Replies to post #126258 on Progressive Care Inc (RXMD)

[TheSerb]

Progressive Care Inc. Doubles Revenue: Reports $3.3 Million for June 2019
BY GlobeNewswire
— 8:00 AM ET 07/17/2019
MIAMI, July 17, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
Loading...
Loading...
) , a personalized healthcare services and technology company, today announced record revenues of $3.3 Million for June 2019 and an 80% increase in prescriptions filled at nearly 46,000 total.

June 2019 represents the first month of consolidated revenue for Progressive Care ( RXMD
Loading...
Loading...
), which includes 4 locations in Florida. The Company recorded a 100% increase in gross revenues at $3.3 million exclusive of PBM fees and nearly 46,000 prescriptions filled. Prescriptions filled have grown steadily for all locations, especially PharmCo Palm Beach which increased by 38% and yielded a 165% increase in revenues.

“This was the first month of having 4 locations under our umbrella,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. ( RXMD
Loading...
Loading...
) “We are more than pleased with the performance last month as it exceeded our expectations. Yet, we are focused on the potential for growth and are working on major big picture goals throughout the rest of the year.”

For more information about Progressive Care ( RXMD
Loading...
Loading...
), please visit the company’s website.

Connect and stay in touch with us on social media:

Progressive Care Inc. ( RXMD
Loading...
Loading...
)
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS

[TheSerb]

Progressive Care Inc. Reports Record $7 Million Revenue for Q2 2019
BY GlobeNewswire
— 9:49 AM ET 08/15/2019
MIAMI, Aug. 15, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
Loading...
Loading...
) , a personalized healthcare services and technology company, today issued 2nd Quarter 2019 Quarterly Report Conference Call highlights.

The Company announced nearly $7 million in net revenues, a 40% increase over the second quarter of 2018. Prescriptions filled increased 46% to 98,000 during 2nd quarter 2019. The Company reported a non-GAAP loss of $368,00 for the six month period ending June 30, 2019, which is caused by decreasing reimbursements and increasing fees associated with insurance prescription claims resulting in a reduction of net gross margins to approximately 21% for 2019. This loss is partially offset by the addition of Family Physicians Rx (FPRX) which carries higher gross profit margins and net profitability.

The Company completed the acquisition of FPRX on June 1st, 2019, at which time $1 million was released from escrow. FPRX has lower relative operating costs and higher gross margins than the Company as a whole and is poised to add cash flow and profitability to financial performance of the Company through the rest of the year. The Company recorded approximately $1.4 million in sales from FPRX for June 2019 and estimates that $9.8 million in revenues will be added in total for 2019. FPRX will also add approximately $300,000 in net profitability to the bottom line of the Company.

The Company reiterated to listeners that it is focused on expansion in other geographical areas of Florida and is exploring opportunities in Georgia. These areas present opportunities for better reimbursements and avenues for securing revenue streams not directly tied to insurance billing. The Company continues to pursue the development of its own CBD line through local manufacturers that abide by state regulations. In the interim term the pharmacy does offer access to 4 CBD brands that is has verified the purity and analysis. The pharmacy is actively promoting its expertise in CBD therapies as well other herbal and OTC products to increase the flow of cash-based purchases.

A dedication to performance scores with insurance carriers like Humana continue to be a bright spot for the Company. Humana is the only carrier which offers the opportunity to earn all DIR fees back through performance. Performance metrics have not yet been released for 2019, resulting in over $200,000 in Humana DIR fees being charged to net revenues for the first 6 months of 2019. The Company currently expects to receive the bulk of these fees plus a bonus in the 4th Quarter of 2019.

The Company discussed 340B contracts during the call, explaining that new contracts have been signed to bolster the profitability of the Company. The Company intents to expand its 340B offerings by showcasing its expertise in compliance in accounting which is needed by covered entities subject to increasing audits from regulating agencies.

Other opportunities for growth include indications of interest in the Company’s Tele-PharmCo and Discharge Rx programs by hospitals and large-scale clinics. Telepharmacy is being recognized in Florida as way of improving care in rural parts of the state and the Company is working to secure the ability to provide our services virtually to these areas without the need of additional physical brick and mortar pharmacies. Satellite offices and digital kiosks will allow the Company to expand its delivery capabilities throughout Florida at lower costs than establishing new stand-alone pharmacies.

“2019 has presented new challenges and opened new doors,” said S. Parikh Mars, CEO of Progressive Care ( RXMD
Loading...
Loading...
). “We are pushing with great intensity to increase revenues across the board by focusing on avenues with greater gros

[TheSerb]

Progressive Care Inc. Reports Record Revenue of $3.4 Million for July 2019
BY GlobeNewswire
— 8:07 AM ET 08/21/2019
MIAMI, Aug. 21, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
Loading...
Loading...
) , a personalized healthcare services and technology company, today announced record revenues of approximately $3.4 million for July 2019 and an 73% increase in prescriptions filled at over 46,400 total.

The Company recorded an 88% increase in gross revenues at $3.4 million exclusive of PBM fees and over 46,000 prescriptions filled. The Company has been actively pursuing growth strategies that will enhance our core business. We are currently working to optimize profitability by focusing sales efforts on patients whose medication benefits are managed by PBMs that have sustainable reimbursement rates or do not charge excessive fees.

“We have aggressively pursued sales and prescription growth throughout the year,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. ( RXMD
Loading...
Loading...
) “While we feel that growth is in our best interest, it is important that we make gains in the right way. By presenting ourselves to patients enrolled in drug benefit programs that adequately compensate the pharmacy, we will be able to improve our quality of care while also increasing our bottom line.”

For more information about Progressive Care ( RXMD
Loading...
Loading...
), please visit the company’s website.

Connect and stay in touch with us on social media:

Progressive Care Inc. ( RXMD
Loading...
Loading...
)
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS

[TheSerb]

Progressive Care Inc. Subsidiaries PharmCo and Family Physicians Ranked in the Top 25% in the Nation by Humana
BY GlobeNewswire
— 8:05 AM ET 09/12/2019
MIAMI, Sept. 12, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
Loading...
Loading...
) , a personalized healthcare services and technology company, today announced that its wholly owned subsidiaries PharmCo, LLC and Family Physicians Rx (FPRX) have met all four of the performance measures and is in the top 25% of the nation evaluated by Humana Inc., a leading health and well-being company, as part of its Rx Quality Network program.

Provided by Humana Pharmacy Solutions, a division of Humana Inc., the Rx Quality Network focuses on the health outcomes of patient care related to medication adherence, in addition to rewarding pharmacies for adherence performance. The program aims to partner with participating pharmacies to improve member adherence in targeted drug classes, which may result in higher-quality care. The quality-based network rewards pharmacies on performance and establishes their pharmacy in-network/preferred for PDP/MAPD plans.

Scores are based on the pharmacy’s ability to ensure that patients are adherent with prescribed therapies for chronic conditions like hypertension, diabetes, and high cholesterol. For example, if 95% of the pharmacy’s patients have taken their recommended dose of a statin therapy, that pharmacy would be ranked in the top 25% and thus be eligible for maximum performance payout for that metric.

PharmCo (Miami) received the following performance scores for the months of January 2019 - June 2019 (The percentages in green denote the percentage of adherent Humana patients using the pharmacy. The percentile denotes the ranking of the pharmacy in the Humana network):

http://ml.globenewswire.com/Resource/Download/48717a27-a6f9-436b-93df-3280b157493c

Family Physicians Rx received the following performance scores for the months of January 2019 - June 2019:

http://ml.globenewswire.com/Resource/Download/d3283bf3-b962-47c2-8176-fdebe95e160b

PharmCo Rx 1002 (Palm Beach) did not meet 3 out of the 4 measures for the period January – June 2019. This location was negatively impacted by an influx of new patients switching to the pharmacy in May and June 2019 who had been non-adherent with medication regimens during the year. Many of the patients came to PharmCo at the recommendation of their physician as result of the Company’s reputation for improving patient health outcomes and adherence. The Company believes that improving the medication therapies of these patients through the remainder of the year will help improve scores overall for the annual measurement period.

“We are very proud that we have hit all of our performance metrics for the first measurement period of 2019 and that PharmCo and FPRX has ranked in the top 25% of the nation in back to back Humana evaluations,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. ( RXMD
Loading...
Loading...
) “These latest performance metrics are a direct reflection of our efforts to provide quality customer service and position our pharmacies as a physician’s first choice when it comes to choosing a pharmacy provider for their patients.”

Go to Humana.com/Pharmacy to learn more about Humana Pharmacy Solutions and its Rx Quality Network program.

For more information about Progressive Care ( RXMD
Loading...
Loading...
), please visit the company’s website.

Connect and stay in touch with us on social media:

Progressive Care Inc. ( RXMD )
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS

PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx

About Progressive Care Inc. ( RXMD
Loading...
Loading...
)
Progressive Care Inc. ( RXMD
Loading...
Loading...
) , 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.

About Humana Pharmacy Solutions
Humana Pharmacy Solutions, a division of Humana Inc., manages traditional pharmacy benefits with member-focused strategies to yield savings in pharmacy and total health expense. Providing prescription coverage for both individuals and employer groups, Humana Pharmacy Solutions strives to give members access to the medicine they need while offering guidance on clinically proven, therapeutically equivalent drugs that bring better value to the member and the customer. For more information visit www.Humana.com/Pharmacy.

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. ( RXMD
Loading...
Loading...
), 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:
Kathleen Gonzales, CMW Media
[e-mail]
www.cmwmedia.com

Investor Relations Contact:
Armen Karapetyan, Progressive Care ( RXMD
Loading...
Loading...
)
Senior Advisor Business Development
[e-mail]
www.progressivecareus.com
www.pharmcopharmacy.com

[TheSerb]

Progressive Care Inc. Announces $3.7 Million Gross Revenue for August 2019
BY GlobeNewswire
— 8:00 AM ET 09/24/2019
MIAMI, Sept. 24, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
Loading...
Loading...
) , a personalized healthcare services and technology company, today announced further growth year-over-year in revenue and number of prescriptions filled for August 2019.

August 2019 sales continued to increase with $3.7 Million in gross revenue and approximately 47,000 prescriptions filled between the 4 locations in Florida. Gross revenue does not include PBM clawbacks for DIR or other fees. Revenues increased by 94% over the same month last year and prescriptions filled increased 62%. These increases are attributable to the acquisition of FPRX in June 2019 as well as organic growth in same store operations.

“The Company continues to excel in the pharmacy industry,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. ( RXMD
Loading...
Loading...
) “Although we are proud of our overall achievements this year, there is still urgency to do better and realize the true potential of this enterprise. We are focused on delivering innovative solutions to healthcare market and look to capitalize on strategic and transformative relationships.”

For more information about Progressive Care ( RXMD
Loading...
Loading...
), please visit the company’s website.

Connect and stay in touch with us on social media:

Progressive Care Inc. ( RXMD
Loading...
Loading...
)
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS

PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx

[TheSerb]

Progressive Care Inc. Announces Formation of RXMD Therapeutics Inc. Specializing in Cannabinoid-Based and Alternative Nutraceutical Products
BY GlobeNewswire
— 8:00 AM ET 10/01/2019
MIAMI, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Progressive Care Inc. ( RXMD
Loading...
Loading...
) , a personalized healthcare services and technology company, today announces formation of its wholly owned subsidiary, RXMD Therapeutics Inc., specializing in cannabinoid-based and alternative therapy product lines.

“We are excited to make this official announcement, RXMD Therapeutics Inc. has been in the planning stages this past year” said S. Parikh Mars, CEO of Progressive Care Inc. ( RXMD
Loading...
Loading...
) “We believe we have finally found a pathway where we can provide cannabinoid and homeopathic products that meet our strict quality requirements while also being able to manage these therapies from a health and wellbeing perspective.”

Progressive Care Inc. ( RXMD
Loading...
Loading...
) will develop and produce proprietary cannabinoid and homeopathic products that will be solely offered from RXMD Therapeutics Inc. The first line of production will consist of tinctures, skin creams, roll-ons and gel capsules which are the dosage forms most easily managed by retail patients. RXMD Therapeutics brands will be tested for consistency and quality assurance prior to release and periodically thereafter.

The formation of RXMD Therapeutics Inc. was discussed with Progressive Care Inc.’s shareholders during the first quarter 2019 quarterly report conference call on May 15, 2019. The Company announced plans to market current CBD brands and leverage the cash buying customer base to fortify against insurance rate compression and increase profitability. The Company discussed plans to produce an exclusive line of products that incorporates the Company’s brand and mission to further develop its core market base and healthcare capabilities.

“2019 has moved at an unprecedented pace,” said S. Parikh Mars, CEO of Progressive Care ( RXMD
Loading...
Loading...
). “In the past 4 months, Progressive Care ( RXMD
Loading...
Loading...
) has doubled in size in almost every measurable way, not only gaining sales, locations, or economies, but a wealth of talent that includes expertise in pharmaceutical logistics, operational management, and clinical awareness. We believe that offering quality natural products is a logical step forward in our development and is consistent with our mission to elevate healthcare.”

For more immediate updates on the company’s media coverage, connect with Progressive Care ( RXMD
Loading...
Loading...
) and PharmCo on social media:

Progressive Care Inc. ( RXMD
Loading...
Loading...
)

[Jimmy Quick]

ONE WORD "EXPANSION"
Those numbers were already in the post, nothing new.
Everyone here knows about the losses, but everyone here also knows why.

*****EXPANSION, EXPANSION, EXPANSION*****

Which means RXMD True Long-Term Investors are:

Knock, knock, knockin' on heaven's door
Knock, knock, knockin' on heaven's door
Knock, knock, knockin' on heaven's door
Knock, knock, knockin' on heaven's door

Total assets have also increased by over $8.8 million during that same (since 2016) time frame, with location acquisitions, new headquarters, etc. Which TY by the way, should help explain the loses that have been recognized. Can't expand locations without expenditures. Was just Miami, now it is Miami, Palm Beach, Davie, and Orlando, soon very likely to be Atlanta, GA.

Total Assets December 31, 2016: $2,610,167
Total Assets June 30, 2019: $11,415,046

Yep that's a $8,804,879 TOTAL ASSETS increase or 337% TOTAL ASSET increase since December 31, 2016.

Then add all of this great stuff, showing expansion and increases of market share. Company is doing everything right and heading back to profitability, post acquisition through economies of scale and market expansion. After all they are still just an OTCQB stock priced at $.045 range, but in Super growth mode! CBD and Nutraceuticals not included in any figures below that were just announced October 1 2019.

As everyone knows, this isn't some fly by night company, they have been around since 2010, and just recently went into aggressive expansion mode to acquire locations all across Florida and in neighboring states, with goal of becoming a Nationally recognized brand name. And what a name it is. PharmcoRX via ticker symbol RXMD.

RXMD Just created this new Corporation even on Monday to sell their CBD and Nutraceuticals.


Scripts and Revenues are Booming


Profits are Coming! Which means more Expansion.