Progressive Care Launches Native Remote Patient Monitoring Mobile App and Physician Portal to Remotely Manage Chronic and Transitional Care

Rhea-AI Summary

Progressive Care (OTCQB: RXMD) has launched its Remote Patient Monitoring (RPM) solutions, including the PharmcoMyRPM app and PharmcoRPM portal. These platforms allow healthcare providers to monitor chronic diseases and transitional care remotely. The integration enables real-time data collection from 5G devices measuring vital signs. The RPM market is projected to reach $175.2 billion by 2027, with the company estimating earnings of $120 per eligible Medicare patient monthly. CEO Alan Jay Weisberg stated this launch enhances patient-provider communication and decision-making.

Positive

• Launch of Remote Patient Monitoring platforms may capture a share of the growing $175.2 billion RPM market by 2027.
• Estimated gross billings of $120 monthly per eligible Medicare patient for RPM services.
• Integration of 5G devices and wearable technology enhances patient data monitoring capabilities.

Negative

• None.

MIAMI, FL, Nov. 01, 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 the launch of Remote Patient Monitoring (“RPM”) PharmcoMyRPM, a mobile app and patient portal, and PharmcoRPM, a web portal to help providers remotely manage patients’ chronic disease and transitional care.

The Company has successfully completed the integration of the PharmcoMyRPM patient portal and the PharmcoRPM physician portal, which includes a web platform and a native application available on the AppStore and Google Play. These portals allow staff of PharmcoRx, a subsidiary of Progressive Care, to connect patients to the Company’s new line of 5G-powered devices to remotely monitor patients’ blood pressure, heart rate, weight, blood glucose, and oxygen saturation in real-time. Physicians will also have the option to integrate 99% of existing wearable devices including Apple Health, Garmin, and Fitbit for broader patient monitoring needs.

In addition to remote patient monitoring, the PharmcoRPM physician portal allows the Company to provide Chronic Care Management monitoring services, generate billing reports based on time spent providing care, and connect directly with patients to analyze their progress.

“We want to improve communication between patients and providers in an environment that promotes patient-centered care. The platform provides a list of care tasks designed to incentivize patients to be more active while recording their progress through our connected devices,” stated Carlos Rangel, Head of Digital Transformation for PharmcoRx Pharmacy.

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. The Company’s experience in medication and therapy management and its active participation in data analytics would carry over directly into the RPM marketplace. Through its own analysis, the Company has identified a number of patients it is currently servicing as candidates for RPM services and plans to begin working with physicians toward their enrollment into remote patient monitoring. The Company is estimating the ability to generate gross billings of around $120 per eligible Medicare patient per month for RPM and approximately $100 per month for eligible Medicare patients qualifying for CCM (Chronic Care Management).

“Our RPM platform launch is a major step forward for our Company. We believe our existing patient and physician base will greatly benefit from these tools in their effort to achieve positive outcomes. Making informed decisions based on reliable real-time data is key for doctors to operate in the most effective and efficient ways. Progressive Care has differentiated itself from competitors in terms of its commitment to medication therapy and adherence management. Our reputation among healthcare professionals in this domain is one of our strongest advantages,” stated Alan Jay Weisberg, CEO of Progressive Care.

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

PharmcoRx Pharmacy
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

FAQ

What new services did Progressive Care (RXMD) launch?

Progressive Care launched Remote Patient Monitoring solutions, including the PharmcoMyRPM app and PharmcoRPM portal.

How does Progressive Care's RPM platform benefit healthcare providers?

It allows providers to monitor patients' chronic conditions remotely, enhancing communication and decision-making.

What is the expected growth of the RPM market according to Progressive Care's announcement?

The RPM market is projected to reach $175.2 billion by 2027.

How much does Progressive Care estimate it can bill Medicare patients for RPM services?

Progressive Care estimates gross billings of around $120 per eligible Medicare patient per month for RPM services.