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MedQuist Signs Transcription and Editing Services Agreement with HealthTrust Purchasing Group

 
 

National Agreement Permits MedQuist to Offer Services through its DocQment Enterprise Platform(TM) to over 1,400 Healthcare Organizations

MT. LAUREL, N.J., Oct. 5 -- MedQuist Inc. (Nasdaq: MEDQ), a leading provider of technology-enabled clinical documentation services, today announced that it has been awarded a Transcription Services Agreement by HealthTrust Purchasing Group (HPG), one of the industry's largest group purchasing organizations. As a result of the award, all of the more than 1,400 hospitals and healthcare organizations participating in HPG's network will be able to purchase MedQuist's full array of integrated transcription and speech recognition technology and services. This announcement is being made in connection with the opening of AHIMA in Grapevine, Texas.

The company will utilize its robust DocQment Enterprise Platform with embedded speech recognition and a global workforce to manage the scale and complexity of such a large network of hospitals. MedQuist's suite of solutions provides options to HPG's hospitals, clinics, and physician practices to help them deliver timely quality documentation and accelerate the achievement of clinical and operational excellence goals.

In addition, the contract offers incentives to HPG's integrated delivery networks to aggregate transcription volume among their peer institutions. This combined volume can produce significant financial benefits as well as the operational benefits resulting from standardization.

Peter Masanotti, MedQuist's CEO, stated, "HealthTrust Purchasing Group is one of the leaders in the group purchasing arena, and we are pleased that we have met the rigorous award criteria for participation in HPG's program. This contract further validates the important role that technology-enabled transcription services play in the range of clinical documentation solutions deployed in healthcare organizations today. We look forward to providing significant value to the membership."

About MedQuist

MedQuist is a leading provider of medical transcription services, and a leader in technology-enabled clinical documentation workflow. MedQuist's enterprise solutions - including mobile voice capture devices, speech recognition, Web-based workflow platforms, and global network of medical editors - help healthcare facilities improve patient care, increase physician satisfaction, and lower operational costs. For more information, please visit www.medquist.com.

About HeathTrust Purchasing Group

HealthTrust Purchasing Group is a healthcare group purchasing organization. Established in May 1999, we are committed to superior patient care delivered through national contracts negotiated with market-leading suppliers for clinically recommended products and services at competitive prices.

HealthTrust's membership supports nearly 1,400 not-for-profit and for-profit acute care facilities, as well as ambulatory surgery centers, physician practices, and alternate care sites. With an annual purchasing volume by its members of more than $15 billion, HealthTrust is committed to obtaining the best price for clinically-recommended products, ensuring their timely delivery and continuously evaluating and improving its services to the patients, physicians and clinicians it serves.

"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995: Statements in this press release regarding MedQuist's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Actual outcomes and results may differ materially from what is expressed or forecasted in forward-looking statements. As a result, forward-looking statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE MedQuist Inc.

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