Progressive Care Reports
30% Increase in
Year-over-Year
Prescriptions Filled During April
2018
Miami,
FL -- May 17,
2018 -- InvestorsHub 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 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."
"Progressive Care
continues to
experience reimbursement compression across the medication spectrum;
however,
revenue has continued to increase as a result of
our
dedicated sales
efforts, ongoing medication diversification, and
expansion of our
service offerings." added Mars.
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.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About Progressive Care, Inc.
Progressive Care
Inc. (OTCQB:RXMD),
through its PharmCo, LLC, is a South Florida health services
organization and provider of prescription pharmaceuticals,
compounded medications, provider of tele-pharmacy services, the
sale of anti-retroviral medications, medication therapy management
(MTM), the supply of prescription medications to long term care
facilities, and health practice risk management.
Cautionary Statement Regarding 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.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. 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:
Tory Patterson,
CMW Media
Public Relations
Consultant
Tory@cmwmedia.com
www.cmwmedia.com
Investor Relations Contact:
Armen
Karapetyan, Progressive Care
Senior Advisor
Business Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com