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| 2018 Optimism Outlined in Detailed RXMD CEO Letter |
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 Hot Stock to Watch |
Company: Progressive Care Inc. (OTCQB: RXMD)
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Last:
Price: 0.0187
Change (%): + 0.0002 (1.08)
Volume: 412,447 |
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Progressive Care Releases Open Letter to Shareholders
Open Letter to Shareholders Summarizes Recent Milestones
MIAMI, Jan. 16, 2018 (GLOBE NEWSWIRE) - Progressive Care Inc. (OTCQB:RXMD), through its subsidiaries Smart Medical Alliance, Inc. and PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long term care facilities, administration and practice management, utilization management, quality assurance, EHR Implementation, billing and coding, and health practice risk management, releases the following letter to Shareholders from the Company’s Chief Executive Officer, S. Parikh Mars:
Dear Progressive Care Shareholders,
We begin 2018 with optimism and an unflappable sense of purpose and urgency. We have worked steadily to lay a solid foundation upon which we can grow and flourish through an ever-changing healthcare environment. The company remained focused on its vision for the future of healthcare and innovative approach to shape the pharmacy model. We worked throughout the year to prepare our facility and develop the processes that will lead the way in the pharmacy industry.
We also understand that you, our shareholders, have deservedly high expectations for achievement. To that end, we worked to elevate the status of Progressive Care to ensure that the investing public can look at the Company and rely on the information being presented. We thank you for the trust and support and we hope to continue to build on the momentum and deliver results we all can be proud of.
Significant Achievements
Toward the end of 2016, we had completed the build-out of the warehouse space and installed the Script Pro automation system. With necessary infrastructure and technology upgrades in place, the Company, through its subsidiary PharmCo, LLC, set out to achieve an ambitious set of goals. The beginning of the year saw quick implementation of new rules and regulations put in place by the Centers for Medicare and Medicaid Services (CMS) and Pharmacy Benefits Management (PBM) companies intended to lower healthcare costs by restricting networks to exclude independent pharmacies, lowering reimbursements, increasing direct and indirect remuneration fees (DIR), and transitioning to shared-risk models for healthcare provision. It was immediately unclear the fate of the Affordable Care Act (ACA) which lead many companies to hold off investing in the acquisition of ACA customers.
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