CareView Communications Awarded Vizient Contract for Patient Safety System

Rhea-AI Summary

CareView Communications, Inc. (OTCQB: CRVW) has secured a multi-year contract with Vizient, Inc., the largest healthcare performance improvement company in the U.S. This contract enables Vizient members to access pre-negotiated pricing for CareView's Patient Safety System, a telesitting and virtual nursing solution. The technology aims to address staffing shortages, reduce patient falls by up to 80%, and lower sitter costs by over 65%. The system utilizes patented Virtual Bed Rails® to enhance patient safety and improve operational efficiency for healthcare providers.

Positive

• Acquisition of a multi-year contract with Vizient, expanding market reach.
• Potential for cost savings for healthcare providers and enhanced patient safety.
• Technology shown to significantly reduce patient falls by 80% and sitter costs by over 65%.

Negative

• None.

LEWISVILLE, Texas--(BUSINESS WIRE)-- CareView Communications, Inc. ("CareView" or the "Company") (OTCQB: CRVW), an information technology provider to the healthcare industry, has been awarded a contract for its CareView Patient Safety System®, a solution for telesitting and virtual nursing, with Vizient, Inc., the nation’s largest health care performance improvement company. Vizient’s diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks, and non-acute health care providers, and represents more than $130 billion in annual purchasing volume.

The multi-year agreement allows Vizient members the opportunity to benefit from pre-negotiated pricing for CareView products.

“We are excited to provide a comprehensive patient safety and virtual care solution through this new agreement with Vizient, especially at a time when nurses and caregivers are being asked to do so much more with much fewer resources,” said Steve Johnson, CareView’s CEO. “CareView’s latest equipment will address hospital staffing shortages, ease care burdens, and improve care efficiency by having a camera in every at-risk and high acuity patient room.”

The CareView Patient Safety System, anchored by patented Virtual Bed Rails® and Virtual Chair Rails®, uses predictive technology to differentiate between normal patient movements and behaviors of an at-risk patient. This results in fewer false alarms, quicker staff interventions, and a significant reduction in patient falls. Furthermore, CareView Patient Safety System supports virtual nursing workflows for admissions and discharges to help reduce labor costs, improve efficiency, decrease staff burden and burnout, and enhance patient engagement.

“At CareView, our mission is simple - reduce sitter costs, lower patient falls, and inspire a culture of always-on safety and care in every facility running the CareView Patient Safety System,” stated Sandra McRee, CareView’s COO. “Under the new Vizient contract, we can continue to grow our commitment to that mission.”

About CareView Communications, Inc.
As a leader in turnkey patient video monitoring solutions, CareView is redefining the standard of patient safety in hospitals and healthcare facilities across the country. For over a decade, CareView has relentlessly pursued innovative ways to increase patient protection, providing next generation solutions that lower operational costs and foster a culture of safety among patient, staff and hospital leadership. With installations in more than 150 hospitals, CareView has proven that its innovative technology is creating a culture of patient safety where patient falls have decreased by 80% and sitter costs have decreased by more than 65%. Anchored by the CareView Patient Safety System, this modular, scalable, solution delivers flexible configurations to fit any facility while significantly increasing patient safety and operational savings. All configurations feature HD cameras, high-fidelity 2-way audio/video, LCD displays for the ultimate in capability, flexibility, and affordability. Corporate offices are located at 405 State Highway 121 Bypass, Suite B-240, Lewisville, TX 75067. More information about the Company and its products and services is available on the Company’s website at www.care-view.com.

Forward Looking Statements
Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and

assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230314005264/en/

Steven G. Johnson

President and Chief Executive Officer

CareView Communications, Inc.

(972) 943-6050

Source: CareView Communications, Inc.