NEWPORT BEACH, CA–(Marketwired – Jun 28, 2017) – ORHub, Inc. (OTC: ORHB), a cloud-based medical software company established as the Operating Room Hub for data and analytics, today anounces it is expanding its Surgical Resource Management Platform with the addition of new specialty modules at the request of a nationally recognized hospital customer. This request represents a significant increase in case volume and revenue potential for ORHub and confirms the platform as the ‘Operating Room Hub’ for surgical suite information control.
The ORHub Surgical Resource Management Platform enables hospitals to track and monitor inventory, compare costs, and identify financial impacts in the operating room at the point of surgery to provide hospital management with invaluable insights on surgery economics for better decision making. The ORHub Platform can be rapidly scaled to meet customer demands, enabling hospital management to use ORHub to help reduce costs, provide insight, and deliver immense value to decision making and control of spending across diagnosis related groups (DRGs).
After reviewing data collected from over 750 surgeries using the ORHub Platform, the hospital CFO has asked ORHub to accelerate its planned roll out with at least six additional high-volume specialty modules, which will add to the existing Spine and recently announced Hip and Knee Modules.
A recent case study further highlights the effectiveness of the ORHub Platform: https://customers.microsoft.com/en-us/story/hoi-health-azure
Millions of cardiac surgeries are performed in the U.S. each year, ORHub expects to enter this segment of care through the release of its Cardiology specialty module in the third quarter of 2017. The launch of the five additional modules will be announced at a later date.
“Monitoring and reporting on every link in the data chain provides a true platform for a CFO’s decision making in a fact-based manner about DRG management, Medicare gaps, and fiduciary compliance to increase hospital profitability,” says ORHub COO Dr. Cyrus Olsen. “It does this in a minimally disruptive, rapidly deployed, and swift ROI model that drives results in weeks instead of years.”
The need for ORHub is clear. With over 6,000 hospitals nationally and thousands of ambulatory surgical centers doing over 100 million procedures annually, health care comprises more than 17% of US GDP at over $3 trillion per year. With costs rising every year due to an aging population and more expensive treatments, providers are under severe pressure to become more efficient and reduce costs from payers who are aggressively reducing reimbursements and moving away from fee-for-service and toward performance-based reimbursement. ORHub enables providers to thrive in this new environment by addressing the single largest segment of health care, which is surgical care. ORHub replaces numerous legacy systems with a 360-degree system focused on tracking cost from diagnosis to discharge centered on treating a patient for a specific condition.
About ORHub, Inc.
ORHub is a cloud-based software company focused on delivering performance-based data analytics at the speed of surgery. The Company’s suite of products serves the needs of the healthcare industry, hospital, patient, government and the medical device vendor. ORHub provides a cloud-based software solution that captures information before, during and after surgery, filling a void in the current surgical information infrastructure and providing the first process to capture and measure the surgical process — evolving Big Data into Intelligent Digital Data.
ORHub’s software applications allow hospitals and medical device vendors to utilize any web-enabled device to create an anatomical graphic depiction of exactly what occurs during surgery. The application automatically translates the resulting schematic into an intelligent, electronic operative report that links every detail of surgery, including implant location, surgical techniques, product usage, and all clinical parameters to create a dynamically new source of comparative information.
As a result, vendors, hospitals and surgeons can make real-time, data driven decisions to improve business profitability and the quality of patient care. This innovative technology results in vendors and hospitals understanding costs and identifying areas of cost reductions, as well as results in increased accountability, automatic creation of comprehensive anatomic implant registries, real-time analytics, improved efficiencies, and compliance with existing government regulations. ORHub has offices in Phoenix, Arizona; Newport Beach, California; and Bellevue, Washington.
For more information, visit www.ORHub.com
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company’s ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new software product business.