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) announced that its Evidence-Based Physician Engagement solution has been recognized as one of the most innovative products of the year in life sciences by PM360. The solution utilizes AI-driven technology to assist healthcare providers with real-time insights, aiding in identifying patients needing specific therapies and improving adherence. The platform has seen early success with several enterprise clients onboarded, indicating a growing demand for technology that enhances patient outcomes. This recognition underscores the company's role in innovating healthcare delivery.
OptimizeRx Corp. (Nasdaq: OPRX) has announced internal management changes aimed at strengthening its operational and financial strategy. CEO Will Febbo highlighted a 45% compounded annual growth rate over the past three years and a market cap nearing $1 billion. Ed Stelmakh has joined as CFO and COO, focusing on key performance indicators and scaling operations. Miriam Paramore will transition to an advisory role, having successfully transitioned her responsibilities. The leadership team aims to leverage technology for improved patient health outcomes in the growing digital healthcare market.
OptimizeRx Corp (Nasdaq: OPRX) announced a remarkable 257% revenue growth, attributed to brand acquisition and product adoption, during the recent Deloitte Technology Fast 500 ranking announcement.
CEO William Febbo expressed confidence in the company’s growth trajectory, emphasizing their position in the digital point-of-care sector. The Deloitte award is a recognition of the top 500 fastest-growing tech companies in North America, showcasing OptimizeRx's robust performance from 2017 to 2020.
OptimizeRx Corp (Nasdaq: OPRX) announced its participation in the Piper Sandler 33rd Annual Virtual Healthcare Conference, taking place from November 22 to December 2, 2021. The management team will engage in presentations available to registered attendees and hold 1x1 meetings through the conference platform. OptimizeRx is known for its point-of-care technology solutions aimed at improving patient engagement and therapy adherence, reaching over 60% of U.S. healthcare providers through its therapy initiation system.
OptimizeRx Corp. (Nasdaq: OPRX) is hosting its second annual Innovate4Outcomes event on December 9, 2021, from 1:00 PM to 4:30 PM ET. This virtual workshop aims to address patient access and support challenges in U.S. healthcare, bringing together pharmaceutical executives, healthcare providers, and advocacy leaders. The event will feature collaborative sessions to develop actionable solutions for systemic healthcare challenges. Notable advocacy groups like I AM ALS and RESOLVE will participate, showcasing their experiences to shape better patient outcomes.
OptimizeRx Corp. (Nasdaq: OPRX) reported a 53% revenue increase to $16.1 million for Q3 2021, compared to $10.5 million in Q3 2020. Year-to-date revenue rose 52% to a record $41.0 million. Gross profit grew 51% to $9.1 million, though gross profit margin slightly decreased to 56.3%. The company achieved a non-GAAP net income of $1.6 million, or $0.09 per share. Cash and equivalents increased to $85.0 million. The number of brands utilizing its solutions rose to 182 from 140 in the previous quarter.
OptimizeRx Corp (Nasdaq: OPRX) released an analysis highlighting the barriers to therapy initiation and persistence for multiple sclerosis (MS) patients. The research underscores the significance of early treatment, which can slow disease progression and mitigate new brain damage. Challenges such as misdiagnosis and high costs hinder timely treatment. The analysis suggests that leveraging real-world data and AI-driven solutions could enhance diagnosis and support for patients, ultimately improving adherence to therapy. The median annual cost of branded disease-modifying therapies exceeds $90,000, creating financial barriers.
OptimizeRx Corp. (Nasdaq: OPRX) will hold a conference call on November 9, 2021, at 4:30 p.m. ET to discuss its third-quarter financial results for the period ending September 30, 2021. The call will include a Q&A session and will be available via webcast. OptimizeRx offers digital health solutions connecting healthcare providers and patients, with a focus on therapy initiation and adherence programs. The company emphasizes its AI-driven marketing efforts to enhance patient engagement and treatment adherence.
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