FREEHOLD, NJ, April 12, 2018 (GLOBE NEWSWIRE) -- MEDIFIRST SOLUTIONS, INC. (OTC: MFST) (the “Company” or “Medifirst”), a provider of innovative laser technology with its FDA 510(k) cleared Infrared Time Machine TTML-8102000 Laser Thermal Therapeutic Device, is pleased to announce that it is adding a new division to the company.
CCRx, a new division of Medifirst Solutions launching May 1, 2018, will provide a unique niche billing service to independent pharmacies that are struggling to maintain profitability. Our services of pharmacy consulting and revenue stream management, utilizing of over 60 years of combined specialty pharmacy and infusion therapy experience, will increase profits for these pharmacies by contracting our services which will include: sales, patient care, operations, and navigation of the complex landscape of major medical insurance billing. CCRx 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.
CCRx is dedicated to expanding retail pharmacy into the emerging Specialty Pharmacy market and opening revenue streams to promote market competitiveness and profitability. Expertise includes: Specialty and infusion pharmacy consultants, billing expertise for Specialty Pharmacy products, third party billing provider and services, authorization analysis, experts with 60 years of combined specialty pharmacy and infusion therapy management.
Commented Medifirst President Bruce J. Schoengood, “We are very excited to be adding a medical service business to Medifirst. Our Time Machine Infrared Laser is product driven which requires a purchase by the healthcare professionals to see the benefits of our laser technology. CCRx, lead by experienced pharmaceutical specialists offers pharmacies increased revenue via business and billing solutions at no cost or expense to them.”
Continued Schoengood, “This business diversification, we believe, will add great value to the company. It adds a balance of both products and services that fit very comfortably within the Company.”
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, 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.
More details will be announced in the upcoming days and weeks.
About Medifirst Solutions, Inc.
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. The laser division will be operated out of Medifirst’s wholly owned subsidiary, Medical Lasers Manufacturer. Visit www.medifirstsolutions.com for more information. Follow on Twitter @Medi_First and for Facebook visit Medifirst Solutions.
Forward-Looking Statements:
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.