Progressive Care Inc., a personalized healthcare services and technology company, announced the launch of ClearMetrX, the Company’s first wholly-owned data analytics company with services designed to support health care organizations across the country.
The idea to consolidate data analytics and reporting services in a separate, wholly-owned subsidiary of the Company is based on the Company’s evaluation of the data analytics and reporting tools in current pharmacy operations. Over the past 9 months, the Company has generated over $250,000 in data management fees with gross margins exceeding 80%. By creating a separate entity for these services, the programs can be delivered nationwide without the competitive pressures associated with pharmacy. The new subsidiary will focus on providing insights, data security, and technological development. The Company plans to transition data service customers from the pharmacies to the ClearMetrX platform to better scale the products and improve the capabilities of existing analytics options.
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The core products of ClearMetrX include data management and Third Party Administration (TPA) services for Federally Qualified Health Centers (FQHCs), Pharmacy Analytics, and programs to manage HEDIS Quality Measures such as Medication Adherence. These offerings cater to the glaring need by frontline providers to understand best practices, patient behaviors, care management processes, and the financial mechanisms behind these decisions. The Company aims not just to provide data access, but actionable insights that providers and support organizations can use to improve their practice and patient care.
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“I have long said that data analytics and technology development need to be at the forefront of our growth strategy,” said S. Mars, CEO. “With the launch of ClearMetrX, we have taken another step forward in implementing that strategy.”