In 2009, the Health Information Technology for Economic and Clinical Health Act (HITECH) provided $19 billion to increase the use of Electronic Health Records (EHR) by physicians and hospitals. A big chunk of that was to be spent by the Centers for Medicare & Medicaid Services (CMS), through which about 30 percent of national health expenditure passes. The CMS administers the reimbursement programs not only for Medicare and Medicaid but for the Children’s Health Insurance Program (CHIP) and the Health Insurance Marketplace. It is also in the forefront of the drive to shift U.S. health care from a fee-for-service model to a fee-for-value one. ORHub, Inc. (OTC: ORHB), the developer of a cloud-based health care software-as-a-service platform designed to decrease costs and improve outcomes in surgical care, is also focused on this monumental shift within the nation’s health care system.
The McKesson Corporation (NYSE: MCK), the oldest and largest health care company in the nation, has identified what is required to make the change to a fee-for-value system (http://nnw.fm/SO0ln). The present “siloed” system with individual hospitals each maintaining a separate database must morph into a network that shares information. This will increase care coordination and scale effective interventions with the patient population.
A network system will also allow data from its care provider ‘nodes’ to be acquired, aggregated and analyzed across the network. It will also integrate the clinical and financial aspects of providing care and so increase awareness of costs and the ability to measure and control them.
In one critical area of health care – surgery – ORHub’ cloud-based software platform is already addressing those challenges. It has been implemented in two major hospitals in California as part of programs to improve surgical resource management. ORHub empowers care providers at every stage of the surgical process to collaborate, organize, deliver, measure, and reimburse in one intuitive, easy-to-use program. This significantly decreases cost and improves outcomes by eliminating inefficiencies, duplication of effort, errors and omissions that result from siloed processes in outdated software and poor handoffs from one part of the care process to another.
Even with increasing adoption of EHR systems, many care providers still rely on a paper-based methodology to document information related to surgical procedures and to track events in the operating theater, from the details of a procedure to the implants and tools used. This leads to mistakes, wasted time, missing data, delays or lack of payment, and little opportunity for analysis and improvement.
The ORHub platform is designed to mitigate or correct the shortcomings of traditional systems. It eliminates errors caused by poor handwriting. It reduces the risk of mistakes by allowing users to select from pre-loaded sets of detailed implants and tools rather than relying on memory or catalogue numbers alone. It further reduces errors by requiring verification and sign-off from multiple users before completing a case. It creates purchase orders and implant records automatically based on the case record, saving time and improving reliability. It also fits within existing operating room workflow and requirements, streamlining tasks to save time. And it enables rich data analysis across all of a hospital’s cases tracked through ORHub.
ORHub plans to gain a dominant share of the device implant and biologic inventory management market, which the company estimates at about 7,000,000 surgeries annually, a number that is expected to grow with demographic trends. The company will focus its initial marketing efforts on major national hospital operations.
ORHub is transforming the business of surgery. By creating a new category of health care IT vertical specific software known as Surgical Resource Management, the company is offering enhanced capabilities over traditional EHR solutions in the operating room. The ORHub platform is a HITECH SaaS platform, which employs Microsoft’s Azure Cloud.
For more information, visit the company’s website at www.ORhub.com
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer