PROGRESSIVE CARE Stock Price, News & Analysis

RXMD OTC

Company Description

Overview of Progressive Care Inc. (RXMD)

Progressive Care Inc. operates as a specialized healthcare services organization based in South Florida. Through its subsidiaries, Smart Medical Alliance, Inc. and Pharmco, LLC, the company delivers a broad suite of health solutions that include third-party administration, data management, tele-pharmacy services, and comprehensive 340B contracted pharmacy services. With a focus on personalized care, Progressive Care addresses the evolving needs of patients, healthcare providers and long-term care facilities by ensuring efficient prescription pharmaceutical services and tailored practice management solutions.

Core Service Offerings

The company is dedicated to providing an integrated range of services and solutions designed to enhance operational efficiencies and patient care standards. Key service areas include:

Tele-Pharmacy: Enabled by advanced technology platforms, Progressive Care offers remote pharmacy services that ensure continuous support to patients and providers alike.
340B Contracted Pharmacy Services: The company robustly manages 340B contracts to facilitate cost-effective medication therapy management and compliance for covered entities.
Third-Party Administration (TPA): With expertise in practice management, the company provides data management and billing services tailored to the healthcare environment.
Risk Management & Quality Assurance: Progressive Care implements comprehensive risk and quality management protocols to safeguard patient care and enhance operational reliability.
Prescription Management: Through its PharmcoRx pharmacies, the company ensures the supply, dispensing, and management of prescription pharmaceuticals and compounded medications.

Industry Position and Integrated Approach

Progressive Care Inc. has established itself as a critical player within the healthcare services sector. Its operations are strategically positioned to support the growing complexity of modern healthcare through:

Comprehensive Care Integration: The seamless integration of tele-pharmacy, medication therapy management, and third-party administration enhances both care delivery and patient adherence.
Data-Driven Excellence: The company leverages advanced data management and EHR implementation techniques to optimize billing, coding, and overall practice management processes.
Robust Regulatory Compliance: By focusing on stringent risk management protocols, Progressive Care maintains high standards in quality assurance and compliance within the dynamic healthcare regulatory landscape.

Operational Dynamics and Strategic Insights

Progressive Care Inc. operates in a sector marked by rapid technological evolution and escalating patient expectations. The company generates revenue primarily through comprehensive service contracts, prescription sales, and management fees associated with its 340B contracted pharmacy services. Its emphasis on personalized and quality-driven care distinguishes it in a competitive environment populated by similar healthcare providers.

Relationship with NextPlat Corp

In recent developments, Progressive Care became a subsidiary of NextPlat Corp. This strategic alignment has positioned Progressive Care to benefit from further resource integration and shared efficiencies, while continuing to deliver specialized healthcare solutions. The business combination with NextPlat reinforces Progressive Care's ability to scale its operations and extend its market reach in the technology-driven healthcare and prescription management spheres.

Commitment to Quality and Patient Care

The company demonstrates a steadfast commitment to improving patient outcomes through innovative service delivery and enhanced access to quality care. Whether it is managing large-scale 340B programs or providing tele-pharmacy services that bridge the gap between patients and healthcare providers, Progressive Care Inc. continues to build trust among its stakeholders by maintaining the highest standards of expertise, experience, and operational transparency.

Stock Performance

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Performance 1 year

$13.5M

Market Cap

6.4M

Shares outstanding

Latest News

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September 16, 2024

2.27%

NextPlat Announces Results of Annual Meeting of Stockholders

September 16, 2024

2.27%

Progressive Care Inc. Announces Results of Special Meeting of Stockholders

August 14, 2024

0.72%

NextPlat Reports 474% Increase in Consolidated Q2 Revenues to $17 Million and Record 34.2% Quarterly Margins; $70 Million in 2024 Annual Revenues Expected

August 14, 2024

0.72%

Progressive Care Inc. Announces Second Quarter 2024 Revenues of $13.5 Million, an Increase of 17% as Gross Margin Expands to 35%

earnings

May 20, 2024

8.60%

Global Telesat Begins Sales of SpaceX's Starlink as Authorized Reseller Through Joint Venture Agreement with Pivotel Solutions Inc. (dba Pulsar)

May 15, 2024

6.39%

Progressive Care Inc. Announces Record First Quarter 2024 Revenues of $14.6 Million, an Increase of 28% Over First Quarter 2023 Results

earnings

SEC Filings

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No SEC filings available for PROGRESSIVE CARE.

Financial Highlights

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Frequently Asked Questions

What is the current stock price of PROGRESSIVE CARE (RXMD)?

The current stock price of PROGRESSIVE CARE (RXMD) is $2.11 as of February 7, 2025.

What is the market cap of PROGRESSIVE CARE (RXMD)?

The market cap of PROGRESSIVE CARE (RXMD) is approximately 13.5M.

What are the core services offered by Progressive Care Inc.?

Progressive Care provides a range of healthcare services including third-party administration, tele-pharmacy, 340B contracted pharmacy services, prescription management, and risk management. These services are designed to support healthcare providers and improve patient adherence.

How does Progressive Care manage its 340B contracts?

The company leverages its expertise in 340B contracted pharmacy services to manage medication therapy and ensure compliance for covered entities. This specialized approach allows for efficient cost management and enhanced patient care.

What role does tele-pharmacy play in Progressive Care's operations?

Tele-pharmacy is a cornerstone of Progressive Care's service offerings, enabling remote prescription dispensing and consultation. This technology-driven service improves access to care and supports real-time patient management.

How does Progressive Care integrate with NextPlat Corp?

Progressive Care became a subsidiary of NextPlat Corp, aligning its operations with broader e-commerce and technology initiatives. This integration supports operational synergies and enhances service capabilities in both healthcare and technology markets.

What measures does Progressive Care take to ensure quality and risk management?

The company implements comprehensive quality assurance and risk management protocols within its practice management and pharmacy services. These measures ensure compliance with regulatory standards and promote optimal patient outcomes.

Who are the primary customers of Progressive Care Inc.?

Progressive Care primarily serves healthcare providers, long-term care facilities, and 340B covered entities. Its services cater to a wide range of stakeholders seeking enhanced prescription management and healthcare quality solutions.

How does data management contribute to the company’s success?

Data management is crucial for optimizing billing, coding, and EHR implementation processes. This data-driven approach enables Progressive Care to deliver efficient, personalized healthcare services while maintaining operational transparency.

What differentiates Progressive Care in the competitive healthcare market?

The company stands out by offering an integrated suite of specialized services including tele-pharmacy, robust 340B contract management, and comprehensive practice management solutions. Its focus on quality, efficiency, and regulatory compliance adds to its competitive advantage.