Without the AIR software to automate our Asset Investment Recovery program, we would not be able to achieve our targeted capital savings of $1.3M per year for medical equipment reuse and sales. The software will also provide the foundation to expand the system to handle furniture, computer equipment, or supplies, which will bring even greater savings.
Waltham, MA and Baltimore, MD (PRWEB) June 6, 2009
St. Croix Systems, an innovative provider of Enterprise Asset Management (EAM) solutions, today announced details supporting its increased momentum during the first half of 2009. Continuing on its path of accelerated growth from the year prior, the company has already secured more than 16 new customers, completed 13 implementations, and in the first quarter achieved its fifth consecutive growth quarter and second consecutive record quarter. In support of its integration and expansion strategy, the company also recently announced an integration partnership with AeroScout (see release 'St. Croix Systems and AeroScout Integrate Enterprise Asset Management (EAM) and Real Time Location Systems (RTLS) for Healthcare,' April 6, 2009) to enable joint clients to manage medical devices and equipment more efficiently. In addition, the company is planning a third quarter release of its award-winning Asset Investment Recovery (AIR) application, which has been in beta with Aurora Health Care (see release 'St. Croix Systems' Customer Recognized for Innovative Use of AIR and Service Center Manager for Medical Equipment Asset Management,' June 6, 2009).
"Our philosophy from the beginning has been simple: deliver comprehensive enterprise asset management solutions to healthcare providers in an easy-to-use, intuitive way. Our continued focus and dedication to this philosophy along with our commitment to collaborative development with customers has resulted in a significant increase in customer adoption and annualized growth of over 60% in the last twelve months," said Hank Goddard, CEO, St. Croix Systems. "Building upon our legacy of creating award winning products and our continued strong company performance, we are well positioned to out pace our competitors and provide the type of strategic enterprise solutions that leading hospitals and medical facilities are deploying."
FIVE OUT OF THE TOP SIX U.S. HOSPITALS STANDARDIZED ON SOLUTIONS FROM ST. CROIX SYSTEMS
To its impressive client list, St. Croix Systems added New York-Presbyterian Hospital, Norton Healthcare, Inc., Riverside Health System, SUNY Upstate Medical University Hospital, Tucson Medical Center, and Mount Auburn Hospital in the first half of 2009. These institutions, which range from a single 500-bed medical facility to an expansive 2,244-bed IDN, all face the same need to cost effectively manage the lifecycle of an asset, while ensuring the highest possible level of patient care and safety.
With the current economic environment and change in the political landscape, there is mounting pressure on hospitals to reduce operational expenses and capital spending. However, the caveat is the reductions cannot compromise care levels. Leading healthcare providers have started to realize significant savings associated with a well-constructed EAM program. By increasing asset utilization, buying only needed assets, streamlining the logistics and maintenance of assets, and maximizing the return on assets that have reached the end of their useful lives, hospitals can recapture some of the tens of billions of dollars that are spent every year on purchasing and maintaining assets.
The new implementations are on the new 5.0 platform, an integrated suite of .NET applications that can be accessed from anywhere via a web browser and used by a variety of departments including clinical engineering, facilities, central supply and materials management. In addition, the implementations include a variety of interfaces, such as RFID, ERP and ADT, and integration with ECRI Institute's Alerts TrackerTM and UMDNSTM.
ROBUST SUITE OF SOLUTIONS OFFERS RAPID ROI
St. Croix Systems offers the industry's only enterprise-class EAM system built for the specific needs of hospitals and the organizations that support them. With its rapid implementation - literally in a matter of weeks - the solutions allow customers to easily manage and track clinical, facilities and IT assets from purchasing decisions through usage to disposition.
The company's suite of Web products, which can be hosted at the client site or delivered as a software service (SaaS), serves up real-time data analysis from across the enterprise. The solutions provide functionality to manage work orders, resource scheduling, inventory management, contracts management, service and dispatch; track safety issues and incidents, hazard, alert and recall notices; and provide hospital and regulatory reporting, and capital planning capabilities that enable real-time decision making based on precise data and asset intelligence. The proprietary database provides multiple levels of security and flexibility so that anyone from clinical managers, to supply chain directors, to CFOs can easily access, readily available information about the organization's assets. Such total lifecycle management offers fast return on investment (ROI) through operational cost savings and preservation of capital. For example:
- A 13-hospital system in Wisconsin with 300 total sites saved $3.4 million in the first year (and expects to save an additional $8 million over the next six years) by centralizing asset management on the St. Croix Service Center Manager product. Since deployment, caregiver satisfaction is at record highs.
- A nine-hospital system in Minnesota moved from out-sourced equipment logistics and maintenance to an in-house model using St. Croix's Asset Manager and Logistics Manager, realizing over $1 million annually in equipment management costs savings.
- A 12-hospital system in Ohio with over 100 sites and 85,000 medical equipment assets saves $4 million annually using St. Croix's third-party contract and rental service management modules.
According to Al Gresch, corporate manager, clinical engineering, Aurora Health Care, Milwaukee, WI, "Without the AIR software to automate our Asset Investment Recovery program, we would not be able to achieve our targeted capital savings of $1.3M per year for medical equipment reuse and sales. The software will also provide the foundation to expand the system to handle furniture, computer equipment, or supplies, which will bring even greater savings."
St. Croix Systems complete suite of solutions includes:
- Asset Enterprise™ with MyVue™: Enterprise-class CMMS and EAM platform with customizable dashboards
- Service Center Manager™: Enterprise service dispatch and escalation
- Insight™: Dynamic OLAP reporting and dash-boarding
- Logistics Manager™: Mobile asset location, delivery and utilization tracking
- Safety Manager™: Safety alerts and closed-loop incident management
- Asset Investment Recovery (AIR)™: Automation of asset disposition through internal and external channels
- Asset Logistics Interface™: RFID and Barcode interface
About St. Croix Systems:
Founded in 1993, St. Croix Systems is a leader in Enterprise Asset Management solutions that allow healthcare providers to manage the lifecycle of capital assets across the enterprise. With active control of the planning, acquisition, tracking, maintenance, safety, and retirement of these assets, customers can improve operation and capital performance, and ensure a safe and quality environment care. Healthcare customers across the country and around the globe have deployed St. Croix Systems' highly scalable technology. For more information, please visit: http://www.stcroixsystems.com.