Jan 10, 2002
HealthStream's e-Learning Solutions Selected by Trinity Health
NASHVILLE, Tenn., Jan 10, 2002 (BW HealthWire) --
Trinity Health, the third largest Catholic health system in the United States, will offer HealthStream's Healthcare Learning Center to their employees.
HealthStream, Inc. (Nasdaq/NM: HSTM), a leading provider of learning solutions for the healthcare industry, today announced that it has been selected by Trinity Health, Novi, MI, to offer e-learning solutions for their 30,000 employees in their 47 hospital facilities. Trinity Health is the nation's third largest Catholic healthcare system, generating over $4.5 billion in revenue in FY2001.
Upon the signing of this three-year agreement, four hospitals with over 7,000 employees in the Trinity Health system have already contracted to receive the Healthcare Learning Center in their facilities.
After an extensive search, Trinity Health chose HealthStream to offer state-of-the-art healthcare education and training via the Internet to their nurses, physicians, and allied healthcare professionals, and non-clinical employees. Using the Healthcare Learning Center, the most adopted learning platform in hospitals today, healthcare employees will be able to learn at their own pace, on their own time. Unprecedented accessibility to superior healthcare education, convenient record keeping, and the cost savings that are derived from the decision to use the Healthcare Learning Center are revolutionizing the way progressive healthcare organizations, like Trinity Health, train their employees.
"Trinity Health is committed to developing and maintaining an outstanding work force. This should include state-of-the-art training and education. We are pleased to offer our facilities the opportunity to introduce the Healthcare Learning Center from HealthStream," said William Anderson, senior vice president - Human Resources for Trinity Health.
By choosing the Internet-based Healthcare Learning Center, the healthcare facilities comprising Trinity Health can reduce upfront capital expenditures related to costly software and hardware, thus enhancing their bottom line. While experts differ on the extent, most research studies report cost savings of incorporating e-learning in an organization's business strategy that range from 30-70 percent.
In addition to cost savings, there is evidence that in many cases e-learning compresses the amount of time needed to complete a course by 30-50 percent compared to traditional classroom instruction. Coupled with studies that report increases in learning retention from e-learning, healthcare education directors are increasingly favoring e-learning solutions over traditional classroom formats for their busy healthcare employees.
"The decision of Trinity Health to join our growing list of healthcare organization clients reflects HealthStream's drive to match technology with results-oriented learning," said Michael Pote, senior vice president, HealthStream. "Adding another of the nation's major healthcare systems to our roster of clients further validates our mission to ultimately improve the quality of healthcare by improving the quality of healthcare education. We look forward to delivering our e-learning services to each of the healthcare facilities at Trinity Health."
HealthStream, Inc., with offices in Nashville, Tennessee and Denver, Colorado, is a leading provider of learning solutions for the healthcare industry.
Healthcare organizations use HealthStream's e-learning solutions to improve learning, increase compliance, and enhance organizational effectiveness for nurses, technicians, staff workers, physicians, and all clinical and non-clinical healthcare employees throughout the enterprise. Pharmaceutical and medical device companies use HealthStream's e-learning solutions to launch educational programs and reach healthcare professionals. Content providers use HealthStream's e-learning solutions to expand the reach of their programs worldwide. Healthcare portals for professionals use HealthStream's e-learning solutions to provide an instant, co-branded e-learning Web site for their users. HealthStream can be visited on the Web at www.healthstream.com.
About Trinity Health
Trinity Health, Novi, MI, is the country's third largest Catholic health system and is sponsored by the Catholic Health Ministries. Trinity Health owns and manages 47 hospitals, is affiliated with 13 acute care facilities, through Mercy Health Network (a joint operating company in Iowa with Catholic Health Initiatives), 342 outpatient facilities, 37 long-term care and seniors housing facilities, 38 home health and hospice offices, 20 hospice programs, an architectural firm, physician practice management and consulting company, and a benefits and insurance company. Trinity health owns Trinity Health Plans, which operates Care Choices, a health maintenance organization, and Preferred Choices, a preferred provider organization. Trinity Health employs more than 50,000 employees and reports $4.5 billion in operating revenue, and $353 million in charity care and community benefit ministry. For more information visit www.trinity-health.org.
This press release contains forward-looking statements that involve risks and uncertainties regarding HealthStream. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. Factors that could cause actual events or results to differ from anticipated events or results include HealthStream's limited operating history, its ability to integrate the operations and realize the results of recently completed acquisitions, as well as other risks that are contained in HealthStream's Annual Report on Form 10-K, together with other reports and documents filed from time to time with the Securities and Exchange Commission. Some of these risks and uncertainties relate to HealthStream's ability to: attract and maintain a large base of end users; develop its infrastructure, including additional hardware and software, customer support, personnel and facilities, to support its business; develop and introduce desirable services and compelling content; establish and maintain strategic relationships with content and distribution partners; establish and maintain relationships with sponsors and advertisers; and respond effectively to competitive and technological developments.
Media Contact: Mollie Elizabeth Condra