NEW YORK, July 22, 2015 /PRNewswire/ -- CipherHealth, a leading provider of innovations and tools designed to help healthcare providers improve patient care, today reported recent achievements and milestones for the first half of 2015. These half year results demonstrate CipherHealth's success in helping healthcare organizations achieve enhanced levels of patient care that lead to reduced readmission rates and higher HCAHPS scores, among other important outcomes.
Since its inception in 2009, CipherHealth has primarily focused on identifying, customizing and delivering modern, useful tools that enable healthcare providers to achieve a more patient-centric environment, both inside the hospital and post-discharge. The tools include ORCHID, which modernizes the important rounding process; VOICE, which enables more efficient and effective patient follow-up calls post-discharge; ECHO, which allows patients to access their discharge instructions from home at any time; and LINK, which enables patient monitoring through wearable monitoring devices, such as activity trackers.
Half Year 2015 Business Highlights:
- Better patient follow up: More than 1.6 million calls using follow-up call tool VOICE identified 64,000 potential readmission-risk issues for nurses to follow up on. These hospitals also gained over 1.5 million patient response data points to review and act on internally.
- Modern, digital patient rounding: Over 160,000 rounds on more than 54,000 patients were conducted with the ORCHID rounding tool. Digital rounding allowed healthcare providers to generate more than 1.2 million data points and identify over 5,200 issues, which, on average, were followed up on in under an hour and resolved in less than two hours.
- Company growth: CipherHealth more than doubled its workforce in the first six months of 2015 and has experienced 2X revenue growth, year over year since launching in 2009.
- New customer acquisitions: The Company reports 70 percent growth in new hospital customers, adding major health systems, including OSF Healthcare and Intermountain Healthcare, as well as academic, regional and local hospitals, including HealthAlliance of the Hudson Valley and Kingsbrook Jewish Medical Center.
- Product penetration: CipherHealth's products have been adapted and modified to service clinician and patient needs in more than 250 unique departments and programs, ranging from congestive heart failure (CHF) and neurological surgery to smoking cessation and outpatient surgery.
Zach Silverzweig, Co-Founder of CipherHealth, commented, "We entered 2015 with the goals of positioning CipherHealth for long-term, sustainable growth and creating an environment that cultivates the continued development of cutting-edge innovation. We are achieving these goals at encouraging rates as evidenced by customer growth and the further enhancements to our suite of products to make them more customizable and intuitive. But we're not done, not by a long shot. We will continue to push the boundaries, rise to the challenges our existing and new customers present, and work in concert with healthcare organizations to modernize the way healthcare providers and patients interact. It's an exciting time for Healthtech and we're proud to be a part of driving innovation forward."
CipherHealth's customers are reporting excellent results with both initial and continued use of the company's tools in driving better patient satisfaction and cost reductions. Added Silverzweig, "While one customer was able to reduce orthopedic patient readmissions by 52 percent in just six months, another has been realizing consistent double-digit reductions in congestive heart failure readmissions for over three years. Moreover, these reductions have a fundamental impact on penalties to CMS, where hospitals are reporting up to a 40 percent decrease in payments. Results like these are not unique and truly a testament to how well the products function and maintain their value."
In addition to business achievements, CipherHealth has continued to support the greater healthcare and technology communities. In the first half of 2015, the company created a marketing program to raise money for Brooklyn-based Digital Girl, Inc., which works with young girls to pursue careers in science, technology, engineering and math. CipherHealth presented a check to the founder of Digital Girl in May of this year. In addition, CipherHealth also donated money to the Nepalese American Nursing Association to assist in sending personnel and supplies to Nepal to aid in disaster relief following the catastrophic earthquake in April.
"As we continue with great momentum into the second half of the year, we're looking to roll out more robust and customizable solutions to our existing suite of products, as well as increase our global footprint in terms of development and sales," said Silverzweig. "We also remain hyper-focused on servicing our existing customers to ensure they continue to realize the tremendous benefits our products have already provided on a long-term basis."
Since 2009, CipherHealth has been innovating and delivering products to help care providers effectively and efficiently provide quality of care for their patients. By harnessing technology to improve patient outcomes and experiences, CipherHealth and its suite of products focus on the evolution of patient care. CipherHealth is based in New York City and was named "Best Place to Work in Healthcare" by Modern Healthcare (2014).