Progressive Care Gains Long Term Care Contracts with Major Payors

Rhea-AI Summary

Progressive Care (OTCQB: RXMD) announced the successful acquisition of long-term care contracts with major payors for its long-term care division. This enables the company to boost sales and improve margins. CEO Jay Weisberg highlighted their strong patient care history and advanced data management as key success factors. The new pharmacy services will include clinical support, automated Rx refills, and same-day delivery. Additionally, the long-term care division complements their upcoming Remote Patient Monitoring initiative, enhancing patient care and outcomes.

Positive

• Acquired long-term care contracts with major payors, enhancing sales potential.
• Improved profit margins expected from new pharmacy services.

Negative

• None.

MIAMI, FL, May 04, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire –Progressive Care Inc. (OTCQB:RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, is excited to announce its long term care division gained all the necessary long-term care contracts with major payors.

See on website

“Our long history of enhanced patient care, as well as robust data management platform and logistics network are key elements that will facilitate the success of our long-term care business. The long-term care pharmacy contracts provide Progressive Care with an opportunity to significantly increase its sales that produce much better margins. Our Chief Operating Officer, Birute Norkute, has successfully executed on completing this complicated and tidies process and instituting final and imperative steps for the successful launch of our LTC marketing program. We are excited about LTC business and confident in our ability to deliver strong results.” stated Jay Weisberg, CEO of Progressive Care Inc.

PharmcoRx long-term care division pharmacy services include a combination of adherence tools, clinical pharmacy services, patient navigation and engagement, real-time collaboration with the patient’s caregivers, medication reconciliation post-discharge, monthly medication reviews, 24/7 access to clinical pharmacy support through the Company’s online platform, automated Rx refill management, specialty adherence packaging that includes the Company’s successful Smart-Pack adherence packaging and free same-day delivery.

Carlos Rangel, Head of Digital Transformation of Progressive Care Inc,. stated “The expansion into long-term care will complement perfectly with the company’s recently announced plan to expand into a Remote Patient Monitoring space. The capability to provide real-time insights from the high-risk patients will not only help physicians make well-informed decisions but will also enhance the patient experience and promote positive outcomes in a long-term care setting.”

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

FAQ

What is Progressive Care's new development in long-term care?

Progressive Care has secured long-term care contracts with major payors.

How will the new contracts impact RXMD's sales?

The new contracts are expected to significantly increase sales and improve profit margins.

What services are included in PharmcoRx's long-term care division?

Services include adherence tools, clinical pharmacy support, medication reviews, and same-day delivery.

How does the long-term care expansion benefit Progressive Care?

It positions the company for growth by enhancing patient care and supporting better outcomes.

What is the significance of Remote Patient Monitoring for RXMD?

It complements their long-term care expansion by providing real-time insights for high-risk patients.