The Company has successfully completed the integration of the PharmcoMyRPM patient portal and the PharmcoRPM physician portal, which includes a web platform and a native application available on the AppStore and Google Play. These portals allow staff of PharmcoRx, a subsidiary of Progressive Care, to connect patients to the Company’s new line of 5 G-powered devices to remotely monitor patient’s blood pressure, heart rate, weight, blood glucose, and oxygen saturation in real time. Physicians will also have the option to integrate 99% of existing wearable devices including Apple Health, Garmin, and Fitbit for broader patient monitoring needs.
In addition to remote patient monitoring, the PharmcoRPM physician portal allows the Company to provide Chronic Care Management monitoring services, generate billing reports based on time spent providing care, and connect directly with patients to analyze their progress.
“We want to improve communication between patients and providers in an environment that promotes patient-centered care. The platform provides a list of care tasks designed to incentivize patients to be more active while recording their progress through our connected devices” stated Carlos Rangel, Head of Digital Transformation for PharmcoRx Pharmacy.
According to new research from MarketsandMarkets, the global RPM market is projected to reach $175.2 billion by 2027, growing at a robust 27% compound annual growth rate over the next 5 years. The National Center for Biotechnology Information estimates that approximately 67% of Medicare beneficiaries have two or more chronic conditions accounting for 94% of Medicare spending. The Company’s experience in medication and therapy management and its active participation in data analytics would carry over directly into the RPM marketplace. Through its own analysis the Company has identified a number of patients it is currently servicing as candidates for RPM services and plans to begin working with physicians towards their enrollment into remote patient monitoring. The Company is estimating the ability to generate gross billings of around $120 per eligible Medicare patient per month for RPM and approximately $100 per month for eligible Medicare patients qualify for CCM (Chronic Care Management).
“Our RPM platform launch is a major step forward for our Company. We believe our existing patient and physician base will greatly benefit from these tools in their effort to achieve positive outcomes. Making informed decisions based on reliable real time data is key for doctors to operate in the most effective and efficient ways. Progressive Care has differentiated itself from competitors in terms of its commitment to medication therapy and adherence management. Our reputation among healthcare professionals in this domain is one of our strongest advantages,” stated Alan Jay Weisberg, CEO of Progressive Care.
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.progressivecareus.com
PharmCo, LLC
https://www.pharmcorx.com ClearMetrX
https://www.clearmetrx.com
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. 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:
Carlos Rangel
carlosr@pharmcorx.com
Investor Relations Contact:
Copyright 2022 © Progressive care inc.
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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