In trading on Tuesday, CareView Communications, Inc. (OTCQB: CRVW), an information technology provider to the healthcare industry, gained 54.17 percent to $0.1850. Trading range for CareView stock has been $0.1720 to $0.1850. Recent developments might shed some light on the CRVW stock whose price was on the rise despite a lack of current news.
What’s been going on lately?
Providing digital video monitoring solutions to hospitals and health facilities across the country, CareView is revolutionizing patient safety. Over the last decade, CRVW has relentlessly pursued innovative ways to better protect patients, developing solutions that lower operational costs and enhance safety within the hospital environment. CRVW’s innovative technology installed in over 150 hospitals has shown that patient safety has increased with 80% fewer falls and 65% fewer sitter costs.
In last month’s update, CareView said that new sales-based contracts were fully contracted for the fourth quarter of 2020, bringing the total contract sales price to $1,800,000. Most of CRVW’s contracts include a combination of products, software solutions, and services that can be paid for in various ways.
CRVW’s recently implemented sales-based contract model with auto-renewal has enabled some customers to lease equipment using CareView’s subscription model, while others purchase it up front under the company’s subscription model.
CRVW’s further expectations:
In fiscal year 2021, CRVW anticipates that sales and service-based contracts will be the most common type of new contract. In recent months, CareView (CRVW) has been hearing from an increasing number of VA hospitals about future contracts and anticipates that number to increase throughout 2021.