Health Recovery Solutions
 | |
| Private | |
| ISIN | 🆔 |
| Industry | Healthcare |
| Founded 📆 | 2012 |
| Founder 👔 | |
| Headquarters 🏙️ | , |
Area served 🗺️ | United States |
Key people |
|
| Services | Remote Patient Monitoring and Telehealth |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Health Recovery Solutions, also known as HRS, is a national Remote Patient Monitoring and Telehealth company based in Hoboken, New Jersey. Primary services include software and medical devices that allow clinicians to monitor patients outside the typical care setting. The HRS user base consists of health systems, hospices, home health agencies, physicians, and payers who use the software platform to gather biometric data on their patients and allow clinical staff to communicate with patients through secure video calling and messaging.[1]
History[edit]
Health Recovery Solutions was founded in 2012 by three friends from Villanova University Jarrett Bauer (CEO), Rohan Udeshi (COO), and Daniel Priece (CTO).
The idea for HRS was initially created by Jarret Bauer when he discovered that his grandmother had been readmitted to the hospital due heart failure.[2] What he had noticed was that when a patient left the hospital, there was a lack of support, clinical engagement, and patient education and combined, these resulted in a readmission to the hospital. As a result, the three friends built HRS as a cloud-based, SaaS platform to provide remote patient monitoring and telehealth services.
In 2014, HRS clients were able monitor 600 patients and prevent 100 readmissions. HRS also released its tablet platforms for congestive heart failure, chronic obstructive pulmonary disorder, acute myocardial infarction and PNM. HRS also secured its first major funding, its Series A, on November 14, 2014.
In 2015, HRS launched integrations with several major EHR platforms including: Epic, Homecare Homebase, Brightree and McKesson.
In 2017, HRS launched its new inventory management platform which allowed customers to manage and track their medical devices.
In 2019, HRS secured its second round of funding, Series B, led by Edison Partners.
In 2020, Health Recovery Solutions was named by KLAS as a Category Leader for Remote Patient Monitoring
Currently HRS operates in 46 states with 220 health systems managing over 90 disease conditions.[3] To date,18,000 clinicians have used HRS to monitor over 225,000 patients.[4].
Services & Business Model[edit]
Health Recovery Solutions sells software to healthcare facilities to support remote patient monitoring and telehealth for patients post-discharge. The company offers its products to facilitate patient engagement through biometric monitoring, educational content, symptom surveys, medication tracking and reminders, on demand bidirectional calls and messaging and secure video visits.[5] HRS also provides a clinician web portal for centralized management of patient information.[6] Providers, patients and members can access the software through a variety of platforms, including tablet, mobile, and web.
The company offers inventory management, 24/7 clinical monitoring and white-labeling services. The HRS product integrates with a number of Bluetooth peripherals for biometric monitoring and the company has over 80 unique integrations with electronic health records (EHRs) for bidirectional flow of patient data for patient-level and population-level reporting.[7]
Clients use the HRS software to treat chronic diseases such as CHF, COPD, Diabetes, Heart Failure, Liver Transplant, Hypertension, AFib, Joint and Knee Replacement, and Cardiac Surgery.[8]
Partners[edit]
- Catholic Health in New York had 1,300 CHF patients with a readmission rate of 4.6% for 30 consecutive months using HRS. The rehospitalization data, collected from January 2016 to June 2018, is not time specific and instead reflects overall readmission rates for each quarter. They achieved quarterly readmission rates of 3% for these high-risk CHF patients.[9]
- Frederick Health in Maryland partnered with HRS in 2019 for their Chronic Care Management Program. Their program leader, Lisa Hogan, has presented their $5.1M in cost savings, 81% reduction in readmissions, and 50% reduction in ED visits.[10]
- Henry Ford Health System in Michigan partnered with HRS in 2019 where their e-Home Care Telehealth Program reduced 30-day readmission rates to 7%, driving payer partnerships. The system realized a 45% reduction in hospital readmissions for both chronic and post-surgery patients. Through patient education, Henry Ford achieved a daily patient adherence rate over 86%.[11]
- University of Pennsylvania partnered with HRS and showed over a 3-Year period Penn Medicine reduced all-cause readmissions by 73% among 818 chronic care patients.[12]
- MaineHealth used the HRS platform and realized a 75% reduction in overall 30-day hospital readmissions for 725 patients and cited 30-day hospital admissions in the range of .07% – 5% per quarter when compared to non-telehealth patients with 17% readmission rates. In this cohort, the average daily adherence for patients taking biometric readings was 85%.[13]
References[edit]
- ↑ "Health Recovery Solutions Announces Advanced Bluetooth Capability on Patient-Facing Mobile Telehealth Application". PRNewswire. Retrieved October 23, 2020.
- ↑ Canal, Emily. "This Founder Built a $4 Million Revenue Business in Health Care--With a Lot of Help From Mom". INC. Retrieved October 23, 2020.
- ↑ Holly, Robert. "Changemakers: Jarrett Bauer, CEO and Co-Founder, Health Recovery Solutions". Home Health Care News. Home Health Care News. Retrieved 26 October 2020.
- ↑ Bauer, Jarrett. "Keynote: Welcome to the Future". Health Recovery Solutions. Health Recovery Solutions. Retrieved October 23, 2020.
- ↑ Lee, Chris. "Colorado Visiting Nurse Association Partners with Health Recovery Solutions to reduce hospital readmissions for heart failure patients through a pilot telemedicine program". Colorado Visiting Nurse Association. Colorado Visiting Nurse Association. Retrieved October 23, 2020.
- ↑ "Hoboken Health Recovery Solutions Discharged Patient Aftercare App Launched". WBOC. WBOC. Retrieved October 23, 2020.
- ↑ Holly, Robert. "Changemakers: Jarrett Bauer, CEO and Co-Founder, Health Recovery Solutions". Home Health Care News. Home Health Care News. Retrieved 26 October 2020.
- ↑ "Banner Home Care expands health care to rural communities". Banner Health. Banner Health. Retrieved October 23, 2020.
- ↑ "HRS, Catholic Health Home Care: 4.6% Average Readmission Rate Over 30 Months for CHF Patients". BioSpace. BioSpace.
- ↑ "Frederick Memorial Hospital's Chronic Care Management Program Reduces Readmissions by 89% with HRS". Business Insider. Business Insider. Retrieved 26 October 2020.
- ↑ Wicklund, Eric. "With Telehealth Success in Hand, a Hospital Reaches Out to Payers". mHealthIntelligence. mHealthIntelligence. Retrieved 26 October 2020.
- ↑ Melissa, O’Connor1. "Using Telehealth to Reduce All-Cause 30-Day Hospital Readmissions among Heart Failure Patients Receiving Skilled Home Health Services" (PDF). Health Recovery Solutions. Health Recovery Solutions. Retrieved October 23, 2020.
- ↑ "1 Year Report: Maine's Leading Home Health Agency Reduces Readmissions by 75% with Cutting Edge Technology from HRS". BusinessWire. BusinessWire. Retrieved 26 October 2020.
External links[edit]
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