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| RXMD Announces Another Sales Milestones for April 2018 |
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 Hot Stock to Watch |
Company: Progressive Care Inc. (OTCQB: RXMD)
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Last:
Price: 0.083
Change (%): + 0.00 (0.00)
Volume: 664,996 |
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Progressive Care Reports 30% Increase in Year-over-Year Prescriptions Filled During April 2018
MIAMI, May 17, 2018 (GLOBE NEWSWIRE) - Progressive Care Inc. (OTCQB:RXMD), a personalized healthcare services and technology company, today announced that the company experienced continued year-over-year growth in its revenue and number of prescriptions filled in the month of April 2018.
Wholly-owned subsidiary PharmCo, LLC filled approximately 22,000 prescriptions during the month of April, which is an increase of 30% over the same month last year. This resulted in the generation of nearly 1.6 million dollars in net revenues, which is an increase of 7% year-over-year.
Revenues and prescription counts continue to increase as the Company promotes its proactive patient engagement model to doctor’s offices and clinics who are looking to lower healthcare costs and provide quality service to their patients. Additionally, the company filled over $430,000 worth of prescriptions on behalf of 340B entities (not included in Net Revenues) in April, generating fees due to the pharmacy of approximately $18,000, which is over a 260% increase over the same month last year.
“We are proud to have experienced yet another month of significant growth in April. We are accustomed to aggressive formulary adjustments in April from insurance plans which generally places downward pressure on our revenue base,” said S. Parikh Mars, CEO of Progressive Care Inc. “We were able to offset this pressure through our unique ability to offer a full range of products and personalized suggested medication therapy adjustments as needed. This has allowed us to maintain patient and physician loyalty while also expanding our market share.”
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