CareView Communications Executes Agreement With a Large For-Profit Health System Division

Rhea-AI Summary

CareView Communications (OTCQB: CRVW) has signed a three-year agreement with a major for-profit health system to deploy its Patient Safety System® in seven facilities across 80 mobile units. This partnership integrates with the health system's electronic health record and nurse communication systems to enhance clinical workflows and response times. CareView's system aims to improve patient care and safety, with notable reductions in patient falls and sitter costs in existing installations. The technology has shown an 80% decrease in patient falls and a 65% reduction in sitter costs over the past decade.

Positive

• Secured a significant three-year agreement with a major health system.
• Plans to deploy Patient Safety System in seven facilities using 80 mobile units.
• Proven technology that has decreased 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), a technology provider to the healthcare industry, today announced the execution of a hospital agreement with a division of one of the largest for-profit health systems in the country. CareView’s Patient Safety System® will be installed via 80 mobile units in seven facilities throughout the division.

This partnership leverages exclusive integrations with the health system’s electronic health record (EHR) and nurse communication systems for enhanced clinical workflows and improved response times, providing a total system solution.

Sandra McRee, CareView’s Chief Operating Officer, stated, “CareView’s latest equipment enables caregivers and staff to deliver the highest quality patient care, reducing falls and one-to-one sitters, particularly of at-risk and isolation unit patients who may require more observation. We look forward to supporting the success of our newest partner.”

The three-year agreement was executed under the Company’s sales-based pricing model. CareView’s innovative Patient Safety System now includes a variety of camera solutions specifically designed to address clinical needs in general safety and applications for use in ICUs, behavioral health settings, and negative-pressure COVID-19 units. CareView’s system gives hospitals confidence in their efforts of increasing quality care and patient safety.

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 patients, 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% with sitter costs reduced 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/20220119005142/en/

Steven G. Johnson

President and Chief Executive Officer

CareView Communications, Inc.

972-943-6050

Source: CareView Communications, Inc.

FAQ

What is the latest agreement announced by CareView Communications (CRVW)?

CareView Communications (CRVW) announced a three-year agreement to install its Patient Safety System in seven facilities of a major for-profit health system.

How many mobile units will CareView's Patient Safety System be installed in?

The Patient Safety System will be installed via 80 mobile units across seven facilities.

What are the benefits of the Patient Safety System installed by CareView?

The Patient Safety System improves clinical workflows, response times, and enhances patient safety, reportedly reducing falls by 80% and sitter costs by over 65%.

Which healthcare systems will benefit from CareView's technology?

The technology will benefit a division of one of the largest for-profit health systems in the U.S.