CINCINNATI, Dec. 2, 2010 /PRNewswire-FirstCall/ -- Streamline Health Solutions, Inc. (Nasdaq: STRM) a leading provider of document workflow solutions for hospitals, today announced that a leading Midwest-based medical institution will implement five additional Streamline Health workflow solutions licenses to help optimize business processes across the enterprise and improve operational efficiencies. Streamline Health expects all of the workflow solutions to be fully implemented and operational early in 2011. In addition, the hospital will utilize Streamline Health's remote hosting center to facilitate the ongoing management of current document workflow solutions and implementation of the new workflow solutions. The contract is valued at approximately $385,000.
The multi-hospital network currently utilizes Streamline Health's Health Information Management Suite of products and is looking to implement modernized Streamline Health Workflows to improve Patient Financial Services operating efficiencies. The multi-hospital institution will utilize Streamline Health's solutions to provide document image capture and indexing, distribution of correspondence, and management of the financial aid application process.
"We expect the expansion of Streamline Health's document workflow solutions will be essential in driving higher levels of productivity and accountability for increased efficiencies within this customer's organization," said J. Brian Patsy, president and chief executive officer of Streamline Health.
"Streamline Health's business process workflows will provide the patient financial services department with state-of-the-art technology to better manage document intensive processes with a substantial return on investment. We are excited with the expansion of our commitment to this valued customer and we look forward to a mutually long-term relationship."
Mr. Patsy continued, "We are pleased with the increasing acceptance that our workflow solutions are experiencing in our core hospital market. The leading-edge capabilities of our suite of products permit hospitals to not only deliver quality healthcare and patient outcomes, but dramatically improves their ability to manage their cash flow in a way that assures the critical services that they provide to their communities will continue for years to come."
About Streamline Health
Streamline Health is a leading supplier of document workflow and document management tools, applications and services that assist strategic business partners and healthcare organizations to improve operational efficiencies through business process optimization. The Company provides integrated tools and technologies for automating document-intensive environments, including document workflow, document management, e-forms, connectivity, optical character recognition (OCR) and business process integration.
Streamline Health's solutions create a permanent document-based repository of historical health information that is complementary and can be seamlessly integrated with existing disparate clinical, financial and administrative information systems, providing convenient electronic access to all forms of patient information from any location, including secure web-based access. For additional information, please visit our website at http://www.streamlinehealth.net.
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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.