Top healthcare system migrates to direct 3-year licensing agreement and adds custom Correspondence Workflow
CINCINNATI--(BUSINESS WIRE)-- Streamline Health Solutions, Inc. (Nasdaq: STRM), a market leading provider of document workflow solutions for hospitals, announced today that University of Virginia Health System has extended its licensing agreement and has also contracted for the company’s Correspondence Workflow. The health system is migrating to a direct license with the Company from a license through a Streamline Health strategic partner. Under the terms of the agreement, the healthcare system will license the products for a term of at least 3 years.
Ranking among the nation’s top teaching hospitals, University of Virginia Health System includes a 570-bed Magnet® hospital, level I trauma center, nationally recognized cancer and heart centers and primary and specialty clinics throughout Central Virginia. Under the terms of the new agreement, the health system will continue to license Streamline Health’s accessANYware®, FolderView™, and Financial Screening Workflow, and adds a new custom Correspondence Workflow. This custom workflow will give the system the ability to manage large volumes of mail through the required patient financial services cycles, while keeping an electronic trail of all activity via audit and reporting capabilities. The workflow will also accelerate the billing process by reducing follow-up turnaround time, and improve accounts receivables.
“We are pleased that University of Virginia Health System is renewing their license with Streamline Health as well as expanding the relationship with a new custom workflow for their patient financial services department,” said Robert Watson, president and chief executive officer of Streamline Health. “We appreciate the confidence they have had in our products and services, and the new workflow will increase both accessibility of information for staff and patient satisfaction through timelier correspondence processing.”
“As a long time user of Streamline Health solutions, we have relied on Streamline Health for our document management needs and are excited to migrate to a direct licensing agreement with them,” said Brent McGhee, interim director of patient financial services at University of Virginia Health System. “We are also excited to have Streamline Health work with us to build a custom Correspondence Workflow that will help us move closer to our goal of providing a seamless, enterprise-wide document management system for our staff, and faster, more efficient systems for our patients.”
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 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.
Streamline Health Solutions
Erica Ryan, 513-794-7100
Director of Marketing Communications
KEYWORDS: United States North America Ohio Virginia
INDUSTRY KEYWORDS: Technology Data Management Networks Software Practice Management Health Hospitals