Streamline
Health Solutions, Inc. (NASDAQ: STRM) and Montefiore
Medical Center today announced an exclusive 15-year licensing
agreement enabling Streamline Health to commercialize Montefiore’s
unique clinical analytics platform, successfully in use at Montefiore
since 2002. Through this agreement, Streamline Health will acquire from
Montefiore the existing contract with the Bronx RHIO, a Health
Information Exchange (HIE) that uses the analytics platform to enable
providers throughout the borough to securely query and analyze patient
information. The platform, in conjunction with Bronx RHIO’s HIE
platform, allows healthcare providers to assemble all of the clinical
data available within their system from disparate sources, including lab
results, ambulatory encounters and prior visits, and draw actionable
conclusions on demand to improve patient care and safety.
Montefiore developed the robust clinical analytics platform to
facilitate research and quality improvement efforts within Montefiore
Medical Center and the Albert Einstein College of Medicine. With more
than 400 active users within the health system, the platform has become
an integral part of Montefiore's strategic focus on creating a
data-driven culture to improve the quality of health for the community
it serves and advance medical knowledge through research. The solution
was uniquely designed to enable the construction of patient cohorts,
which empowers clinicians to evaluate groups of patients based on
historical data and compare similar attributes to predict clinical
outcomes and adjust treatment, when necessary.
“We are excited that the clinical analytics platform Montefiore
developed more than a decade ago will be widely available and can
positively impact the quality of care and safety of patients, just as it
has at Montefiore,” said Andrew D. Racine, M.D., Ph.D., senior vice
president and chief medical officer at Montefiore. “The platform has
played a critical role in shaping Montefiore into the successful
accountable care organization it is today – providing new insights and
long-term intelligence to improve the care we provide and outcomes for
our patients. It has empowered clinicians to ask the right questions and
use the platform to establish best practices that will deliver the most
effective, highest quality care – always putting patients’ safety first.”
“We believe clinical analytics can help our clients address a whole list
of clinical challenges, from population management to spiking
readmission rates, that are ultimately going to be critically important
to reimbursement,” said Robert E. Watson, president and chief executive
officer, Streamline Health. “The key differentiator with this solution
is the access to cohort data empowering clinicians to see the group when
one patient is in front of them, allowing them to engage with their
patients more effectively, and fostering significant culture change as
needed.
All of our solutions are designed to act like a looking glass for our
clients, to help them see around the corner, or view a patient with eyes
that see all of the potential outcomes, from admission to treatment to
discharge all the way through billing, collection and audit.”
As healthcare reform takes shape and 21st-century healthcare delivery
matures, physicians and leadership work to stay ahead of the curve.
Current accountable care organization models depend on data to better
align financial incentives with care coordination and clinical outcomes.
This analytics platform supports these efforts and helps practices
become higher performing.
The solution was designed to facilitate clinical research and
continuously drive quality improvement. In the past it has taken months
and years to accumulate data and draw conclusions for research projects,
but those tasks can now be performed in minutes. The solution encourages
provider organizations to tap into the creative and intellectual energy
of their clinicians by placing knowledge at their fingertips through
real-time access to a self-service research platform.
About Montefiore Medical Center
As the University Hospital for Albert Einstein College of Medicine,
Montefiore is a premier academic medical center nationally renowned for
its clinical excellence, scientific discovery and commitment to its
community. Recognized among the top hospitals nationally and regionally
by U.S. News & World Report, Montefiore provides
compassionate, patient- and family-centered care and educates the
healthcare professionals of tomorrow. The Children's Hospital at
Montefiore is consistently named in U.S. News' "America's Best
Children's Hospitals," and is second among those in the New York metro
area. With four hospitals, 1,491 beds and 90,000 annual admissions,
Montefiore is an integrated health system seamlessly linked by advanced
technology. State-of-the-art primary and specialty care is provided
through a network of more than 130 locations across the region,
including the largest school health program in the nation and a home
health program. Montefiore's partnership with Einstein advances clinical
and translational research to accelerate the pace at which new
discoveries become the treatments and therapies that benefit patients.
The medical center derives its inspiration for excellence from its
patients and community, and continues to be on the frontlines of
developing innovative approaches to care. For more information please
visit www.montefiore.org
and www.montekids.org.
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About Streamline Health
Streamline
Health Solutions, Inc. (NASDAQ: STRM) is a leading provider of
SaaS-based healthcare information technology (HCIT) solutions for
healthcare providers. The company's comprehensive suite of solutions
includes: enterprise content management (ECM), business analytics,
integrated workflow systems, clinical documentation improvement (CDI),
and computer assisted coding (CAC). This unique combination of solutions
is designed to help healthcare organizations manage the financial and
operational challenges they face in the ever-changing world of
healthcare today and in the future. For more information, please visit
our website at www.streamlinehealth.net.
Safe Harbor statement under the Private
Securities Litigation Reform Act of 1995
Statements made by Streamline Health Solutions, Inc. that are not
historical facts are forward-looking statements that are subject to
risks and uncertainties and are no guarantee of future performance. The
forward looking statements contained herein are subject to certain
risks, uncertainties and important factors that could cause actual
results to differ materially from those reflected in the forward-looking
statements, included herein. These risks and uncertainties include, but
are not limited to, the timing of contract negotiations and execution of
contracts and the related timing of the revenue recognition related
thereto, the potential cancellation of existing contracts or clients not
completing projects included in the backlog, the impact of competitive
products and pricing, product demand and market acceptance, new product
development, the integration of businesses or other assets acquired by
or licensed to the Company with its existing business, key strategic
alliances with vendors that resell the Company’s products, the ability
of the Company to control costs, availability of products obtained from
third party vendors, the healthcare regulatory environment, potential
changes in legislation, regulation and government funding affecting the
healthcare industry, healthcare information systems budgets,
availability of healthcare information systems trained personnel for
implementation of new systems, as well as maintenance of legacy systems,
fluctuations in operating results, effects of critical accounting
policies and judgments, changes in accounting policies or procedures as
may be required by the Financial Accountings Standards Board or other
similar entities, changes in economic, business and market conditions
impacting the healthcare industry, the markets in which the Company
operates and nationally, and the Company’s ability to maintain
compliance with the terms of its credit facilities, and other risks
detailed from time to time in the Streamline Health Solutions, Inc.
filings with the U. S. Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward looking
statements, which reflect management’s analysis only as of the date
hereof. The Company undertakes no obligation to publicly release the
results of any revision to these forward-looking statements, which may
be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Copyright Business Wire 2013