Latest OTC Program Expands PharmcoRx
Pharmacy's Ability to Provide Patients with Access to Additional
Healthcare Benefits Covered by Medicare Advantage Plans
MIAMI,
Nov. 20,
2023 /PRNewswire/ -- Progressive Care Inc. (OTCQB:
RXMD) ("Progressive Care" or the "Company"), a personalized
healthcare services and technology provider, today announced that
its PharmcoRx ("PharmcoRx") pharmacies in Florida will expand their ability to provide
customers with access to over-the-counter ("OTC") benefits through
a new partnership with NationsBenefits LLC. ("NationsBenefits) for
its NationsOTC program.
NationsBenefits is a leading provider of
supplemental benefits, flex cards, and member engagement solutions
for health plans. OTC benefits are provided by many State and
Nationwide Medicare Advantage ("MA") plans such as those offered by
Humana, Devoted, Wellcare, and United Health. The OTC benefits
provide MA members with the ability to purchase a wide array of
goods including over-the-counter medicines, food, and groceries.
The Centers for Medicare & Medicaid Services (CMS) estimates
that in 2024, MA enrollment will rise from 31.6 million individuals
in 2023 to 33.8 million, accounting for about 50% of all Medicare
eligible. According to Statista, revenue in the OTC pharmaceuticals
sector of the market will reach $39.3
billion in 2023 and is expected to grow annually by 3.53%
(CAGR 2023-2028). Through the NationsBenefits partnership,
PharmcoRx will be included in a list of NationsOTC participating
pharmacies for program participants thereby providing patients with
seamless access to valuable OTC benefits fully paid for by their MA
plans along with their prescription medications when they are
delivered to their homes free of charge.
Dr. Pamela
Roberts, Chief Operating Officer of Progressive Care Inc.,
said, "The expansion of our OTC benefit program will allow us to
deliver added convenience and value to our customers when they have
their prescriptions filled at our pharmacies, creating immediate
new sales opportunities for the Company. Partnering with
NationsBenefits enables us to provide new services that were only
available at national retail chains, and we are excited to be part
of this growing network as we continue to provide our communities
with offerings that can contribute to their improved health and
quality of life."
"We are pleased to welcome PharmcoRx pharmacies
and its growing customer base to our NationsOTC program as we
continue on our mission of delivering value to health plan members
and to providers through innovative supplemental benefit
solutions," commented Glenn M.
Parker, M.D., Founder and CEO at NationsBenefits.
MA plan members in the NationsOTC program can
immediately access their OTC benefits which can exceed $3,000 annually, at PharmcoRx pharmacies when
they have their prescriptions filled. This means patients can now
seamlessly fill their prescriptions and purchase their OTC
medications such as pain relievers as well as hundreds of hair,
skin and oral care products with no out of pocket costs simply by
using their Medicare insurance benefits and have them delivered to
their homes free of charge. PharmcoRx will actively market the
availability of the program to its existing customer base as well
as those in its network of providers, clinics, Management Services
Organizations ("MSOs"), Accountable Care Organizations ("ACOs") and
Long-Term Care facilities.
For more information about Progressive Care Inc.,
please visit www.progressivecareus.com and connect with us on
Facebook and Twitter.
About Progressive Care
Progressive Care
Inc., through its subsidiaries, is a Florida health services organization and
provider of Third-Party Administration (TPA), data management,
COVID-19 related diagnostics and vaccinations, 340B contracted pharmacy services, 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 NationsBenefits
LLC.
NationsBenefits is a leading member engagement,
benefits administration, and healthcare company that partners with
managed care organizations to provide innovative healthcare
solutions aimed at driving growth, reducing costs, and delighting
members. Through its comprehensive suite of innovative supplemental
benefits, payments platform, and member engagement solutions,
NationsBenefits helps health plans deliver high-quality benefits to
their members that help address social determinants of health and
improve member health outcomes and satisfaction. The Company's
compliance-focused infrastructure, proprietary technology systems,
and premier service delivery model allow NationsBenefits' health
plan partners to deliver high-quality, value-based care to millions
of members.
Forward-Looking
Statements
Forward-Looking 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 discussed in our Annual Report on
Form 10-K 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.
Investor Contact for Progressive Care Inc.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE Progressive Care, Inc.