St. Croix Systems Achieves Record First Half Bookings and Revenues in 2010, Driven by Demand for Innovative Patient Support Services Applications

CMMS-Independent workflow applications allow hospitals to capture real savings in Asset Tracking and Logistics, Rental Management, Safety Management and Asset Disposition

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“St. Croix’s products give our customers the ability to demonstrate the value they deliver to health care organizations through substantial cost savings, improved patient throughput, safer environments and an overall higher level of care

Waltham, MA (PRWEB) June 25, 2010

St. Croix Systems, an innovative provider of Enterprise Asset Management (EAM) solutions for healthcare, today released details of its continued growth, with TTM bookings increasing more than 40% over the prior twelve-month period, setting yet another record for the company. Leading this growth has been the adoption of the company’s Asset Enterprise 5.2 platform and more importantly, positive industry response to its expanding patient support product suite. St. Croix has received more orders for its Logistics Manager product, which is used to control the flow of mobile assets; Safety Manager, which provides closed-loop incident and recall management automation; and AIR, which provides structure and automation to the asset disposition process.

“We are very proud of the results the St. Croix team has been able to deliver this year. Our first half results are on track with achieving our 2010 goal to exceed the record growth that the company experienced in 2009,” said Hank Goddard, CEO of St. Croix Systems. “It is a tribute to the quality of the clients that we work with and their input into our ongoing innovation. These lasting relationships have allowed us to continue to lead the market in the development of new applications that support a growing spectrum of patient support services departments. And to have our record growth driven by adoption of these new products is really exciting. It is confirmation of the growing need for clinical engineers to extend their capabilities beyond equipment maintenance and into supporting effective patient throughput, asset management and the hospital’s business objectives.”

In the first half of 2010, St. Croix had 15 new client wins and upgrades, most of which included switching from a competitive product and deploying multiple St. Croix applications and interfaces across multiple locations. Some examples of new clients added in the first quarter include Alexian Brothers, Baptist St. Anthony, Frederick Memorial, Humber River Regional and University of Missouri. The company completed 16 product implementations and maintenance and support renewals remained above 95%.

CMMS-INDEPENDENT APPLICATIONS CONTINUE TO DRIVE GROWTH

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. The full set of applications can run with St. Croix’s Asset Management platform as an integrated solution or interface with other CMMS and EAM applications. Growth in the first half of 2010 was fueled by demand for the company’s broader solutions, including:

Asset Tracking

St. Croix’s Logistics Manager (LM) allows hospitals to capture tangible value in their Central Equipment Distribution process. LM supports a change from a high-cost inventory standby process to a closed-loop Just-in-Time distribution model that saves the hospital money while improving patient throughput. LM delivers much of the value that hospitals are seeking from RFID solutions and can dramatically improve the ROI of these solutions once in place by providing all the tools to optimize your request-deliver-pickup-clean process. Tightening up the CED process ensures that rentals are minimized, your total asset and service spend are optimized and that you have a clear chain of custody for infection control issues.

Safety Management

Hospitals have long struggled to integrate safety incidents and recalls into one seamless management system. St. Croix’s Safety Manager (SM) does just that, capturing incidents and recalls, associating them with your database and providing a closed-loop resolution process that can answer key Joint Commission inquiries such as “how quickly were you able to respond to this May’s Baxter pump recall?” with a simple, single report. SM can also help if the process stalls, issuing appropriate automated escalations to ensure that key steps don’t fall through the cracks. In addition, SM includes customizable Safety Rounds for each department that automatically generate safety incidents or corrective work requests for any failed step in the checklist. This data allows your organization to track chronic issues and identify best practices for key safety issues.

Asset Investment Recovery (AIR)

Following nearly 12 months of development and beta testing in collaboration with Aurora Health Care, a not-for-profit health care system located in eastern Wisconsin and headquartered in Milwaukee, St. Croix Systems is seeing its award winning AIR equipment disposition product gain rapid acceptance in the first half of 2010.

AIR is a web-based solution used by health care systems to manage the end of an asset’s lifecycle for maximized capital returns on used assets. It centralizes, streamlines and automates the disposition of used medical equipment to maximize capital recovery at the end of the asset’s useful life. By automating the workflow, decision-making processes and approvals associated with asset disposition – transfer to another department or facility, selling on the open market, donation, scrapping for parts or disposal/recycling – health care facility managers can improve fiscal and supply management throughout the organization. Automated approval processes and internal and external store or auction capabilities, offer a clear audit trail that includes automated change of status and connection with Enterprise Resource Planning (ERP) and financial systems.

Service Center Manager (SCM)

“Patient support services has historically been underserved by the software industry.” said Goddard. “St. Croix’s products give our customers the ability to demonstrate the value they deliver to health care organizations through substantial cost savings, improved patient throughput, safer environments and an overall higher level of care. St. Croix will be announcing two new products at the end of 2010 that will further extend our lead in this market.”

ABOUT ST. CROIX SYSTEMS

Founded in 1993, St. Croix Systems builds easy-to-use yet powerful CMMS and EAM software solutions that give hospitals comprehensive control of every asset in their system from before the purchase decision to final disposition. Our products, designed for use by a single department or multi-hospital system, provide visibility into the internal workings of the hospital to maintain control of equipment and generate data about each asset’s location, condition, maintenance history, lifecycle status, safety/regulatory compliance and costs. 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.

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