CareView Communications, Inc. Executes Hospital Agreement with Jefferson Hospital

Rhea-AI Summary

CareView Communications (OTCQB: CRVW) has inked a three-year agreement with Jefferson Hospital in Louisville, Georgia. This collaboration utilizes CareView's upgraded platform, featuring specialized camera solutions for monitoring in critical care settings, including negative pressure COVID-19 units. The new revenue model focuses on selling hardware with annual software licensing fees, aiming to streamline contract approvals. CareView has established its presence in over 150 hospitals, showcasing a significant reduction in patient falls and costs related to monitoring services.

Positive

• Executed a three-year contract with Jefferson Hospital, expanding reach.
• Updated revenue model promotes quicker hospital contract approvals.
• Proprietary technology contributes to patient safety, reducing falls by 80%.

Negative

• None.

CareView Communications, Inc. ("CareView" or the "Company") (OTCQB: CRVW), an information technology provider to the healthcare industry, today announced the execution of a hospital agreement with Jefferson Hospital in Louisville, Georgia, a public, non-for-profit hospital providing primary medical and surgical care to Louisville and surrounding communities since 1974. Jefferson Hospital and its three primary care facilities located in Louisville, Wadley and Wrens, Georgia, are devoted to family oriented primary care.

The three-year agreement with Jefferson Hospital was executed pursuant to the Company’s new revenue model following the expansion and modernization of its platform, which includes a variety of camera solutions specifically designed to address clinical needs in general safety, applications for use in ICUs, behavioral health settings, and negative pressure COVID-19 units. Jefferson Hospital is utilizing our platform in negative pressure COVID-19 units for continuous monitoring and patient interaction. Our telemedicine platforms are fully enabled for virtual nurse applications, which will help provide a more personal experience for patients by allowing face-to-face communication.

Sandra McRee, CareView’s Chief Operating Officer, stated, “We recently updated our contracting model to align with the preferred acquisition model in the hospital industry. We now sell hospitals our proprietary hardware and then charge them annually for a software licensing fee. We believe this model is providing a shorter approval time for each hospital contract. We are looking forward to installing our equipment in Jefferson Hospital to help them continue their excellent patient care while providing enhanced services to their negative pressure COVID-19 units and their community.”

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% 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/20210126005334/en/

FAQ

What recent agreement did CareView Communications announce?

CareView Communications announced a three-year agreement with Jefferson Hospital in Louisville, Georgia.

How does the new revenue model of CareView work?

CareView's new revenue model involves selling hardware to hospitals and charging an annual software licensing fee.

What specific applications does CareView's technology address?

CareView's technology addresses clinical needs in ICUs, behavioral health settings, and negative pressure COVID-19 units.

How many hospitals has CareView installed its technology in?

CareView has installations in over 150 hospitals across the country.

What improvements has CareView's technology provided to patient safety?

CareView's technology has led to an 80% reduction in patient falls and over 65% reduction in sitter costs.