end the The or components and are visibility? All And bookings. your in Or to feel guide right,

Brian Adams

XXXX mean, very seen growth good feel a despite I the a there throughout low was especially spring not pandemic then the emerged time. having happened stall end census. the we've what at as of And of we we the in range, timeframe. bit David, the Yes. PACE about with saw little progressive vaccines

that resurgence there growth. kind So a was of of a

So the the the four but normal the feel But dynamics we in watching remain described on of biggest in getting number we all really now really today. pretty guidance deaths decline feel a has is our piece the weeks are aggressive, to past we've of growth confident and that different that we rate, as seen back over kind good factors of that closely. that the where we very we've the really the about sit bottom-end based and been

David Grossman

as a material And read a the to they're but that XXXX. opening delayed centers XXXX pandemic. the know new just result get significantly just to how year, I visible And just kind me, impact not on will of of if are? you the openings in was PACE remind certainly this they could of trying

Orsula Knowlton

The existing of that open. programs and And of the pipeline were did were XXXX, there client expansion significant. sites start. not in there that course delays, open to we to expecting but were quite are Well, new some scheduled have

David Grossman

I you very very All right, much. good. see. Thank

Brian Adams

you. Thank

Operator

Instructions] is SVB question from Leerink. Stephanie Davis And [Operator next with your

Stephanie Davis

taking my you thank for question. Hey guys,

Orsula Knowlton

Stephanie. Hi,

Stephanie Davis

I'm sure.

any going relative about the bit attrition? probably takeaways there Or want tell prioritization after topic us But the or dissolution[ph]? this. this is large contract Are of again read-through a this little more to the competitive to about of You're never program? a to could MTM you talk company specific

Kevin Boesen

is – to you. a talk This question. a Kevin good that. that's Stephanie, good Yes, it's to good I'll It's address

renew we our them. MTM contract the decide did not Regarding client, did with relationships that net them, we not with did sever we

a in-source see client time-to-time new had that a face. there outsource, space. to healthcare from plans in of a some the of So the and the that we are that clients challenges number part that's business be of client went we due to some of in programs supporting. the to We will And and particular, lost look that we merger with ours. of patients We

the the over last side that have have couple up of on picked actually WellCare that through of we So business of we a years growing lot too. relationship a things

So confident personally and we today. we've it's too adjustments that, are of made terms I think where I in wouldn't into the more read much

Stephanie Davis

Understood, to can of XQ up you a helpful. you cadence about low-single in more that about I help again. Brian, the right. double-digit us All the you reconcile? that's – never contract kind love Could digit or bit this talk would year-end. ramp growth from little Maybe exiting hear to

Brian Adams

Sure.

So the well seen at year, numbers just first with the is were are come an the things contract a are team. the as as that we that Kevin looking PACE we job pipeline rates building what census done phenomenal quarter two as of and Those and the you're the part as impact, discussing. have in primarily team we having the an of first have in. in his depressing conversion clearly acceleration

As he structure. of rates. in mentioned, been I bit think we've And migrated terms a of that's extremely win helpful to different a

are going expect the And to begin so year. do rates we see continue we new throughout increase accelerate folks on those to to bring those that as we win do and sales

that's with an the into to the and PACE QX at quarter, looking single-digit and a have throughout are going impact very coupled but material that third, expect sales first of biggest The in accelerate we right, increase rates is, quarter, rates, you're to from team. So both in contribution the getting about second second XX% growth growth to as QX. really we piece quarter

the in I positive having that here PACE seeing we're fronts, a now. January sitting February, fact very aggressive all on on across So vaccine right the think rate despite net we're with rollout a signs enrollment negative really and

get growth rate to XX% the that, think it's I to line business. for the that that year, half assume with we of pre-COVID the very is back reasonable entire saw which in much we second very what in

Stephanie Davis

growth step XX% more gradual normalized? exiting so is function then of at then then a ramp more and kind And of a

Brian Adams

Yes, that's what we believe.

basis. a on more know You XX% normalized

describing types the years, more lumpy that the our So more bit growth at the right sequential can the organizations throughout as he past and any it's is targeting been to have of and his point little now, in was over past and a predictable are throughout at earlier team launch couple, Kevin target year least year.

couple have recently held Medicare us into timeframe. that do help to launch the going meet QX. goals It's not a of we're those and ability been there's that'll those calendar-year we to to programs, wins So

Stephanie Davis

you That's helpful. Perfect. Thank super guys.

Brian Adams

Sure.

Kevin Boesen

Thanks Stephanie.

Operator

At this This participation. further time your Thank there for call. questions. are conclude no today's you does conference

now may disconnect. You

Tabula Rasa HealthCare (TRHC) 24 Feb 212020 Q4 Earnings call transcript