TMCnet News
HTX provides financing to Ontario-based PatientOrderSets.comTORONTO, Apr 20, 2011 (Canada NewsWire via COMTEX) -- Order Sets Critical to Reducing Healthcare Costs, Expediting Treatment and Ensuring Quality of Care and Patient Safety HTX today announced it is providing $750,000 in financing to PatientOrderSets.com to enable integration of their technology platform with leading Computerized Provider Order Entry (CPOE) and Electronic Medical Record (EMR) systems. The company currently offers a collaborative, web-based content management system that over 140 hospitals use to manage order sets, delivered by either web or paper-based implementation. PatientOrderSets allows hospitals and physicians to customize and deploy evidence-based order sets created through a collaborative care-team model. The total project value is over $2 Million and will create eight high quality jobs during development of PatientOrderSets next generation product. Dr. Chris O'Connor, a Critical Care Physician at Trillium Health Centre founded PatientOrderSets to commercialize this needed resource in 2006 following the development of order sets in the Intensive Care Unit and subsequent expansion to all hospital departments across Trillium. Consistent use of evidence-based order sets in healthcare institutions has been shown to dramatically improve the quality of care and ability to manage care in a predictable, safe way while reducing medical errors. PatientOrderSets.com allows medical specialists to capture their specialized expertise in orders for use by all providers, while allowing departments to manage the integration of those components into their daily orders. Lack of comprehensive, standardized physician order sets is a significant barrier to the successful implementation of full EMRs and CPOEs within hospitals, slowing the realization of patient safety and the quality care benefits that they enable. In partnership with Trillium Healthcare and support from the Ontario Hospital Association, Dr O'Connor states, "PatientOrderSets creates a mechanism for multi-disciplinary, evidence-based policy and integrates all stakeholders during order set development, which encourages clinician buy-in and support." "There is little question that evidence-based order sets are a critical component of a high-quality, sustainable health system, regardless of the country. We believe the unique approach employed by PatientOrderSets, combined with their large installed base of customers and customer-oriented delivery model, gives them a highly differentiated offering of significant value to customers," said John Soloninka, President & CEO, HTX. "HTX is leading the way in helping ensure our best and brightest entrepreneurs get their healthcare technologies to market, and we're proud to support their great work," said Ontario Minister of Research and Innovation, Glen Murray. The results are better healthcare and more high quality jobs for Ontario families." About HTX From Invention through to Innovation to International Invoice, HTX supports emerging and established Ontario-based companies to develop, produce and commercialize innovative market-leading advanced health technologies. HTX is funded by the Government of Ontario through the Ministry of Research and Innovation. For more information about our programs and services, please visit www.htx.ca. About PatientOrderSets PatientOrderSets.com is a unique web-based collaborative network that allows hospitals and health care institutions to develop, share and deploy clinical order sets. The only collaborative order set network in the world, PatientOrderSets.com is a platform for connecting health care experts and creating new medical knowledge. In 2006, the Trillium order set project won the first Ministry of Health and Long Term Care award for innovation in patient safety and quality for improvements in patient care. Based on collaboration from health care experts from across Trillium, Dr. Chris O'Connor saw an opportunity to expand this collaboration across other healthcare institutions and PatientOrderSets.com was created. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/April2011/20/c5712.html SOURCE: htx.ca - the Health Technology Exchange (HTX) |