Progressive Care Reports 18% Increase in Revenue for April and
May 2017
MIAMI, FL - June 8, 2017 - InvestorsHub NewsWire - Progressive
Care Inc. (OTC
PINK: RXMD), through its subsidiaries Smart Medical Alliance,
Inc. and PharmCo, LLC, is a South Florida health services
organization and provider of prescription pharmaceuticals,
compounded medications, the sale of anti-retroviral medications,
medication therapy management (MTM), and the supply of prescription
medications to long term care facilities, administration and
practice management, utilization management, quality assurance, EHR
Implementation, billing and coding, health practice risk
management, announces continued advancement during April and May
2017
PharmCo filled nearly 36,000 prescriptions and realized revenues
of over $3.3 million during the first two months of the second
quarter, with nearly $1.9 million recognized in the month of May.
This represents an 18% increase in revenue over the same period
last year. PharmCo continues to drive revenue growth and increasing
prescription counts through targeted interactions with physicians
groups, clinics, and healthcare networks. The Company has been
promoting its enhanced compliance and adherence techniques to
healthcare providers under full risk contracts with insurance
carriers. These programs and services have allowed the company to
gain market penetration in Palm Beach County and the surrounding
areas.
During the second quarter, the Company also began a full
enterprise best practices evaluation. This process is designed to
innovate new technologies, methods, services, procedures and
protocols that will ensure PharmCo stays on the cutting edge of the
pharmacy industry both now and in the future. The company routinely
updates its model that best coincides with market and industry
trends, but the ever increasing uncertainty in the healthcare space
necessitates a more aggressive approach to improving standards.
This also includes a concerted effort to recruit top talent to
become members of the Board of Directors and senior management, as
well as engaging reputable firms to represent the company and
provide vital consultation.
We are having a phenomenal year thus far, stated S. Parikh Mars,
CEO. Though the challenges we face are many, we continue to push
forward with an ambitious growth and development agenda. We have
maintained a lean and fluid business that has allowed us to adapt
to change and pressure while also being able to expand into open
areas of opportunity. We know the remainder of the year will only
get busier and that is a challenge we always welcome.
About Progressive Care
Progressive Care, Inc. (OTC
PINK: RXMD), through its subsidiary PharmCo, LLC, is a South
Florida health services organization and provider of prescription
pharmaceuticals specializing in health practice risk management,
compounded medications, the sale of anti-retroviral medications and
related medication therapy management, and the supply of
prescription medications to long term care facilities.
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historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Companys
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
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intended to identify such forward-looking statements. These
forward-looking statements are based on information currently
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forward-looking statements.
Contact
Armen Karapetyan
Senior Advisor Business Development
armen@progressivecareus.com