Technology can lighten the load on nurses burned out by COVID-19, a deal between Masimo Corp. and the University Hospitals of Cleveland suggests.
The Irvine-based developer of monitoring technologies (Nasdaq: Masi) announced earlier this month that eight of the University Hospitals of Cleveland (UH) have adopted its remote clinician notification system, the Patient SafetyNet, to combat nurse burnout during the pandemic. UH also plans to implement the system at five other sites.
“Hospitals and other healthcare facilities are coming up against resource limitations across the board—from equipment, supplies, and beds to doctors and administrative staff—but the shortage of qualified nurses, due to burnout, may be the most significant challenge of all,” Masimo founder and Chief Executive Joe Kiani said in a statement.
“We hope that more and more institutions, like University Hospitals, will have the opportunity to experience the benefits that Patient SafetyNet can provide for patients and staff alike.”
Patient SafetyNet
Over 80% of hospitals have reported an increase in nurse turnover during the pandemic, costing on average between $37,700 and $58,400 per nurse, according to the American Nurses Credentialing Center.
The Patient SafetyNet is designed to improve workflows and reduce workloads by sending “near real-time” alerts from bedside devices to clinicians, Masimo said.
Within three weeks of implementing the Patient SafetyNet, UH reported that on average, the system shortened the process of obtaining and documenting a patient’s vitals by up to an hour.
A recent study published in the Journal of PeriAnesthesia Nursing also found that the Patient SafetyNet decreased the number of physical assessments, further reducing the workload of nurses.
“We’ve found that Patient SafetyNet’s continuous surveillance monitoring and automation capabilities help lower the burden on nurses and support them in providing quality care for every patient and catching potential patient deterioration before it’s too late,” Chief Nursing Executive of UH Michelle Hereford said.
She added that installation and expansion of the Patient SafetyNet is “frankly a no-brainer.”
Masimo’s Future Growth
Founded in 1989, Masimo specializes in developing noninvasive monitoring technologies, including sensors, patient monitors, and automation devices.
Kiani, who is a political supporter of President Joe Biden, last month was appointed to the President’s Council of Advisors on Science and Technology (PCAST).
“The group I’m announcing represents America and the world’s foremost experts in their fields,” Biden said when announcing the appointment last month.
Masimo’s shares have risen about 35% since June when it hit a 52-week low around $205.10.
The company reported second-quarter revenue rose 1.4% to $305 million. Analysts are expecting revenue to accelerate, growing 6.4% this year to $1.22 billion and another 9.4% next year to $1.3 billion.
The company is scheduled to report third-quarter results on Oct. 26.Â
