Cognitive Medical Systems, a specialist in standards-based clinical decision support software, announced that its 2013 revenues were up fivefold thanks in part to securing eight new contracts last year.
The 2013 revenues exceeded $3 million and covered a range of industries, including U.S. Department of Defense, Veterans Administration and Health and Human Services as well as commercial entities.
"Our ability to transcend different markets is a testament not only to our stellar team, but also the high demand for clinical decision support products that focus on the patient and provider," said Douglas W. Burke, president of Cognitive Medical Systems. "We’ve also tripled the number of employees to 20, are cash-flow positive and profitable; all are significant milestones for a three-year-old company. We’re also well underway in the development of our first commercial product this year. We’re working extremely hard to change the health care system in the U.S. for the better through innovative software solutions, platforms and tools."
Cognitive Medical Systems specializes in clinical decision support; technology that provides information for doctors, nurses and patients at the point of care that is contextually relevant to the care setting and the patient’s entire health care record. The company provides this data in real time to help simplify the complex clinical workflows that define modern health care.
The first product to be developed this year will be based on Cognitive Medical Systems’ mobile clinical quality data capture and analysis tool that it is in use in the Perinatal Quality Collaborative of North Carolina (PQCNC). PQCNC is a quality improvement consortium comprised of 160 neonatal intensive care units across the U.S. Cognitive Medical System’s solution allows doctors and nurses to capture clinical quality data at the point of care using an Android or Apple mobile device. The data is then sent to the company’s clinical decision support platform in the Amazon Web Services cloud that analyzes the data in real-time and provides actionable advice to the clinical care staff at the bedside.
The company’s ultimate goal is to have a range of products that plug into the major electronic health care record systems that will help to increase positive outcomes and decrease costs.