University of Kentucky Healthcare Selects Business Analytics Solutions From Streamline Health® New Five-year Agreement for OpportunityAnyWare® will Provide Actionable Data for Improved Financial Performance and Greater Revenue Protection
ATLANTA, Feb. 5, 2013 /PRNewswire/ -- Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of SaaS-based enterprise content management, business analytics, computer assisted coding (CAC), and clinical documentation improvement (CDI) solutions for healthcare providers, today announced that Kentucky Medical Services Foundation, Inc. and UK HealthCare signed a five-year agreement for the use of the Company's business analytics solution, OpportunityAnyWare, throughout the system.
Kentucky Medical Services Foundation provides billing and administrative services for the more than 700 physicians and other health care providers affiliated with the University of Kentucky's health system, UK HealthCare, which has a total of 719 beds. The health system plans to implement two versions of OpportunityAnyWare, Institutional and Professional, to give them a complete view of the financial information accumulated from all of their facilities. The solution will give the revenue cycle and finance departments immediate access to actionable data that will enable them to make qualified business decisions and help the system protect its revenue.
"After evaluating a number of solutions, we selected the business analytics suite offered by Streamline Health because of its flexibility," stated Ed Erway, Chief Revenue Officer, University of Kentucky Health System. "With access to all of our financial data for both hospital and physician business in one solution, we will gain actionable information that will help us to quickly improve financial outcomes for our organization."
"We are excited that UK Healthcare and Kentucky Medical Services Foundation selected, OpportunityAnyWare for their business analytics solution as it will enable them to gather information from disparate sources in a format that will be easy for the end users to understand and act upon," said Robert E. Watson, president and chief executive officer of Streamline Health. "The solution will help them convert the abundance of data that is being collected into knowledge leading to improved decision making ability and resource allocation."
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.
About Kentucky Medical Services Foundation, Inc and UK HealthCare
Kentucky Medical Services Foundation, Inc. (KMSF) is a 501(c)(3) tax-exempt corporation, which serves in a support organization role for certain functions of the University of Kentucky. KMSF was organized as a nonstock, nonprofit Kentucky corporation in 1978. KMSF manages certain provider billing, accounts receivable, accounts payable and compliance functions, as well as providing other financial and fiduciary functions for the College of Medicine clinical departments and other components of UK HealthCare.
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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.