How Health Care Technology Can Reduce Spending and Improve Health System Efficiency
01 März 2017 - 02:30PM
InvestorWire
New York, New York (NetworkNewsWire) – Amid rising health care
costs, a growing number of businesses and providers in the health
care system are looking to technology companies for solutions to
increase efficiency and potentially reduce costs. Whether by simple
digital innovations, such as remote monitoring or wearable devices,
or more advanced and complex platforms that allow better management
of health care processes, technology has the potential to change
the system significantly by lowering costs, reducing spending, and
improving overall standards of care. It is with this goal in mind
that many leading health care technology service companies, such as
Cerner Corporation (CERN), Salesforce.com,
Inc. (CRM), ORHub, Inc. (ORHB) (ORHub
Profile), Teladoc, Inc. (TDOC), and
Veeva Systems, Inc. (VEEV), are working to provide
state-of-the-art services built around a new, more efficient,
value-based care model.
It is estimated that annual health care costs in the United
States amount to more than $3 trillion a year, or roughly 17
percent of the GDP. According to Harvard Business Review data from
late 2015, waste in health care spending is at about $1 trillion,
much of which could be prevented by improving the overall care
process, including more standardized billing and collection
measures, compliance, oversight, and the standardization of best
practices. Implementing a more efficient, value-based model
nationwide, as opposed to the prevalent fee-for-service system,
would also help reduce costs and waste and make the entire health
care industry more effective.
With a strong commitment to the value-based model,
ORHub’s
(ORHB) technology allows for significant decreases in
cost and improvement in outcomes by eliminating inefficiencies,
duplication of effort, and errors and omissions that result from
siloed processes in software and poor handoffs from one part of the
care process to another. The company’s software is 100 percent
cloud-based and proprietary, and it is designed to eliminate
limitations and mistakes associated with manual processes and poor
handoffs, as well as to streamline tasks, create automatic records,
and allow quick data comparisons to determine the most appropriate
surgical and implant fit for each and every patient. This
ultimately ensures that the health care provider can offer the best
possible care, with minimal mistakes or risks, while the patient
will benefit from the best and most cost-effective surgical
solution available.
ORHub’s platform is already in daily use at a regional hospital
in Southern California and in a prominent non-profit hospital
system. ORHub also has plans to run three more pilot programs
before officially launching its technology nationwide. ORHub
projects that its surgical care management software can ultimately
help reduce annual health care spending in the United States by
$250 billion.
Salesforce.com’s (CRM) approach to health care
technology is its Health Cloud solution, which focuses on the
entire health care process and patient-care provider relationship.
The Health Cloud’s main goal is to give health care professionals
the tools they need to collaborate more efficiently and better
understand their patients’ needs, so that they can ultimately build
stronger relationships. The cloud’s functionality was recently
expanded to also help users manage risks, resources, and outreach
in more intelligent ways.
Another cloud-based health care technology provider dedicated to
the value-based model, Cerner (CERN) offers a rich
portfolio of clinical and financial health care IT solutions, as
well as management and operational tools to make health care
providers more efficient and help them to deliver the best care,
with the best outcomes at the most optimal costs. The company’s
products are built around the proprietary Cerner Millennium
architecture, with the cloud-based HealtheIntent platform arguably
its flagship product. Cerner’s technologies connect people, systems
and information at over 25,000 health care provider facilities
around the world.
Veeva Systems (VEEV) is another leading
provider of industry cloud software and data solutions, with a
focus on customer relationship management tools designed to help
biotechnology and pharmaceutical companies market their products to
health care professionals and organizations. With a strong
commitment to customer success, product excellent and innovation,
Veeva has hundreds of customers worldwide, including some of the
largest pharmaceutical and biotechnology companies.
Focusing primarily on telehealth and telemedicine options as a
means to improve health care in general while also reducing
spending, Teladoc (TDOC) connects patients with
medical professionals via mobile devices, Internet, video and phone
to offer them access to information and medical advice for a wide
range of conditions ranging from respiratory infections and urinary
infections to dermatological conditions, anxiety and more. The
company serves about 7,500 health care organizations and has
millions of members who can connect with a network of more than
3,000 licensed medical professionals for remote, personalized
care.
Though diverse in delivery and function, today’s leading health
care technology companies are collectively pioneering a significant
shift in the management of health care processes to lower costs,
reduce spending, and improve overall standards of care.
For more information on ORHub, Inc. please visit: ORHub, Inc.
(ORHB)
About NetworkNewsWire
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 journalists and
writers, NNW is uniquely positioned to best serve private and
public companies who need 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. For more information,
visit https://www.networknewswire.com.
Please see full disclaimers on the NetworkNewsWire website:
https://www.networknewswire.com/disclaimer.
Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Salesforce (NYSE:CRM)
Historical Stock Chart
Von Feb 2024 bis Mär 2024
Salesforce (NYSE:CRM)
Historical Stock Chart
Von Mär 2023 bis Mär 2024