Columbus, OH Apr 29, 2014 – The Women Presidents’ Organization (WPO) released their seventh annual ranking of the 50 Fastest Growing Women Owned/Led companies in North America and Quantum Health maintained a 26th place ranking for 2014. This marks the third year in a row that the company made the prestigious list.
Founded in Columbus in 1999 with fewer than ten employees, Quantum Health, an award-winning consumer navigation and care coordination company, has grown at a remarkable rate. According to Kara Trott, Quantum Health founder and CEO, company revenue doubled from 2009 to 2011, and increased 30 percent from 2011-2012. The company now employs more than 350 professionals who serve close to 400,000 plan participants at nearly 80 organizations in various industries across the country.
“Our team is very excited to be listed among so many accomplished and talented women entrepreneurs,” said Kara J. Trott, chief executive officer and founder. “To be listed in WPO’s Top 50 for the third straight year demonstrates how Quantum Health continues to break the standard business mold with a simple, powerful and innovative new model for healthcare coordination. It is wonderful to be recognized for our continuous efforts and growth.”
All submitted companies to WPO were ranked according to a sales growth formula that combines percentage and absolute growth. From this list, the 50 Fastest were selected. To be qualified for the ranking, businesses are required to be privately held, woman owned/led companies around the world and must have reached annual revenue of at least $500,000 by year-end 2008.
More about the 2014 WPO Top 50:
– The average revenue grew from $32.6 million in 2009 to $98.8 million in 2013
– Founded the business: 90 percent
– Average age: 48
– Average number of projected 2014 employees: 657
“The companies that made it onto our list this year reflect the continued resourcefulness of women-led businesses,” said Marsha Firestone, Ph.D., president and founder of WPO. “We saw production soaring, with an average revenue growth of 203% from 2009 to 2013. Not only is the financial growth of these companies impressive, it shows that women entrepreneurs are making inroads in non-traditional businesses.”
For a full list of the WPO’s 2014 Top 50 Fastest-Growing Women-Owned/Led Companies, visit: http://www.womenpresidentsorg.com/www.womenpresidentsorg.com/50fastest
Author: Julie Kaloides
Inc. Names Quantum Health to Prestigious Build 100 List
Columbus, OH Apr 23, 2014 – Quantum Health is pleased to announce its inclusion in Inc. magazine’s Build 100 list, a list of 100 organizations that have demonstrated continual success and growth over the past six years despite the challenging economic climate. Rapid and continued growth during a recession is a difficult accomplishment, and one that Quantum Health is proud to have achieved as one of only two companies listed from the state of Ohio.
Founded in Columbus in 1999 with fewer than 10 employees, Quantum Health, an award-winning consumer navigation and care coordination company, has grown at a remarkable rate. According to Kara Trott, Quantum Health founder and CEO, the company now employs more than 350 professionals who serve close to 400,000 plan participants at nearly 80 organizations in various industries across the country.
“The opportunity we saw within the healthcare space was to create a guided path for people who are in the midst of what can be a very scary and overwhelming healthcare journey, one they didn’t choose to embark on,” said Trott. “We created a benefits delivery approach that improves health outcomes, increases consumer satisfaction and at the same time lowers costs for employers and employees.”
Inc. determined the Build 100 list by collecting data on more than 100,000 U.S. mid-market companies (those with 85 to 999 employees). Researchers looked at how many companies added employees every year from 2007 to 2012. According to Inc., remarkably, fewer than 1.5 percent of the companies met that standard. The Build 100 study found that many leaders credited growth in part to their company’s organizational culture, including factors such as how well employees work together, how they interact with customers, and how they collaborate on problem-solving. According to Trott, she purposely created a culture at Quantum Health that extends from inside its walls out to its customers.
“We’ve cultivated a workplace that brings together smart people with big hearts and gives them the freedom, resources and encouragement they need to help our clients. It works. And we work hard to keep our culture thriving,” said Trott.
Quantum Health consistently ranks in national and regional award lists including 50 Fastest-Growing Women-Owned/Led Companies in North America, FORTUNE Best Places to Work and Columbus Business First’s Best Places to Work. In January Quantum Health secured investment support from GE Ventures, the venture capital arm of GE, along with an investment group comprised of industry leaders.
East Liverpool City Hospital Selects GAFFEY Healthcare for Full Business Office Outsourcing Services
Plano, TX Mar 18, 2014 – GAFFEY Healthcare, a leading provider of cloud-based revenue cycle management software & business office outsourcing services, has announced that it has entered into a multi-year agreement to provide full outsourcing services to East Liverpool City Hospital, a short-term acute care facility located in East Liverpool, Ohio.
The outsourcing services will be provided out of GAFFEY Healthcare’s state-of-the-art centralized business office in Plano, Texas. In addition to services, GAFFEY Healthcare will also provide a fully comprehensive business office software suite, including billing & claims management, contract management, automatic claim statusing and their collections & workflow automation tool, AlphaCollector.
“When considering our options for outsourcing, an important factor for us was to find a partner who brought the right combination of people, processes and technology,” said Kyle Johnson, CFO of East Liverpool City Hospital. “From the onset, GAFFEY Healthcare displayed that they could provide both the experienced personnel that we lacked and the technology that was out of our reach. We now have access to both human and technological resources that would otherwise not be available to a hospital of our size.”
“It’s becoming increasingly challenging for healthcare providers to independently navigate complex regulatory changes and remain financially sustainable in today’s atmosphere of economic uncertainty,” added Derek Morkel, CEO of GAFFEY Healthcare. “We’re pleased to have the Hospital as a partner and are confident that we can help lift those burdens and allow them to focus on their mission to provide the community of East Liverpool with the highest level of care.”
Precyse Completes Planned CEO Transition to Chris Powell
Powell Succeeds CEO/Founder Jeffrey Levitt, who Transitions to Executive Chairman
Wayne, PA and Alpharetta, GA Apr 15, 2014 — Precyse, an industry leader in Health Information Management (HIM) Performance Management and Technology, today announced that effective April 1, 2014, Christopher A. Powell, Precyse’s President since May 2011, was promoted to Chief Executive Officer and elected to the Board of Directors, succeeding company founder, Jeffrey S. Levitt, who will assume the role of Executive Chairman of Precyse’s Board of Directors and remain with the company.
“We began this transition process six months ago, as part of our management succession program. We are fortunate to have someone of Chris’ caliber and experience to lead Precyse in its mission to transform clinical documentation in healthcare with solutions that will make caregivers and healthcare provider organizations more efficient and effective in today’s challenging environment,” said Executive Chairman, Jeffrey Levitt. “The board and I are confident in Chris’ ability to expand Precyse’s mindshare and footprint in our target markets.”
“It has been a privilege to work with Jeff and our board over the past three years to help establish Precyse as a nationally recognized leader in our field. Jeff and I have worked side by side to transform the company from a services-based HIM industry leader to an HIM solutions company with a solid foundation for growth and continued innovation. I am honored to carry the torch as Precyse executes its strategic vision to deliver customer and shareholder value,” said Chris Powell, CEO of Precyse. “I am also delighted that the Company will retain Jeff’s industry and business insights as he transitions to his new role of executive chairman.”
Quantum Health taps James Cohill for Vice President of West Coast Sales
Columbus, OH Apr 14, 2014 – Quantum Health, Inc. today announced that it appointed James Cohill to the role of vice president of sales for the west region. Cohill, who brings more than 20 years of experience in employee benefits sales and marketing to Quantum Health, will lead all sales efforts and new revenue pursuits in the western United States.
“James’ work at UMR and his experience with self-funded medical programs will be incredibly helpful in his new role here at Quantum,” said James Stark, executive vice president of sales, Quantum Health. “James’ focus will be new revenue growth, strategic planning, consultative selling and interfacing with decision-makers in the healthcare landscape.”
Cohill will be responsible for building relationships with innovative employee benefits consultants, helping them retain and grow their books of business, as well as growing Quantum Health by identifying and managing potential business opportunities with larger self-funded employers. Cohill will also collaborate with strategic payer and technology partners to build customized solutions to meet the needs of clients.
“With the healthcare industry in a state of change, Quantum Health is in a unique position to benefit greatly from its coordinated care approach,” said Cohill. “The more I worked with the Quantum Health team, the more I came to realize I wanted to be a part of this nimble and innovative company. What Quantum Health is doing to help patients and employers overcome the confusion and costs of today’s healthcare environment will be critical for all self-funded employers in the West.”
Prior to joining Quantum Health, Cohill served as regional vice president for UnitedHealthcare’s UMR, in the western region. Over the course of his career, Cohill has also served in a sales capacity for Fiserv Health, as vice president of sales for Principal Financial Group and as regional sales director for Highmark Life and Casualty Group.
Cohill earned his Bachelor of Fine Arts degree from Drake University and holds a Master of Business Administration degree from the University of Phoenix. Cohill is also committed to community involvement as an executive board member for the Nevada Blind Children’s Foundation, where he also chairs the fundraising committee and the board development committee.
Availity Partners with Precyse and HealthStream for Physician Office ICD-10 Education
One of the nation’s largest health care information networks offers providers comprehensive ICD-10 training
Wayne, PA and Alpharetta, GA Apr 9, 2014 — Availity, one of the nation’s largest health care information networks, has partnered with Precyse/HealthStream to offer its clients a powerful and unique ICD-10 education program for the physician office/ambulatory market. Precyse and HealthStream have teamed together to offer a unique and comprehensive ICD-10 education solution that is delivered exclusively through HealthStream’s workforce development platform. Availity’s physician office/ambulatory facility customers will join the more than 1.2 million learners already using the Precyse University ICD-10 solution powered by HealthStream’s workforce development platform, which includes:
• A single solution for all ICD-10 education needs within a practice or clinic;
• Diversified education providing each impacted population with the specific tools and trainingneeded to be successful in ICD-10;
• Myriad of advanced courseware, applications and tools to make education more practical,accessible and relevant to physicians’ concerns, needs and time constraints; and
• Exclusive access to Precyse University’s expansive, one-of-a-kind ICD-10 education program.
“Now more than ever, it is critical to stay vigilant and continue to focus on training and developing coders, CDI specialists and others who will use the data and convert it into meaningful information,” said Jeff Chester, senior vice president and chief revenue for Availity. “We see Precyse University as a way to ease the training burden on our providers and shorten the learning curve as they move from ICD-9 to ICD-10,” said Chester.
Precyse and HealthStream have partnered to offer a one-stop solution for all of the ICD-10 education needs within physician practices, clinics, and other ambulatory settings. With Precyse’s innovative ICD-10 education programs and HealthStream’s market leading platform for workforce development, healthcare providers have made the ICD-10 solution from Precyse and HealthStream the healthcare industry’s top choice.
“The Precyse University ICD-10 Physician Office Solution is built to fully prepare physicians and all members of their offices and/or clinics for ICD-10,” explains Chris Powell, president of Precyse. “In this challenging time, it is critical to stay vigilant and continue to focus on training and developing physicians and others who will use the data and convert it into meaningful information.”
Unlike its competitors, the Precyse University solution is fully built and tested with more than 200 courses, applications and tools specifically for physicians’ needs. In addition, most courses are mobile-ready for use on a computer, iPad® or mobile device to make education available anywhere and at any time. Innovative tools and resources such as video games, labs, simulators and animations are available as well.
Nationally Recognized Healthcare Executive Joins Precyse Advisory Council
Dr. Donald Bialek to lend valuable insights to leading HIM services and technology company
Wayne, PA and Alpharetta, GA Apr 7, 2014 — Precyse, an industry leader in Health Information Management (HIM) Performance Management and Technology, has announced that Donald Bialek, MD, has joined the Precyse Advisory Council (PAC). Dr. Bialek brings extensive expertise in clinical medicine, senior operating and management roles in many organizations, as well as deep consulting experience. With his industry knowledge and over 25 years of experience, Dr. Bialek is poised to advise Precyse as it works to simplify its clients’ everyday challenges by providing holistic services and technologies that transform clinical data directly into actionable information.
The PAC functions as a source of high-level input and advice on the strategic positioning and expansion of Precyse’s service and technology offerings. The PAC, with its extensive industry experience and network, helps Precyse engage its clients and new opportunities in solving their ever increasingly complex business challenges
“We are excited to welcome Don to our Advisory Council,” said Precyse Board Member Alan Weinstein, who is Chairman of the PAC. “As a seasoned expert in the healthcare field, he has been instrumental in bringing clinical and operational perspective to his work in quality, physician engagement, clinical operations and informatics. We look forward to the valuable insights and perspectives he will bring to Precyse that will enhance peer-to-peer communication and clinical documentation”
Dr. Bialek received his clinical training in pediatrics and anesthesia in the Harvard programs at Boston Children’s Hospital and Massachusetts General Hospital. Later in his career, Dr. Bialek returned to Harvard and added a specialty in medical informatics as a graduate student and Fellow in the combined Harvard-MIT Medical Informatics program. After graduating from this program, he taught at Harvard and worked within its medical institutions as an applied medical informatician.
Dr. Bialek continued his consulting career working as a subject matter expert in the Global Health Solutions practice at CSC, Managing Director at Huron Consulting Group, senior executive physician consultant at Dearborn Advisors, and a Partner at PCD Partners, before being named to his current role as Chief Medical Officer for Galloway Consulting.
Quantum Health Taps William Lahrmann for Executive Role
Columbus, OH Apr 7, 2014 – Quantum Health, Inc. today announced that it has appointed William Lahrmann to the role of vice president of client engagement. Lahrmann, who brings more than 27 years experience in health care, human resources and benefits sales, and consulting to Quantum Health, will fulfill a critical role on the company’s executive leadership team.
“Bill’s track record of success at Marsh and Mercer, along with his deep knowledge of health care benefits and client engagement expertise, is an ideal match for us,” said Kara Trott, founder and chief executive officer of Quantum Health. “Bill’s focus will be on elevating critical client and member experience capabilities as we experience accelerated rates of growth as a company. He will be a terrific partner to our sales and business operation teams.”
Lahrmann will be responsible for driving the company’s client engagement strategy and further elevating Quantum Health’s client-facing capabilities. His national sales expertise will allow him to even more closely align and accelerate the efforts of Quantum Health’s client executives and implementation teams to provide clients and their employees an unparalleled health care experience.
“I am both grateful and eager for this opportunity to take my career focus on employee benefits and apply it at Quantum Health with its coordinated care model,” said Lahrmann. “I believe I am arriving at the right place at the right time, with a tremendous amount of potential in front of us as a team.”
Prior to joining Quantum Health, Lahrmann served as the U.S. sales leader for employee benefits at Marsh. For more than a decade he also served in various regional and national sales leadership roles at Mercer (a Marsh & McLennan Company) specializing in employee benefits.
Mr. Lahrmann earned his Bachelor of Arts in Economics from Miami University, and holds a Master of Science in Industrial Relations and Human Resource Management from Loyola University of Chicago. He is an active contributor to the community through his board involvement with The March of Dimes Columbus, the Heinzerling Memorial Foundation and the STAG Foundation. He resides with his family in Upper Arlington, Ohio.
Carolina Medical Products Now CMP Pharma
Farmville, NC Apr 2, 2014 – Carolina Medical Products, Inc. (CMP) has officially changed its name to CMP Pharma. This new name more appropriately reflects the nature of its current business as a specialty pharmaceutical company focused on niche products that address critical patient needs. The company manufactures and markets leading high-quality branded and generic, prescription and non-prescription drugs to the hospital, long-term care, and retail markets.
Commenting on the name change, Gerald Sakowski, CEO of CMP Pharma said, “We are confident that the new name provides a clearer picture of who we are today and where the business is headed in the future. We will continue to work with the marketplace – physicians, pharmacists and consumers – to develop the dosage forms that best meet their particular needs.” Mr. Sakowski was named CEO of the company in July of 2013. He was formerly Executive Vice President of Commercial Operations at Metrics, Inc. Greenville, NC
CMP Pharma was founded by Henry Smith as Carolina Medical Products (CMP) Company in 1975 while he was a professor of drug manufacturing at the University of North Carolina at Chapel Hill’s School of Pharmacy. In 1982, CMP Pharma’s SPS® Suspension was the first FDA approved suspension form of Sodium Polystyrene Sulfonate for the treatment of hyperkalemia. Prior to the new dosage form approval, Sodium Polystyrene Sulfonate was only available as a powder for suspension. In subsequent years, CMP has developed a range of products, both liquid and semi-solid, that serves markets ranging from hyperkalemia to contact dermatitis to tuberculosis.
Breaking News: ICD-10 Transition Delay
Precyse advises clients to use this time to focus on CDI, training and process improvement
Wayne, PA and Alpharetta, GA Apr 1, 2014 — Yesterday, Congress passed the Sustainable Growth Rate (SGR) Bill that extends the proposed physician rate reduction for one year, but which also includes language that delays the compliance deadline for converting to the ICD-10 system of diagnostic and procedural coding from October 1, 2014, to not before October 1, 2015. President Obama is expected to sign the bill today.
“Like everyone in the industry, Precyse has been closely watching the developments related to the SGR Bill and its effect on the transition to ICD-10. We are disappointed with the vote as our clients have spent considerable time and resources ensuring preparedness for October 1, 2014” said Chris Powell, president of Precyse. “However, this change to the legislation cannot deter us from our goals to improve the overall level of clinical documentation that will in turn improve the quality of the data that will drive the delivery of the best health care in the world.” Consistent with our advice the last time we experienced a delay in ICD-10 implementation, we believe there is still no time to procrastinate. Providers should use this delay to continue staff education efforts, improve their clinical documentation processes and build a strong foundation for process improvement and downstream strategic initiatives embarked upon under the Affordable Care Act.
ICD-10 will provide clinical and financial benefits to help us drive better clarity about the care that is being delivered. It is critical to stay vigilant and continue to focus on training and developing coders, CDI specialists and others who will use the data and convert it into meaningful information. ICD-10 is a measure of quality. Hospitals and physicians aspire to offer world-class care. Precyse will do our part by accurately capturing, organizing and tagging the clinical data that leads to that outcome. Precyse has not stopped preparing for the implementation of the new coding rules and stands ready to support and meet the needs of our nearly 5,000 clients, many of whom already rely on our management, staffing and technology solutions, through our training and implementation process. Because Precyse not only supports, but also operates entire HIM and coding departments for some of our clients, we recommend three key areas of focus throughout the next 18 months.
Documentation
Providers should increase clinical documentation training programs for physicians and other caregivers. This includes developing processes, guidance and support for improved clinical documentation under ICD-9 to be better prepared for ICD-10. Improved documentation skills – even minor changes such as more specificity in notes – create obvious financial and non-financial rewards: fewer claims denials, reduced audit exposure, improved case mix index and improved cash flows. Most importantly, patient care is improved when downstream clinicians can review and rely upon more complete chart notes, and better data is available for analytics and comparative studies. It is essential to target high-volume specialties within each organization most impacted by ICD-10 and train these specialists in proper documentation while training the coding team on the new coding system, then move to the next specialty for training.
Build a Strong Foundation for Process Improvement
Providers should assess the flow of information across its organization and develop a plan to address gaps through process improvement and technology. Invest in automated systems that streamline the entire clinical documentation process. ICD-10 will not be just about retraining medical coders – it is about having better data about patients and their treatments, affording vast opportunities for improvement in data capture and processing. This leads to a more complete and useful set of codes, which is crucial in a fully automated electronic medical record environment. Today, inefficient, labor-intensive workflows abound, whether involving clinical information inputs such as dictation and transcription; approvals, coding, physician queries and other myriad facets involved in billing for services; or abstracting and analyzing quality indicators to improve patient care. We also recognize the promise of new innovations such as automated speech recognition, Computer Assisted Coding using Natural Language Processing (NLP) and clinical decision support tools – but know that realizing their full promise tomorrow requires that we improve how current users interact with and use their systems today. As a member of the healthcare information management/information technology community, we must use our skills to innovate for clinicians. We must develop workflow platforms and applications that allow healthcare providers to do their jobs more efficiently and effectively. We do not want to add more time and complexity to an already challenging process.
Training and Development
Continue to invest in the training of coders, auditors and those who will use the data. Improve the basic skills of your coders and auditors in ICD-9 areas that will also be required in ICD-10. The transition to ICD-10 has pushed healthcare to appropriately invest in training our coders as skilled knowledge workers. As part of our own ICD-10 preparations, Precyse assessed the coding skills of the hundreds of coders and auditors on our staff to evaluate their ICD-10 readiness. Precyse invested in and developed a comprehensive and multifaceted online training program called Precyse University, while developing individual training plans for every coder. This investment has paid off for Precyse clients handsomely, yielding a better case mix index for hospitals, improving coding compliance audit results, increasing coder retention and attracting new coder recruits who are eager to develop and perfect their skills. We recommend that you perform side-by-side dual coding in ICD-9 and ICD-10, assessing the documentation and coding gaps, and target training based on these findings.
At Precyse, our vision is a world in which meaningful information is available, whenever and wherever needed, and helps save time, money and lives. We are an innovation company that listens carefully to our clients and prospects; every day we challenge ourselves to come back to these clients with solutions that ensure a healthy organization to promote a healthy population. We pledge to our clients and prospects that we will never stop innovating in the midst of very challenging times.