ORHub Announces Expanded Implications of its Data Analytics Platform in Response to New Initiatives by the Food & Drug Administration and the Centers for Medicare & Medicaid Services for Electronic Health Records
NEWPORT BEACH, Calif., Aug. 20, 2018 /PRNewswire/ -- ORHub, Inc. (OTCQB: ORHB) (the "Company" or "ORHub"), a HIPAA compliant, physician-driven digital software company focused on improving profitability and the cost effectiveness of hospitals through real-time smart data and analytics, today announces expanded implications of its data analytics platform in response to new initiatives by the Food & Drug Administration (FDA) and the Centers for Medicare and Medicaid Services (CMS) involving Electronic Health Records (EHR).
The FDA announced in its June 2018 guidance that it would require all new trials of a device to provide Healthcare Economic Information prior to approvals. In July 2018, CMS proposed historic reforms that would increase the amount of time physicians and clinicians can spend with their patients by reducing the burden of paperwork when billing Medicare.
ORHub's SaaS-based surgical resource management (SRM) system currently auto-captures the cost data of all surgical tools and materials at the point of care. The Company currently offers these analytics to its providers to reduce costs while physicians and care teams can redirect their focus towards improved patient care. ORHub has collected data on over 5,700 surgical cases to date with a greater than 80% physician adoption rate.
"Our management and development team has already developed and validated market-ready solutions that align our regulatory bodies and ORHub's mission to convert medical data into surgical economics that meaningfully reduce costs through state-of-the-art technology," said Colt Melby, Chief Executive Officer of ORHub. "Our ability to extract granular data at the point of care enables our providers to accurately and promptly bill Medicare while eliminating manual data entry. In addition, we can support medical device manufacturers with the healthcare economic data required by the FDA to obtain approvals. The need for greater surgical efficiencies is more evident now than ever before and we look forward to working with our regulatory bodies to positively impact healthcare spend."
About ORHub, Inc.
ORHub is an advanced surgical software provider focused on real-time surgical data analytics. The Company's suite of products serves the needs of the health care 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.
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 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 Tempe, Arizona; Newport and Laguna Beach, California; Bellevue, Washington; and Jacksonville, Florida.
For more information, visit www.ORHub.com
To view a previously released Microsoft Case Study on HOI and ORHub visit:
https://customers.microsoft.com/en-us/story/hoi-health-azure
Forward-Looking Statements: 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.
ORHub Contact:
Jason Brown, Shareholder Communications
[email protected]
844.545.4508 x 405
Media Relations:
Cathy Loos, Senior Media Relations Specialist
[email protected]
347-334-4135
SOURCE ORHub, Inc.
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