Hospital IQ Shares Strong 2019 Momentum: Revenue Doubles as More Than 100 Hospitals Adopt Advanced Operations Management Platform

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NEWTON, Mass., Sept. 11, 2019 (GLOBE NEWSWIRE) -- 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.”

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.” 

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Globe Newswire: 14:00 GMT Wednesday 11th September 2019

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