| Velos, Inc. began operations in 1996 to build application, Internet, and wireless device infrastructure software for the Healthcare Industry. Velos identified early on the transformation now underway in healthcare from information systems that supported discrete functions (e.g. clinical, billing, medical research) and constituencies (e.g. payer, provider, and drug/device supplier) to integrated systems that address multiple functional and constituency needs. Working with caregivers “in the trenches,” Velos found that entirely interrelated systems are almost entirely disintegrated. As a result, the same data elements are manually captured and reentered into four or more different manual or computer-based systems; one entry for labs, another for billing, a third for medical transcriptions, and so forth. This results in significant inefficiencies, revenue losses, regulatory compliance risks, and treatment errors that might otherwise be avoided. |
