SOURCE: Progressive Care Inc

Progressive Care Inc

January 27, 2015 09:30 ET

Progressive Care Announces Alliance With Health Care of South Florida to Launch Medication Monitoring and Health Safety Program

MIAMI, FL--(Marketwired - Jan 27, 2015) - Progressive Care Inc. (OTC PINK: RXMD) ("Progressive" or the "Company"), a South Florida provider of prescription pharmaceuticals specializing in health practice risk management, the sale of anti-retroviral medications and related medication therapy management, the sale and rental of durable medical equipment ("DME") and the supply of prescription medications to long term care facilities, announces new medication monitoring and health safety program with Health Care of South Florida.

The demand for health care management is growing. According to industry research, everyday 11,000 people turn 65 years old. As a result of health care reform, health care payers and providers are financially at risk if they cannot find better ways to keep patients healthy. Nearly seventy present of negative health events occurring after a hospital discharge are related to medication management. These health events often cause the patient to be readmitted into the hospital often within 30 days of original discharge. Readmission is a costly problem not only for health plan sponsors but for the primary care clinics and the patients themselves.

The key issues involved with preventing costly readmission are complicated medication regimens, improper or unsafe medication use, and a lack of communication among providers. Many patients with chronic conditions are taking 11 medications or more. Patients often hold onto discontinued medication therapies as well as mix prescription medication with over the counter and herbal remedies. Medications are prescribed by hospital physicians, primary care physicians and a multitude of specialists who rarely communicate with one another to review medication therapies, resulting in a confusing regimen for the patient.

PharmCo and Health Care of South Florida's new Medication Monitoring and Health Safety Program is a vital step in managing the health and wellness of patients with chronic illnesses. Health Care of South Florida is a home health care agency whose licensed nurses are trained to assess health care risks within the patient's home. Through the collaboration and communication with the patient and his or her primary care physician, a licensed nurse from the program will conduct a comprehensive review of the patient's health situation including medical records, medications and whether there are injury risks in the home based on the patient's condition.

"As the last point of contact with the patient regarding their recommended health regimen, we believe that it is imperative for pharmacists and home health care agencies to take an active role in monitoring the patient's therapy adherence. By creating an atmosphere of openness and communication with doctors and patients, we will help keep patients healthy and prevent costly adverse health events," said Shital Parikh Mars, COO.

To promote the program and encourage participation, PharmCo and Health Care of South Florida are reaching out to clinics, primary care physicians, hospital administrators, discharge planners accountable care organizations (ACOs), and managed care organizations (MCOs). Through the development of this specialized cooperative network, the program will greatly reduce costs for health care providers and position the Company as a leader in the health care market.

About Progressive Care (RXMD)
Progressive Care, Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC is a South Florida provider of prescription pharmaceuticals specializing in prescription pharmaceuticals specializing in health practice risk management, the sale of anti-retroviral medications and related medication therapy management, the sale and rental of durable medical equipment ("DME") and the supply of prescription medications to long term care facilities.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether Progressive Care or its business continues to grow and whether any additional financing can be secured by Progressive Care and whether such additional financing will be adequate to meet the Company's objectives. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Progressive Care and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Progressive Care's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Progressive Care's ability to successfully expand in existing markets and enter new markets; (iii) Progressive Care's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (iv) unanticipated operating costs, transaction costs and actual or contingent liabilities; (v) the ability to attract and retain qualified employees and key personnel; (vi) adverse effects of increased competition on Progressive Care's business; (vii) changes in government licensing and regulation that may adversely affect Progressive Care's business; (viii) the risk that changes in consumer behavior could adversely affect Progressive Care's business; (ix) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report contained in our Condensed Interim Consolidated Financial Statements for the Years Ended December 31, 2013 and 2012 and the subsequently filed quarterly reports in our Consolidated Financial Statements for the Quarter Ended March 31; June 30; and September 30, 2014 (Unaudited) filed with OTC Disclosure and News Service and current reports on Form 8-K filed by Progressive Care with the Securities and Exchange Commission. Progressive Care anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Progressive Care assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

Contact Information

  • Contact Info:
    Shital Parikh Mars
    Chief Operating Officer
    Progressive Care Inc.
    Email Contact