Global healthcare systems have been taxed in recent years with aging populations seeking care in greater numbers. Big data and analytics have seen large increases in the market as healthcare stakeholders seek to use information to increase efficiency, lower costs, improve patient outcomes, and innovate. Frontline and independent providers have benefitted from improvements to their digital systems, but data insights are a rare commodity. Regardless of size, digitization of healthcare as global trend will encourage the usage of data analytics to improve care and allow us to compete in an intense healthcare market. Per Valuates Reports, the global healthcare analytics market was estimated be over $10 billion in 2019 and is expected to increase to over $40 billion by 2025.
Through our wholly owned subsidiary, ClearMetrX, we offer data management and reporting services to support healthcare organizations. Our 340MetrX offering includes data management and TPA services for 340B Covered Entities, pharmacy analytics, and programs to manage HEDIS Quality Measures including medication adherence. These offerings address the glaring need for frontline providers to understand best practices, patient behaviors, care management processes, and the financial mechanisms driving decisions. We deliver data access and also deliver actionable insights that providers and support organizations can use to improve their practice and patient care.
We believe that the key to performing data management is adopting a platform that can efficiently aggregate, index, and prepare data for pharmacy business and professional use. Through our PharmMetrX offering, we believe client pharmacies can leverage the extraction and use of data improving the quality of care for patients, while increasing the profitability of their client medical practices. We believe pharmacies, physician practices, MSOs, can benefit from our data management services in many ways:
1. Strategic Planning and Budgeting: Develop yearly strategic plans and roadmaps of financial contributions.
2. Performance Metrics: Create a dashboard of internal and external key performance metrics to manage the business.
3. Managed Care Reimbursement Profitability: Mine data to identify potential ways to increase reimbursements and boost profitability.
4. Pricing and Working Capital Strategy: Analyze millions of Rx SKUs to determine optimal prices to maximize revenue, profit, and use of working capital inventory.
5. Compliance: Perform desktop audits and analyses to address compliance trends and avoid or mitigate potential business and regulatory risks.
6. Shopper Insight: Identify insights that drive strategies for customer acquisition, retention, and optimization of best loyalty offerings. Identify best customers who can increase consumption basket size and frequency of spend.
7. Medication Management and Adherence: Develop programs and best practices to improve customer compliance and adherence, increase formulary compliance, avoid harmful drug interactions, remove duplications of therapies, avoid gaps, and lower patient overall healthcare spending.
8. Value-based Performance Tracking of patients with specific chronic conditions, medications or both: Create actionable performance reports to monitor, track, and trend pharmacy delivery of clinical services to meet payer contract and star ratings expectations.
9. Operational Optimization and Efficiency: Increase visibility into pharmacy operations and opportunities to identify and address “leakages in profitability.” Streamline operational processes to control cost and improve efficiency.
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Forward-looking Statements – This website contains forward-looking statements about our business. These forward-looking statements do not relate strictly to historical or current facts. Forward-looking statements involve risks and uncertainties and include statements regarding, among other things, our projected revenue growth and profitability, our growth strategies and opportunity, anticipated trends in our market and our anticipated needs for working capital. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “anticipate,” “estimate,” “plans,” “potential,” “projects,” “continuing,” “ongoing,” “expects,” “management believes,” “we believe,” “we intend” or the negative of these words or other variations on these words or comparable terminology. You should not put undue reliance on these forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those reflected in such statements including: risks associated with current and potential future healthcare reforms; risks relating to technology failures or breaches; aspects of our business which are outside, risks relating to management and key personnel changes including attracting and retaining key personnel; failure to comply with legal and regulatory requirements; risks relating to access to capital and credit markets; risks related to indebtedness; exposure to claims and liabilities; changes in industry pricing benchmarks; and other risks and uncertainties that are described in the Risk Factors section of our recently filed Form 10-12G, including the presentation of financial statements and notes thereto, and other reports we have filed with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov or by calling our Investor Relations department at (888) 919-7411 ext. 221. Forward-looking statements speak only as of the date they are posted to this website, unless an earlier date is indicated, and we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP FinancialMeasures–This presentationincludes certain “non-GAAP financial measures” as defined in Regulation G under the Securities Exchange Act of 1934. Schedules are attached that reconcile the non-GAAP financial measures included in this presentation to the most directly comparable financial measures calculatedand presentedin accordancewith Generally Accepted Accounting Principles in the United States. You should carefully read Progressive Care’s periodic and currentfilings on the OTCQB website for definitions and further explanation and disclosure regarding our use of non-GAAP financial measures and such filings should be read in conjunction with this presentation.
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