HealthStream, Inc.
Aug 29, 2012

HealthStream Signs Exclusive Distribution Agreement with NurseCompetency, Expanding Talent Management Product Suite

NASHVILLE, Tenn.--(BUSINESS WIRE)-- HealthStream (NASDAQ: HSTM), a leading provider of learning and research solutions for the healthcare industry, announced today that it has signed an agreement with Nursing Registry Consultants Corporation (doing business as "NurseCompetency") to be the exclusive distributor of NurseCompetency's innovative software-as-a-service (SaaS) based competency exams and skills checklists to hospitals and health networks in the U.S. These products expand HealthStream's talent management suite of products with solutions for testing and documenting nurses' clinical competencies.

As hospitals shift to a model focused on performance-based outcomes to improve care, the need to measure the clinical competencies of their workforce becomes paramount. Through NurseCompetency, HealthStream will offer over 75 valid and evidence-based exams that cover a wide range of clinical competencies required for nurses in hospitals, including the areas of critical care, psychiatric nursing, palliative care, magnetic resonance imaging, respiratory therapy, among many others. The library of clinical exams will be expanded as HealthStream assists NurseCompetency in the development of new testing materials.

"The clinical exams from NurseCompetency play a key role for healthcare organizations' talent management programs—as they are used to measure and ensure that clinical personnel are knowledgeable and competent to perform the tasks associated with their respective positions," said Elease Caracci, vice president, NurseCompetency. "The high level of authority among our subject matter experts consulted and the rigor in exam development both contribute to make NurseCompetency's clinical exams among the best available anywhere for assessing competencies."

Along with clinical competency exams, over 55 clinical skills checklists will be offered through HealthStream, covering a wide range of professional specialties. These self-assessments allow nurses to consider the skills required for successful job performance and correspondingly track their progress. Some of the areas where skills checklists are provided include endoscopy, oncology, magnetic resonance imaging, mammography, hospice, among many others.

As nurses comprise the largest single component of hospital staff, the competency of nurses factors heavily into the overall competency of care provided to patients. It is, therefore, critically important to measure nurse competencies with highly effective exams and checklists that are designed for this purpose.

HealthStream will immediately provide NurseCompetency's clinical exams and skills checklists for nurses as stand-alone products, while future plans include offering them as an integrated solution through HealthStream's platform. "We look forward to offering NurseCompetency's outstanding products; they add an important component to our overall talent management strategy for hospitals and healthcare networks," said Robert A. Frist, Jr., chairman and chief executive officer, HealthStream.

About HealthStream

HealthStream (NASDAQ: HSTM) is dedicated to improving patient outcomes through the development of healthcare organizations' greatest asset: their people. Our unified suite of software-as-a-service (SaaS) solutions have been contracted by, collectively, over 2.9 million healthcare employees in the U.S. for training & learning management, talent management, performance assessment, and managing simulation-based education programs. Our research solutions provide valuable insight to healthcare providers to meet HCAHPS requirements, engage their workforce, and enhance physician alignment. Based in Nashville, Tennessee, HealthStream has an additional office in Laurel, Maryland. For more information, visit http://www.healthstream.com or call 800-933-9293.

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. This information has been, or in the future may be, included in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. The Company's preliminary financial results, while presented with numerical specificity, are forward-looking statements which are based on a variety of assumptions regarding the Company's operating performance that may not be realized, and which are subject to significant uncertainties and potential contingencies associated with the Company's financial and accounting procedures and other matters referenced from time to time in the Company's filings with the Securities and Exchange Commission. Consequently, such forward-looking information should not be regarded as a representation or warranty by the Company that such projections will be realized.

HealthStream
Mollie Condra, 615-301-3237
mollie.condra@healthstream.com

Source: HealthStream

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