Many of us have dealt with this situation directly or through a family member: what was initially a successful hospital stay turns into a cycle of readmittance followed by more medical issues. This is a painful situation to find oneself in. According to a 2017 study published in the Journal of the American Pharmacists Association, up to 26% of hospital readmissions are medication-related. But 26% of the cases in this category could have been avoided.
That is where Progressive Care Inc. (OTC.QB RXMD) stepped in to assist hospital patients in getting the best transitional care possible. This might be a win, win, win situation. Hospitals can save vital resources, patients will receive greater support, and RXMD will tap into a new market for its bottom line and shareholders.
So how does it work? Progressive Care puts it like this;
Through Progressive Care’s wholly owned subsidiaries Pharmco, LLC, DischargeRX will provide hospitals with much needed support in preventing unnecessary and costly hospital readmissions. At no cost to the hospital or patient, the program will provide access to a PharmCo representative who will offer medication-related services throughout the patient’s transitional process.
Through direct interaction between the patient and PharmCo, the company is able to understand the patient, their healthcare needs, follow-up plans and current drug regimen. After the consultation, recommendations may be made to optimize their prescription therapy through med synchronization and effective packaging options including the use of PharmCo’s SmartPack adherence solution. The patient will be given a full overview of their prescriptions, uses and best methods for staying on track with doses.
Once a patient has received a prescription from the hospital’s physician, PharmCo will obtain their prescription(s) directly from the hospital and fill them, alleviating the patient of those steps. After the prescription is filled, the patient will receive a home delivery of all prescribed medications on the same day as discharge, and in some of the most effective packaging solutions available. PharmCo’s customer service staff will then monitor the patient’s progress and keep them updated on their follow-ups with Primary Care and Specialist physicians. They will also be available to provide mitigation recommendations for medication-related adverse reactions to prevent short-term medication-related readmissions, as well as post-discharge medication reconciliation.
This all makes sense on several levels. This is really what has set Progressive Care apart from the big chain pharmacies and the smaller standardized drugstores: Education, support and additional care. PharmCo, LLC is already a 5-star pharmacy that makes it easier for doctors and pharmacists to work together to meet their goals. Their pharmacists are more involved in the patient’s history, so they can spot potential errors or mistakes. As doctors adopt managed care, they receive more credit for their efforts and more recognition of their own efficacy in promoting wellness. Preventative care may take a little extra effort, but it’s far more efficient than waiting until a disease is out of control. As their success grows, doctors find they’re able to hit their coveted bonuses without any additional effort aside from their standard course of care.
Working with hospitals and larger healthcare organizations is a logical progression of this model. Hospitals are always looking to save wherever they can and the DischargeRX program is there to help all involved. Adherence-related spending is a rabbit hole for a large hospital, but for a nimble outfit like Progressive Care it fits perfectly into their existing offerings. Making it an affordable market for them to navigate assisting patients, hospitals and all involved in this transitional care market.
Progressive Care has continued to make advances in becoming a leader in personalized healthcare and tele-pharmacy services. Earlier this month, the company added to its growing fleet of robotic pharmacy equipment with the completion of installation of a TCGRx Automated Pouch Packaging System at its Miami-Dade County PharmCo location. Prior to that announcement, the company also began developing its own proprietary tele-pharmacy software to digitally communicate with patients, physicians, pharmacists, and caretakers across the world and expand the company’s kiosk program.
To learn more about Progressive Care, please visit the company’s website.
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/