The healthcare market moves at such a fast pace it can make anyone’s head spin. With a new federal administration and recent acquisitions by bigwigs like CVS, it’s time to start shedding more light on companies who are making their mark in a competitive space amidst all this constant change. Progressive Care Inc., headed by CEO S. Parikh Mars, managed to achieve $1.7 million in net revenue in November alone from the thousands of prescriptions filled during the month. Their year-over-year growth has been consistently positive, with revenue being up 10% in 2017 alone. Mars attributes their success and growth based on their many initiatives taken over the past year, and she’s optimistic about their future for some very good reasons.
Attention to Detail
Specializing in general prescriptions, medications, and administration support, Progressive Care Inc. is positioning itself to be a total solution for healthcare professionals in Florida and beyond. They were recently able to complete financial audits so help them successfully register on the OTCQB (under RXMD.) Progressive Care Inc. has also managed to secure more non-resident licenses so they can operate in more states outside of their headquarters. Mars plans to continue the audits and the acquisition of new licenses for 2018 as well.
To that end, Progressive Care Inc. has already been able to expand their business to Palm Beach County, an area that includes West Palm Beach and Boca Raton. They believe that these efforts will encourage investors to take another look at their business. With CVS acquiring Aetna and Amazon rumored to be on the prowl for a similar deal, this step forward could mean big things for Progressive Care Inc. in the New Year. See how their business model is a winning combination for patient care and for healthcare profitability, and why doctors have really started paying attention to how they operate.
When it comes to patient care, much of the onus is typically put on the patient. This type of approach often leads to confusion and poorly followed treatment plans which is why Progressive Care Inc. doesn’t rely on traditional solutions. Mars highlights the company’s ability to take charge of the situation by calling patients about their prescriptions to ensure they understand how they’re meant to be taken.
They have a tele-pharmacy service that allows patients to virtually communicate with the pharmacy. This type of benefit not only facilitates relationships between patient and pharmacist, it also increases communications for pharmacies and doctors. Progressive Care Inc. even sends a pharmaceutical technician to a patient’s home to advise a patient on the right course of treatment. Progressive Care Inc. is the provider of drugs for everything from HIV to Hepatitis B. The more compliance they see, the more lives they save. One of Progressive Care Inc.’s specialties is in risk management, and this type of hands-on approach is exactly what it takes to stay solvent.
This type of customer support not only encourages better relationships between the company and their customers, it also ensures prescriptions are being fulfilled on time. Doctors feel comfortable recommending them to their patients because they know they’ll get the 5-star treatment. It’s just part of the reason why Progressive Care. Inc. saw a 13% increase in prescriptions in November from the previous year. One of the company’s subsidiaries, PharmCo, has seen continued growth by marketing to new doctor’s offices and clinics. By establishing a ubiquitous presence in the healthcare space, investors can expect the company to continue improving upon and expanding its reputation and reach.
1-4-18 SmallCapVoice Interview with Progressive Care, Inc. (RXMD)
Onward and Upward
Progressive Care Inc. understands the potential implications of new regulations, especially considering the repeal of the individual mandate. But after careful consideration, Mars still believes that their company can hold strong against the potential dip in the numbered of insured persons in the US. She firmly believes that Medicare enrollment will continue to remain strong. The future of healthcare will always be difficult to predict, but the trends in the industry are easy to spot.
As more and more major conglomerates acquire pharmaceutical companies, it puts Progressive Care Inc. in a prime position to be wooed by larger companies. They’ve already added two new board members with plenty of executive experience to advise leaders on the most profitable moves for the foreseeable future. The company continues to look ahead and make plans based on both the current knowns of healthcare and the most likely outcomes in the next few years.
About the Author
Stuart Smith is the CEO and Founder of SmallCapVoice.com. SmallCapVoice.com. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit https://www.smallcapvoice.com/the-small-cap-daily-small-cap-newsletter/