236% Increase in Weekly Gross Revenue Releases New EHR Syst. Medivolve's Electronic Health Record Portal Enhances End User Experience Improving Patient Access to Records, Lab Workflow, and Reporting
TORONTO, Aug. 17, 2021 /CNW/ - Medivolve, Inc. ("Medivolve" or the "Company") (NEO: MEDV) (OTC: COPRF) (FRA: 4NC) is pleased to announce a 236% increase in gross weekly revenues, driven by an influx of COVID-19 testing sales, proceeding the beta launch of the Company's new Electronic Health Record (EHR) platform on July 7, 2021.
The HIPAA-compliant portal is introducing new opportunities to support the Company's change in testing operations in its network of retail collection site locations across the United States. Since adopting the new portal in early July:
- Record gross revenues of $1,005,050 based on the weekly average from July 4, 2021, to July 31, 2021, increased 236% compared to the $298,740 weekly average from the prior 4-week period June 6, 2021, to July 3, 2021.
- Record gross revenues per patient encounters increased 158%, based on the weekly average of $150.00 per patient from July 4, 2021, to July 31, 2021, compared to $58.00 per patient weekly average from June 6, 2021, to July 3, 2021.
- Record tests per week increased 231%, based on the weekly average of 16,794 tests performed from July 4, 2021, to July 31, 2021, compared to 5,077 tests based on the weekly average from June 6, 2021, to July 3, 2021.
"Medivolve's new portal has simplified and streamlined our ability to provide testing at a rate we've never seen before," says David Preiner, CEO of Medivolve. "Due to the new efficiencies the portal brings, patients can now receive all appropriate tests required to determine if they are COVID-19 positive, negative, or have developed antibodies."
In addition to an easy-to-use simplified user interface, the software not only offers proficiencies in operational and financial workflows between the collection sites locations and its partnered labs but expedited lab results to its patients as well.
Noteworthy features and benefits of Medivolve's EHR include:
- Computerized provider order entry (CPOE) improving data capture quality and aiding laboratory compliance
- Improvements from testing locations to CLIA certified laboratory workflow enabling quicker entry of patient information and certified results
- Access to real-time data providing patients the opportunity to make informed decisions about returning to school, work, or social gatherings
- Built-in quality control bringing uniformity, traceability, and accountability to testing services across all testing locations
- Upgraded security to meet healthcare regulations and compliance guidelines
"I am extremely pleased with the implementation of the new portal allowing us to test patients in the communities we serve quickly," says Preiner. "In just the past five weeks, our testing centers are administering more tests than during our peak last December. That, combined with our new insurance reimbursement model, contribute immensely to our continued strong financial growth."