Press Release
For Immediate Release
MedeFinance and Media Contact: James T. Quist Chairman & CEO 510.647.1300 extension 204 email: jquist@medefinance.com
MedeFinance Secures Three New Clients; Hospitals Select On-Demand Analytics to Improve Financial Performance
OAKLAND, Calif.– February 15, 2005 — Emeryville-based MedeFinance, the industry’s first provider of hosted, on-demand analytic software and services for healthcare financial managers and executives, announced today the signing of three new contracts with Centinela Freeman HealthSystems (CFHS Holdings, Inc.), Texas Children’s Hospital, and Midway Hospital Medical Center (Physicians of Midway, Inc.) The hospitals will use MedeFinance’s financial analytic software and services to better manage and improve critical aspects of their organization’s revenue cycle and financial performance. Over 400 U.S. hospitals currently use MedeFinance’s software and services, enabling financial executives to make rapid and sustainable improvements to enterprise-wide financial performance. Healthcare professionals are provided the ability to compare actual performance measures against established targets in a variety of areas, drill into detailed transactions, identify root causes, and take appropriate action to enhance performance. "These new contracts validate the continuing mandate for analytics and business intelligence to improve financial performance”, stated Jim Quist, Chairman and CEO of MedeFinance. “The flexibility of our product, our on-demand business model, and our transformational services help our clients remain profitable in today’s competitive healthcare marketplace." Centinela Freeman HealthSystem, ( CFHS Holdings, Inc.), is an 894 bed, three-hospital campus provider of health care services to the communities of West Los Angeles, Marina del Rey, Inglewood, and the South Bay. Centinela Freeman offers comprehensive health care services including OB and neonatal intensive care, pediatrics, advanced orthopedics, and state of the art cardiac care. Centinela Freeman’s three campuses include Centinela Hospital Medical Center and Daniel Freement Memorial Hospital, both in Inglewood, CA, and Daniel Freeman Marina Hospital in Marina del Ray, CA. Texas Children's Hospital is an internationally recognized full-care pediatric hospital located in the Texas Medical Center in Houston. The largest pediatric hospital in the United States, Texas Children's is nationally ranked in the top five among children’s hospitals. Texas Children’s is affiliated with Baylor College of Medicine and is its primary pediatric training site. The hospital's award-winning medical staff consists of more than 1,580 board-certified, primary-care physicians, pediatric sub-specialists, pediatric surgical subspecialists and dentists. Midway Hospital Medical Center has been providing medical care to West Los Angeles since 1947. The 204-bed facility provides general acute services as well as specialty programs including the center for heartburn and esophageal disorders, bariatric surgery, sub-acute services, and pulmonary rehabilitation. Formerly part of Tenet Healthcare Corp., the Medical Center was recently acquired by Physicians of Midway, Inc., a group of community physicians most of whom have been leaders of the medical staff and have practiced at Midway Hospital Medical Center for nearly two decades. About MedeFinance MedeFinance is the industry’s first provider of on-demand analytic software and services for healthcare financial managers and executives. The company is recognized for delivering innovative services that improve financial performance and create sustainable value through a revolutionary combination of sophisticated analytics, an instantly available IT environment, and unparalleled client services. The company serves over 400 U.S hospitals, including Kaiser Permanente, Tenet Healthcare Corp., Partners HealthCare, and Triad Healthcare Inc. Founded in 1994, MedeFinance is a rapidly growing, privately held company headquarted in Emeryville, Calif. To find out more about MedeFinance, visit www.medefinance.com.