HTP Signs More than $2 Million in New Contracts in Quarter 1 2006
Overall revenue increases by 14 percent over first quarter 2005.
Columbus, OH (PRWEB) May 10, 2006
HTP, Inc., a leading developer of software for the healthcare industry, signed four new contracts totaling more than $2 million for its HTP Sentinel™ software in the first quarter of 2006. Overall revenue increased 14 percent compared to the same quarter in 2005, and by the end of the quarter the company was processing a record 17 million electronic health transactions per month.
CEO Ray Shealy accredited the company's continued growth to its ability to support secure and efficient healthcare information exchange among a wide variety of healthcare organizations. "Through our work with healthcare providers, payers and Regional Health Information Organizations (RHIOs), HTP is uniquely positioned to grow in parallel with the national movement toward electronic processing of healthcare information," Shealy said. "The easy implementation and fast return on investment of HTP software are driving its rapid adoption."
Other highlights of the quarter included:
The January hiring of Vice President of Sales and Business Development Leigh Orlov, who brings more than 15 years of sales management experience in healthcare information technology to the critical role of building the company's sales and business development capabilities. Orlov's previous experience included senior executive positions with Execution Experts, Neoforma and PeopleSoft.
Also in January, TechColumbus honored HTP for the second consecutive year at its annual TopCAT awards. HTP MedRunner™ was recognized as the 2005 Outstanding Service of the Year for its role as the technology platform for in the nation's first successful RHIO.
The Ohio Department of Development announced in February that HTP had received Job Creation Tax Credits totaling $889,000 from the Ohio Tax Credit Authority. The credits are expected to help HTP expand its corporate headquarters by more than 100 positions during the next three years.
In March, Blair Baker joined HTP as Director of Implementation and Customer Care, overseeing software implementations, customer support and payer connectivity for the company. Baker brings more than 17 years of leadership experience within healthcare revenue cycle management and healthcare software delivery to HTP. He previously held positions with CareMedic Systems, Inc. and Omega Health Systems.
About HTP, Inc.
HTP develops software for the healthcare industry that improves efficiency, profitability and service quality for hospitals, insurance companies, physician groups, managed care organizations, third-party administrators and public sector health plans. The company's software also enables secure information exchange through Regional Health Information Organizations (RHIOs).
Based in Columbus, Ohio, HTP supports more than 170 customers, including 100 hospitals and 60 health plans, by translating and moving more than 17 million transactions per month. HTP technology powers the Utah Health Information Network (UHIN), the nation's first RHIO. A 2004 and 2005 Inc. 500 company, HTP and its executives have been recognized for leadership by the Ohio Third Frontier Project, The Deloitte Technology Fast 500, the Ernst & Young Entrepreneur of the Year program and the Columbus Technology Council. Notable HTP customers include Ohio Medicaid, Utah Health Information Network, OhioHealth, The Ohio State University Medical Centers and Mercy Health Partners of Cincinnati.
For more information on HTP or to learn how its software is transforming healthcare information exchange for providers, payers and RHIOs, call 614.885.1272 or go to www. htp-inc. com.
HTP Inc. Media/Industry Analyst Contact:
Cheryl Claypoole
Fahlgren Mortine Public Relations
Tel: 614.825.1721
Rob Krohn
HTP
Tel: 614/396.4537
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