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Children's Hospital of Wisconsin Extends Real-Time Asset Tracking and Automated Charge Capture to their New Patient Pavilion

TRAVERSE CITY, Mich., April 6 /PRNewswire-FirstCall/ --

"The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency." ~Bill Gates

Children's Hospital of Wisconsin (CHW) has experienced the positive effects of technology firsthand with the infrared (IR) real-time asset tracking and automated charge capture systems. The system, NurseSaver(TM), is based on a technology developed by CaraFlow, LLC utilizing additional real-time locating system (RTLS) technology from Versus Technology, Inc. (Versus).

Having demonstrated considerable success with the system in a variety of areas such as:

  • A positive ROI through recovered charges and increased revenue
  • Savings through reduced rentals, search times and quicker equipment turnaround
  • Staff satisfaction with ease-of-use and reduced manual entry
  • Fewer billing errors and inquiries

CHW recently expanded the system to their new West Tower which opened March 30th, 2009. The West Tower is a 425,000-square-foot addition and includes 12-stories of patient clinics and specialized rooms. The addition takes the 236-bed hospital to 294 beds, with capacity for an additional 72 beds in the future.

By tracking the equipment in real-time using a system of sensors and ID tags from Versus and CaraFlow's wall-mounted NurseSaver units, CHW has significantly improved asset utilization, allowing them to eliminate 75% of their infusion pump rental expenses. CHW has also increased equipment billing accuracy from 80% to just under 100%, representing millions of dollars in recovered charges.

The combined technologies operate according to straightforward, well-defined processes that require minimal time and effort but offer significant results. Notably, this process requires only one human-to-technology interaction in order to automate charge capture. From that day on, equipment charges are automatically submitted to the hospital's billing system. The rest of the caregiver's time can be spent focusing on their patients, rather than finding equipment and attempting to accurately record which patient is using which pieces of equipment and when.

Prior to the NurseSaver and Versus locating systems, caregivers had difficulty even finding equipment in order to use it. With the technologies, CHW has eliminated the inefficiencies related to equipment searches while increasing asset utilization and decreasing the need for equipment rentals. Moreover, prior to these systems being in place, CHW could not accurately capture equipment charges, and the attempt resulted in missed billings.

The combined technologies from CaraFlow and Versus help increase safety and efficiency, while reducing overhead costs. This accurate billing and reimbursement mechanism is exactly what the healthcare industry will be searching for as the $20 billion stimulus stemming from President Obama's HITECH (Health Information Technology for Economic and Clinical Health) Act and revised CMS (Centers for Medicare and Medicaid Services) reimbursement requirements begin to impact national and regional hospitals.

Both technologies will be showcased April 5-8 at the Healthcare Information Management Systems Society (HIMSS) conference in Chicago, IL. CaraFlow is located at booth #4754 and Versus is in booth #4651.

About Children's Hospital of Wisconsin

Children's Hospital of Wisconsin, founded in 1894, provides a comprehensive and integrated pediatric healthcare delivery model which delivers superior quality and value by offering the best solution for the total health care needs of children within the community, state, and region. The 294-bed hospital is located near Milwaukee, in one of the leading centers for pediatric healthcare in the United States. The hospital provides inpatient care, including transport of critically ill or injured children and intensive care services, and more than 70 specialty outpatient clinics that care for the full range of pediatric health care needs. In its February 2009 issue, Parents Magazine rated Children's Hospital of Wisconsin 3rd in the nation in its Best Children's Hospitals survey.

About CaraFlow, LLC

CaraFlow streamlines healthcare workflow by providing solutions for Patient Room Automation. Through automated information recording, enhanced process efficiency, and increased bottom-line savings, CaraFlow creates Patient Room Automation. CaraFlow's NurseSaver System, implements Patient Room Automation to help healthcare organizations run smoothly and efficiently by automating charge and event capture. NurseSaver allows caregivers to electronically capture and submit charges for procedures, medical equipment, and supplies. This automated approach replaces the inefficient process involving paper charge sheets, tedious computer entries and daily charge audits. Through the NurseSaver System, CaraFlow automates labor-intensive processes and gives healthcare organizations the opportunity to gain a competitive advantage.

About Versus Technology, Inc.

Versus Technology, Inc. is the leader in the development and sale of context-aware real-time location systems (RTLS) used for enterprise patient tracking, bed management and asset tracking to improve patient flow and caregiver/patient communications in hospitals, clinics and long-term care facilities. Versus also develops dual infrared and Active RFID tags and other location tracking hardware to make locating systems more precise, security systems more intelligent, nurse call systems automatic, and hospital asset tracking systems more efficient. Indoor positioning through Versus' RTLS enhances existing hospital software and patient care systems with real-time, reliable bed-level location information. The patented Versus IR and Active RFID patient and asset tracking system is exclusively endorsed by the American Hospital Association and is a key component of their Patient Flow Platform--which includes a select group of vendors that provide proven solutions to enhance patient flow and improve patient safety. (; Pink Sheets: VSTI.PK)

Safe Harbor Provision

This document may contain forward-looking statements relating to future events, such as the development of new products, the commencement of production, or the future financial performance of the Company. These statements fall within the meaning of forward-looking information as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, economic, competitive, governmental, and technological factors affecting the Company's markets and market growth rates, products and their rate of commercialization, services, prices and adequacy of financing, and other factors. The Company undertakes no obligation to update, amend, or clarify forward-looking statements, whether because of new information, future events, or otherwise.

SOURCE Versus Technology, Inc.
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