Innovative, SaaS-based performance management solution provides an
automated, paperless performance appraisal process, saving time and money
NASHVILLE, Tenn.--(BUSINESS WIRE)--
HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning and
research solutions for the healthcare industry, today announced the
launch of the HealthStream Performance Center™ (HPC or Performance
Center), an innovative, software-as-a-service (SaaS) based performance
management solution for hospitals. The HPC provides an automated,
paperless performance appraisal process, which increases completion
rates and consistency with all aspects of hospitals' workforce appraisal
processes—enterprise-wide.
"The launch of the HealthStream Performance Center makes an important
contribution to our larger suite of talent management and development
solutions that also includes HealthStream's Learning Center, Authoring
Center, Competency Center, and SimCenter," said Robert A. Frist, Jr.,
chief executive officer, HealthStream.
Through the Performance Center, hospital managers can effectively
monitor and document employee performance, while also optionally
soliciting multi-rater assessments for broader feedback from peers and
supervisors to utilize in the review process. A series of online,
configurable appraisal forms are provided and external forms may be
downloaded. Employees are provided with select access to the system to
store their achievements, record job history data, and makes notes
throughout the year—all which can be useful in their performance
appraisals.
Hospital-based employees—like all employees—benefit from having a clear
understanding of performance goals, as well as ongoing communication
with their managers. The HealthStream Performance Center provides the
application that facilitates this process, which promotes an engaged
workforce. Employees are informed of the performance expectations that
will be used in their evaluations, thus they are measured by exactly
what they expected. For managers, employee performance can be more
closely aligned with the organization's strategic goals and overall
mission.
HealthStream makes the conversion to an online performance management
system simple. Using the HPC is intuitive and logical and includes
pre-built assessments, ensuring rapid adoption for managers and
employees. Reports can be quickly generated that meet HR or Joint
Commission reporting requirements. A system of alerts and email
reminders are built into the HPC to make sure that deadlines are met and
managers are made aware of their completion ratios.
For hospitals already using HealthStream's Learning Center—which is
currently over approximately half of the nation's hospitals—there are
powerful additional benefits immediately available with the HPC. Since
the Learning Center and Performance Center share a common platform, many
time-consuming, labor-intensive tasks involved in adoption are
eliminated. Enterprise-level data management tasks related to
organizational hierarchy and groups, reporting structures, and employee
data feeds are already in place within HealthStream's platform.
Moreover, user familiarity with the system—among both managers and
employees—is already established for Learning Center customers, making
the transition easy for everyone.
To learn more about the HealthStream Performance Center, go to www.healthstream.com
or call us at 800-933-9293.
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 cloud-based software solutions are
used by, collectively, over 2.7 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, Inc.
Mollie Condra, Ph.D., 615-301-3237
Associate
Vice President, Investor Relations & Communications
Mollie.condra@healthstream.com
Source: HealthStream, Inc.
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