ATLANTA, Feb. 5 /PRNewswire/ -- Ingenious Med, leaders in software and services for improving inpatient charge capture and practice management, announces record sales, product deployments, partnerships, and client expansions in 2007. At year end, Ingenious Med's 2007 sales increased by 81% over 2006. This increase in sales coupled with strong margins led to a dramatic increase in IM's overall profitability.
In the past year, Ingenious Med secured 38 new IM Practice Manager(TM) contracts representing a wide spectrum of clients such as large healthcare systems, national management companies, academic institutions, standard physician practices, and medical billing companies. New customers include groups such as: Kelsey-Seybold, University of Colorado, Asante Health System, Quincy Medical Center, St. Lukes Kansas City, Midstate Medical Center and Millennium Management Company.
Ingenious Med now has clientele in 39 states and is currently in use at over 500 healthcare facilities across the nation. Last year, the company's flagship product, IM Practice Manager(TM), captured and managed approximately $135 million in physician charges.
In addition to a 95% retention rate, the company experienced outstanding client expansion in 2007. Clients who expanded their user base with Ingenious Med include TeamHealth, Valley Baptist Medical Center, Cooley Dickinson Practice Associates, and TSG Resources, Inc.
"Our continued growth and retention over the past year are strong indicators of the quality and success of our services. Customers typically realize a $35,000 to $45,000 increase in net revenue per physician annually. That is an exceptional return on investment that easily equates to more than 1000-2000% for many clients," said Steven Liu, MD, CEO of Ingenious Med. "This has had a dramatic effect on new sales and referrals and has led to the expansion of our services into more than a dozen new specialties. Although we were originally developed for hospitalists, it has become clear that our application can benefit any physician rounding in an inpatient setting."
About Ingenious Med
Ingenious Med was founded in 1999 by a group of practicing hospitalist leaders and has a customer base comprising thousands of users in over 500 facilities across the United States. Ingenious Med's flagship product, IM Practice Manager is an Internet-based application that enables inpatient physicians to capture charges, improve their quality of care, and communicate digitally with their peers and administrators. In addition, the program aggregates management data separately from the hospital information system, so individual physician and total department performance can be accurately evaluated. Nationwide, they are the leader in inpatient practice management solutions, and have recently responded to increasing demand for their product- lines in specialty groups.
For more detailed information on Ingenious Med, visit http://www.ingeniousmed.com or call (404)-815-0862.
|SOURCE Ingenious Med|
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