careview communications inc (CRVW) Key Developments
CareView Communications, Inc. Executes Contract with Grady Memorial Hospital Corporation
Aug 12 14
CareView Communications, Inc. announced the execution of a three-year hospital contract with Grady Memorial Hospital Corporation. Under the agreement, CareView will install its entire line of CareView System(R) products and services for 402 of their licensed hospital beds including two innovative modules that help prevent patient falls and help to reduce sitter costs. The CareView Connect module allows the hospital to operate CareView's services remotely through hand-held tablets and mobile phones tied into the hospital's existing communication system. The CareView Broadcast System provides patients with educational videos regarding their specific ailment, patient satisfaction surveys relative to their hospital stay and the SerenityView network which provides soothing scenes and music on the TV at a patient's bedside. The contract also includes access to the CareView Guest Services Package which allows patients and their families to access the Internet, view on-demand movies and have video chats with their relatives during their stay. These services are tailored to the hospital's needs and help with the ever changing regulatory climate and attendant reimbursement issues.
CareView Communications, Inc. Announces Execution of Pilot Agreement with Baptist Medical Center Jacksonville
Jul 9 14
CareView Communications, Inc. announced the execution of a three-month pilot agreement with Baptist Medical Center Jacksonville. Under the pilot agreement, CareView has installed on a sample of beds at Baptist Jacksonville its CareView System products and services, including parts of its Primary Package (with NurseView, Virtual Bed Rails and Virtual Chair Rails modules, the CareView Fall Management Program and Rounding Alerts) and additional services including the Sitter Management Program and Nursing Alerts and Reminders. CareView utilizes unique patented technology to enhance patient safety and prevent patient falls. Virtual Bed Rails and Virtual Chair Rails can be set up remotely from a monitoring station or handheld device to passively monitor patient motion in and around the bedside. This technology has shown tremendous efficacy in reducing falls and providing advanced response times from nursing. Baptist Medical Center Jacksonville is using the technology as part of an overall enhancement to its culture of safety. Staff will be dedicated around the clock to watch the monitors and use existing hand-free communication devices worn by nursing staff to notify them in the event of a potential patient fall.
CareView Communications, Inc. Announces Additions to Board of Directors
Apr 15 14
CareView Communications, Inc. announced the addition of Steven B. Epstein and James R. Higgins, MD to its Board of Directors effective April 1, 2014. Mr. Epstein currently serves as chairman of the Columbia Law School Board of Visitors. Dr. Higgins currently serves as Associate Clinical Professor of Medicine at the University of Oklahoma School of Medicine in Oklahoma City, Oklahoma since 1986 and as Clinical Professor of Medicine at Tulsa Medical College in Tulsa, Oklahoma since 1991. Dr. Higgins is licensed to practice medicine in Missouri, California, Texas and Oklahoma.
CareView Communications, Inc. Announces Appointment of Steven B. Epstein and Dr. James R. Higgins as Director
Apr 7 14
Effective April 1, 2014, Steven B. Epstein and Dr. James R. Higgins were elected to the CareView Communications, Inc.'s Board of Directors. Upon their election, the company issued Mr. Epstein and Dr. Higgins a non-qualified stock option (the Option) for the purchase of 500,000 and 150,000 shares, respectively, of the company's Common Stock. Mr. Epstein serves on the Board of Directors for Street Law, Inc. He also serves on the Board of Directors for the following for profit companies: Accretive (Accumen), Catamaran Corporation, Discovery Health, National Compliance Solutions, Inc., OrthoSensor, Inc., ResCare, Restorix Health and Solis Women's Health. For the past 37 years, James R. Higgins, MD of Tulsa, Oklahoma, has specialized in clinical cardiac electrophysiology, cardiovascular disease, interventional cardiology and internal medicine.
CareView Communications, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
Apr 2 14
CareView Communications, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2013. The company reported net revenues from the fourth quarter 2012 compared to fourth quarter 2013 show an increase of over 130% and negative EBITDA numbers from the fourth quarter 2012 were reduced in fourth quarter 2013 from an EBITDA loss of $2,768,000 to an EBITDA loss of $960,000.
For the year, the company reported significant improvements in net revenue growth and reduction of EBITDA losses. The company increased its net revenue over 2012 by a margin of over 26% and decreased EBITDA losses by a margin of over 44%. While the overall yearly improvement shows positive acceptance by the market and continued efforts by the company to reach profitability, the fourth quarter trends have a much higher sign of positive impact.