The ETF Innovators Health IT Index has been a strong performer over the past month, with many of the major components outpacing the 6% gain in the S&P 500 ETF (SPY) during that period. The following are some top performing stocks which have posted double digit stock price gains in the past month among the most well known components in the index: Allscripts-Misys (MDRX) up 10%, Computer Programs & Systems (CPSI) up 19%, Cerner (CERN) up 25%, Eclipsys (ECLP) up 18%, and National Research Corp. (NRCI) up 15%.
A recent addition to the Health IT Index is CareView Communications (CRVW.PK), which offers the CareView System as a high-speed data network that can be deployed throughout a healthcare facility utilizing the facility's existing cable television infrastructure along with the Company's control server to provide real-time patient monitoring, recording, and documentation. This system offers secure, real-time video monitoring for continual observation of a patient's room and adapts to each facilities existing IT network.
CareView has developed 10 products, including SecureView (video monitoring system), NurseView (patient room viewing system), PatientView (remote viewing of patient rooms by families), FacilityView, NetView (Internet access in patient room), PhysicianView (e-visits and video rounds by computer), EquipmentView (wireless connectivity with equipment and devices in patient rooms), MovieView, BabyView, and Virtual Bed Rails. The CareView System is fully compliant with the Health Insurance Portability Accountability Act of 1996 (HIPAA). The CareView System can be easily configured to meet the individual privacy and security requirements of any hospital or nursing facility. CareView is committed to becoming a leading information technology provider to the healthcare industry.
As of last year, CRVW has installed two CareView systems in hospitals; so it is in the early stages of commercialization. The company's CareView products and on-demand services are designed to increase access to medical care, patient information, and education for consumers and healthcare professionals based on communications technology and the Internet. The company intends to leverage the CareView System to provide content, entertainment and advertising to patients, families and healthcare professionals. The target markets for the CareView System are hospitals and nursing homes in the U.S. with an estimated 1.7 million beds.
Former Health and Human Services Secretary Tommy G. Thompson is the nation's leading advocate for the health and welfare of all Americans and serves at the Company's Chairman of the Board. Last month, CRVW appointed Samuel A. Greco as the CEO and expanded the Board to seven members with one remaining seat to be filled. Mr. Greco has over 30 years of experience in hospital administration, spending the past 10 years in a consulting role to improve operating results and building an extensive network of contacts among hospital executive management teams in the process.
CareView has about 101M shares of common stock outstanding, a $170M market cap, $300K cash/equivalents, $1.7M in long-term debt, a net loss of ($651K), and revenue of $10K (as of the last interim financial statement filing). CRVW is assembling a solid executive management team (including former Health and Human Services Secretary Tommy G. Thompson) to capitalize on increased spending and awareness of the need to implement Health IT to improve patient care and treatment outcomes in a cost effective manner.