Based on its recent analysis of the remote patient monitoring market, Frost & Sullivan recognizes Strategic Healthcare Programs (SHP), L.L.C. with the 2009 North American Frost & Sullivan Growth Enabling Technology Award for continuing to provide superior technology toward finely identified market needs. There is a desperate demand in healthcare, especially in emerging spaces such as home healthcare, for real-time data that helps assess efficiency and cost savings. SHP was early to recognize key needs in the remote patient monitoring market and pioneered a web-based, real-time performance data service aimed at improving profit margins and patient outcomes for home healthcare agencies and hospices.
"Despite the billion dollar market potential of remote monitoring segments such as home healthcare, the market remains stifled," says Frost & Sullivan Industry Analyst Zachary Bujnoch. "One major issue is that these services utilized by home healthcare agencies and hospice facilities continue to be in a desperate need of validation."
While these systems have an inherent potential for cost savings, implementation is the hinging point of success or failure. A careful monitoring of efficiency, true cost savings, and overall effective integration of these systems into a healthcare provider's setup is essential for the success of these highly customizable and diverse remote monitoring services. Over the past ten years through a constant drive for improvement and consistent attention to its clients' needs, SHP has developed a product unique to this industry, capable of fulfilling the essential need for system validation and cost savings analysis. The data show comparisons between telemonitored and non-telemonitored patients.
SHP's technology integrates with over 30 different types of software vendors including healthcare majors such as Philips, Honeywell HomMed, McKesson, and Viterion. Two components that really make this technology unique and elegant are its real-time capability and ease of customization. The real-time capability and the customized data queries and benchmarks keep information relevant.
"In the end, all of these components seem to be focused around one common goal, optimizing the business and clinical performance for the home healthcare industry, and despite the daunting undertaking this goal represents, SHP seems to be well on its way toward this task," concludes Bujnoch.
For providing demand-oriented superior technology that has penetrated a mature and highly competitive healthcare market, SHP is the worthy recipient of the 2009 North American Award for Growth Enabling Technology for remote patient monitoring. Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in new product development and launch within its industry. The recipient company has shown innovation by launching a broad line of emerging products or technologies.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Strategic Healthcare Programs, L.L.C
Strategic Healthcare Programs (SHP) is an award-winning innovator in real-time decision support and benchmarking tools. SHP sends its clients actionable information that immediately impacts profit margins and outcome scores, and provides new-age benchmarking services. SHP uses best-of-breed technology that enables instant deployment of continuous enhancements and automated data sweeps from client software applications. SHP is the undisputed industry innovator having pioneered real-time benchmarks, data interfaces, risk modeling, on-demand reporting, pushed alerts, integrated patient satisfaction, clinician scorecards, gross profit comparisons for Home Health and Hospice, and more. SHP is the industry's only one-stop source for data, spanning all business lines. Please visit SHPdata.com for more information.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents.