ivWatch Awarded New Innovative Technology Contract From Vizient, Inc
HAMPTON, Va., August 29, 2017 (Newswire.com) - ivWatch, LLC, the leading provider of continuous monitoring devices for the early detection of peripheral IV infiltrations, announced it has been awarded an Innovative Technology contract from Vizient, Inc., the largest member-driven health care performance improvement company in the country.
The Innovative Technology contract was awarded to ivWatch based on recommendations for the ivWatch Model 400 device by providers with expertise in this category who serve on one of Vizient’s member-led councils. Innovative Technology contracts are reserved for technologies that demonstrate an ability to enhance clinical care or patient safety, and those that improve an organization’s care delivery and business model.
Due to the number of products and services being released and marketed as 'innovative,' member hospitals truly value the thorough innovative technology review process in place at Vizient to help them identify products worth further evaluation at their own facilities. After a full review of the ivWatch Model 400, Vizient's member council agreed this solution offers unique and incremental benefits over other products available on the market today, and recommended it for an Innovative Technology contract. We are pleased to award this new contract to ivWatch.
Debbie Archer, Director of Procurement and leader of Vizient's Innovative Technology program for suppliers
The ivWatch Model 400 continuously monitors a patient’s peripheral IV for evidence of infiltrations, which occur when medication or fluid leaks into the surrounding tissue. Intravenous therapy is a routine part of treatment for nearly 80 percent of patients in the U.S., yet more than 20 percent of these IVs may fail because of infiltration, risking both a serious drug delivery error and tissue damage. Earlier detection of those failures, via ivWatch sensor technology, is the new and next step in minimizing this potential for injury.
“The Innovative Technology contract gives Vizient’s diverse membership a simple and more affordable means for adopting continuous IV monitoring and validates the excitement we’ve seen in hospitals across the country about our unique technology,” said Gary Warren, president and CEO of ivWatch, LLC. “IV infiltration is a major problem that can lead to serious medical complications and even amputation. This contract with Vizient is one more step towards our vision of eliminating the harm associated with IV infiltrations.”
“Due to the number of products and services being released and marketed as ‘innovative,’ member hospitals truly value the thorough innovative technology review process in place at Vizient to help them identify products worth further evaluation at their own facilities,” said Debbie Archer, director of procurement and leader of Vizient’s Innovative Technology program for suppliers. “After a full review of the ivWatch Model 400, Vizient’s member council agreed this solution offers unique and incremental benefits over other products available on the market today, and recommended it for an Innovative Technology contract. We are pleased to award this new contract to ivWatch.”
Vizient, Inc. represents the combined strengths of the organizations formerly known as VHA Inc., University HealthSystem Consortium, Novation and MedAssets’ Spend and Clinical Resource Management. Since 2003, nearly 2200 new and innovative products and technologies have been submitted through the Vizient Innovative Technology program. Vizient works with member-led councils and task forces to identify and review potentially innovative products. If it is determined that a product is innovative, a contract may be awarded outside of Vizient’s competitive bid cycle.
###
About ivWatch, LLC
ivWatch is a medical device and biosensor company focused on improving the safety and effectiveness of intravenous (IV) therapy through early detection of infiltrations. The Model 400 provides a first-of-its-kind, FDA-cleared, noninvasive medical device that continuously monitors peripheral IVs for infiltration and extravasation events. The ivWatch Model 400 aims to help eliminate patient harm associated with adverse events and to reduce drug delivery errors. The ivWatch OEM Board integrates ivWatch technology into existing products, enabling OEMs to help healthcare providers deliver a higher level of patient care and to reduce risks related to IV therapy. Follow us on Twitter@ivWatch or Facebook @ivWatchLLC. www.ivWatch.com
MEDIA CONTACT: Leah Moore, leah.moore@ivwatch.com, Office (855) 489-2824 x7031, Mobile (757) 839-5653
The ivWatch OEM Board is not an FDA-cleared device. It is the responsibility of the Original Equipment Manufacturer integrating ivWatch technology to secure the proper regulatory clearance.
Source: ivWatch, LLC
