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CARMEL, IN (January 2016) – PolicyStat LLC, (www.policystat.com) the leading provider of policy lifecycle management solutions for healthcare organizations, is pleased to announce its fiscal year 2015 results.
PolicyStat continued its tradition of solid revenue growth in 2015, continuing the company’s impressive series of consecutive annual revenue growth dating back to 2009. In 2015 alone, PolicyStat added more than 125 new customers and more than 300 facilities around the United States.
The strength and scalability of the product was never more evident than in 2015 as healthcare organizations across the spectrum in terms of size, complexity, and service line brought in the PolicyStat solution to address their quality, compliance, or risk needs. The company welcomed new healthcare customers during 2015 as diverse as major health systems, ambulatory surgery centers, state and county health departments, assisted living and adult day care facilities, among others.
“What we find most interesting about our results in 2015 is that organizations both large and small continue to be interested in our solution largely as a result of our scalability, cost effective pricing model and word of mouth. Eighteen percent of the new deals that were signed last year were a direct result of referrals from our customers. Our customer retention rate remains over 99%, which by industry averages well exceeds the widely accepted industry average of 78% for organizations that have pure Software-as-a-Service offerings, “said Rob Vaughan, Executive Vice President for PolicyStat.
2015 was a good year for all PolicyStat stakeholders. While PolicyStat’s 2015 financial operating results were solid in all respects with strong growth in revenue, bookings, cash, and total assets, the company was also proud to be named to the Inc. 5000 list of fastest growing companies in the United States. PolicyStat was also especially proud to be named one of the 2015 Best Places to Work in Indiana, an award largely based on employee surveys. PolicyStat’s commitment to its community also played prominently in the company’s success for the year with PolicyStat team members supporting multiple philanthropic organizations in our area including A Gift of Water, Timmy Global Health, the Indiana Blood Center, the Hamilton County Harvest Food Bank, and many others on an individual team member basis.
“Our relentless focus on customer success has served PolicyStat very well; we measure our success by the success of our customers. We are on a mission to help revolutionize healthcare by providing cloud-based solutions that help organizations manage and disseminate vital information. The broad adoption of our solution throughout the healthcare market illustrates not only the need for PolicyStat’s solution in this ever-changing regulatory environment, but also the business value we are delivering to organizations large and small, “said Steven Ehrlich, President of PolicyStat.
About PolicyStat LLC:
PolicyStat LLC is an Indiana-based corporation providing an industry-leading policy lifecycle management solution for healthcare organizations. The PolicyStat solution increases productivity while simultaneously enhancing quality and compliance management. PolicyStat’s Software-as-a-Service (SaaS) offering enables short customer deployment timelines by both minimizing IT staff involvement and providing vital implementation services. For more information please visit our website at: www.policystat.com.