Vocera Communications, Inc. Releases the Findings of First Humanizing Efficiency in Healthcare Research Study
Nov 3 15
Vocera Communications, Inc. announced that its Experience Innovation Network, focused on thought leadership and research, has released the findings of its first Humanizing Efficiency in Healthcare research study. The study was conducted to identify ways healthcare leaders in the United States and Canada are improving quality and safety and increasing efficiency while also enhancing patient, family and staff experience. More than 100 senior level healthcare executives completed an online survey or participated in one-on-one qualitative interviews to provide insight into their organization's strategic initiatives, emerging best practices and operational infrastructures designed to drive improvement. Survey and interview findings revealed gaps in communication, infrastructure, and stakeholder engagement as many hospitals and health systems still struggle to align quality, safety and experience strategies. When asked to describe their top three measurable goals for improvement work, 59% of study participants cited efficiency goals, 55% cited quality-related goals, and 55% listed patient experience goals. Yet, personnel headcounts show a clear skew to quality and safety, with organizations staffing an average of three times as many quality and safety professionals as those dedicated to patient experience improvement. The study also showed that most organizations are not actively engaging patients and families in experience and process improvement efforts, even though 46% of participants point to a lack of stakeholder engagement as a top reason why improvement initiatives stall or fail. When asked to describe their organization’s adoption of structured, experience-focused improvement methodologies, less than a quarter of respondents said their approach includes specific tools for identifying gaps in experience, communication or the emotional needs of stakeholders.
Vocera Communications, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Revises Earnings Guidance for Fiscal 2015; Provides Earnings Guidance for the Fourth Quarter 2015
Oct 27 15
Vocera Communications, Inc. reported earnings results for the third quarter and nine months ended September 30, 2015. The company reported third quarter GAAP net loss of $4.5 million, or $0.17 loss per share, compared with the prior-year period's $7.9 million, or $0.31 loss per share. Non-GAAP net loss was $1.1 million, or $0.04 loss per share, versus $4.1 million, or $0.16 loss per share in the same quarter the previous year. Revenue was $26.5 million, up from $23.1 million in the same quarter last year. Adjusted LBITDA for the third quarter of 2015 was $0.4 million, versus $3.5 million in the third quarter 2014. Loss from operations was $4,338,000 against $7,757,000 a year ago. Loss before income taxes was $4,348,000 against $7,806,000 a year ago.
For the nine months, the company's total revenue was $75,721,000 against $70,819,000 a year ago. Loss from operations was $13,800,000 against $21,153,000 a year ago. Loss before income taxes was $13,748,000 against $21,063,000 a year ago. Net loss was $14,122,000 against $21,288,000 a year ago. Net loss basic and diluted per share was $0.55,000 against $0.84 a year ago. Non-GAAP net loss was $5,006,000 or $0.19 diluted per share against $11,703,000 or $0.46 diluted per share a year ago. Non-GAAP adjusted LBITDA was $3,041,000 against $10,033,000 a year ago. Year-to-date, operating cash flow has improved to nearly breakeven, compared to a negative $3.9 million in the first 3 quarters of 2014. While cash flow can sometimes fluctuate from one quarter to the next due to changes in working capital, cash flow will generally follow profitability performance in the longer term.
The company now expects fiscal 2015 loss of $0.29 per share - $0.21 per share. GAAP loss per share between $0.77 and $0.69. Non-GAAP adjusted LBITDA to be between $4.9 million and $2.8 million for 2015. The company remains on track to achieve a 4% to 6% year-over-year reduction in OpEx for all of 2015. The company is raising full year 2015 revenue guidance from a range of $97 million to $101 million to a range of $101 million to $103 million. Non-GAAP net loss to be $7.6 million to $5.5 million. GAAP net loss to be $20.0 million to $17.9 million a year ago. Interest expense, net to be $0.4 million $0.4 million. Depreciation expense to be $2.6 million $2.6 million.
Revenue guidance for the fourth quarter 2015 is $25.3 million to $27.3 million. The company expects gross margin percentage to be at or slightly above this level in fourth quarter 2015. Non-GAAP net loss to be $2.6 million to $0.4 million. GAAP net loss to be $5.9 million to $3.7 million a year ago. Adjusted EBITDA to be $1.9 million to $0.3 million. GAAP net loss per share to be $0.22 to $0.14. Non-GAAP net loss per share to be $0.10 to $0.01. Interest expense, net to be $0.1 million $0.1 million. Depreciation expense to be $0.7 million $0.7 million.
Vocera Communications's Two-Way EHR Integration Improves Patient Flow and Staff Satisfaction at Santa Clara Valley Medical Center
Oct 14 15
Vocera Communications announced that Santa Clara Valley Medical Center (SCVMC) has significantly improved care team efficiency, patient flow and staff satisfaction using a two-way integration between Vocera’s hands-free communication technology and the hospital’s electronic health record (EHR) system, Epic. SCVMC management has reported that its environmental services (EVS) team achieved a 50% improvement in bed turnover rates from discharge to the time the room is ready for the next patient. This has resulted in decreased patient wait times in the emergency room and increased patient satisfaction. Faster turnaround times have also positively impacted hospital revenue. This innovative two-way integration leverages Vocera’s powerful voice-recognition and workflow capabilities by allowing housekeeping staff to use voice commands via their Vocera wireless devices to respond to messages from Epic and update the status of room cleaning requests and bed availability in Epic in real-time. This instant information exchange saves steps by reducing the need for staff to manually login and switch between applications or devices. In addition, the integrated systems provide visibility into time-based data for better quality, performance and patient flow management.