Press Release
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Contact:
Stephanie Bertschy
skb@versustech.com
|
Contact:
Aleks Nikolich anikolich@caraflow.com Phone: 888.853.9539 |
FOR
IMMEDIATE RELEASE
Children’s Hospital of Wisconsin Extends Real-Time Asset
Tracking and Automated Charge Capture to their New Patient Pavilion
(Traverse City, Michigan, April 6, 2009) –
“The
first rule of any technology used in a business is that automation applied to
an efficient operation will magnify the efficiency. The second is that
automation applied to an inefficient operation will magnify the inefficiency.” ~Bill
Gates
Children’s Hospital of Wisconsin (CHW) has experienced the
positive effects of technology firsthand with the infrared (IR) real-time asset
tracking and automated charge capture systems. The system, NurseSaver™, is
based on a technology developed by CaraFlow, LLC utilizing additional real-time
locating system (RTLS) technology from Versus Technology, Inc. (Versus).
Having demonstrated considerable success with the system in a
variety of areas such as:
- A positive ROI
through recovered charges and increased revenue
- Savings through
reduced rentals, search times and quicker equipment turnaround
- Staff
satisfaction with ease-of-use and reduced manual entry
- Fewer billing
errors and inquiries
CHW recently expanded the system to their new West Tower which
opened March 30th, 2009. The West
Tower is a 425,000-square-foot addition and includes 12-stories of patient
clinics and specialized rooms. The addition takes the 236-bed hospital to 294
beds, with capacity for an additional 72 beds in the future.
By tracking the equipment in real-time using a system of sensors
and ID tags from Versus and CaraFlow’s wall-mounted NurseSaver units, CHW has significantly
improved asset utilization, allowing them to eliminate 75% of their infusion
pump rental expenses. CHW has also increased equipment billing accuracy from
80% to just under 100%, representing millions of dollars in recovered charges.
The combined technologies operate according to straightforward, well-defined
processes that require minimal time and effort but offer significant results.
Notably, this process requires only one human-to-technology interaction in
order to automate charge capture. From that day on, equipment charges are
automatically submitted to the hospital’s billing system. The rest of the caregiver’s
time can be spent focusing on their patients, rather than finding equipment and
attempting to accurately record which patient is using which pieces of
equipment and when.
Prior to the NurseSaver and Versus locating systems, caregivers had
difficulty even finding equipment in order to use it. With the technologies, CHW
has eliminated the inefficiencies related to equipment searches while
increasing asset utilization and decreasing the need for equipment rentals.
Moreover, prior to these systems being in place, CHW could not accurately capture
equipment charges, and the attempt resulted in missed billings.
The combined technologies from
CaraFlow and Versus help increase safety and efficiency, while reducing
overhead costs. This accurate billing and reimbursement mechanism is exactly
what the healthcare industry will be searching for as the $20 billion stimulus
stemming from President Obama’s HITECH (Health Information Technology for
Economic and Clinical Health) Act and revised
Both technologies will be
showcased April 5-8 at the Healthcare Information Management Systems Society (HIMSS)
conference in Chicago, IL. CaraFlow is located at booth #4754 and Versus is in booth
#4651.
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About Children’s
Hospital of Wisconsin
Children’s Hospital of Wisconsin, founded in 1894, provides a
comprehensive and integrated pediatric healthcare delivery model which delivers
superior quality and value by offering the best solution for the total health
care needs of children within the community, state, and region. The 294-bed hospital is located near
Milwaukee, in one of the leading centers for pediatric healthcare in the United
States. The hospital provides inpatient
care, including transport of critically ill or injured children and intensive
care services, and more than 70 specialty outpatient clinics that care for the
full range of pediatric health care needs. In its February 2009 issue, Parents Magazine rated Children’s Hospital of Wisconsin 3rd in the nation in
its Best Children’s Hospitals survey. www.chw.org
About
CaraFlow, LLC
CaraFlow streamlines healthcare workflow by providing solutions
for Patient Room Automation. Through
automated information recording, enhanced process efficiency, and increased
bottom-line savings, CaraFlow creates Patient Room Automation. CaraFlow’s
NurseSaver System, implements Patient Room Automation to help healthcare
organizations run smoothly and efficiently by automating charge and event
capture. NurseSaver allows caregivers to electronically capture and
submit charges for procedures, medical equipment, and supplies. This
automated approach replaces the inefficient process involving paper charge
sheets, tedious computer entries and daily charge audits. Through the NurseSaver System, CaraFlow
automates labor-intensive processes and gives healthcare organizations the
opportunity to gain a competitive advantage. www.caraflow.com
About Versus Technology, Inc.
For
nearly 20 years, Versus Technology, Inc. has maintained the leadership position
in the development and sale of context-aware real-time location systems (RTLS) used for enterprise patient tracking, bed management and asset
tracking to improve patient
flow and caregiver/patient
communications in hospitals, clinics and long-term care facilities. Versus also
develops dual infrared and Active RFID tags and other location tracking
hardware to make locating systems more precise, security systems more
intelligent, nurse call systems automatic, and hospital asset tracking systems
more efficient. Indoor positioning through Versus’ RTLS enhances existing
hospital software and patient care systems with real-time, reliable bed-level
location information. The patented Versus IR and Active RFID patient and asset tracking system is exclusively endorsed by
the American Hospital Association and is a key component of their Patient Flow
Platform—which includes a select group of vendors that provide proven solutions
to enhance patient flow and improve patient safety. (www.versustech.com; Pink Sheets: VSTI.PK)
Safe Harbor Provision
This
document may contain forward-looking statements relating to future events, such
as the development of new products, the commencement of production, or the
future financial performance of the Company. These statements fall within the
meaning of forward-looking information as defined in the Private Securities
Litigation Reform Act of 1995. These statements are subject to a number of
important risks and uncertainties that could cause actual results to differ
materially including, but not limited to, economic, competitive, governmental,
and technological factors affecting the Company’s markets and market growth
rates, products and their rate of commercialization, services, prices and
adequacy of financing, and other factors. The Company undertakes no obligation
to update, amend, or clarify forward-looking statements, whether because of new
information, future events, or otherwise.
###
Media
Contact: Investor/Analyst
Contact:
Versus Technology, Inc. Versus Technology,
Inc.
Stephanie Bertschy, Director of Marketing Joseph Winowiecki, Chief
Financial Officer
877.983.7787 231.946.5868
skb@versustech.com joew@versustech.com
