- ORHub is a cloud-based health care software that can help medical providers achieve cost efficiencies of 20-40% and drive closure of reimbursement gaps
- In real time, through Azure intelligence and analytics, it can analyze procedures, offer predictive analysis, and enable efficient procurement for hospital administrators
- It can develop fair pricing on bundled payments for providers and payers
ORHub, Inc. (OTC: ORHB), a health care software-as-a-service company, is primed to play an important role in delivering both cost reduction and actionable resource analytics tools in surgeries such as spinal, hip, knee, and cardiac catheter procedures, offering greatly improved resource allocation, real time monitoring of surgery, and predictive analysis using cloud-based software that delivers fact-based cost targets. The result: ORHub can help achieve cost reductions of from 20-40% in health care.
The value of this revolutionary system is illustrated by the experience of the Hoag Orthopedic Institute (HOI) in using ORHub to advance orthopedic care (http://dtn.fm/31EYx). HOI is successfully using the system to improve teamwork, automate manual processes, and better understand resource allocation in its spinal surgeries. The system, which runs on the Microsoft Azure platform, can play a critical part in achieving value-based models of health care. In spinal surgeries, it enables hospital administrators, through Azure intelligence and analytics, to offer real time digital review and reconciliation. In can generate accurate records which can be sent electronically to multiple entities, including medical device companies, hospital procurement, materials management, and billing departments. ORHub is on the frontline of new health care IT delivery. It is seen as both agile and scalable.
Wesley Mitchell, chief technology officer at ORHub, said, “When we have 50,000 procedures in the system, we can start to effect change in the healthcare world. That includes introducing predictive analysis that hospitals can use to anticipate what resources are necessary for a given type of procedure. This can also help healthcare providers and payers coordinate fair pricing on bundled payments.”
Mitchell added that the introduction of ORHub’s software into the medical field could result in cost reductions of from 20-40%. That’s significant, because U.S. health care costs are at more than $3 trillion annually, or 17% or the American GDP, per ORHub calculations.
“If we can achieve that with the cost of surgeries across the U.S. health system, that equates to USD $250-$350 billion saved every year. That’s greater than the gross domestic product of Finland,” Mitchell said.
He added that he started the project after being contacted by a surgeon about wanting software to help analyze resource allocation for surgical procedures. According to ORHub’s research, hospitals spend between 48-50% of their overall revenue on surgery. Mitchell’s interest was piqued, and the project was initiated.
For more information, visit the company’s website at www.ORhub.com
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