You are here
Medifirst Solutions Announces New Consulting Agreement for Its Specialty Drug Division
Freehold, NJ, Aug. 02, 2018 (GLOBE NEWSWIRE) -- MEDIFIRST SOLUTIONS, INC. (OTC: MFST) (the “Company” or “Medifirst”), a provider of innovative laser technology and specialty pharmacy drug and consulting services, is pleased to announce that Concierge Concepts Rx (CCRx), a division of Medifirst Solutions, has signed an exclusive three-year Specialty Pharmacy Consulting Agreement with QuickChek, a New Jersey based company that owns 153 convenience stores including pharmacy services. They have 4000 employees in New Jersey and New York locations.
As part of the agreement, CCRx will provide consulting services to QuickChek pharmacies so they can enter and participate in the ever-expanding market of specialty drugs. CCRx will provide services that include: clinical review, expedited medical insurance verification, training for drug dispensing, insurance billing, collections, and reconciliation. The billing services will address any denials and include appeals and re-submissions.
Commented CCRx President Walter Molokie, “We plan to bring in new business and revenue streams to the QuickChek line of pharmacies and develop as well as implement a new sales strategy to generate sales for specialty drugs. We are excited and very pleased to be working with QuickChek, a company of great quality and outstanding service to the community. Additionally, we are very confident that our strategy to expand their pharmacy services will result in increased revenues.” Commented Medifirst President Bruce J. Schoengood, “We believe CCRx, with its focus on specialty drugs, can provide great growth for Medifirst as well as open up many doors for new related opportunities. Many companies have been contacting CCRx to inquire about its services and expertise and we anticipate additional announcements and further updates on QuickChek in the upcoming days and weeks.”
CCRx services of specialty drug pharmacy consulting and revenue stream management utilizes over 60 years of combined specialty pharmacy and infusion therapy experience. The services are designed to increase profits for pharmacies. Services include: clinical review, expedited medical insurance verification, training for drug dispensing, insurance billing, collections, and reconciliation. The billing services will address any denials and include appeals and resubmissions. The division will provide key services to undervalued clients by securing reimbursement of overlooked revenue within the ever-expanding market of the specialty pharmacy market in today's healthcare system.
Specialty drugs, often described as prescription drugs that are difficult to manufacture and require special handling or administration, have limited distribution, target a narrow group of chronic diseases, are costly, and require ongoing clinical support, we believe, will drive nearly all the pharmaceutical industry’s market growth from 2015–2020.
Industry analysts project the total pharmaceutical industry to exceed $483 billion in 2020, with specialty pharmaceuticals making up 44% of the revenue. If these projections hold true, specialty drugs will have increased their revenues by over 5X from 2010–2020, growing from just 15% of the market to nearly half in that decade.
About The Time Machine Laser
Medifirst Solutions, Inc., in response to its Premarket Notification 510(k) submission for “The Time Machine” Series Laser, received clearance from the U.S. Food and Drug Administration (“FDA”) to market its infrared Time Machine TTML-8102000 Laser Thermal Therapeutic Device. The Time Machine Series Lasers Model TTML-8102000 - 810/830nm is intended for use in temporary relief of minor muscle and joint pain, stiffness, minor arthritis pain, muscle spasm, temporary increase in local blood circulation and temporary relaxation of muscles by means of topical elevated tissue temperature from infrared spectral emissions. The hand-held laser device, with pin-point accuracy, often gives patients immediate results with no redness, swelling or down-time. This unique laser device offers medical professionals an affordable and effective tool to enhance their treatment protocols for their patients and provide new revenue streams for their practice. Visit www.medifirstsolutions.com for more information. Follow on Twitter @Medi_First and for Facebook visit Medifirst Solutions.
The statements in this press release that relate to the company’s expectations about the future impact on the company's results from new products in development are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
Contact: Investor Relations
Phone: (732) 786-8044