The ongoing coronavirus pandemic has been devastating for the vast majority of U.S. businesses. Yet for some companies, the global crisis has turned into a major boon.
Pharmaceutical corporations, teleconferencing companies and video-streaming services are all positioned for growth despite the broader economic landscape. Telehealth providers are likewise seeing a spike in business, with New Jersey-based Health Recovery Solutions (HRS) serving as the perfect example.
Founded in 2012 by CEO Jarrett Bauer and a couple of college friends, HRS has grown into one of the fastest growing telehealth companies operating in the home health care space.
Historically, HRS has promoted its technology as a way for home health providers and other organizations to lower costly hospital readmission. Now, it’s seeing widespread and skyrocketing demand specifically because of the coronavirus.
“It seems like overnight, the walls of hospitals and the U.S. health care system have been broken down,” Bauer told Home Health Care News. “And we’re not going back.”
Among its hardware and software offerings, HRS sells a remote monitoring kit that comes with blood pressure monitors, scales and pulse oximeters. To help health care providers tackle the coronavirus emergency, the company is also offering tech packages tailored to COVID-19.
So far, HRS has sold thousands of COVID-19 kits, according to Bauer. Many have been sent to providers in particularly hard-hit areas, including Washington, New York and California.
Similarly, providers have downloaded HRS software solutions and mobile apps “at a staggering pace,” noted Bauer, who got the idea for his company while pursuing his MBA at Johns Hopkins University and seeing his grandmother suffer through an avoidable hospital readmission related to heart failure.