PITTSBURGH, March 4, 2013 /PRNewswire/ -- Privately-held TeleTracking Technologies, market leader in patient flow automation solutions for hospitals and health systems, today announced a 42 percent increase in booked revenue in the 2012 fiscal year. This annual jump in sales is the largest in the company's 22-year history and was achieved in collaboration with hospital leaders' focus on Electronic Medical Record (EMR) implementation over the same period.
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TeleTracking President Michael Gallup said the record growth was related to the Affordable Care Act's emphasis on improving efficiency and reducing cost while increasing patient access and improving patient outcomes. TeleTracking solutions help hospitals deliver on these goals through better management of hospital capacity and resources and associated improvements in care delivery and patient safety.
"We believe our growth is an acknowledgement by the market that operational efficiency is key to delivering quality care in a cost-effective way," said Gallup. "Our capacity management solutions allow hospital leaders to recapture wasted time and resources and convert them into savings and revenue." Gallup estimates that hospital operations automation, such as the solutions TeleTracking creates, can directly impact a significant portion of the $750 billion wasted every year in healthcare, according to the recent Institute of Medicine (IOM) report, Best Care at Lower Cost.
TeleTracking added relationships with over 65 new clients in 2012, implementing or expanding applications such as Capacity Management Suite, Real-Time Locating System (RTLS), TransferCenter and Orchestrate Procedural Patient Throughput.
"These implementations have given us the opportunity to collaborate with the leading EMR vendors and many others to provide our clients with seamlessly integrated clinical/operational platforms," Gallup said. "We're excited to take part in these collaborations, because this gives us great hope for true interoperability in healthcare, which is what more and more clients require."
For the sixth time in the past seven years, TeleTracking capped the year with recognition as patient flow Category Leader in the annual KLAS Research customer survey. The survey measures client satisfaction in a number of areas, including product performance and client service, by independently monitoring vendor performance through thousands of participating healthcare organizations. Noting the company has a client retention rate of 96%, Gallup said the KLAS recognition reflects the "intense collaboration with our clients to reduce wasted time, effort and resources from their daily operations through healthcare automation. We're grateful to them all."
TeleTracking Board Chairman Michael Zamagias said the record performance was gratifying, but "we measure our own performance by one key metric – the number of clients we keep. The KLAS measurement and our client retention rates are an extraordinary measure of how much you are satisfying your clients, and that's right in our sweet spot."
TeleTracking can be found at HIMSS13 booth #6619. The TeleTracking booth emphasizes customer demonstration areas where attendees can learn firsthand how leading provider organizations use TeleTracking's "Best in KLAS" patient flow solutions to increase efficiency and reduce waste in their organizations. If you are interested in speaking with TeleTracking executives or on-site clients at while at HIMSS13, please contact Jessica Cohen, Aria Marketing for TeleTracking at 617-332-9999 x203 or firstname.lastname@example.org.
For more than two decades, TeleTracking Technologies, the world leader in automated patient flow, has applied proven principles of logistics management to hospitals and health systems to enhance patient care, improve financial performance and gain a competitive advantage. Its industry-leading software and consulting services create an enterprise-wide capacity management platform that connects patient flow to patient care for better outcomes. TeleTracking solutions reduce overcrowding, cut costs, generate revenue, fight the spread of infection, manage assets, accelerate patient transfers and provide a wealth of data for continual operational improvement and business development. The company provides process planning and patient flow redesign through its consulting division, Avanti Patient Flow Services, and real-time asset and patient tracking through its TeleTracking RTLS Division. For more information, visit www.teletracking.com and join the conversation at http://blog.teletracking.com/.
Sr. Marketing Communications Manager
SOURCE TeleTracking Technologies, Inc.