7 Medical On-demand PACS, Teleradiology, and EHR Growth Strong Despite Tough Economic Year
On-demand healthcare service provider adds seven new contracts in Q4 and records 38% revenue growth for FY2009
MINNEAPOLIS—January 18 , 2010—7 Medical Systems™, LLC, a leader in on-demand picture archiving and communication system (PACS), teleradiology and electronic medical record (EMR/EHR) solutions for healthcare, today announced the signing of seven new contracts for the quarter ended December 31, 2009, which contributed to total revenue growth of 38 percent overall for fiscal year 2009. In addition to new sites added in Minnesota, the company introduced its on-demand PACS, teleradiology and EMR services into three new states including Georgia, Missouri, and Tennessee.
Four of the new customers subscribed to the 7i Imaging-on-Demand™ Suite for RIS and PACS, while three contracted for the company’s 7i Teleradiology-on-Demand™ Suite. In addition, 7 Medical inked strategic service agreements with two EMR software vendors to provide EMR hosting. With these cloud computing PaaS agreements, 7 Medical enables EMR vendors to offer their EMRs to hospitals and clinics on a software-as-a-service (SaaS) model for a monthly service fee.
“We are pleased to report continued demand for our RIS/PACs, teleradiology and EMR services despite economic conditions,” said Jason Studsrud, CEO of 7 Medical Systems. “In these tough times, the on-demand business model provides an immediate ROI and compelling total cost of ownership (TCO) that is a viable alternative to capital-intensive models. Anything that speeds technology adoption, automation and efficiency while meeting the requirements of ARRA and the HITECH Acts makes business sense now. We are encouraged by customer confidence in our business model and technology solutions.
ABOUT 7 MEDICAL SYSTEMS, LLC
7 Medical Systems™, LLC (www.7medical.com) is a leading provider of cloud-based digital imaging, electronic medical records and revenue cycle management solutions for healthcare. The company delivers reliable, affordable cloud computing-based solutions to critical access hospitals, imaging centers, radiology groups and ambulatory clinics. Rather than investing capital to own and manage hardware and software in-house, healthcare facilities outsource these critical functions to 7 Medical. They trade in hefty capital expenses for more affordable monthly usage fees—paying only for what they use. 7 Medical’s clinical project managers enable facilities to efficiently automate workflows and integrate disparate systems to ensure successful integration, implementation and training. On-demand services are available anytime, anywhere, with 24/7 service and support and built-in disaster recovery, from a Type II SAS 70 certified and HIPAA-compliant data center. 7 Medical is headquartered in Minneapolis, Minnesota, and has a wholly-owned subsidiary in Florianopolis, Brazil.
Loan D. Gordon
7 Medical Systems, LLC