RXMD NEWS OUT
MIAMI, FL -- April 21, 2017 -- InvestorsHub NewsWire -- Progressive Care Inc. (OTC PINK: 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), and the supply of prescription medications to long term care facilities, administration and practice management, utilization management, quality assurance, EHR Implementation, billing and coding, health practice risk management, announces stable growth through March 2017.
PharmCo filled over 18,500 prescriptions and realized revenues of over $1.6 million for the month, which is a 10% increase over the same month last year. The Company has been adapting to changing reimbursement models and best practices through the first quarter of the year. Some of these adaptations include aggressively transitioning patients to 90 day supplies and adopting more restrictive formulary recommendations. This has had an impact on prescription counts while allowing the pharmacy to maintain baseline revenues.
The first quarter has been better than expected, stated S. Parikh Mars, CEO. Insurance companies have modified formularies and updated compliance models that are significantly more limiting than in previous years. However, we are accustomed to anticipating these changes and have quickly switched gears to meet the current requirements of the PBMs with only a minimal effect on our financial performance. With deductible season behind us, we are optimistic that our diligence in the coming months will yield beneficial results.
AI
