ProAssurance Corporation (PRA - Free Report) recently announced a significant affiliation with Sure Med Compliance (SMC) for promoting SMC's Care Continuity Program (“CCP”) to act against the opioid epidemic in the United States.
The CCP helps physicians maintain responsible practices for opioids and other scheduled medications with the help of tools, which can detect patients, who require opioid therapy and also identify those with risk factors. It can also aid doctors to monitor the impact of treatments over a span of time.
The company expects to combat the devastating effects of the opioid in the country with this deal, which would help it leverage Sure Med Compliance’s state-of-the-art patient care and treatment. By dint of this affiliation, a greater number of patients can reach out to more physicians for timely treatment and recovery.
Patients fulfilling certain eligibility criteria would have a convenient access to an exclusive 30-day free trial of the CCP. And if those insured under ProAssurance coverage opt for continuing with the treatment, then they would be entitled to an attractive discount on the same.
The outbreak of opioid epidemic dates back to the 1990s but it exploded to massive proportion since 2006 to be specific. From 2006 to 2016, out-of-state drug companies shipped about 21 million opioid painkillers to pharmacies. Per news sources, more than 800 people die of opioid overdoses every week in the United States. The government has taken solid measures to cut down on both foreign and domestic supply of opioid drugs as well as limiting prescription numbers. Many companies like ProAssurance are constantly coming up with plans to fight against this crisis.
Shares of this Zacks Rank #3 (Hold) company have surged 36.1% quarter to date, outperforming its industry’s rally of 11.6%.
Stocks to Consider
Investors interested in the insurance industry might take a look at a few better-ranked stocks like The Progressive Corporation (PGR - Free Report) , Alleghany Corporation (Y - Free Report) and First American Financial Corporation (FAF - Free Report) .
Progressive provides personal and commercial auto insurance, residential property insurance and other specialty property-casualty insurance and related services, primarily in the United States. Sporting a Zacks Rank #1 (Strong Buy), the company managed to deliver an average trailing four-quarter positive surprise of 9.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Operating in the Reinsurance and Insurance segments, Alleghany Corporation offers related services in the United States as well as internationally. The company came up with an average three-quarter positive earnings of 17.61%.
First American Financial and its subsidiaries provide financial services to its customers. It holds a Zacks Rank #2 (Buy) and pulled off an average four-quarter beat of 8.22%.
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