EPSi and Quantros Announce Strategic Partnership To Integrate Financial, Clinical Quality, Safety and Facility Operations Data.ST. LOUIS & SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Enterprise Performance Systems, Inc. (EPSi), a leading provider of financial decision support systems and Quantros, a leader in quality, compliance, and safety and risk event workflow management solutions and analytic decision support tools, announced today that they have entered into a strategic partnership agreement to develop innovative new product offerings that merge financial, quality and patient safety data to enable healthcare providers to dramatically improve their decision making and operations oversight capabilities. This will allow clients using solutions from Quantros and EPSi to further maximize returns on their data infrastructure investments. The mission of this partnership is to provide common clients with solutions that merge clinical quality and safety indicators with actual patient level costs, operational productivity information, and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against data to further empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems and enable healthcare providers to improve upon their organization's processes and associated outcomes. The goal is to have the combined data to be integrated and displayed in real-time via executive dashboards, balanced scorecards Balanced Scorecard A performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes. The balanced scorecard attempts to measure and provide feedback to organizations in order to assist in implementing and detailed analytic reporting modules. Unlike traditional healthcare benchmarking systems that compare months old normalized data, this innovative approach will provide healthcare decision makers with immediate feedback regarding their actual performance on process related measures, including clinical and financial outcome measures, patient safety and risk metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM. , clinical resource utilization information, patient level costs - all also stratified stratified /strat·i·fied/ (strat´i-fid) formed or arranged in layers. strat·i·fied adj. Arranged in the form of layers or strata. at the physician or department level. Healthcare providers using these solutions will have access to a new level of key actionable Giving sufficient legal grounds for a lawsuit; giving rise to a Cause of Action. An act, event, or occurrence is said to be actionable when there are legal grounds for basing a lawsuit on it. knowledge to make more timely and effective decisions, improve patient care, monitor the ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). of implemented interventions, and assist in lowering the cost of care. "This partnership represents the next evolution of healthcare decision support and will result in unprecedented value to the industry," said Tim Rutledge, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of EPSi. "The combined products resulting data and analysis will create many new improvement opportunities for our combined client base, which is currently over 25% of the U.S. healthcare U.S. Healthcare is a now-defunct healthcare company. The logo had an apple. The merger with Aetna In 1996, the company merged with Aetna, calling it Aetna U.S. Healthcare. The U.S. Healthcare apple logo was next to the Aetna name, and U.S. Healthcare under it. U.S. market. We feel this approach will allow healthcare organizations to break new ground regarding how they manage daily operations, measure their financial, clinical and operational performance, and create their long range strategic plan." EPSi and Quantros will integrate their software, blinded comparative databases and analytic toolsets to create this new platform for interested clients. The combined solutions will enable current and future clients to leverage both companies existing products and services by adding this new expanded and merged view of their data. The results will be presented with detailed drill down capabilities, enterprise-wide reporting and comparative analysis. One key goal of the effort is to produce a sustainable organizational accountability and measurement system that does not require significant consulting efforts for clients to maintain. Healthcare providers today do not have a true real-time, integrated view of clinical and financial data. Yet it is this data that is crucial to making timely and accurate decisions concerning the future of their organizations," noted Sanjaya Kumar, MD, President and CMO CMO See: Collateralized mortgage obligation CMO See collateralized mortgage obligation (CMO). of Quantros. "The Quantros and EPSi partnership, with our combined industry core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
a new level of accessible intelligence unlike anything else in the market today." Ziegler, a leading healthcare investment banking firm, was instrumental in bringing EPSi and Quantros together in discussing the partnership opportunity. About EPSi EPSi provides its Integrated Performance Improvement suite of web-based, integrated financial decision support applications that automate flexible budgeting, product line budgeting, productivity, cost accounting, financial modeling, contract management, product-line analysis, enterprise-wide reporting and executive dashboard (1) See Mac Dashboard. (2) A software-based control panel for one or more applications, network devices or industrial machines. Dashboards display simulated gauges and dials that look somewhat like an automobile dashboard. presentation. EPSi's software solutions serve over 250 hospitals and health systems based on its advanced design and ability to broadly distribute application functionality, reporting and analytics to end users. EPSi Website: http://www.epsiconnect.com About Quantros Quantros provides real-time knowledge creation solutions for benchmarking, patient safety, accreditation and compliance, and outcomes monitoring for leading healthcare providers, payers, and pharmaceutical manufacturers. Quantros' web delivered applications provide a standard platform for automating resource intensive manual processes. Through a variety of direct sales and vendor partners, more than 1,400 hospitals are licensed to use Quantros' web-based technology solutions. Quantros team members include physicians, nurses and healthcare professionals. We are a healthcare information management technology company with a difference; our key product decisions are driven by experts in healthcare quality and performance improvement, safety, compliance, risk management and nursing. Quantros website: http://www.quantros.com |
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