NEWPORT BEACH, Calif., Aug. 27, 2018 /PRNewswire/ — ORHub, Inc. (OTCQB: ORHB) (the “Company” or “ORHub”), a HIPAA compliant, physician-driven digital software company focused on improving profitability and the cost effectiveness of hospitals through real-time smart data and analytics, today announces the expansion of its core platform capabilities with new products coming to market that improve the way Current Procedural Terminology (CPT) codes are used at hospitals to control costs through more accurate reimbursement and SMART™ Scanning documentation system to free nurse time per surgical case.
“Our internal research indicates that our taxonomy approach to optimizing reimbursement and our proprietary scanning and parsing technology resolve chronic surgical problems by uncovering missed revenue opportunities and capturing time savings that could result in millions of dollars of efficiencies that can be recovered per hospital,” said Colt Melby, Chief Executive Officer of ORHub. “We are excited to scale our modules to market in the next quarter and will continue to work with our clients to provide breakthrough technological solutions that align with value-based healthcare.”
CPT codes are used to accurately identify the service performed and the assignment of a specific code requires adequate documentation that matches with the code definition. Documentation that is incomplete, vague or lacking certain required components of the CPT code definition may result in medical services that are not reportable for reimbursement and quality measures.
ORHub’s core platform has provided unique and transparent insights into what actually happens in a surgical case, which allows hospitals to both increase their operating efficiencies while realizing more efficient reimbursement. The current industry standard for analytics today is grouping case durations, costs and outcomes by CPT codes. However, CPT codes lack the granularity of information for a surgeon to support a change in practice or for an administrator to identify meaningful variances in care in order to take effective action. We believe ORHub has resolved this problem by developing a taxonomic application that allows more accurate and intelligent CPT coding and aligns with CMS’ value-based reforms including the Patients over Paperwork initiative.
ORHub’s SMART™ Scanning module is an intuitive and automated materials documentation system that according to our internal research may save up to ten minutes of nurse time per surgery. Surgical teams now have the necessary materials documented in the operating room to support the care teams’ focus on patient care.
About ORHub, Inc.
ORHub, born from the Microsoft for Start-Ups program, is HIPAA-compliant advanced surgical software provider focused on Revolutionizing the Business of Surgery™ through the foundation of electronic data capture at the point-of- surgical care to improve workflow, simplify work processes and access real-time data intelligence. The Company’s suite of products serves the needs of the health care industry including providers, patients, the government and the medical device vendors. ORHub provides a cloud-based software solution that captures information before, during and after surgery, filling a void in the current surgical information infrastructure and providing the first process to capture and measure the surgical process — evolving Big Data into Intelligent Digital Data.
Hospitals and surgeons can make real-time, data-driven decisions to improve business profitability and the quality of patient care. This innovative technology results in hospitals understanding costs and identifying areas of cost reductions, as well as results in increased accountability, automatic creation of comprehensive anatomic implant registries, real-time analytics, improved efficiencies, and compliance with existing government regulations. ORHub has offices in Tempe, Arizona; Southern California; Bellevue, Washington; and Jacksonville, Florida.
To view a previously released Microsoft Case Study on HOI and ORHub visit:
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company’s ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new software product business.