Kryptiq Realizes Record Revenue, Customer Success in 10th Year

Healthcare IT company celebrated record utilization across 2,800 organizations in 2011

PORTLAND, Ore.--(BUSINESS WIRE)-- Kryptiq Corp. celebrated its 10th year as a leading provider of healthcare IT solutions with a 60 percent growth in revenue, driven by four record-setting quarters. The company has also seen overall growth in product adoption and utilization among customers, deploying more than 30,000 new provider licenses for products such as Secure Messaging, Automated Clinical Messaging, Patient Portal and ePrescribing.

This growth confirms the industry’s move to embrace technology that allows for the activation of healthcare data, especially in the context of meeting Meaningful Use criteria.

As expected, integrated tools that help practices achieve Meaningful Use criteria were particularly popular in 2011:

  • Provider-to-Provider data exchange using Secure Messaging expanded, with customers now sending 10,000 messages a week to other organizations.
  • Secure Messaging is available to even more customers on more systems through Kryptiq's partnership with Surescripts.
  • The Patient Portal customer base increased by 300 percent, allowing even more patients to access their health records and to communicate securely online with their care teams.
  • Online Bill Pay, a product integrated into the Kryptiq Patient Portal, helped customers improve revenue capture and collect nearly $10 million in patient payments.
  • The number of new prescriptions sent electronically in 2011 using Kryptiq’s ePrescribing was more than 2.5 times the number sent in the previous three years combined.
  • Kryptiq launched Automated Clinical Messaging (ACM) which allows healthcare organizations to automate common messaging transactions such as results delivery, distribution of discharge documents, and transferring of patient summaries.

ACM has been especially popular with hospitals and clinics that need immediate and direct access to a patient’s health information to provide accurate and timely care. Two such customers are Northeast Physician Hospital Organization and GreenField Health.

Northeast Physician Hospital Organization (Beverly, MA) is jointly owned by Northeast Health System and New England Community Medical Group. Their organization utilizes ACM to coordinate patient care between the primary care physician’s practice and Northeast Health System. If a patient seeks treatment at a Northeast Health System emergency room or is directly admitted, the hospital HIT system sends a request through Kryptiq’s ACM to the EHR of the patient’s primary care physician. The patient’s chart summary is automatically extracted and returned electronically to the clinical team at the hospital. The hospital team then utilizes the chart summary to ensure all medications and past medical and surgical conditions are factored into the patient’s treatment.

“Automated Clinical Messaging allows multiple computer systems to talk and exchange data. The ability to communicate current patient information allows our clinical teams to have a more complete history on the patient,” said Todd Lowthers, Director of Finance and Healthcare Technology for Northeast PHO. “By coordinating patient care, it’s reducing unnecessary tests and imaging and gives us the opportunity to provide better care for our patients.”

GreenField Health (Portland, OR) is also using ACM to assist in health information exchange. Using ACM to improve key referral workflows, GreenField anticipates reducing nearly 80 percent of the costs associated with referring patients to The Oregon Clinic. The eight-provider organization refers up to 80 percent of its referral patients to The Oregon Clinic, which boasts 120 physicians across 6 different specialty groups in 30 locations across the state.

Using ACM, The Oregon Clinic can automatically request a chart summary from GreenField’s clinical system, including a patient’s medical history list, allergy list, prescription list and advanced directives. This enables The Oregon Clinic to have direct access to the patient’s data without needing to print, fax, or call GreenField for the information.

“The delivery is so simple,” said Greg Fishback, GreenField’s director of IT. “The Oregon Clinic now has immediate access to information that will allow them to offer better care. And we don’t have to manage all of these individual user accounts to allow them that access.”

Looking Ahead

Kryptiq expects to see the record-setting numbers for sales and utilization grow even more in 2012, especially as more practices focus on implementing technology that increases efficiencies, improves care and reduces costs.

“Our growth is being fueled by delivering real value with our solutions,” said Luis Machuca, Kryptiq CEO. “Our customers are recognizing that activating health data is improving all aspects of our care system. Whether empowering patients to take a more active role in their care, or exchanging vital information between physicians, their colleagues, or a pharmacy, we’re inspired by the direction our customers are headed.”

About Kryptiq Corporation

Kryptiq creates software components for physicians and their staff to activate and mobilize health data. Kryptiq’s affordable, pragmatic tools help healthcare organizations increase revenue capture, improve efficiency, and measure and enhance patient services.

More than 40,000 providers use Kryptiq’s software to seamlessly integrate with other HIT systems such as EHR, practice management systems, HIEs and more. Kryptiq’s software includes secure messaging, automated clinical messaging, patient portal, ePrescribing, patient revenue capture and document management. For more information on the company, visit www.kryptiq.com.



CONTACT:

Grady Britton
Lindsay Yale, 503-228-4118
[email protected]

KEYWORDS:   United States  North America  Oregon

INDUSTRY KEYWORDS:   Technology  Software  Practice Management  Health  Hospitals  Other Health  Medical Supplies  General Health  Managed Care

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