NASHVILLE, Tenn.--(BUSINESS WIRE)--
HealthStream (NASDAQ: HSTM) announced today the introduction of Echo
Inc. to the marketplace, its newly formed company that combines its
HealthLine Systems and SyMed Development businesses, which were acquired
in March 2015 and October 2012, respectively. Together, Echo is
established as the market leader in medical staff credentialing, payer
credentialing, provider enrollment, provider analytics, and contact
center solutions to transform patient experiences beginning at the first
touch point. More than 2,000 healthcare organizations are already
benefitting from Echo's powerful suite of products.
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"Today is an exciting day for our clients, employees, and our ‘Plugged
into Echo' partners. Building on the successes of our predecessor
companies, Echo's solutions are playing a crucial role as hospitals seek
to transform manual, error-prone activities into scalable, paperless
processes that comply with regulations and optimize outcomes," said
Michael J. Sousa, president, Echo. "Moreover, I am excited about our
emerging innovations, which I believe will shorten credentialing and
enrollment timelines, boost care quality, fuel admissions, and bolster
patient and provider satisfaction."
Echo offers five primary solutions for healthcare organizations, which
can be deployed individually or integrated.
EchoCredentialing is a comprehensive platform to manage medical
staff credentialing and privileging processes. It delivers an
enterprise-class platform that enables paperless processes, unified
privileging, one-click integration with our partnered, NCQA-certified
CVO services to support periodic volume spikes, and an innovative
Provider Navigator portal that provides online credentialing
applications, credentialing committee assessments, peer review
workflows, and real-time provider reviews with update capabilities.
EchoOneApp is a solution for payer credentialing, consisting of
a full-featured provider enrollment platform that includes automatic
form population from a continuously updated library of over 3,200
pre-formatted payer form templates as well as online form integration
with CAQH, CMS PECOS, and state-based payer enrollment sites.
EchoAccess is an enterprise-class platform to support hospital
contact centers including physician referral, clinical triage,
provider directories, class enrollment, and a discharge planning
functionality. It enables streamlined access to care, helps to bridge
the transition to value-based reimbursement, and provides
trust-building personal connections at a hospital's critical first
point of contact.
EchoAnalytics provides a wide array of validation tools,
including license, exclusion, and sanction monitoring; provider
scorecards—including OPPE/FPPE, CMS Open Payments, CAHPS, and social
media ratings; and dashboard and benchmarks for process metrics.
EchoOnboarding - our forthcoming solution that consists of an
onboarding dashboard, intuitive workflows for a provider to manage his
or her progress, and onboarding navigator tools to enable the
management and monitoring by the multitude of departments involved in
Echo is also launching its "Plugged into Echo" network, a growing
eco-system of partners who provide solutions for the Echo community.
Valence Health, a leading provider of value-based care
solutions, powers a unique solution known as EchoOPPECompare, which
provides benchmarks for OPPE metrics that enable the comparison of
providers to external OPPE-related data.
Binary Fountain will power the EchoPSI Scorecard with its
Provider Social Index (PSI), providing a comprehensive measure of
provider reputation across social media, rating/review sites, and a
growing number of online sources.
HealthStream's Jericho-based office (Health Care Compliance
Strategies), offers compliance solutions that provide another
plug-in to Echo's eco-system, which powers its Open Payments Scorecard
for EchoCredentialing clients.
Schmitt-Thompson Clinical Content, a leading provider of
telephone triage care, is the clinical content provider for the
EchoAccess contact center solution.
Madaket Health will power the EchoOneEDI solution, which
automates enrollment in Electronic Funds Transfer (EFT), Electronic
Remittance Advice (ERA), Electronic Data Interchange for Claims (EDI),
Claims Status Inquiry (CSI), and Eligibility Verification (EV)
directly with payers.
"Binary Fountain is proud to ‘Plug into Echo' with the first ever,
standardized, metric-based, open, social media data," said Rahul
Prakash, Binary Fountain co-founder and head of corporate development.
"We believe our partnership with Echo, a HealthStream Company, will
significantly enhance the platform."
"Madaket Health is very excited to join the "Plugged into Echo"
partnership program," said Jim Dougherty, co-founder and chief executive
officer, Madaket Health. "EchoOneEDI will be powered by our solution to
automate the enrollment of providers into EFT, ERA, EDI, CSI, and EV
programs. We look forward to bringing this innovation to the Echo
community and are confident that the results will be both unique and
As a HealthStream company, Echo provides an important dimension to
HealthStream's overall strategy to support healthcare organizations and
their respective workforces—in significant ways that benefit
hospitals—ways that are not offered by any other vendor. As hospitals
manage required workforce training and certifications, they can then
automatically feed that data directly from the HealthStream Learning
Center (HLC) to EchoCredentialing, which is vastly more efficient than
the way most hospitals complete this process now. In addition,
EchoCredentialing clients will be able to set up hospitals' non-employed
providers (e.g. many physicians, etc.) in the HLC with a feed from
EchoCredentialing software, thereby centralizing the process to track
the non-employed providers' training, certifications, and continuing
education. Also, as a CAHPS provider, HealthStream can translate its
extensive patient satisfaction data into a CAHPS provider scorecard in
EchoCredentialing and into a provider directory in EchoAccess.
"At HealthStream, it has always been our goal to support healthcare
organizations in surrounding the patient with the best developed
workforce," said Robert A. Frist, Jr., chief executive officer,
HealthStream. "We view provider credentialing and its related processes
as a baseline, critical gateway to patient safety and quality care. Our
innovative approach represents, I believe, an exciting future for
hospitals and providers as we advance technology to use data
intelligently, streamline processes, and create a powerful eco-system of
You can learn more about Echo and its solutions by visiting its website: www.echo-solutions.com.
Echo will be exhibiting and participating in several large healthcare
conferences, beginning with NAMSS, MGMA, and SHSMD in October 2015.
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,
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
View source version on businesswire.com: http://www.businesswire.com/news/home/20150929005483/en/
Mollie Condra, Ph.D., 615-301-3237
News Provided by Acquire Media