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MIAMI , Aug. 22, 2018 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced that its wholly owned subsidiary PharmCo, LLC has met all three of the performance measures evaluated by Humana Inc., a leading health and well-being company, as part of its Rx Quality Network program. As a result of PharmCo’s performance scores in the first measurement period, the company will receive the maximum payout offered by Humana as part of the program’s rewards.
Provided by Humana Pharmacy Solutions, a division of Humana Inc., the Rx Quality Network focuses on the health outcomes of patient care related to medication adherence, in addition to rewarding pharmacies for adherence performance. The program aims to partner with participating pharmacies to improve member adherence in targeted drug classes, which may result in higher-quality care. The quality-based network rewards pharmacies on performance and establishes their pharmacy in-network/preferred for PDP/MAPD plans.
“We are very proud of the performance scores PharmCo Pharmacy received as part of Humana’s Rx Quality Network program. These scores are a testament to the quality of care we offer patients,” said S. Parikh Mars, Chief Executive Officer of Progressive Care Inc. “It is our hope that, as a result of consistently strong adherence results, physicians contracted with Humana will continue to lean on PharmCo as a trusted, high-quality provider. We believe that our success with initiatives like this one will lead to more opportunities for growth and allow us to provide even more patients with Progressive Care’s adherence packaging, proactive engagement model and pharmacological expertise.”
PharmCo Pharmacy received the following performance scores for the months of January 2018 – June 2018:
The first measurement period is January through June of each calendar year and the second period is January through December of each calendar year. Performance used for these measurement periods will be displayed in EQuIPP in August and February, respectively, due to the data refresh cycles. Humana will pay each participating pharmacy 50 percent of the performance payment calculated with respect to the January through June measurement period after the calculation for that measurement period. This payment amount will be deducted from the performance payment calculated for the second measurement period of January through December (full year calculation), which will be paid after the calculation for that measurement period.
The following targeted drug classes are directly tied to the Centers for Medicare & Medicaid Services Part D Stars adherence measures:
Progressive Care continues to make advances in becoming a leader in personalized healthcare and tele-pharmacy services through its many efforts to expand and educate its network. Earlier this month, Progressive Care earned its LegitScript certification verifying PharmCo Pharmacy to be a safe and credible online health resource. The company also recently launched DischargeRx, a new program designed to improve engagement between hospitals and patients, designed to help hospitals like Westchester General provide the best transitional care to its patients, while still preserving hospital resources.
Go to Humana.com/Pharmacy to learn more about Humana Pharmacy Solutions and its Rx Quality Network program.
For more information about Progressive Care, please visit the company’s website.
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About Progressive Care Inc.
Progressive Care Inc. (OTCQB: RXMD), through its PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long term care facilities, and health practice risk management.
About Humana Pharmacy Solutions
Humana Pharmacy Solutions, a division of Humana Inc., manages traditional pharmacy benefits with member-focused strategies to yield savings in pharmacy and total health expense. Providing prescription coverage for both individuals and employer groups, Humana Pharmacy Solutions strives to give members access to the medicine they need while offering guidance on clinically proven, therapeutically equivalent drugs that bring better value to the member and the customer. For more information visit www.Humana.com/Pharmacy.
Cautionary Statement Regarding 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. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. 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:
Tory Patterson, CMW Media
Investor Relations Contact:
Armen Karapetyan, Progressive Care
Senior Advisor Business Development