Arrowsight's Aronson: Remote Video Auditing for Health (Audio)

all designed to improve efficiency. We're gonna he's speaking with Adam Arroon Aaronson. He's the CEO of Aerosite phim. He was a currency trader back in the day at the old CS First Boston. What an interesting journey to where he is now with his company. I'm really excited about this one, really excited about the guy in the news room now, that's Charlie Pellett. He's got a Bloomberg business flash and I thank you, Kathleen, thank you him. We've

got the down SMP lower naz Stack is higher. Stocks fluctuating as investors look past increased stimulus by the Bank of England to tomorrow morning's Jobs report for clues about the strength of the economy, as what was the Fed's next move. Bank of England governor Big News there Mark Kearney unveiling an exceptional package of stimulus, including the bank's first interest rate cut in seven years, as policymakers slash growth forecast by the most ever after Britain's decision to

leave the European Union. And at the news conference this morning, Carney took questions about a number of topics, including the economy post Brexit. Well, look, this is the this is the appropriate response to the economic conditions in which we find ourselves. This is this is a response which will make this process of negotiation transition ultimately Brexit. It's it's going to support it. It's going to make it more likely to be a success, not just in the longer term,

but in the nearer term. It's going to help with adjustment. See World Entertainment shares. They are tumbling almost fourteen percent after the company reported lower theme park attendants in Orlando. It also cut its earnings outlook for the year. Target has resumed selling Amazon's tablets and e readers on its website, plans to bring them back to its stores marking aid de tent between one of the world's largest brick and mortar retailers and its chief online retailer. Target shares are

down two tents of one percent. SMP five hundred index down a point, now dropping point one percent down, Industrials down twenty two A dropped there of point one percent. We've got gold up three ten an ounce the thirteen sixty three, a gain of two tenths of one percent to thirty two on Wall Street. Now, let's take a look at the other stories making news. Thank you Charlie from the Bloomberg News room. I'm Ramy in essen Cio. After a bumpy road, Donald Trump's campaign is trying to

get back on message. Bloomberg's Michael Barr explains, Trump's campaign chairman is playing down a rift between the Republican nominee and how Speaker Paul Ryan. Paul Afford acknowledged there is a conflict within the Trump campaign. Trump's running mate Mike Pence endorsed Ryan a day after Trump declined to do so. And if we talked about Trump and Ryan on a d c S Good Morning America, of course he's gonna work with full Ryan. Of course He's tried to brust

the party together with full ran man Off. It says the campaign has had a rule of not getting involved in primaries. Michael Barr Bloomberg Radio, President Obama is assessing what's working and what is not in the fight against Islamic State. This is the U. S. Military ramps up

its engagement in Libya. After meeting with military and national security advisors at the Pentagon, Mr Obama plans to take questions during a news conference that scheduled for four fifteen pm Wall Street Time, and you can hear that right here on Bloomberg Radio. Police in London say the woman killed in a knife attack was American. Metropolitan Police Assistant Commissioner Mark Rowley says a nineteen year old Norwegian of

Somali origin has been arrested. I emphasize that so far we have found no evidence of radicalization that would suggest that the man in custody is in any way terrorism. Five other people were wounded in that attack, and the grandson of late mob boss John Gotti was arrested today on drug charges in Queens. The two year old was arrested as his grandfather's old Howard Beach home, where he

lives with his father Peter Gotty. More than five hundred oxy Cotown pills and fifty thousand dollars in cash were seized from the home Global News twenty four hours a Dave Howard by more than journalists and analysts in more than one twenty countries. I'm Rainy and Essentio. This is Bloomberg, Charlie, and we thank you and again recapping little change for stocks with the SMP five index down a point. Now to SWO. I'm Charlie Pelleton. That's a Bloomberg business flash.

Now on Bloomberg Radio, we take stock of small business. Small businesses want more streamlining and less red take small businesses, yes and the no. But maybe there's so many people that have ideas and it has to be more than that. It has to be making it real. Bloomberg take stop small business in focus on Bloomberg Radio, super bugs, food recalls, patient safety. What are some of the ways that technology is being employed to deal with these issues that affect

all people and all circumstances. Well, that's why we have Adam Aaronson. He is the chief executive of Arrow Site. They're based in Mount Kisco, New York. He joins us in the studio for more information. Adam, thank you very much for being with us. Thank you for having me tell us a little bit about arrow Site in the context as I described of super bugs and patient safety and the technology that you're using to try to improve outcomes and also make sure that the food that we

eat doesn't make us ill. Great. Well, let me just give you a very kind of pointing example. In the

operating rooms. Uh So, we have partnered with a terrific company called north Wale Health Systems, big chain of hospitals here in the New York area and their outdoor and a seizure provider, North American Partners and Anesthesia, and over the last few years we install cameras in all of the operating rooms in several hospitals and uh basically we're monitoring each and every one of those rooms once every two minutes for a confluence of risk management, patient safety

measures as well as efficiency measures. So basically we are collecting information, providing real time feedback to mobile devices and plasma boards, uh, telling basically staff and managers how they're performing for safety and efficiencies. And these results were recently published in the British Medical Journal, which were just incredible.

So Northwell was able to achieve ninety percent compliance on key safety measures that are around preventing wrong site surgeries, retained foreign bodies, surgical site infections, and at the same time they improve their efficiencies the time between cases by fifteen to So it's been a terrific kind of big step forward in healthcare using this technology. How did you go from treating currencies at c S first bust into

becoming a tech entrepreneur. I know, with this particular you may maybe do some businesses in between, right, this one this had a lot to do with a hospital acquired infection. Both your mother and your sister acquired apparently very bad ones. Just just in a nutshell, How do you get from

here from there to here? Okay? Yeah, So you know, as as I had sort of a career on Wall Street during the nineties, Um, it's sort of hit me, uh, sort of towards the late nineties that, um, you know, virtually no businesses were using video data to improve worker performance the way that sports seems it. And so I said, you know, there's got to be a good business here.

And I was kind of looking to get out of the financial world and into more of an operating career, and the first industry we focused on was really the food manufacturing sector, so the meat industry. And I was home on a holiday. UM back in the early two thousand's, I showed my father up in Boston, who's a physician still practicing today. I showed him some of the work we were doing on reducing UH pathogens and and improving things in food safety arena, and he said, you must

bring this to healthcare. So I said, I will try, and we collaborated and absolutely made no progress in the mid two thousands. I mean we got nowhere. Nobody would even do a pilot free pilots and so um, we kind of put it to the side. I continued to do the work in the food industry. UM, and then within a year, both my mother and my sister had hospital acquired infections and it was like a thunderbolt moment, and so I said, Okay, we're gonna get personal about

this and UH. Instead of trying to go after kind of big health systems and big cities, we started in two thousand and six out in a tiny little surgery center and making Georgia and that was what sort of led the way and opened the doors into Northwell Health, which really pioneered everything that we've done in healthcare since two thousand and eight. Financing, were you able to go I believed to maybe non traditional source of financing at

the very beginning, a family office. Yeah. No, that's that's another UM sort of big lesson learned and something I can share with people that ever, you know, decided to get into these types of businesses if you can come

up with your kind of own investment sources. In this case, were not only had a big family office out of Chicago, but we had a kind of a great network of individual high net worth investors from the food industry and and now many from the healthcare industry, and they open a lot of doors and give you incredible insights on on how to kind of pursue opportunities. So where are you now? What's next? Um? You I imagine you expect to scale this, hope to scale this. Where are you

in your traduction trajectory? Yeah? So the food industry is very mature for us. We provide services today to approximately half of all the UH meat production in the United States. UH from you know, beef to pork to chicken, UH to turkey and Bay. Basically we've had a real eye on the healthcare industry as an emerging market. UM basically on the back of the Affordable Care Act penalty systems

for reimbursements. And this has all to do with a scoring system which basically combines hospital acquired infections and patient satisfaction. So if you're ranking in the lowest quartile of hospitals in the country starting now, UH, they're they're paying two percent penalties on federal reimbursements, which is millions of dollars. So the work that we did in the and the operating rooms is now being extended hospital wide UH to solve the same exact issues, reducing infections in this case

and improving patient flow. Okay, so in a nutshell, you see a very potentially large market here, very large market. Aerosite. Well, good luck at am Arenson. He is the CEO of Aerosite. The founder will look forward to having you back as this all progresses. This is taking stock. This is Bloomberg coming upon taking Stock. If you happen to live in the Northern Mariana Islands and you want to buy a gun, you're gonna have to pay a tax of one thousand

dollars per gun. Could this end up being the law for land that's next