News Release
FOR IMMEDIATE RELEASE
Transactions Highlight Effectiveness of Remote Hosting Solution
CINCINNATI, Ohio May 19, 2005 — LanVision Systems, Inc. (Nasdaq: LANV) d\b\a Streamline Health™ today announced that two of its existing remote application hosting customers have renewed their respective remote hosting services contracts for Streamline Health's comprehensive workflow and document management services. The two remote hosting contracts are valued at approximately $6.3 million in recurring subscription fees over the terms of the agreements.
One three-year renewal agreement calls for Streamline Health to continue to provide its industry-leading Heath Information Management workflow solutions and services to an existing large customer in the Southern region of the United States via its remote hosting service center based in Cincinnati, Ohio. Physicians and clinicians at that prestigious institution will continue to enjoy uninterrupted access to current and historic patient information brought about by the seamless integration of Streamline Health's applications with the institution's existing clinical information system.
The second Streamline Health customer in the Midwest region of the United States renewed its remote hosting services agreement for an additional two years. This institution has been a valued customer of Streamline Health since 1990 and has utilized the remote hosted alternative for workflow and document management services since 1999.
Streamline Health's remote hosting services provide healthcare organizations with an alternative model to purchasing and maintaining in-house enterprise workflow and document management solutions, thereby allowing healthcare organizations to achieve the benefits of these solutions without a large capital and staffing investment. As with in-house systems, however, clinicians and other healthcare professionals (Health Information Management, Patient Financial Services, Human Resources and Supply Chain Management) receive the same secure, fast and trusted access to information from any location.
J. Brian Patsy, president and chief executive officer of Streamline Health, remarked, "We were honored several years ago when both of these prestigious institutions selected our Health Information Management workflow solutions to streamline inefficient document-centric processes within their enterprises. I am pleased to say that these recent contract renewals continue to validate the efficacy provided by our remote application hosting model, and our ability to improve operational efficiencies by automating document-intensive environments. I look forward to many additional years of helping these leading organizations achieve their corporate objectives."
About Streamline Health
Streamline Health is a leading supplier of workflow and document management tools, applications and services that assist strategic business partners, healthcare organizations, and customers to create and improve operational efficiencies through business process re-engineering and automating demanding document-intensive environments. The company's workflow-based services offer solutions to inefficient and labor-intensive healthcare business processes throughout the revenue cycle, such as chart coding, abstracting and completion, remote physician order processing, pre-admission registration scanning and signature capture, insurance verification, secondary billing services, explanation of benefits processing and release of information processing. The company's solutions also address the document workflow needs of the Human Resource and Supply Chain Management departments of the healthcare enterprise. All solutions are available for purchase or through a remote hosting services model that better matches customers' capital or operating budget needs.
Streamline Health's solutions create a permanent document-based repository of historical health information that is complementary and can be seamlessly integrated with existing disparate clinical, financial and administrative information systems, providing convenient electronic access to all forms of patient information from any location, including access using a web-browser through the Intranet/Internet. These integrated systems allow providers and administrators to link systems with documents, which can dramatically improve the availability of patient information while decreasing direct costs associated with document retrieval, work-in-process, chart processing, document retention, and archiving.
Streamline Health provides remote hosting services to various healthcare providers including University Hospital, a member of The Health Alliance of Greater Cincinnati, and Children's Medical Center of Columbus, OH. In addition, the Company has installed its workflow and document management solutions at leading healthcare providers including Stanford Hospital and Clinics, Albert Einstein Healthcare Network, Beth Israel Medical Centers, University of Pittsburgh Medical Center, Medical University Hospital Authority of South Carolina, and Memorial Sloan-Kettering Cancer Center. For additional information, please visit our website at http://www.streamlinehealth.net.
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