Tag: Precyse

Health Information Management Leader Poised to Implement Next Phase of Growth
Wayne, PA Jul 1, 2015 – Precyse, a leader in health information management (HIM) technology, services and education, announced today that, as part of its long term growth plan, the company has entered into an agreement to be acquired by investment firm Pamplona Capital Management (Pamplona). Precyse’s board and their current outside private equity investors, Altaris Capital Partners and NewSpring Capital, have approved this corporate transaction.
Precyse, founded in 1999, has assisted nearly 5,000 healthcare facilities and systems across the United States to improve efficiency and deliver tangible outcomes. The company delivers a robust combination of experienced, highly trained people; premier technology solutions; and industryleading education, targeted at all clinical and financial aspects of Health Information Management. Collectively, this equips healthcare organizations to achieve enhanced, sustainable operational performance.
“We are delighted to be partnering with Pamplona at this exciting time in Precyse’s evolution,” said Precyse CEO, Chris Powell. “Precyse offers a wide range of services, education and technology solutions to help healthcare organizations thrive. Pamplona will help us meet our long term growth objectives as we continue to build out our current successful model and expand our offerings in the future to help healthcare organizations reach new levels of operational success.”
Dr. Jeremy Gelber, Pamplona Capital Management partner and leader of the investment, is equally thrilled about the transaction, “Precyse has established itself as a leader in Health Information Management with the ability to fully outsource HIM departments, provide services or technology on an as-needed basis, and supply educational tools to help hospitals achieve better outcomes. We and Precyse have a shared vision in expanding the business beyond the company’s traditional offerings into other areas that positively impact providers’ clinical and financial outcomes, both in Health Information Management and beyond.”
Adds Powell, “I am excited to have the financial resources and talent that Pamplona brings to Precyse which enables us to continue to deliver on our commitments to our clients and allows us to bring new and valuable solutions to our market as we evolve in today’s dynamic healthcare environment. I am proud of our people who have demonstrated their unwavering dedication and hard work to put Precyse in this fortunate position of our corporate evolution and grateful to Altaris Capital Partners and NewSpring Capital for their support throughout this process. Our commitment to our clients remains our number one priority.”

A new service to strengthen the critical link between clinical and financial operations
London?New York Jun 30, 2015 – Pamplona Capital Management (“Pamplona”) is pleased to announce that it has signed an agreement to acquire Precyse, a leader in Health Information Management services, education and technology, from Altaris Capital Partners and NewSpring Capital. Precyse’s industry-leading expertise and technologies empower healthcare organizations to most effectively capture, organize, secure and analyze clinical data to improve financial performance and the quality of care delivered.
Precyse, founded in 1999, has enabled nearly 5,000 healthcare facilities and systems across the United States to improve efficiency and deliver tangible outcomes. The company delivers a robust combination of experienced, highly trained people; premier technology solutions; and industry-leading education, targeted at all clinical and financial aspects of Health Information Management. Collectively, this equips healthcare organizations to achieve enhanced, sustainable operational performance.
“We are delighted to be partnering with Pamplona Capital at this exciting time in Precyse’s evolution,” said Precyse CEO, Chris Powell. “Precyse has a wide range of services, education and technology solutions that enable us to help healthcare organizations thrive. Pamplona will help us meet our growth objectives as we continue to build on our successful solutions today and expand our offerings in the future to help healthcare organizations reach new levels of operational success.”
“Precyse has established itself as a leader in Health Information Management with the ability to fully outsource HIM departments, provide services or technology on an as-needed basis, and supply education tools to help hospitals achieve better outcomes,” said Pamplona Capital partner, Dr. Jeremy Gelber, who is leading the investment. “We and Precyse have a shared vision in expanding the business beyond the company’s traditional offerings into other areas that positively impact providers’ clinical and financial outcomes, both in Health Information Management and beyond.”
In addition to Precyse, Pamplona’s healthcare investment portfolio currently includes Spreemo, a company that is bringing cost transparency and quality metrics to the workers compensation specialty benefits management industry with an initial focus on radiology; Intralign, which helps hospital and surgeons achieve a rep-less, optimized surgical episode by combining assessment with clinical support and operational tools; Magnacare, a leading healthcare administrative services company focused on self-insured employers and workers comp plans in the New York and New Jersey regions; and Privia Health, a physician practice management and population health technology company.
Earlier this month, Pamplona sold the majority of its controlling stake in Alvogen, a high growth generic drugs company, to a consortium of investors.

Enterprise HIM technology, services, and education leader to present best practice strategies that transform patient care and financial performance.
Orlando, FL June 22, 2015 – Precyse, the industry leader in Health Information Management (HIM) performance solutions, invites HFMA ANI show attendees to visit booth #225 at the Orange County
Convention Center and see how its technology and services can help organizations unlock revenue and resources within their facilities. HFMA ANI attendees are invited to attend Precyse’s educational
sessions that help bridge the gap between financial and clinical processes.
On Monday, June 22, from 8 a.m. to 12 p.m. in room PCW2 at the Orange County Convention Center Terry Allison Rappuhn, CPA SC Regional Health System LLC, HFMA Patient Friendly Billing Project
Leader, George A. Semko, CHFP, Augusta Health, Revenue Cycle Administrative Director, and Sandy Wood, NCH Healthcare System, Revenue Cycle Director, and Denise Johnson, RHIA, MS, CPHQ, VP,
HIM Integrated Services, Precyse, will present “Using HIM to Improve Patient Care and Financial Performance”. During this workshop, industry experts will show the value of the health information
management (HIM) function and its impact on both patient care and financial performance.

A new service to strengthen the critical link between clinical and financial operations
Wayne, PA Apr 22, 2015 – Precyse, the industry leader in Health Information Management (HIM) performance solutions, announces today the launch of their new consulting services for case management and utilization review (CM/UR). Case Managers and Utilization Review staff can impact quality of care, timely and
appropriate reimbursement, and patient satisfaction – all necessary focus areas for sustainability in the new era of healthcare. Precyse consultants offer CM/UR expertise to revitalize CM/UR programs, and can help provide solutions to help solve some of today’s most challenging issues.
“Case management and utilization review function as a critical link between a healthcare provider’s clinical and financial operations,” said Marion Kruse, RN, MBA, Sr. Managing Director Clinical Services at Precyse. “We are well positioned to provide the best service in the industry because of our well-rounded, seasoned consultants that not only possess expertise in CM/UR, but have experience in other areas, including clinical documentation improvement, coding, and other revenue cycle functions.”
The benefits of CM/UR Consulting Services include:
• Integrating financial and clinical operations for the new era of revenue cycle challenges
• Thriving in a Value-based Purchasing world – improve 30-day Readmission and Medicare Cost per Beneficiary
• Driving down average length of stay
• Reducing cost per case
• Lowering denials related to avoidable days
Precyse’s CM/UR Consulting Service provides a three phase approach including an independent assessment, program redesign and implementation, and on-going performance monitoring of healthcare facilities’ CM/UR program. The offering also includes on-site education provided by practicing physicians and case management experts.

The industry’s only technology platform specifically designed to integrate all functions of health information management
Wayne, PA Apr 13, 2015 — Precyse expands its footprint as healthcare providers increasingly embrace the vision of a single, integrated platform to support all aspects of health information management on an enterprise-wide basis. The Precyse platform leverages knowledge gained in delivering stellar health information management services over the past 15 years to a vast array of healthcare organizations. The platform is used today to automate clinical documentation improvement (CDI) and medical coding workflows via a single shared infrastructure. This shared infrastructure, coupled with state-of-the-art natural language processing (NLP) and enhanced cross-role communication, enables providers to optimize reimbursement, reduce audit risks, and improve quality while lowering the total cost of ownership.
The number of client go lives for the Precyse platform has doubled in the last 6 months as providers understand what is required to prepare for risk sharing and quality-based arrangements. The Precyse technology has continued to evolve to support these requirements – providers and the new healthcare landscape require more than just standalone CAC or CDI specific to inpatient or outpatient workflows, and the Precyse platform has gained in breadth and depth. Customers who were early implementers of technology are reinforcing their commitment to the single integrated approach to help break down silos and open communication among physicians, CDI specialists, coders, auditors and others.
One early adopter, Holyoke Medical Center, is delighted with the latest release from Precyse. Per Laura Piquette, Director of Health Information Management/Privacy Officer “we are experiencing vastly improved throughput and productivity with this latest release and the enhanced integration with the Meditech EMR is invaluable to our coders. In addition, the common infrastructure optimizes our coding and documentation integrity through enhanced coder to CDIS communication. The Precyse implementation team and support teams assigned to Holyoke Medical Center are wonderful to work with.”
The Precyse combined offering of CDI technology and clinical documentation improvement services also continues to see tremendous market momentum, separate from the ICD-10 transition, as clients recognize that improving clinical documentation is foundational to many of their initiatives to improve the quality and reduce the cost of healthcare.
Debra Stenner, Precyse Chief Technology and Strategy Officer, states, “With expanded use of our technology, our customers are not only reaping the benefits of more appropriate reimbursement and better public quality reporting, but many are now looking at ways to rethink their documentation and coding staff’s roles and antiquated workflows to provide even greater efficiency and return on investment.”

Industry leader in healthcare learning solutions offers new affordable, convenient on-demand education alternative.
Wayne, PA Mar 2, 2015 — Precyse, industry leader in Healthcare Information Management solutions and education, announced today the rollout of its new Precyse University™ Webinars On Demand solution ─ an on-line education website that provides dynamic healthcare educational content in live and on-demand webinar formats. This service complements Precyse’s industry leading Precyse University eLearning service that supports more than 1.8 million learners. Precyse University™ Webinars on Demand leverages the knowledge of credentialed healthcare industry experts, including physicians and clinicians, to provide critical knowledge and leading practices focused on topical subjects affecting healthcare today.
Precyse University™ Webinars On Demand offers affordability, quality and convenience, and fills staff knowledge gaps to help achieve goals and initiatives including:
• Clinical Documentation Improvement
• Revenue Cycle
• Preparedness for industry changes and trends
• ICD-9/ICD-10-CM/PCS Coding and Billing
• Current Procedural Terminology (CPT)
• Evaluation and Management (E/M)
• Anatomy and Physiology
• Pathophysiology and Pharmacology
“Similar webinars from other sources can cost significantly more and are very restrictive,” explains Tom Ormondroyd, Vice President and General Manager of Precyse Learning Solutions. “Our Webinars On Demand offers high quality, economic webinars. It helps healthcare facilities maximize their reimbursements, lower financial risk, and optimize staff competencies.”
Webinars are continually added, based on industry trends and learner feedback. The webinars, which are accessible at the convenience of the learner, are mobile enabled; webinars can be viewed on smartphones and tablets. The high quality presentations, which stream at up to 1080p resolution, can be viewed in segments with no limit to how many times webinars can be viewed and offers recommendations on other available webinars based on viewing interests. Some webinars offer Continuing Education Units, as well.

Company continues to achieve scores well above industry average
Wayne, PA Feb 19, 2015 — Precyse, the industry leader in Health Information Management (HIM) performance solutions, has been named Best in KLAS for Transcription Services in the recent report titled “2014 Best in KLAS: Software & Services.” Precyse achieved top rankings, receiving very high marks in all three categories; Sales and Contracting, Implementation and Training, Service and Support, and General, all with scores over 90.
“During this past year, the entire KLAS team worked diligently to gather insights regarding vendor performance and the advancement of healthcare, which ultimately make a difference in the lives of the patients.” said Adam Gale, president of KLAS Research.
Accurate clinical documentation is critical to the success of a healthcare facility. Without accurate clinical documentation it is impossible to achieve Core Measures, transition to ICD-10 or mine clinical data for actionable information. Precyse’s combination of technology, processes and services accelerates turnaround time, reduces costs, minimizes capital outlay and transforms dictation into meaningful clinical information for ultimate patient care while achieving financial goals.
“I am so proud of our Precyse colleagues who believe in our mission and work every day to make this Best in KLAS recognition possible,” said Chris Powell, CEO of Precyse. “This award is made even more special because it is based solely on our clients’ feedback. This award designation does not just happen. It takes commitment, hard work and a relentless focus on continuously improving. I am thrilled to see Precyse honored as Best in KLAS for Transcription Services this year, not to mention the year-over-year consistency of our ranking.”
In the Services Comparison Report, Precyse Transcription Services available on the KLAS website, the Chief Financial Officer of one Precyse customer stated, “Precyse has always managed to meet my personal expectations. That means they are exceeding the expectations that our HIM Director and department have for them. I like to think of myself as a more demanding person, but Precyse has been able to keep me happy.”
In the same report another Precyse customer stated, “We are very pleased with Precyse’s responsiveness. I have liked working with them, despite the fact that they have grown quite a bit since we first started with them. They don’t act as though they are too big for me to pick up the phone and very quickly get somebody from the top to talk to me and help me out. I have never had to escalate any questions thus far, but it is good to know that Precyse still has that support and service we would expect from a smaller, more down-to-earth company.”

Solution enables healthcare organizations to pinpoint performance gaps for coding, documentation and other revenue cycle functions
WAYNE, PAL Feb 16, 2015 — Precyse Learning Solutions, creator of Precyse University, the most innovative, widely adopted on-site, online and mobile ICD-10 education solution with more than 1.6 million learners and HealthStream (NASDAQ: HSTM), a leading workforce development company for healthcare organizations, announced today the launch of Precyse University DNA,™ the next generation of healthcare performance optimization and education. Revenue-cycle leaders in healthcare organizations who are charged with ensuring proficiency in their coding and clinical documentation workforce, including transition to ICD 10 coding system, can now achieve their goals more effectively and cost-efficiently with this innovative, new approach.
Optimized reimbursement through improved coding accuracy, clinical documentation and other revenue cycle functions is an important goal for healthcare organizations—and Precyse University DNA can make a significant difference. Precyse University DNA offers hundreds of targeted mobile-ready courses, webinars, simulation labs, assessments, preemployment tests, and an online community for Precyse University DNA learners to communicate with peers.
Precyse University DNA customer, Thea Campbell, MBA, RHIA, Director of Health Information at Cedars-Sinai Medical Center commented, “Our industry can no longer rely on audits and performance analysis from months before; we must start analyzing our teams and capabilities on an ongoing basis, and proactively mitigate any deficiencies and risks before they become larger problems.”
Precyse University DNA is the first product that includes a Control Center™ application from HealthStream. The Control Center provides revenue-cycle management the ability to analyze a detailed profile of workforce coding and documentation knowledge and skills, and compare them to national benchmarks. The Control Center gives management the tools to better identify risks, target areas for improvement, and to execute a more effective, data-driven initiative.
“We are excited to bring cutting edge coding education to the healthcare industry,” said Tom Ormondroyd, Vice President and General Manager, Precyse Learning Solutions.
“Precyse University DNA is a comprehensive, all-in-one revenue cycle performance optimization and education solution. Using a revolutionary approach, it provides revenue cycle leaders with powerful capabilities to identify weaknesses and opportunities to optimize documentation, coding, and processes to allow organizations to proactively resolve them before they hit the bottom line.”

Employers to create 557 new full-time jobs over five years
Montpelier, VT Jan 5, 2015 — The Vermont Economic Progress Council (VEPC) authorized incentives totaling $3.8 million under the Vermont Employment Growth Incentive (VEGI) program, which will encourage the creation of 557 new, well-paying jobs for Vermonters, with an average compensation of $50,385.
2014 VEGI INCENTIVE AUTHORIZATIONS
Vermont Packinghouse, LLC Springfield $233,252
Twincraft, Inc. Winooski $532,584
G.S. Blodgett Corporation Essex $754,104
Cabot Hosiery Mills, Inc. Northfield $1,505,192
Flex-A-Seal, Inc. Essex $188,858
National Hanger Company Bennington $227,668
Precyse Solutions, LLC Statewide $349,742
Total: $3,791,400
These projects will also create about $21.4 million in new full-time payroll for Vermonters, and the companies plan to invest $37.7 million in qualifying capital investments in Vermont between 2014 and 2019.
“The VEGI program continues to encourage the creation of good paying jobs and investment in Vermont that otherwise would not occur, generating new revenue to the state to support other programs,” said Patricia Moulton, Vermont’s Secretary of Commerce and Community Development. “It is exciting to see this much investment activity by Vermont businesses.” Three of the companies received final authorization of incentives for projects that started in 2014 and will continue through 2018. These included the establishment of a slaughterhouse in Springfield by Vermont Packinghouse, LLC to service Vermont’s diversifying agricultural market, the expansion of Twincraft into the liquid soap market, and the expansion of Blodgett Ovens to accommodate the acquisition of the Market Forge Brand.
Four of the companies received initial approval of projects that start in 2015. These included an expansion of Cabot Hosiery Mills in Northfield to accommodate growth of the Darn Tough Vermont brand, expansion of Flex-A-Seal in Essex Junction and National Hanger Company in
North Bennington, and the introduction of work-at-home medical coding jobs statewide by Precyse.
“Our team is excited to partner with the State of Vermont and Vermont HITEC on this initiative to bring living-wage jobs to Vermonters,” said Chris Powell, CEO, Precyse. “This partnership will help us to enhance our medical coding services for the healthcare industry while providing
Vermont residents exciting and rewarding careers.”
“The VEGI incentive will assist us in establishing a Retail Division for small and mid-level retailers,” stated Michele Pilcher, President of National Hanger Company. “Our goal of being “The Retail Source” can now be achieved in North Bennington, site of our current operations.
We are so happy to be able to spend all our focus on expansion here in Vermont, rather than having to relocate.”
The Council approved the applications after reviewing nine program guidelines and applying a rigorous cost-benefit analysis that calculates the level of new tax revenue a project will generate for the state. The Council also determined that these projects would not occur or would occur in
a significantly different and less desirable manner (the “but for” test) if not for the incentives being authorized. Therefore, the projects generate new state tax revenues that would not have been realized. Those revenues pay the incentives and will generate $1.943 million in net new tax
revenue, even after payment of the incentives.
To earn the incentives, authorized companies must meet payroll, employment and capital investment performance requirements each year. Only if the Tax Department determines that the performance requirements are met and maintained, the incentive earned pays out to the
company in five annual installments.

Chicago, IL Dec 15, 2014 — The Healthcare Financial Management Association (HFMA) announced that Precyse, industry leader in Health Information Management (HIM) performance solutions, continues to achieve the “Peer Reviewed by HFMA®” standard for its HIM Technology & Services Suite.
The Precyse HIM Technology & Services Suite includes:

• Transcription – a combination of transcription technology, processes, and services that accelerate turnaround time, reduce cost, minimize capital outlay, and transform dictation into meaningful clinical information.

• Clinical Documentation Improvement (CDI) Services and precyseCDI™ – evaluate the physician’s current clinical documentation practices, identify inefficiencies, and offer strategies for improved clinical documentation. Additional CDI technology solution helps track and maintain documentation accuracy and efficiency.

• Coding – a convenient and timely solution that delivers accurate and quality results for your coding needs, whether onsite or remote.

• Coding Audit & Compliance Services – help identify risk areas, offer specific audit improvements, and education for operational enhancements and compliance requirements.

• PrecyseCode™ Computer Assisted Coding (CAC) – an integrated platform that supports multiple HIM roles across an organization driven by natural language processing (NLP) for embedded intelligence, supporting inpatient and outpatient coding needs.

• Precyse University – with more than 1.6 million learners, this on-site, online, and mobile healthcare education solution is designed to prepare all healthcare populations for the transition to ICD-10.

• HIM Strategic Sourcing – a solution combining technology and services that help hospitals or physician practices optimize their effectiveness, and advance their capabilities and functions to successfully operate under a more challenging reimbursement environment.

• HIM Interim Management & Consulting – a professional HIM department director or manager takes responsibility for every challenge including monitoring, measuring, and reporting on key metrics critical to success.

• Cancer Registry & Oncology Data Management – includes backlog abstracting and operational assessments, interim management, consulting, software selection, and American College of Surgeons pre-survey assessment.

“We are very proud to continue our HFMA Peer Review designation,” said Precyse CEO Chris Powell. “We value the positive feedback from our clients. This recognition is a testimony to Precyse’s ongoing commitment to excellence, and the exceptional and consistent quality of technology and services provided to our clients.”
HFMA’s Peer Review process provides healthcare financial managers with an objective, third-party evaluation of products and services used in the healthcare workplace. The rigorous, 11-step process includes a Peer Review panel review comprised of current customers, prospects who have not made a purchase, and industry experts. The Peer Review status of the product or service and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.
“We’re pleased to have Precyse renew their HFMA Peer Reviewed designation,” says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. “The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed product or service meets an objective third-party assessment of overall effectiveness, quality, and value.”