10/8/2007
Hospital Overcrowding Spurs Historic Growth for TeleTracking
Patient Flow Software Leader Posts Best Six Months in its History
Newly-named Inc. 5000 Company Among Fastest Growing Private Tech Firms in the Nation
NAPLES, Fla.--(BUSINESS WIRE)--TeleTracking Technologies, the leading producer of software that alleviates hospital overcrowding, announced today that the six-month period ending June 30 was the best in the company’s history, with a 35% jump in revenue, a 72% increase in units sold to new customers, and 33% more contracts compared to the same period last year.
TeleTracking CEO Anthony Sanzo told more than 200 clients gathered here for a semi-annual idea exchange conference that the firm was named one of the fastest growing private companies in the nation by INC magazine and ranked #1 in its vendor category by market intelligence researcher KLAS, the leading healthcare vendor performance monitor.
Sanzo said the growth was tied to increased awareness that in-patient flow problems are the primary cause of the emergency room overcrowding crisis, and referrals from TeleTracking’s growing client base.
The record-breaking mid-year report follows a five-year growth trend during which the international market leader averaged 160 installations per year and expanded its client base to more than 700 hospitals and health systems, including many of America’s top-ranked institutions.
That performance resulted in significant industry recognition this year. Inc. Magazine listed TeleTracking on its first-ever "Inc. 5000" list of fastest growing private American companies, which the magazine said are "the backbone of the U.S. economy." TeleTracking was the only firm in its specific category to make the list.
Healthcare Informatics Magazine called TeleTracking a health industry "Up and Comer" in naming the firm, for the third straight year, to its "HCI 100" list of pre-eminent healthcare technology vendors. For the fourth year in a row, the Pittsburgh Technology Council selected TeleTracking over thousands of other companies for its Tech 50 list of top regional tech performers. It’s been on the Pittsburgh Business Times list of 100 fastest growing privately-owned local companies five years in a row.
Market researcher KLAS said TeleTracking ranked No. 1 overall among competitors in a survey of patient flow automation clients. Ninety-eight percent of current users would recommend TeleTracking to a friend or peer, according to KLAS. Other top survey scores for TeleTracking included meeting deadlines, on-time implementation, fair and complete contracts, keeping promises and meeting expectations, product performance satisfaction, highest quality of custom work, proactive service, timely enhancement releases, and the quality of training, implementation, budget adherence, staff and support.
About TeleTracking
TeleTracking Technologies is the world leader in improving patient flow through computer automation. By providing prompts, alerts and real-time, actionable feedback to managers, its products have been proven to dramatically reduce patient wait times, decrease emergency department overcrowding and ambulance diversions so quality care can be delivered in a timely manner. The privately-held, Pittsburgh-based company has implemented over 1400 solutions at more than 700 acute care hospitals in the U.S., Canada and the United Kingdom.