CTG Health Solutions Achieved Strong Growth in Revenue, Business Engagements, Offerings, and Consultants in 2012
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 27 February 2013
Release date- 26022013 - DALLAS - CTG Health Solutions (CTGHS), a leading health information technology (HIT) consulting firm and a business unit of CTG (NASDAQ: CTGX), an IT solutions and services company, announced today that 2012 was another outstanding year for the organization.
Some of 2012's key accomplishments included major new and expanded business wins, continued revenue growth, and new and enhanced product and service offerings that will fuel increasing demand for its health information technology (HIT) and business consulting services. The company has also continued its unwavering dedication to creating and refining the corporate culture to provide the support, recognition, and opportunities that attract and retain in-demand, top-tier consultants and other employees.
CTGHS' market leadership, full-service capabilities, and innovation have made company leaders go-to resources for reporters, influential bloggers, and industry analysts who value their market understanding, vision, real-world perspective, and insights on HIT trends and issues. CTGHS' continued growth has also been recognized by steadily rising rankings on Modern Healthcare's annual ranking of the largest healthcare management consulting firms and a ten place jump in just two years in the 2012 Healthcare Informatics 100.
Some of the year's most notable accomplishments include:
Increased revenue from CTG's healthcare business by 18 percent over 2011, accounting for 33 percent of the company's total 2012 revenue. This continued revenue growth was fueled by major new provider, payer, and HIE business wins and the expansion of existing agreements that included several deals valued at more than $1 million.
Expanded the healthcare IT consulting team despite an increasingly competitive recruiting environment.
Reinforced its position as one of the largest EHR implementers and optimizers for all major EHR systems, including Epic, Cerner, MEDITECH, McKesson, Siemens, Allscripts, and many more.
Placed tenth on Modern Healthcare's 2012 annual ranking of the largest healthcare management consulting firms by provider revenue, marking the fifth consecutive year CTGHS has appeared on this list.
Ranked 59th in the 2012 Healthcare Informatics 100, the annual list of the top 100 HIT vendors based on revenue, which has included CTGHS since 2008.
As one of the country's largest healthcare consulting firms, CTGHS was able to leverage its full-service capabilities for diverse projects that included EHR implementations and optimizations, ICD-10 readiness and remediation, meaningful use and IT assessments, meaningful use assessments and implementations, strategic planning, legacy system management, governance, project management, security assessments and remediation, training and more. Additionally, the company continued to enhance its analytics offerings, tools, and methodologies developed to position organizations to successfully navigate the changing healthcare environment. Surging demand for cross-practice solutions, over-committed and overwhelmed client internal IT departments, and an overall market shortage of qualified HIT experts are expected to drive continued strong growth in 2013.
'Meaningful use, ICD-10, analytics and ongoing pressure to improve the quality, safety and efficiency of care are driving many of our engagements, but as EHRs and claims and benefit administration systems are deployed and the ICD-10 transition finally takes place, priorities will evolve and new challenges will emerge,' stated Ted Reynolds, Vice President, CTGHS. 'We are always looking ahead and continuing to enhance our already comprehensive service offerings, analytical tools, and methodologies to further bolster CTG Health Solutions' ability to address our clients' needs now and in the future.'
Additional CTGHS 2012 highlights include:
Developed market-driven service offerings to solve critical business issues such as ICD-10 testing and remediation; service and help desk support; medical claims analysis and management; and, post-implementation EHR system production support.
Refined Exemplar Methods and Tools, a proprietary and innovative set of tools and methodologies, developed over the past 25 years and based on best practices and experience gained from providing technology and business solutions to more than 600 provider and payer clients.
Added to CTG's intellectual property assets by obtaining U.S. Patent No. 8,219,414 for its groundbreaking medical informatics software solution that employs advanced business intelligence to analyze large amounts of clinical data to identify best treatments and providers for serious, expensive-to-treat illnesses.
CTGHS continues to recognize that attracting and retaining the best and brightest HIT consultants is crucial and in 2012 maintained its unwavering focus on creating an environment and culture that make it an employer-of-choice in a very competitive market. Some of CTGHS' 2012 recruiting and retention initiatives included:
Assigned Practice Coordinators to support our consultants in the field and to relieve them of many day-to-day administrative tasks, thereby allowing consultants to focus on high-value activities;
Continued commitment to funding and making available professional/career development through cross training and enhanced skills development;
Developed a new Solution Manager position for 2013 that will provide focus on coaching, mentoring, and career development of consultants with similar competencies.
Supported opportunities for consultants to become recognized industry thought leaders through media interviews, bylined articles, contributions to influential industry blogs, speaking engagements, white papers, and other high visibility activities;
Refined and strengthened the organization's New Employee Orientation (NEO) program and onboarding process; and,
Continued the company's history of giving by creating opportunities for employees to make a difference beyond the workplace through programs such as the Military Appreciation holiday giving campaign.
The positive effects of these efforts were recognized in higher retention rates, something we expect will continue in 2013. Only two of the approximately 100 team members who attended the company's NEO and onboarding process voluntarily left the company in 2012.
Reynolds added, 'Our reputation for providing sound, strategic, and unbiased advice; wide-ranging expertise and experience; comprehensive services; and proven success in helping healthcare organizations address their technology, business, and regulatory challenges positions CTG Health Solutions for continued growth as the healthcare industry undergoes unprecedented transformation over the next several years. Our goal is to continue to be the 'one-stop, go-to resource' that healthcare organizations can rely on to meet their constantly growing needs.'
About CTG Health Solutions
CTG Health Solutions (CTGHS), the healthcare division of CTG, is a leading information technology consulting firm dedicated solely to helping healthcare institutions, physician practices, payers, and related organizations achieve clinical and financial goals through effective technology and business solutions. Over the last 25 years, CTGHS has provided healthcare IT, and operational and strategic consulting support to more than 600 healthcare organizations. CTG (NASDAQ: CTGX) is a publicly-traded IT services and solutions company that was founded in 1966, operates in North America and Western Europe, and has approximately 3,900 employees. For more information, visit: www.ctghs.com.
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