Medicity
Experiences 81% Revenue Growth in 2008 as the
Healthcare Clinical Data Exchange Market Significantly
Expands
HIT leader adds
51 FTEs to support operational
SALT LAKE CITY –
January 6, 2009 - Medicity, a leading provider
of healthcare information technology (HIT) solutions
for clinical data exchange and collaboration empowering
physicians, hospitals and health information exchanges
(HIE), today announced an 81 percent revenue growth
in 2008. The company continues to expand its leadership
position in the hospital and HIE marketplace, exhibiting
a 76 percent increase in bookings from a variety of
client contracts and reports a 48 percent revenue
backlog increase in 2008 as compared to 2007.
“We attribute this tremendous growth to the
strong support from our clients, as well as the ongoing
efforts of our dedicated team. Medicity is truly a
360-degree community, incorporating feedback from
clients, prospective clients, industry thought leaders
and employees to ensure that our solutions anticipate
market requirements and surpass client expectations,”
said Kipp Lassetter, M.D., CEO of Medicity. “In
particular, our clinician users provide the feedback
that guides our efforts to enhance our value proposition.
In turn, we develop solutions that meet our clients'
evolving needs and those of prospective clients seeking
similar interoperability solutions. Our 360 degree,
collaborative approach enables Medicity to successfully
anticipate market trends and demands.”
To support the past year's significant market expansion
and the anticipated 2009 market demand, Medicity has
increased its workforce by adding 51 FTEs, with a
strong focus on expanding R&D capabilities and
client support. In pursuit of the operational excellence
required to meet the demands of growth, management
restructured the company into cross-functional teams,
adopted and trained its R&D staff on Agile methodology,
announced a new client delivery and support team,
enhanced account management capacity, organized Medicity’s
first annual client user conference, and galvanized
its quality initiative with new staff, tools and automated
testing capabilities.
The company released and deployed several significant
upgrades throughout the year for both its ProAccess
Clinical Application Suite and MediTrust Interoperability
Platform. The upgrades focused on enhancing the physician
experience while streamlining result delivery for
both hospital and community-based settings. Medicity
estimates that over 77,000 physicians and more than
170,000 other clinical and administrative users now
rely on Medicity to achieve anytime, anywhere access
to patient-centered clinical data and to enhance collaboration
in patient care.
Additionally, Medicity successfully delivered its
solution, in partnership with the Delaware Health
Information Network (DHIN), at the 5th National Health
Information Network Forum in mid-December, 2008. This
showcase event highlighted the successful progress
of the National Health Information Network (NHIN)
trial implementations over the past 14 months. Successful
participation in these trial implementations gives
Medicity a foundational role in the NHIN and will
ensure Medicity clients' compatibility with emerging
national standards.
Added Dr. Lassetter, “In this challenging economic
environment, no healthcare organization can afford
to replace or rebuild their complex clinical systems,
even to achieve the crucial goals of clinical data
integration and community-wide clinical information
exchange. This is Medicity's area of expertise: We
leverage our clients' legacy investments in healthcare
IT solutions to build the foundation for deploying
true clinical intraoperability throughout the enterprise,
and interoperability throughout the organizations'
local communities by breaking down the data silos
that exist between information systems across care
locations. Medicity is building the operating system
for interconnected healthcare. As we celebrate our
10th anniversary, we are continuing our commitment
in that regard - physician by physician, hospital
by hospital and community by community - to enhance
patient care quality and reduce the costs of Healthcare
for every American.”
About Medicity
With Medicity, clinicians are empowered
to deliver superior quality, highly efficient and
better-coordinated healthcare through fast and easy
access to, and collaboration with, patient-centric
clinical information acquired from disparate systems
across multiple care locations. By leveraging Medicity
technology, physicians, hospitals and Health Information
Exchanges (HIE) optimize clinical workflow, enhance
patient safety and deliver cost effective, efficient
healthcare to patients and communities. Medicity,
Inc. serves more than 500 healthcare organizations
globally and has been connecting healthcare since
1998. For more information please visit www.medicity.com.
Contact
Amendola
Communications for Medicity
Jodi Amendola, 480-664-8412 ext. 11
jamendola@acmarketingpr.com
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