OptimizeRx Recurring Revenue Grows as it Secures 19 New Enterprise-Level Engagements in Q1 2021
2021年3月16日 - 8:30PM
OptimizeRx Corp. (Nasdaq: OPRX), a leading provider of digital
health solutions for life science companies, physicians and
patients, has secured 19 new enterprise-level deals for 2021 that
provide access to the company’s full suite of solutions and
nationwide digital healthcare platform.
Of the 46 deals in pipeline shared during the fourth quarter of
2020 earnings call, the company has closed 19 deals. This
conversion success rate is in addition to a higher-than-average
renewal rate of existing engagements over the same period. In 2021,
the company expects to exceed the 86% renewal rate it experienced
last year.
“These many new wins further demonstrate the exceptional
capabilities and reach of our solutions, and especially how they
deliver exceptional value to our clients,” stated Steve Silvestro,
OptimizeRx’s chief commercial officer. “In a year with so much
disruption, especially for new drug launches, our enterprise
engagements have produced strong results for our clients, helping
them to reach more physicians and ultimately deliver greater
support to more patients.”
In December 2020, McKinsey published an analysis of 86 recent
drug launches and the associated impact of COVID-19 on the
pharmaceutical commercial model. The analysis identified several
imperatives for creating the conditions for a successful drug
launch in what McKinsey refers to as the “next normal.” Under this
shifting commercial model, the ability to rapidly deliver
personalized content, analytics and engagement through innovative
patient channels now takes center stage as a critical factor for
successful drug launches.
The elements driving the shift in commercial models are expected
to persist beyond the pandemic, creating a sustained increase in
demand for digital enablement tools that can swiftly respond to
real-world events through advanced analytic methods. A recent
MM+M/Healthlink Dimensions survey of healthcare marketers revealed
a 29.5% budget increase for digital sales rep engagement in 2020.
Further, while traditional engagement methods declined in
popularity, remote sales rep engagement increased to 66.7%.
“Our engagement with pharma clients has evolved to focus on key
elements of their commercialization process that over the past year
has had to adapt to the next normal,” continued Silvestro. “By
using OptimizeRx’s proprietary platform, our clients have been able
to reach more HCPs in a much shorter period, providing them with
the necessary information and tools to help treat their patients.
These closed loop execution efforts have a clear and demonstrated
return on investment.”William Febbo, chief executive officer of
OptimizeRx, commented: “We are encouraged by the continued
conversion of our pipeline into enterprise-level deals and the
resulting buildup in our recurring revenue. As these more expansive
enterprise deployments better address the need for greater digital
connectivity for our clients, they also provide OptimizeRx with a
more consistent revenue stream.”
“We expect the first half of the year to continue to show strong
growth, and this has historically positioned the company for an
even better second half,” added Febbo. “The platform we have built
over the years continues to bring us closer to our clients,
especially with the unprecedented shift in budgets to digital. We
plan to continue scaling and leveraging the strength of our
platform to address the sizable market opportunities ahead.”
About OptimizeRx
OptimizeRx is a digital health company that provides
communications solutions for life science companies, physicians and
patients. Connecting over half of healthcare providers in the U.S.
and millions of patients through a proprietary network, the
OptimizeRx digital health platform helps patients afford and stay
on medications. The platform unlocks new patient and physician
touchpoints for life science companies along the patient journey,
from point-of-care, to retail pharmacy, through mobile patient
engagement.
For more information, follow the company
on Twitter, LinkedIn or
visit www.optimizerx.com.
Important Cautions Regarding Forward Looking
StatementsThis press release contains forward-looking
statements within the definition of Section 27A of the Securities
Act of 1933, as amended, and such as in section 21E of the
Securities Act of 1934, as amended. These forward-looking
statements should not be used to make an investment decision. The
words 'estimate,' 'possible' and 'seeking' and similar expressions
identify forward-looking statements, which speak only as to the
date the statement was made. The company undertakes no obligation
to publicly update or revise any forward-looking statements,
whether because of new information, future events, or otherwise.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted, or quantified.
Future events and actual results could differ materially from those
set forth in, contemplated by, or underlying the forward-looking
statements. The risks and uncertainties to which forward-looking
statements are subject include, but are not limited to, the effect
of government regulation, competition and other material risks.
OptimizeRx Contact Doug Baker, CFOTel
(248) 651-6568 (x807)dbaker@optimizerx.com
Media Relations Contact Maira Alejandra,
Media Relations ManagerTel (754)
245-7070 malejandra@optimizerx.com
Investor Relations ContactRon Both, CMATel
(949) 432-7557oprx@cma.team
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