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| New Client RXMD Looks to Finish 2017 Strong on with Excellent November Sales Figures |
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 Hot Stock to Watch |
Company: Progressive Care Inc. (OTCQB: RXMD)
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Last:
Price: 0.0155
Change (%): + 0.0009 (6.21)
Volume: 264,777 |
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Progressive Care Reports Strong November Sales to Begin End of Year Rally
MIAMI, Dec. 15, 2017 (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, announces over $1.7 million in net revenues on nearly 21,000 prescriptions filled in November 2017.
PharmCo, LLC filled just under 21,000 prescriptions during the month of November, generating approximately 1.7 million in net revenues. Prescriptions filled increased by nearly 13% over the same month last year. The company also filled over $400,000 worth of prescriptions for 340B entities, generating fees to the pharmacy of just over $17,000. PharmCo has achieved much of its growth through targeted marketing to new doctor’s offices and clinics.
The pharmacy is expecting to achieve increased growth through the remainder of the year, with momentum propelling the company into the New Year. This is based on feedback from current and prospective health care providers looking to improve their performance rating with insurance carriers. Medicare and commercial insurance companies are elevating the performance requirements that all providers must adhere to in order to achieve bonuses. Adherence to medication therapies are a significant portion of these performance measures, which necessitates relationships with pharmacies who have high performance ratings in adherence and medication therapy management (MTM).
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