ORhub, Inc. (OTC: ORHB), is a cloud-based health care software-as-a-service company whose primary aim is to improve the outcome and reduce costs of surgical care in a variety of hospitals and health care institutions in the United States.
Because many hospitals still rely on paper documentation to track everything that occurs during an operation, there is more space for mistakes, missing information, delays, and payment problems, as well as, generally, less opportunity to effectively improve procedures. ORhub’s digital platform eliminates a variety of the limitations and problems inherent with paper documentation.
Aside from reducing potential mistakes, the platform creates automatic records, streamlines tasks to save time, and enables rich data analysis across all of the hospital’s cases. This allows health care institutions to more easily determine whether comparable surgeries cost the same, the types of implants needed and how they are used, and any inventory that needs to be restocked.
In recent news, the company went through a merger (http://dtn.fm/3bllA) between MemReg, Inc. and ORhub, Inc., with MemReg formally changing its name and ticker symbol to align with its new identity. It’s part of a process to put together initiatives for improving liquidity, strengthening brand recognition, and preparing for future listing on a senior exchange.
Most recently, the company expanded its pilot program (http://dtn.fm/kO4H7) to include one of the top five highest-volume orthopedic hospitals in America. This hospital has been given a five-star rating by the U.S. Centers for Medicare and Medicaid and has been ranked as one of the best orthopedic hospitals in the country two years in a row by U.S. News & World Report. In addition, it is the highest volume provider of joint replacements in California, according to California’s Office of Statewide Health Planning and Development (OSHPD), and is one of only eight hospitals in the state to be classified as a “Highest-Rate Hospital” for knee and hip surgery in 2016 by Consumer Reports.
In a news release, Chief Technology Officer Wesley Mitchell commented, “Our goal is to cut $250 billion out of annual U.S. health care spending by reducing cost and increasing efficiency in surgical operations, which is roughly one-third of the $3 trillion spent on health care in the U.S. every year. Moving forward with one of the most efficient hospitals in the nation gives us a platform to show that what we are doing can have a significant impact at any hospital, even one already praised for its efficiency.”
For more information, visit the company’s website at www.ORhub.com
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