New York, New York (NetworkNewsWire) – At more than $3 trillion
per year, U.S. health care spending is a hefty financial burden,
demonstrating the need for a more cost- and resource-effective
solution. Designed to replace the traditional fee-for-service
approach that compensates care providers for the number of services
they deliver, the value-based model is emerging as a preferred
model that pays providers according to the results of their care.
As the health care system shifts toward this approach, there is a
growing need for efficient technology platforms and big data
analytics that can help curtail rising medical costs and make the
overall system more efficient. Leading industry players such as
ORHub, Inc. (ORHB) (ORHub
Profile), International
Business Machines Corp. (IBM) and its IBM Watson Health
division, General Electric Company’s (GE) GE
Healthcare subsidiary, Cerner Corp. (CERN), and
Cognizant Technology Solutions Corp. (CTSH) are
doing just that.
The increasingly popular value-based care model takes center
stage when it comes to ORHub, Inc.’s (ORHB)
(ORHub
Profile) revolutionary platform.
Developed specifically for surgery management, ORHub’s innovative
platform moves away from manual systems traditionally used for
handling surgery-related operations, as well as from the most
common electronic health records (EHR) solutions. ORHub’s Surgical
Resource Management offers significantly enhanced capabilities and
empowers health care providers involved in the surgical care
process to work together, organize, measure, deliver and reimburse
in one easy-to-use cloud-based platform.
The entire system is data-driven, with a focus on correct
analytics and tracking of diagnosis, prescribed treatments and
procedures, complications, results, materials and associated costs,
which can help transform the surgical care process into a
value-based model. The platform also enables complex data analysis
across entire health care units, helping address issues such as the
costs of comparable surgeries, what inventories need to be
restocked, whether the right materials are used for a specific
procedure, whether surgeons prefer a specific type of materials,
and more. Automation is another essential component of the ORHub
platform, as it helps eliminate labor intensive processes and data
collection, ultimately eliminating potential human errors and
omissions.
Managed by CEO Colt Melby, an experienced business strategist
whose experience includes the uplisting of companies such as Smith
& Wesson, now American Outdoor Brands Corporation (AOBC), CUI
Global, Inc. (CUI), and Quest Resource Holdings Corporation (QRHC),
ORHub is primed to become one of the country’s top health care
technology providers.
Its platform has already drawn the interest of tech giant
Microsoft, which provided ORHub access to its Azure Cloud
technology to build its revolutionary system. The Surgical Resource
Management platform is already operational in two hospitals, and
the company intends to roll-out its software nationally this
year.
NetworkNewsWire Exclusive Audio Interview with
ORHub (ORHB)
Another highly innovative concept already impacting the health
care sector comes from IBM’s
(IBM) suite of health care solutions designed to
help organizations reduce costs while improving the health of
populations. The company’s Watson Health Division integrates
humanity and technology to provide cognitive health care, a highly
advanced artificial intelligence system that can process and
interpret massive volumes of data to offer patients the best
solutions and treatments. As IBM CEO Ginni Rommety noted at this
year’s Healthcare Information and Management Systems Society
(HIMSS) meeting, the development of cognitive health care is a
crucial moment in time, as this technology has the potential to
forever change health care by bridging the gap between data and
informed strategies. The technology is already in use at several
health care organizations, with promising results. So far, it has
been able to identify five new genes linked to amyotrophic lateral
sclerosis (ALS) and in general to produce more clinically
actionable items than human experts in rare cancer cases, Rometty
said.
Artificial intelligence and the Internet of Things are crucial
for precision medicine but also for better patient engagement –
which ultimately has the potential to reduce health care costs. In
densely populated countries such as China and India, IoT
technologies have helped health care providers become more
efficient by drastically reducing the time it takes to gather
patient information to 20 seconds instead of 20 minutes. Driven by
the need for improved patient management and spearheaded by top
industry innovators such as GE Healthcare (GE),
the IoT market is expected to grow by 25 percent to reach $169
billion by the year 2020, according to a Technaivo.
Also present at the previously mentioned HIMSS, GE Healthcare
director for cybersecurity and analytics Travis Frosch said this
innovation-based growth needs to focus on identifying solutions for
specific problems the medical sector is facing. Frosch also spoke
about his company’s revolutionary Centricity™ Healthcare
Information Technology (IT) solutions for Integrated Care and more
specifically DenialsIQ, an advanced analysis tool that uses machine
learning capabilities to uncover unseen issues and trends from
within claims denials and help hospitals reduce resulting patient
revenue losses.
Another health care technology provider dedicated to the
value-based model, Cerner (CERN) offers a complex
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.
The health care branch of global business and technology leader
Cognizant Technology (CTSH) also has a very wide
reach in the system, offering and supporting comprehensive software
products and solutions for various segments of the industry
including care providers, patients, insurance plans, pharmacy
management, government and public health programs. Cognizant
services for the health care industry include IT infrastructure,
application maintenance, clinical data management, order
management, pharmacovigilance, as well as consulting services on a
wide range of topics the industry is facing, such as data
integration, health intelligence, patient engagement, collaborative
care and more.
For more information on ORHub, Inc. please visit: ORHub, Inc.
(ORHB) & www.ORHub.com
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