COMPANY
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FOR IMMEDIATE RELEASE
Contact:
Madalynne Chapman: (510) 608-5744 mchapman@velos.com
VELOS UNLEASHES “KILLER APPLICATION” FOR SPECIALTY MEDICINE
San Francisco, CA — April 6,
2001 — Velos, Inc., an innovative provider of software for
healthcare providers and information system suppliers, announced
today the long-awaited production release and implementation of a
complete end-to-end clinical, administrative, and financial solution
for specialty medical care.
“For a long time, people in the
medical community, ourselves included, have been challenged in our
attempts to implement clinical information systems,” notes John
McIlwain, Chairman of Velos. “There are two major reasons for this:
The inability of many such systems to add value, rather than simply
replace a paper chart; and the lack of a clear, compelling financial
motivation for the provider. At Velos, we’ve always believed that
clinical systems are as much about helping healthcare providers
become more profitable and driving the financial system as they are
about quality. These are two, entirely interrelated sides of the
same coin. We’ve now proven this and achieved substantial returns,
both quality and financial, for our customers.”
“We really
look at patient outcomes,” comments Ms. Gail Hamm, Chief
Administrator of Comprehensive Dialysis Center, a large New York
dialysis center and Velos customer. “If the patient outcomes are
better, there are fewer hospitalizations, fewer complications and
fewer missed treatments at the facility. We have a weekly meeting
where we discuss these trends and Velos easily gives us the data we
need to do this. Before, it was just too
labor-intensive.”
Dr. Stephen Ash, a renowned Nephrologist in
the 150 physician, multi-specialty Arnett Clinic in Lafayette,
Indiana, is Medical Director of four dialysis units affiliated with
the hospitals of Greater Lafayette Health Services. Dr. Ash and his
colleagues use Velos in his private practice sites, standalone
dialysis clinic, hospital-based units and within the hospitals. “One
of the many things you get with Velos, that you won’t get with any
other vendor, is a complete history and physical…at the push of a
button,” Dr. Ash remarks. “Every vendor will tell you that they
automate history and physical, and every doctor will tell you they
should absolutely have a complete problem list and history and
physical, but they are never automated and rarely complete. The
combination of quality and efficiency in Velos is
exceptional.”
“If you look at our office on a day-to-day
basis, I bet our office is 50% more efficient with Velos than it
used to be,” continued Dr. Ash. “People in my clinic come by and
marvel at how our nurses work.…Velos is light years ahead of our old
paper-based system.… And my staff loves it. Velos, as in ‘velocity,’
was aptly named.”
Ms. Hamm also observed: “For a center our
size, if we were to assume that the majority of medication billings
are correctly downloaded, you could easily miss a sizeable amount of
billable revenue per month just in medications billings alone….If
you look at the total cost of implementing Velos, one can argue that
the system pays for itself well within a year for that one feature
alone…with Velos, I don’t know what it does to purr, but it purrs
very nicely.”
Jim Rossiter, Velos President and CEO,
explains: “This is why I came to Velos after directing IBM’s North
American clinical solutions business. We have the substantial,
breakthrough technology that integrates clinical and financial needs
that will help transform an industry plagued with inefficient
clinical and business processes.”
Velos is currently rolling
out its production-ready, customer-tested specialty medical product
suite in the renal market and plans to begin accepting new orders in
the cardiology, transplantation, and oncology fields, later this
year. Together, these four specialties account for more than 40% of
healthcare expenditures in the United States. Full interview
transcripts with Dr. Ash and Ms. Hamm are available on the Velos
website, www.velos.com.
About Velos
Velos is
a leading designer and developer of innovative healthcare
information systems. Velos provides an integrated clinical and
administrative product suite for specialty medicine and clinical
research. Velos markets its software solutions, together with system
integration and support services, to healthcare providers and
clinical trial sponsors. Velos is privately held with headquarters
in Silicon Valley.
This press release contains
forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those set forth in the forward-looking statements. These
forward-looking statements represent Velos’ judgment as of the date
of this release. Actual results may differ materially from those
projected. Velos disclaims any intent or obligation to update these
forward-looking statements.
Information regarding the press
release may be obtained by contacting Madalynne Chapman
(510-608-5744 / mchapman@velos.com) or visiting
our website: www.velos.com
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