Yesterday’s close for an information technology provider to the healthcare industry, CareView Communications, Inc. (OTCQB: CRVW) was 19.50% higher at $0.2390. The volume of CareView stock traded on the day amounted to 108.09K compared to its average weekly volume of 195.09K. The CRVW stock price increased following an announcement that it would be providing the latest hardware and software to a regional hospital group.
For what was the contract made?
CareView has begun to reshape the standards of patient safety in hospitals and healthcare facilities across the country by providing turnkey patient video monitoring solutions. Since its inception a decade ago, CRVW has provided patients, hospitals, and staff with innovative solutions that lower operational costs while fostering a culture of safety. CRVW has proven its innovative technology has contributed to preventing patient falls by over 80% and reducing sitter costs by more than 65% by installing it in 150 hospitals across the nation.
CareView announced yesterday that it has entered into an agreement with Maury Regional Hospital in Columbia, Tennessee (“Maury Regional”).
- Being part of Maury Regional Medical Group (“Maury Medical Group”), Maury Regional is the flagship hospital of the Group.
- CRVW’s latest Gen 5 hardware and software offerings have been included in the agreement for three years with Maury Regional.
- In particular, this includes a variety of camera solutions that have been designed to address clinical safety requirements.
- It also includes applications intended for use in ICUs, behavioral, and other medical settings, as well as the COVID-19 unit utilizing negative pressure.
- CareView’s solution for improving in-room patient safety and reducing patient falls and is scalable and powerful enough to deliver overall operational savings for hospitals of any size.
CRVW will accomplish what?
In addition to being the largest hospital between Nashville, TN, and Huntsville, AL, Maury Regional is also ranked #1 in the state on several patient safety initiatives and has been nationally recognized for quality health care by Leapfrog Safety Grade. Such a business will allow CareView (CRVW) to not only expand its portfolio but also generate revenue to benefit the CRVW and stakeholders.