CARMEL, IN (May, 2015) – PolicyStat LLC, (www.policystat.com) the leading provider of policy life-cycle management solutions for healthcare organizations, has just closed the books on another record breaking quarter. Not only did Q1 2015 revenue grow by more than 50% when compared to 2014, PolicyStat solidly outperformed its budget across the board by soundly exceeding its targets for bookings, net income, and cash. All of this while adding key personnel in strategic positions to improve the overall experience of its customers.
“The quarter ending March 31, 2015, was an exceptional quarter for PolicyStat by almost every measure. We were hoping that our momentum from 2014 would carry over into 2015, and it certainly did. Our customer ranks swelled during the quarter with the addition of 48 new name accounts including close to 100 new facilities. This success clearly illustrates that our cloud-based offering is second to none in delivering real business value among all policy and procedure management vendors, “said Steven Ehrlich, President of PolicyStat. “This quarter continues our string of consecutive quarters with increasing revenue which began in 2009.”
The customers PolicyStat welcomed aboard during the quarter included hospitals, health systems, ambulatory surgery centers, health departments, and a variety of other types of facilities clearly illustrating the scalability of the company’s offering. PolicyStat’s customer base now reaches all corners of the United States, including several facilities in Alaska and Hawaii.
“We see most new customers signing with PolicyStat for an initial contract term of close to five years. This revenue stream allows us to have a high level of predictability with our financial model affording us visibility into the future so that we can plan our staffing needs accordingly and with some level of certainty, begin to map out our future hires,” commented Rob Vaughan, Vice President of Business Development.
ABOUT POLICYSTAT LLC:
PolicyStat LLC is an Indiana-based corporation providing an industry-leading policy life-cycle 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.