SACRAMENTO, CA, Sept. 24, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Spotlight Growth has published new content on ORHub, Inc. (OTCQB: ORHB), an advanced surgical software-as-a-service (SaaS) solutions provider. The Company’s HIPAA-compliant platform allows healthcare providers to capture accurate surgical records at the point-of-care and analyze data in real-time. Furthermore, ORHub’s Surgical Resource Management (SRM) application automatically creates a live surgical case receipt that tracks each element of a surgical case including type of procedure, indication, and materials used that is verified by the physician and nurse.
The report provides an overview of ORHub, its latest news, and milestones achieved within the healthcare information technology industry.
Zion Market Research: Global Digital Health Market Estimated To Reach $431.11 Billion In 2024
Advancements in medical technology continue to primarily focus on new and improved treatments for a wide range of ailments and illnesses. However, other areas of the healthcare sector still largely await technological disruption and innovation. One area in particular that needs advancement is medical health records.
Despite our current capabilities with technology, a large position of the sector still relies on paper medical records and manual data entry, which has resulted in meaningful inefficiencies. This ultimately takes time away from treating patients and creates a burden on healthcare providers.
However, it appears the tides are shifting, as the health care sector continues to embrace digitalization. According to Zion Market Research, the global digital health market is forecast to see revenues grow from $122.66 billion in 2017 to $431.11 billion in 2024. This represents a compound annual growth rate (CAGR) of around 19.35% between 2018-2024.
Furthermore, BIS Research estimates that global “big data” in healthcare will see revenues grow from $14.25 billion in 2017 to $68.75 billion in 2025. This relates to utilizing artificial intelligence, machine learning and other advanced technologies.
ORHB: Collected Surgical Data For Over 5,700 Surgical Procedures Through August 2018
ORHub, Inc. is a Laguna Beach, California-based advanced surgical software-as-a-service (SaaS) solutions provider. The company also has offices in Tempe, Arizona; Newport Beach, California; Bellevue, Washington; and Jacksonville, Florida.
Born from the “Microsoft for Start-Ups” program, ORHub, Inc.’s suite of products are hosted on its HIPAA compliant Azure cloud. This helps to ensure that the company can focus on solving the problems that plague the business of surgery.
The Company’s platform allows health care providers to digitally capture accurate surgical records and analyze data real-time. “ORHub’s cloud-based software solution captures information before, during and after surgery to fill a void in the current surgical information infrastructure and provides the first platform to capture and measure the surgical process on any web-enabled device,” according to the Company’s description.
The company’s surgical resource management (SRM) application is then able to automatically translate the information captured into a live surgical record, which provides every single detail about this surgery or procedure. This means the report will capture everything from implants, biologocis, surgical procedures used to product’s manufacturer, utilization, and other information.
On September 14, 2018, ORHub announced that it has appointed Dr. Burak Ozgur to the Company’s Medical Advisory Board. Dr. Ozgur is an award-winning neurosurgeon that is ranked among the top within the U.S. specializing in minimally-invasive spinal procedures.
“What’s exciting about ORHub is that finally there is a product that aims to streamline the practical aspects of surgical equipment, implants and tools for the hospital OR system while helping to translate that value into surgical outcomes and efficiency,” detailed Dr. Ozgur.
On August 27, 2018, the Company announced that it has expanded its core platform capabilities to include new features focused on helping to improve reimbursement for providers. ORHub’s SMART Scanning technology helps free up nurses from manually inputting the data by hand. Furthermore, this allows for more accurate reimbursement.
“Our internal research indicates that our taxonomy approach to optimizing reimbursement and our proprietary scanning and parsing technology resolve chronic surgical problems by uncovering missed revenue opportunities and capturing time savings that could result in millions of dollars of efficiencies that can be recovered per hospital. We are excited to scale our modules to market in the next quarter and will continue to work with our clients to provide breakthrough technological solutions that align with value-based healthcare,” detailed Colt Melby, CEO of ORHub.
ORHub, Inc. was also recently featured on an episode on our online web-series, Spotlight Growth Live. To view the video, please visit: https://spotlightgrowth.com//video/
For more information on ORHub, please visit: https://www.orhub.com and https://spotlightgrowth.com//2018/09/23/orhub-inc-otcqb-orhb-an-advanced-surgical-saas-company-capitalizing-on-the-digitalization-of-health-care/
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