Medstreaming, a leading medical informatics company, is announcing an investment partnership with Norfolk, Virginia-based Sentara Healthcare. Medstreaming specializes in workflow productivity technology and healthcare analytics. Sentara is a fully integrated not-for-profit system of 12 hospitals, medical services, and a health plan. The new capital from Sentara’s investment will sustain and bolster Medstreaming’s growth strategy for its specialty based workflow solutions and clinical analytics platform, and continue the development of the Clinical Data Management (CDM) echo system.
“Medstreaming offers providers a turnkey solution for improving workflows and outcomes,” said Kenneth M. Krakaur, president of Sentara’s Third Core investment group. “We believe the innovative CDM platform helps clinicians harness the benefits of system-wide standard workflows with structured clinical databases.”
Medstreaming’s CDM workflow solutions are currently in use at more than 225 healthcare organizations throughout the US and worldwide. The CDM digital solution provides enterprise service lines and physician practices with structured reporting workflow applications which significantly improve clinician efficiencies and enhance patient engagement. In addition, the structured CDM database allows caregivers and organizations to easily aggregate clinical data for streamlined reporting, credentialing, registry participation, and improved outcomes analysis.
“Hospitals and physician offices need workflows to more efficiently aggregate, organize, visualize, and report clinical data to reduce the billions of dollars wasted each year in the U.S. healthcare system”, said Michael Thompson, Medstreaming’s chief operating officer. “In addition, healthcare providers and organizations need highly structured clinical data to demonstrate they offer the most cost-effective care models for their patients. The Sentara partnership will help support our transformation of clinical workflow and data aggregation to address these immediate needs.”
As part of the new relationship, Krakaur and Robert Broermann, Sentara senior vice president and chief financial officer, will join the Medstreaming Board of Directors.
“Our company objectives align well with Sentara’s market expertise as both a provider and payer and we are looking forward to benefiting from Sentara’s operational excellence and clinical direction as we accelerate the adoption of our platform technology,” said Wael Elseaidy, co-founder and CEO, Medstreaming. “This strategic relationship is also a testament to the innovation and digital health solutions our employees and clients have helped us create over the last eight years.”
Many challenges confront the medical industry due to an extremely fragmented data management structure. To address this fragmentation, Medstreaming created a Specialty-Based Vascular, Cardiovascular, and Women’s Health Workflow Application which functions as a “best of breed” performance layer in the inpatient workflow on top of inpatient electronic medical records (EMR). Using this clinical workflow expertise, Medstreaming has also developed the industry’s first “All in One” integrated platform application that runs as an outpatient EMR, image management & reporting, and practice management workflow solution. All Medstreaming solutions act as an aggregator for structuring clinical data which in turn creates powerful data service offerings for multi-purpose, web-based, data mining and data analytics. Medstreaming is headquartered in Redmond, WA. For more information, visit http://www.medstreaming.com.
About Sentara Healthcare
Sentara Healthcare, based in Norfolk, Virginia, is an acknowledged leader in patient safety, quality and innovation with a corporate mission ‘To Improve Health Every Day.’ An integrated not-for-profit system with 26,000 employees, Sentara serves Virginia and northeastern North Carolina with 11 acute care hospitals including a Level I trauma center, outpatient campuses, rehabilitation, home health and hospice, senior services, medical groups, an ambulance service, the Nightingale Regional Air Ambulance and the Sentara College of Health Sciences. Optima Health is a Sentara-owned health plan. Four foundations support creative solutions to help meet community health needs.
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