HTP, Inc. Announces Another Record-Breaking Year
Strong fourth quarter contributes to revenue, customer and employee growth in 2006.
Columbus, OH (PRWEB) January 16, 2007
HTP, Inc. (www. htp-inc. com), a leading developer of software for the healthcare industry, today announced that 2006 was a banner year in terms of revenue and company growth. New product launches, product enhancements and increased sales contributed to a 35 percent increase in revenue and a 62 percent growth in number of employees compared to 2005. HTP also supported more than 206 million data exchanges between healthcare providers and payers, ranking it among the largest healthcare information exchange companies in the country.
"HTP's success is built on our vision of transforming the business of healthcare in America," said HTP President and CEO Ray Shealy. "Our innovations in electronic information exchange help healthcare organizations cut the red tape in their patient information and billing practices, supporting a healthier outlook for patients, healthcare providers and the country's healthcare system as a whole."
A key factor in the company's growth was the November launch of HTP RevRunner 3.0, now in use at hospitals and health systems in 10 states. This groundbreaking product suite is based on industry-recognized best practices for revenue cycle management. Using government standards and business intelligence, the Web-based ASP model software supplements existing billing practices to help providers maximize collection and accelerate reimbursement for their services.
Earlier in the year, the company also released three independent modules in the HTP RevRunner software suite - HTP Verifier, HTP Advocate and HTP Estimator. These modules enable hospitals to verify insurance eligibility from every possible payment source, meet pricing transparency requirements, collect payments at the point of service and implement patient-friendly billing practices.
In the fourth quarter alone, 14 hospitals and health systems in California, Illinois, Kentucky and Ohio signed agreements to use HTP RevRunner. Key sales were to The Ohio State University Medical Center, OhioHealth, the Cincinnati-based HealthAlliance system, and Redlands Community hospital in Redlands, Calif.
Another significant achievement was the deployment of the HTP ClinicianSM module of HTP MedRunner™ software by the Utah Health Information Network, recognized as the country's first successful state-wide Regional Health Information Organization (RHIO). HTP Clinician enables healthcare providers and health plans throughout the state to exchange patient care information.
The company ramped up staffing to support continued growth, ending the year with 60 employees, compared to 37 at the end of 2005. Key hires in business development, sales, software development and customer care brought a combined 45 years of experience with industry-leading healthcare information technology companies to HTP.
Other 2006 highlights included:
Cybertrust awarded security management certification to HTP, recognizing "the organization's continued compliance with an extensive and continuous security assurance process, and validates the presence of risk reduction practices."
In recognition of HTP's work with RHIOs, TechColumbus bestowed its Outstanding Service of the Year award on HTP MedRunner.
For the third consecutive year, Business First of Columbus recognized HTP as one of its "Fast Fifty" high-growth companies.
Additions to HTP's executive team included Vice President of Business Development Leigh Orlov, Vice President of Customer Care Blair Baker and Vice President of Sales Rod Nicholls.
HTP formed strategic alliances with GBS, Uni/Care Systems, Inc. and FHS Corp.,
The company opened a new, 13,237-square-foot office suite in Columbus, as well as a Midwest office in St. Louis.
Leveraging its expertise in healthcare information exchange, HTP joined more than 45 other leading healthcare organizations in an agreement to implement rules for electronically exchanging eligibility and benefits information developed through the Council for Affordable Quality Health Care (CAQH) Committee on Operating Rules for Information Exchange (CORE) effective March 1, 2007. HTP CTO Fred Richards is a founding member of CORE.
President and CEO Ray Shealy was recognized as one of the "Forty Under 40" young leaders in the central Ohio business community by Business First of Columbus.
About HTP, Inc.
HTP develops award-winning software that improves efficiency, profitability and patient satisfaction for hospitals, insurance companies, managed care organizations, third-party administrators and Regional Health Information Organizations. HTP software is used by 227 hospitals and 25 health plans in 25 states. Notable customers include Ohio Medicaid, The Midland Group, OhioHealth, Redlands Community Hospital, Condell Medical Center, The Ohio State University Medical Center and the Utah Health Information Network - the nation's first successful RHIO.
For more information on HTP or to learn how its software is transforming healthcare information exchange for providers, payers and RHIOs, call 888.487.8010 or go to www. htp-inc. com.
HTP Inc. Media/Industry Analyst Contact:
Cheryl Claypoole, Fahlgren Mortine Public Relations
Tel: 614.825.1721
Rob Krohn, HTP
Tel: 614/396.4537
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