MedQuist Awarded Technology Contract With Novation, LLC on Behalf of VHA, UHC and Provista
24 October 2011 - 9:45PM
MedQuist Holdings Inc. (Nasdaq:MEDH), a leading provider of
integrated clinical documentation solutions for the U.S. healthcare
system, today announced that Novation, LLC has awarded the company
an expanded agreement to serve its member organizations with
clinical documentation technology and services, coding and
analytical reporting capabilities for hospitals, physician
practices and radiology clinics representing more than 30,000
members and affiliates.
Novation is the industry's leading healthcare supply contracting
company for the members of VHA, a national healthcare network; UHC,
an alliance of leading nonprofit academic medical centers; and
Provista, a leading supply chain improvement company.
As an awarded supplier of Novation, LLC, MedQuist recently
expanded its agreement to provide members access to cutting edge
technology as well as industry-leading clinical documentation
services. Augmenting traditional capital purchase models, MedQuist
offers SpeechQ to capture spoken words and turn them into text for
radiology and general medicine; DocQment Enterprise Platform for
clinical documentation process management; and DocQVoice, a
scalable, web-based clinical documentation management system. The
expanded contract provides members with exclusive pricing and
access to the entire suite of MedQuist solutions which can help
facilities reduce costs, improve quality, streamline clinical
documentation processes, foster EHR adoption, and meet Meaningful
Use requirements.
MedQuist Holdings Chairman & CEO Vern Davenport comments,
"As an awarded supplier of Novation, we are pleased that MedQuist
now has the opportunity to provide access to enterprise clinical
documentation technology. This will provide significant value to
the members served by Novation as more facilities move toward
adoption of Electronic Health Records and achieving Meaningful Use
incentives under the HITECH Act."
About Novation
Founded in 1998, Novation is the leading health care supply
contracting company for more than 25,000 members of VHA Inc. and
UHC, two national health care alliances, and 5,500 members of
Provista, LLC, representing more than 30,000 sites. Novation
provides alliance members contract and price management and spend
management services. Based in Irving, Texas, Novation develops and
manages competitive contracts with more than 600 suppliers. VHA,
UHC and Provista members used Novation contracts to purchase
approximately $40 billion in 2010.
VHA is a national network of not-for-profit health care
organizations based in Irving, Texas that work together to drive
maximum savings in the supply chain arena, set new levels of
clinical performance and identify and implement best practices to
improve operational efficiency and clinical outcomes. Formed
in 1977, coordinating delivery of its programs and services through
its 16 regional offices, VHA serves both acute care hospitals and
non-acute care providers nationwide.
UHC is an alliance of the nation's leading nonprofit academic
medical centers, which are focused on delivering world-class
patient care. Based in Chicago, Ill, UHC fosters collaboration
with and among its 114 academic medical center and 255 affiliated
hospital members through its renowned programs and services in the
areas of comparative data and analytics, performance improvement,
supply chain management, strategic research, and public policy. UHC
helps its members achieve excellence in quality, safety, and
cost-effectiveness. Formed in 1984, UHC's membership includes more
than 90% of the nonprofit academic medical centers in the United
States.
Provista is a leading supply chain improvement company dedicated
to reducing supply spend and improving financial and operational
performance in the health care, education, hospitality and
corporate markets nationwide. Provista is jointly owned by
VHA.
About MedQuist
MedQuist is a leading provider of clinical narrative capture
services, delivering Speech Understanding technology from M*Modal
and clinical documentation workflow. MedQuist's enterprise
solutions – including mobile voice capture devices, speech
recognition, Web-based workflow platforms and global network of
medical editors – help healthcare facilities facilitate adoption of
electronic health records (EHR), improve patient care, increase
physician satisfaction and lower operational costs. For more
information, please visit www.medquist.com.
"Safe Harbor" Statement under the U.S. Private Securities
Litigation Reform Act of 1995: Statements in this press release
regarding MedQuist's business that are not historical facts are
"forward-looking statements" that involve risks and uncertainties.
Actual outcomes and results may differ materially from what is
expressed or forecasted in forward-looking statements. As a result,
forward-looking statements speak only as of the date they were
made, and the Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
CONTACT: Thomas Mitchell
Director of Marketing
615-798-6630
tmitchell@medquist.com
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