Spine Pain Management has announced the Quad Video HALO Technology V.2.0.
“With the introduction of the new QVH 2.0 and ancillary revenue streams, I believe that the company's building model is progressing through a dynamic process of operational refinement, technological development and industry perspicacity,” Dr. William Donovan CEO of the Houston-based company, said. “I want to thank our loyal shareholders for their patience and, as the company's largest shareholder, I eagerly look forward to resumption of our early growth and commensurate increase in shareholder value."
The Quad Video Halo 2.0 is an aftermarket device that hooks onto fluoroscopic guidance systems, allowing doctors to view spinal operations close-up, with an aim to improving the accuracy of these procedures as well as patient outcomes. Doctors also use these radiological devices to diagnose the sources of spinal pain.
The device also documents procedures, which can help reduce the possibility of fraud by doctors in both consultation and actual procedures. The evidence will show that the doctor is performing procedures that the patient actually needs, and isn’t charging patients or insurance companies for unnecessary procedures.
The company also hopes that the new version will attract the “best of the best” into its network, and give patients more choice in the current consumer-driven era in healthcare.
Spine Pain Management also hopes the new QVH 2.0 will give it ancillary revenue streams.
“As was previously discussed, Spine Pain Management retained a New York-based management consultant last summer to conduct a top to bottom review of the company, including a thorough evaluation of the long term prospects of our existing business model, protocols for the deployment of ongoing resources and the development of action steps and metrics to measure the performance of these initiatives on an ongoing basis,” Dr. Donovan said. “These action steps were designed to deliver increased profitability to our business model. I am pleased to report that the company has added these new revenue streams and we anticipate additional revenue streams will be introduced over the next several months. Over the past few months, we have been building a strong cash position as collections on seasoned cases have also been accelerating as we expected."
Edited by Brooke Neuman