Boston Medical Center Signs Five-Year Agreement to License Streamline Health Solutions for Its Physician Group Practices Leading Medical Center to Use the Company's OpportunityAnyWare and 835DenialWare Solutions to Aggregate and Analyze Financial Data in 19 Physician Group Practices

CINCINNATI, May 14, 2012 /PRNewswire/ -- Streamline Health Solutions, Inc. (NasdaqCM: STRM), a leading provider of enterprise content management and business analytics solutions for healthcare organizations, today announced that Boston Medical Center (BMC), a 508-bed academic medical center and current Streamline Health client, has signed an additional five-year agreement to license the Company's solutions for use in the network's 19 physician group practices. This agreement extends BMC's use of Streamline Health's business analytics and patient financial services solutions from an agreement signed in May 2011.

Located in Boston´s historic South End neighborhood, BMC is the primary teaching affiliate for Boston University School of Medicine and employs more than 1,200 physicians as well as more than 1,500 nurses. It is the largest safety net hospital in New England. BMC is also a founding partner of Boston HealthNet, a network of 15 community health centers throughout Boston serving more than a quarter million people annually. With an immediate need to consolidate five billing systems, BMC chose Streamline Health's solutions for their ability to handle disparate data to provide enterprise reporting capabilities and analysis, as well as the ability to aggregate data from multiple billing vendors. The center understood how consolidation and payments would be driven over the upcoming years, and knew it needed a solution that could handle both the ambulatory data and the financial data.

"Boston Medical Center includes a vast community of healthcare providers, which requires a flexible business intelligence and analytics software solution that has the ability to aggregate data from multiple vendor systems to optimize revenue cycle performance," said Robert E. Watson, President and Chief Executive Officer of Streamline Health. "Our solutions provide a singular solution that can be used by multiple entities across a healthcare organization to truly understand the entire system's financial performance. By expanding its use of OpportunityAnyWare and 835DenialWare for its ambulatory network, BMC will also have the ability to build a network-wide accounts receivable and denial management program and recover additional net revenue."

"After using OpportunityAnyWare and the 835DenialWare solutions for our business in the medical center, we realized the value on the acute side and wanted to extend that to the ambulatory side," said Andrew Appler, Manager of Revenue Operations and Business Intelligence at Boston Medical Center. "We knew that we didn't want the limitations of static reporting and stand-alone data systems that wouldn't be easily accessible across the system. It was also important for us to work with one technology partner who was receptive to our needs, and could provide flexible, innovative solutions as those needs change. We're looking forward to deploying these solutions further into our system."

About Streamline Health

Streamline Health provides solutions that help hospitals and physician groups improve efficiencies and business processes across the enterprise to enhance and protect revenues. Our enterprise content management solutions transform unstructured data into digital assets that seamlessly integrate with disparate clinical, administrative, and financial information systems. Our business analytics solutions provide real-time access to key performance metrics that enable healthcare organizations to identify and manage opportunities to maximize financial performance. Our integrated workflow systems automate and manage critical business activities to improve organizational accountability to drive both operational and financial performance. Across the revenue cycle, our solutions offer a flexible, customizable way to optimize the clinical and financial performance of any healthcare organization. For more information visit www.streamlinehealth.net.

About Boston Medical Center

Boston Medical Center is a private, not-for-profit, 508-bed, academic medical center that is the primary teaching affiliate of Boston University School of Medicine. Committed to providing high-quality health care to all, the hospital offers a full spectrum of pediatric and adult care services including primary and family medicine and advanced specialty care with an emphasis on community-based care. Boston Medical Center offers specialized care for complex health problems and is a leading research institution.  Boston Medical Center and Boston University School of Medicine are partners in the Boston HealthNet—15 community health centers focused on providing exceptional health care to residents of Boston. For more information, please visit www.bmc.org.

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, 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.

Company Contact:

Investor Contact:

Streamline Health Solutions

BPC Financial Marketing

Erica Ryan

John Baldissera

Director of Marketing Communications       

(800) 368-1217

(513) 794-7100


erica.ryan@streamlinehealth.net


 

SOURCE Streamline Health Solutions, Inc.



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