Progressive Care to Expand Into Rapidly Growing Remote Patient Monitoring Market
April 27 2022 - 7:12AM
InvestorsHub NewsWire
MIAMI, FL -- April 27, 2022 -- InvestorsHub NewsWire --
Progressive Care Inc. (OTCQB:RXMD)
(“Progressive Care” or the “Company”), a personalized healthcare
services and technology company, is excited to announce its
expansion into the rapidly growing multi-billion dollar Remote
Patient Monitoring (“RPM”) space.
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According to new research from MarketsandMarkets, the global RPM
market is projected to reach $175.2 billion by 2027, growing at a
robust 27% compound annual growth rate over the next 5 years.
The National Center for Biotechnology Information estimates that
approximately 67% of Medicare beneficiaries have two or more
chronic conditions accounting for 94% of Medicare spending. Chronic
conditions have a significant impact on healthcare spending as well
as hospital readmissions. Due to this burden, the Centers for
Medicare and Medicaid Services (CMS) developed the RPM program to
mitigate spending and provide clinicians with the digital data to
implement more informed treatment plans for patients enrolled in
the service. The Company’s experience in medication and therapy
management and its active participation in data analytics would
carry over directly into the RPM marketplace.
The implementation of patient-oriented technologies such as
wearables and 5 G-powered home devices to track physiological data
will enhance Progressive Care’s capabilities to provide doctors
with usable insights into patients’ overall health. Additionally,
it will benefit our existing physician base as well as provide a
more complete suite of services for future accounts. CMS authorizes
pharmacies to work in collaboration with providers, offering
services as employees or contracted personnel and thereby enabling
the Company to bill providers and healthcare organizations for RPM
services.
Alan Jay Weisberg, CEO of Progressive Care, stated, “The RPM
space is set to be one of the most important growth areas within
the healthcare industry over coming years and our most logical next
step given our broad base of patients who have multiple chronic
conditions. Progressive Care has differentiated itself from
competitors in terms of commitment to medication therapy
management. Our reputation among healthcare professionals in this
domain is one of our strongest advantages.”
For more information about Progressive Care, please visit the
company’s website. Connect and stay in touch with us on social
media:
Progressive Care Inc.
https://www.progressivecareus.com
PharmCo, LLC
https://www.pharmcorx.com
ClearMetrX
https://www.clearmetrx.com
Forward-Looking Statements:
Statements contained herein that are not based upon current or
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 Company’s
expectations about its future operating results, performance, and
opportunities that involve substantial risks and uncertainties.
When used herein, the words “anticipate,” “believe,” “estimate,”
“upcoming,” “plan,” “target,” “intend” and “expect” and similar
expressions, as they relate to Progressive Care Inc., its
subsidiaries, or its management, are intended to identify such
forward-looking statements. These forward-looking statements are
based on information currently available to the Company and are
subject to a number of risks, uncertainties, and other factors that
could cause the Company’s actual results, performance, prospects,
and opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
Public Relations Contact:
Carlos Rangel
carlosr@pharmcorx.com
Investor Relations Contact:
ClearThink Capital
nyc@clearthink.capital
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