Welcome to our dedicated page for OptimizeRx Corporation news (Ticker: OPRX), a resource for investors and traders seeking the latest updates and insights on OptimizeRx Corporation stock.
OptimizeRx Corporation (NASDAQ: OPRX) is a leading provider in the healthcare technology sector, offering digital health messaging solutions that enhance communication between pharmaceutical companies, healthcare providers, and patients. OptimizeRx specializes in the integration of electronic health records (EHR) to distribute financial assistance, educational materials, and clinical information directly at the point of care.
The company leverages its proprietary SampleMD and eCoupon technologies to expand the distribution of patient savings and support materials within the e-prescribing workflows of over 300,000 healthcare providers. These platforms enable healthcare providers to deliver real-time financial assistance and support to patients, thereby improving medication adherence and affordability.
OptimizeRx offers a range of products, including Financial Messaging, Brand and Clinical Messaging, Brand Support, and Patient Engagement. These solutions aim to help patients start and stay on their prescribed treatments while providing pharmaceutical companies with efficient ways to increase brand awareness and adherence.
Recently, OptimizeRx has undergone significant leadership changes. Gus Halas retired as Chairperson of the Board, succeeded by Lynn O’Connor Vos, a seasoned executive with extensive experience in healthcare IT and life sciences. Additionally, Catherine M. Klema was appointed to the Board, bringing her expertise in strategy, finance, and governance.
Financially, OptimizeRx is in a robust position. The company's revenue for FY2023 is estimated to exceed $68-$70 million, with adjusted EBITDA ranging between $3-$4 million. For 2024, the company anticipates revenue of at least $100 million due to a revised gross-to-net accounting treatment for certain revenue streams from its recent acquisition of Medicx Health.
The mission of OptimizeRx is to empower the healthcare community through innovative, tech-enabled communication solutions that improve patient care. By connecting over 60% of U.S. healthcare providers and millions of patients through its digital point-of-care network, OptimizeRx continues to deliver significant value to patients, healthcare professionals, and investors.
For more information, visit www.optimizerx.com
OptimizeRx Corp (Nasdaq: OPRX) has entered a multi-million-dollar, three-year agreement with a leading Hub services company to enhance patient services using OptimizeRx’s technology solutions. This partnership aims to streamline access to medication through digitization, addressing eligibility and affordability for pharma-sponsored programs.
The collaboration is set to improve efficiency in navigating patient care management, reducing the administrative burden on healthcare providers, who currently spend significant time assisting patients. Given the rising demand for specialty therapies, this development positions OptimizeRx favorably in the growing market for health technology solutions.
OptimizeRx Corp. (Nasdaq: OPRX) reported Q4 2022 revenue of $19.7 million, a 3% decrease year-over-year but a 30% increase quarter-over-quarter. Gross profit rose 1% to $12.5 million, with gross margins improving from 61% to 63%. The company generated $10.7 million in cash flow from operations for 2022 and repurchased 1.2 million shares at an average price of $16.49. For 2023, OptimizeRx anticipates at least 10% revenue growth year-over-year while maintaining gross margins between 58% and 62%.
OptimizeRx Corp. (Nasdaq: OPRX) announced a conference call on March 8, 2023, at 4:30 p.m. Eastern Time to discuss its fourth-quarter and fiscal year results for 2022. The financial results will be released prior to the call, which will include a Q&A session with management. OptimizeRx connects over 60% of U.S. healthcare providers and patients through its advanced health technology solutions, enhancing medication access and adherence. Interested parties can join the call via a toll-free number or webcast, and a replay will be available on the Investors section of the company's website for 12 months.
OptimizeRx Corp (Nasdaq: OPRX) announced that Karina Castagna, its senior VP of access and adherence, is included in MM+M’s 40 Under 40 List, recognizing her contributions to healthcare marketing. Castagna has enhanced physician access to digital solutions since joining OptimizeRx in 2021, effectively breaking down prescribing barriers. Her efforts led to a remarkable 300% increase in prescriptions and a 60% hike in prior authorization submissions for a specialty diabetes medication at one client Hub. The recognition ceremony will take place on February 16, 2023, at The Edison Ballroom in New York City.
OptimizeRx Corp (Nasdaq: OPRX) CEO Will Febbo will present at the J.P. Morgan Healthcare Conference on January 12, 2023. The company has reported winning six deals leveraging AI and Real World Evidence capabilities, anticipating over 100% year-over-year growth in RWE-related sales. OPRX emphasizes its extensive network, reaching over 60% of active prescribers, aiming to enhance patient outcomes through innovative technology. The firm remains committed to digital engagement in healthcare, striving for a shift from tactical to solution-based selling while maintaining strong partnerships with major pharma brands.
OptimizeRx Corp (Nasdaq: OPRX), known for its point-of-care technology solutions, will participate in several investor conferences. Key events include the Piper Sandler 34th Annual Healthcare Conference in New York City from November 29 to December 1, 2022, and the J.P. Morgan Healthcare Conference in San Francisco from January 9 to January 12, 2023. Management is available for one-on-one meetings during these events. OptimizeRx aims to enhance patient care by connecting healthcare providers and patients through innovative technology.
OptimizeRx Corp. (OPRX) reported Q3 2022 revenue of $15.1 million, a 6% year-over-year decline but an 8% quarter-over-quarter increase. Gross profit rose 4% to $9.4 million, with gross margins improving from 56% to 62%. The company generated $7.9 million in cash flow from operations in the first nine months of 2022 and has repurchased 1.1 million shares at an average price of $16.70. The 2022 revenue outlook remains between $62 million and $68 million, indicating 1% to 11% growth.
OptimizeRx Corp (Nasdaq: OPRX) announced its third annual Innovate4Outcomes event, set for December 1, 2022. Co-sponsored with Melinta Therapeutics, this virtual event will bring together healthcare providers and industry professionals to tackle Antimicrobial Resistance (AMR), identified by the WHO as a major global health challenge. Participants will collaborate in teams to devise solutions, with the winning concept receiving support for further development. This initiative underscores the company’s commitment to enhancing therapy access and adherence amid pressing healthcare issues.
OptimizeRx Corp (Nasdaq: OPRX) announced a conference call scheduled for November 8, 2022, at 4:30 p.m. ET to discuss its third-quarter financial results for the period ended September 30, 2022. The call will be hosted by OptimizeRx management, followed by a question-and-answer session. Investors can access details via a webcast or through toll-free and international numbers. This call follows the release of the financial results, which will be issued beforehand.
OptimizeRx specializes in point-of-care technology solutions that facilitate patient therapy adherence.
OptimizeRx (Nasdaq: OPRX) has announced successful results from a program utilizing its AI/real-world evidence technology to improve patient identification for specialty therapy. The initiative showed a 28% increase in therapy initiation per healthcare provider and identified 33% of new patients accurately. Key features of the program included earlier patient identification and data-driven qualification, enhancing communication between healthcare providers and patients. This advancement aims to address challenges in misdiagnosis and treatment delays for complex diseases.
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