PORTLAND, Ore., Jan. 31 /PRNewswire/ -- At its annual meeting, Kryptiq Corporation, the leader in connectivity solutions for healthcare, announced that its customer base had more than doubled in 2005. The sale of Kryptiq software to both provider and health plan customers, now over 750 organizations in 48 states and Canada, drove growth of company revenue by 125 percent over 2004. The growth in total customers and revenue was attributed to increased demand for connectivity solutions, strong sales by reseller GE Healthcare, which included Kryptiq provider products in nearly all sales of GE Centricity(R) Physician Office EMR, and sales of Guardian(TM) Contract Manager to health plan customers.
"Providers, patients, health plans, and pharmacies have realized the value of being connected," said Luis Machuca, president and CEO of Kryptiq Corp. "Increasingly, healthcare communities are looking for smart and proven solutions that facilitate proactive healthcare and benefit patients with measurable improvements in the quality of care."
The Need for a Healthcare-Specific Contract Management Solution Fulfilled
In 2005, sales to health plan organizations increased by more than 175 percent, largely fueled by purchases of Guardian Contract Manager, the first contract management system designed to meet the specific needs of healthcare payers. Kryptiq's Guardian customer base now includes such industry leaders as BlueCross BlueShield of Minnesota, Northwest Permanente, and Providence Health Plans.
"Over 85 percent of all health plans' costs are governed by provider contracts. Without Guardian, health plans lack a system that successfully manages these costs," said Malcolm Costello, vice president of marketing for Kryptiq. "Today, Guardian gives health plans the contract visibility and mobility they have lacked, reducing their risks, speeding up the contracting process, and increasing the effectiveness of their network management."
Innovation Yields Positive Impact on Patient Care Quality, Safety and Efficiency
In 2005, Kryptiq's customer base grew to include more than 720 provider organizations in the US and Canada. Significant 2005 deals with new and existing customers included Wake Forest University Baptist Medical Center in North Carolina, Melbourne Internal Medicine Associates in Florida, Austin Diagnostic Clinic in Texas, and Eastern Maine Healthcare in Maine. These organizations are using Kryptiq's solutions to address key healthcare challenges including improving co-ordination of care between providers, giving patients secure online access to their medical records, and driving timely and appropriate interventions in support of chronic care management.
Channel sales also significantly contributed to the increase in Kryptiq's 2005 revenue. GE Healthcare, a reseller of Kryptiq's provider solutions, increased its sales of Kryptiq solutions by more than 100 percent in 2005. In recognition of the value of Kryptiq solutions by GE customers, Kryptiq received the Best Innovation Award of 2005 from GE Healthcare Centricity Users Group (CHUG) for the positive impact of its ClinicalMessenger(TM), its integrated secure messaging application, on patient care quality, safety, and efficiency.
About Kryptiq Corporation
Kryptiq is the leading provider of interoperability and workflow connectivity solutions for healthcare. Kryptiq streamlines healthcare communications among patients, providers, pharmacies and payers with secure messaging, electronic prescribing, disease management, and contract management technologies. By integrating these solutions with existing systems and applications, Kryptiq enables the trusted transport of health information where and when it is needed. Kryptiq's fast growing customer base includes many of the nations top 100 integrated health networks, spans 48 states plus Washington, D.C., and includes well-known providers and payers such as Providence Health System, Capital Region Healthcare, MeritCare Health System, Eastern Maine Healthcare, BlueCross and BlueShield of Minnesota, and Northwest Permanente. For more information on the company, visit www.kryptiq.com.
Legal Notice: All rights reserved. Kryptiq is either a trademark or registered trademark and the Kryptiq logo is a service mark of Kryptiq Corp. Other product or service names mentioned herein are the trademarks of their respective owners.
For more information, press only: Lisa MacKenzie MacKenzie Marketing Group lisam@mackenzie-marketing.com 503-225-0725
Kryptiq CorporationCONTACT: Lisa MacKenzie of MacKenzie Marketing Group, +1-503-225-0725, orlisam@mackenzie-marketing.com, for Kryptiq Corporation
Web site: http://www.kryptiq.com/
