HOSPITAL IQ SHARES STRONG 2019 MOMENTUM: REVENUE DOUBLES AS MORE THAN 100 HOSPITALS ADOPT ADVANCED OPERATIONS MANAGEMENT PLATFORM
Company Introduces Industry-First AI-Enabled Workforce Management Solution that Applies Advanced Analytics to Help Hospitals Align Staffing to Forecasted Patient Demand
NEWTON, MA, September 11, 2019 — Hospital IQ, the leading provider of predictive hospital operations software, today shared details of its strong momentum in 2019. Company revenue has doubled, as more than 100 hospitals and health systems across the U.S. have adopted the cloud-based Hospital IQ platform to gain the visibility and actionable insights they need to make informed, data-driven operational decisions that improve patient access, clinical outcomes and financial performance.
Hospital IQ also announced the addition of industry experts, Shawn Sefton, MBA, RN, vice president, client operations, and John Zapf, senior director, sales, to support the company’s continued rapid growth. Sefton and Zapf bring a combined 60 years of expertise in the healthcare industry. Prior to joining Hospital IQ, Sefton held many nursing executive positions and most recently served as a director in PricewaterhouseCoopers’ Health Advisory practice. Zapf has held sales leadership positions at TeleTracking, Stereotaxis and Hill-Rom, helping hospitals improve operational performance.
“As our business matures, Hospital IQ has also put more focus on creating a direct relationship with the health systems that license our technology,” commented Rich Krueger, CEO, Hospital IQ. The combination of Hospital IQ’s industry expertise and enhanced technology platform offerings give health systems across the country a new way to run and optimize their operations. As we listen to and work with our customers to build and innovate, we have further developed internal competencies to ensure we can continue to support them as they improve their operational efficiency. Adding Shawn Sefton and John Zapf to the team and continuing to foster our successful relationships with our strategic partners, is the first of many steps in this evolution.”
Hospital IQ Enterprise Product Innovation
New: Workforce solution
Hospital IQ’s Workforce solution is the first in the industry to use advanced AI-enabled analytics and workflows to help staffing managers more accurately align staff to meet forecasted patient demand. It analyzes data from existing workforce management systems to deliver precise recommendations that help managers make better workforce planning decisions for both clinical and non-clinical teams. The result is improved quality of care, increased staff satisfaction, lower turnover rates and reduced labor costs. Hospitals using the Workforce solution have been able to avoid unnecessary overstaffing, saving tens of thousands of dollars in overtime and other expenses for each avoided incident.
The Workforce solution follows the recent expansion of Hospital IQ’s Perioperative solution to include the Surgeon Access module, which identifies OR blocks that have a high likelihood of being unused, creating more available OR time for surgeons and their administrators to easily find and book. As a result, hospitals are able to capture hundreds of hours of wasted OR time per month, resulting in a significant opportunity to improve utilization at times that work for surgeons, patients and surgical staff. Perioperative customers using Hospital IQ reported improvements such as a 13% increase in OR utilization, a 4% increase in surgical volume, and a 7% decrease in labor costs.
“2019 has been Hospital IQ’s best year to date with strong and profitable growth and a significant number of new hospitals and health systems adopting our platform,” said Krueger. “We heard our customers when they asked for expanded functionality. Our new AI-enabled Workforce Management solution and Surgeon Access module have been welcome enhancements to our enterprise platform. We will continue to invest at the same rapid pace that is allowing us to meet our customers’ evolving needs.”
About Hospital IQ
Hospital IQ provides an operations management software platform that gives hospitals and health systems the visibility and actionable insights they need to make informed, data-driven operational decisions that improve patient access, clinical outcomes and financial performance. Our cloud-based software platform combines advanced data analytics, machine learning and simulation technology with an easy-to-use, intuitive user interface to deliver optimized surgical resource alignment, patient flow, and scheduling capabilities. Hundreds of leading hospitals and health systems rely on Hospital IQ to help them make the right operational decisions the first time, every time. To learn more, visit www.hospiq.com