Behavior-based assessments added to HealthStream's talent management
product suite
NASHVILLE, Tenn.--(BUSINESS WIRE)--
HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning,
research, and talent management solutions for the healthcare industry,
today announced the launch of behavior-based, non-clinical assessments
designed for use in the healthcare industry: Select for Healthcare™ and
Assess for Healthcare™. These software-as-a-service (SaaS) based
assessments are available through a distribution agreement signed with
Assess Systems, a Dallas, Texas based talent assessment and consulting
company. These products expand HealthStream's talent management suite of
products with solutions for healthcare organizations to make better
hiring, placement, and promotion decisions for their workforce. For the
acute-care market, HealthStream will be the exclusive provider of these
assessments from Assess Systems.
At a time when hospitals are required to do more with less, the
importance of having the right individuals in the right job becomes both
a quality of care and bottom-line financial concern. According to
industry experts, it takes one-and-one-half times a nurse's annual
salary to recruit and train a new nurse. Turnover rates have been as
high as 60 percent, costing a typical hospital $5.4 to $7.2 million,
annually. The larger cost may be paid in decreased quality of care. The
American Association of Colleges of Nurses reports "an increase in RNs
contributes to a decrease in hospital-related mortality and reduced
lengths of patient stays, whereas inadequate staffing is known to
compromise patient care." Hence, the need to hire well, retain talent,
and develop employees has become an urgent business need for healthcare
organizations—and these tasks are made easier with Select for
Healthcare™ and Assess for Healthcare™.
"Our assessments are scientifically based, valid measurement tools that
have been used with proven effectiveness in the healthcare industry
where an organization's people make a defining difference in business
outcomes," said JoAnn McMillan, Ph.D., chief operating officer, Assess
Systems. "The growth and job outlook in the healthcare industry are
attracting a wide range of applicants for healthcare organizations,
making it difficult, costly, and time-consuming to find the right
candidate for each position. HealthStream's offering of Select for
Healthcare™ and Assess for Healthcare™ provide outstanding solutions to
improve and advance this process."
The Select for Healthcare™ assessments help HR and hiring managers
screen applicants at the beginning of the hiring process, allowing the
quick identification of prospective employees with the attributes that
lead to job success and a positive patient experience. It is comprised
of online behavior-based, non-clinical questions for the applicant that
takes approximately 15 minutes to complete. The Assess for Healthcare™
assessment is designed to help HR and hiring managers determine if a
candidate—externally or from within the organization—is a good fit for a
leadership position. It is comprised of online behavior-based,
non-clinical questions that take approximately 30 minutes to complete.
Results from both assessments are provided instantaneously to the
administering HR/hiring manager.
HealthStream will immediately provide Select for Healthcare™ and Assess
for Healthcare™ to healthcare organizations as stand-alone products,
while future plans include offering them as an integrated solution
through HealthStream's platform. "We look forward to offering these two
new assessment tools from Assess Systems; they add an important
component to our overall talent management strategy for hospitals and
healthcare networks," said Robert A. Frist, Jr., 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 are used by, collectively, approximately 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 additional offices in Laurel, Maryland and
Austin, Texas. For more information, visit http://www.healthstream.com
or call 800-933-9293.
About Assess Systems
Assess Systems is an innovative SaaS and consulting company providing
talent selection and people development solutions to organizations
worldwide. Focusing on person-job-organization fit, our assessment-based
solutions help our clients attract, select, develop and promote talent
resulting in improved business outcomes. For more than 25 years, Assess
Systems has assessed millions of people in a broad spectrum of
industries and positions spanning 42 countries and supporting 16
languages. Our solutions include: selection process design; competency
modeling; entry-level assessments; competency-based professional,
management, and sales assessments; hiring manager interview guides and
eLearning; leadership development programs; 360° feedback; succession
planning; executive assessment and coaching. For more information, visit http://www.assess-systems.com
or call 800-283-6055.
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, Inc.
Mollie Condra, Ph.D., 615-301-3237
Associate
Vice President, Investor Relations & Communications
Mollie.condra@healthstream.com
or
Assess
Systems
Diane Ianni, 972-233-6055
Vice President,
Marketing & Sales
Dianni@assess-systems.com
Source: HealthStream, Inc.
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