Streamline Health® Announces Strategic Relationship with RSource Arrangement Will Strengthen Revenue Cycle Offerings for Both Companies
ATLANTA, Dec. 12, 2012 /PRNewswire/ -- Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of enterprise content management, business analytics, computer assisted coding (CAC), and clinical documentation improvement (CDI) solutions for healthcare providers, today announced that it has entered into a cross marketing agreement with RSource, a leading provider of receivables management recovery solutions for healthcare providers.
Under the terms of the agreement, RSource may utilize the Streamline Health business analytics solution OpportunityAnyWare™ to facilitate the revenue recovery services it provides to its clients, known as RCover. With OpportunityAnyWare, RSource now has the ability to identify financial opportunity for its clients and the agility to work with any data set and generate fast, sustainable ROI. In addition, the companies can offer each other's services within their respective client bases to help maximize revenue cycle performance.
"We are very pleased to begin working with RSource as they have a strong reputation in the industry for recovering substantial dollars from third party payers for hospitals nationwide," said Robert E. Watson, President and Chief Executive Officer of Streamline Health. "The relationship will help us achieve our ultimate goal, which is to help our clients maximize the results they can achieve using our business analytics solutions."
"This arrangement will allow us to do much more than simply share client relationships and provide complementary technology and service solutions, it enables us to offer RCover, the industry's first comprehensive zero-balance audit and recovery program," stated Lawrence Reid, CEO of RSource. "We are looking forward to a successful partnership."
About Streamline Health
Streamline Health Solutions, Inc. (NASDAQ: STRM) is a leading provider of SaaS-based healthcare information technology (HCIT) solutions for hospitals and physician groups with offices in Atlanta, Cincinnati, and New York. 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). Across the revenue cycle, these solutions offer healthcare enterprises a flexible, customizable way to communicate between disparate departments and information systems to improve processes, boost productivity, and optimize clinical, administrative and financial performance. For more information, please visit our website at http://www.streamlinehealth.net.
RSource is an attorney-led healthcare receivables management company that specializes in the timely resolution of third-party-payer claims for hospitals nationwide. Service lines include Patient Non-Compliance (getting necessary information from patients so insurance claims can be paid), Problem Claims and Denial Recovery, Workers Compensation and MVA/Third Party Liability programs, and RCover. RSource has extensive experience with all payers, including health insurers and managed care companies, workers' compensation and motor vehicle and liability carriers, Medicare, Medicaid, and the Veterans Administration. Problem claims and payer classes can deplete a disproportionate amount of hospital resources and drive up a hospital's Cost to Collect. By referring these challenges to RSource, a hospital can refocus its staff on more current, liquid inventory, improving A/R Days and maximizing reimbursement. RSource has a proven track record, and a reputation for treating payers and patients with respect while aggressively pursuing timely and maximum reimbursement for its hospital clients. For more information visit www.rsource.com.
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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.
SOURCE Streamline Health Solutions, Inc.