Innovative, first-of-its-kind, mobile-enabled solution launched for
regulatory training programs; uses HealthStream's benchmark data of over
18 million course completions
NASHVILLE, Tenn.--(BUSINESS WIRE)--
HCCS, a HealthStream (NASDAQ: HSTM) company, announced today the launch
of KnowledgeQ™, an innovative solution for hospitals to optimally manage
and achieve compliance of regulatory training requirements for their
workforce, while concurrently gaining insight into cost reduction
opportunities in their training program. Healthcare leaders (i.e.
executives and managers) are empowered with a strong set of data,
courseware, and unique capabilities to drive their regulatory training
programs to success, including national benchmarks from HealthStream's
network of over 4.5 million healthcare professionals. The components of
KnowledgeQ—an application for healthcare leaders, regulatory courseware,
standardized assessments, data, and national benchmarks—together provide
an unprecedented new paradigm in regulatory training compliance.
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Every employee in every hospital in the U.S. is required by federal
mandate to complete a series of OSHA courses—every year. Over 15 years
ago, HealthStream revolutionized the way this is done in U.S. hospitals
by introducing online learning for required regulatory training, saving
hospitals valuable time and expense while improving the quality of
learning for employees. Today, HCCS, HealthStream's company focused on
premier, innovative compliance solutions, is introducing the next
paradigm shift in regulatory training with KnowledgeQ.
With KnowledgeQ, healthcare leaders will:
(1) Set training goals intelligently with real-time data—based on
a series of detailed metrics that drill down into the readiness across
the organization and/or based on five core areas of knowledge.
(2) Benchmark progress against 18 million test results! KnowledgeQ
provides access to HealthStream's national benchmarks for regulatory
training from over 4.5 million healthcare professionals that together
have amassed over 18 million test results—as HealthStream has the only
set of such benchmarks aggregated from anywhere in the healthcare
industry.
(3) Manage to success, cutting cost and saving time. Tools for
collaboration within the hospital are provided, along with powerful
national benchmarks regarding time spent completing courses and
data-driven estimates of the cost of the regulatory training program.
(4) Make learning mobile, fun, and engaging for employees with
interactive, engaging courses—along with creative learning video games.
KnowledgeQ has 45 regulatory courses and 10 gaming modules built in and
ready for learners. All regulatory training has been designed with
modern web design principles, making it mobile-device ready (e.g. for
smartphones and tablets).
According to Health Data Management, nearly 90 percent of
healthcare leaders "believe analytics can help their organization make
better decisions." There are, however, formidable obstacles. In a study
conducted by IBM and Massachusetts Institute of Technology that surveyed
130 healthcare leaders, the #1 obstacle that prevents their widespread
adoption of analytics is their "ability to get the data" from within
their organizations. Enterprise intelligence is the ability to
assimilate and transform data in a way that makes it actionable by any
stakeholder within his/her appropriate span of control—and therein lies
the potential game-changing quality of KnowledgeQ. KnowledgeQ
provides actionable data (i.e. "intelligence") with a unique bundle of
innovative tools to manage and take action needed to drive outcomes.
Healthcare leaders that are responsible for regulatory training can now
quickly assess their organization's regulatory compliance readiness in
five distinct areas of knowledge. He/she can set and manage goals for
each of these categories and monitor the progress of his/her workforce
throughout his/her organization with detailed drill-down capabilities
and, for the first time anywhere, compare results externally
against thousands of other organizations across the U.S.
Training effectiveness can be assessed relative to cost in a direct
manner that has never before been possible. Labor rate data from the
Bureau of Labor and Statistics is built into KnowledgeQ by zip code,
which provides hourly rates for over 40 job categories in hospitals.
Coupled with access provided to the amount of time taken for a
hospital's workforce to complete its training, an estimate can be
derived of their true costs of their compliance training program.
Moreover, a hospital's cost of their program can be compared to other
healthcare organizations' costs—and best practices can be learned.
As a management tool, KnowledgeQ provides healthcare leaders with a
powerful capability where they can create an online discussion about
their observations and findings with their colleagues down the hall or
across the nation. In this way, collaboration is facilitated and action
can be taken on discoveries made from the data. Healthcare leaders can
directly manage their regulatory training programs to success.
Training effectiveness is also improved with increased engagement by
learners. Years of academic research support the conclusion that people
learn best when they are engaged with the content. When learning is
required, such as in the case of regulatory training requirements, the
effect of better learning via engagement may even be more pronounced.
With that in mind, HealthStream's long-standing, highly effective
regulatory course library has been redesigned and updated by HCCS with
interactive exercises to engage students and reinforce learning. Several
new and exciting learning video games have also been added to the
library as well.
KnowledgeQ is the second product—following Precyse University DNA—to be
launched that includes a Control Center™ application from HealthStream.
Control Center technology is unique to HealthStream and is made
available to HealthStream and our partners to develop innovative,
data-driven, outcomes-focused educational solutions.
"To truly empower healthcare leaders to more effectively make decisions,
it is imperative that they be given data at the point where they can
make meaningful behavioral changes in their workforce," said Robert A.
Frist, Jr., chief executive officer, HealthStream. "A simple report or
dashboard isn't enough; the right data with the right tools are needed
to support him/her in making decisions that drive real outcomes in
hospitals. For optimally managing a regulatory training program—a
requirement for all hospitals—I believe that KnowledgeQ is a potential
game-changer in the industry as healthcare leaders can increase
compliance and reduce costs in ways never before possible."
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 solutions is contracted by healthcare
organizations in the U.S. for workforce development, training & learning
management, talent management, credentialing, provider enrollment,
performance assessment, and managing simulation-based education
programs. Our patient experience/research solutions provide valuable
insight to healthcare providers to meet CAHPS requirements, improve the
patient experience, engage their workforce, and enhance physician
alignment. Based in Nashville, Tennessee, HealthStream has additional
offices in Laurel, Maryland; Brentwood, Tennessee; Pensacola, Florida;
Jericho, New York; and San Diego, California. 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 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. These forward-looking
statements are based on a variety of assumptions that may not be
realized, and which are subject to significant risks and uncertainties,
including that the acquisition may not be consummated and that the
anticipated financial and strategic benefits of the acquisition may not
be realized, as well as risks and uncertainties referenced from time to
time in the Company's filings with the Securities and Exchange
Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151015005432/en/
HealthStream
Mollie Condra, Ph.D., 615-301-3237
mollie.condra@healthstream.com
Source: HealthStream
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