Significant revenue growth, expanded offerings and executive additions position CTG’s healthcare business for continued growth in 2012 and beyond
LAS VEGAS, HIMSS Conference, Booth # 2070, February 21, 2012 – CTG Health Solutions, a leading healthcare information technology (IT) consulting firm and a business unit of CTG (NASDAQ: CTGX), an IT solutions and services company, announced today that 2011 was a banner year for the organization, with major new business wins and revenue growth, key executive additions, and the expansion of several consulting offerings to help clients navigate the mandates and opportunities of health reform.
“The healthcare industry is undergoing an unprecedented transformation. Recent initiatives around meaningful use, ICD-10 implementation, shifting reimbursement models, population health management and health reform are just the tip of the iceberg,” says Michael Colson, senior vice president, IT Solutions, CTG. “The traditional provider/payer dichotomy is fundamentally changing. Providers are becoming more ‘risk aware’ to better evaluate the level of risk in new reimbursement models, while payers are becoming more ‘care aware,’ playing a larger role in patient outcomes. At CTG, we understand that this evolution benefits the population as a whole and are delivering services that enable providers and payers to meet the challenges of the new mandates, standards and incentives that are reshaping healthcare delivery while enabling stakeholders to capture, harness and utilize data.”
The continued expansion of CTG’s healthcare business across healthcare provider, payer, and life sciences markets is reflected in significant revenue growth in 2011 highlighted by major new business wins within its provider and payer practices. CTG’s healthcare revenue in 2011 was $117 million, a 32% increase over 2010 and accounted for 30% of the company’s total 2011 revenue.
During the past year, CTG Health Solutions experienced growing client demand for its consulting and advisory services in a variety of areas, including, but not limited to:
- EMR implementation/optimization and enhancing clinical, operational and financial outcomes
- Application management and legacy system support
- Population health management, accountable care organizations (ACOs) and other emerging models of care
- ICD-10 implementation and revenue cycle assessment and management
- Analytics and business intelligence to improve care coordination and patient outcomes
James R. Boldt, chairman and chief executive officer of CTG comments, “As an established industry leader in healthcare IT with highly respected EMR experience and expertise and proprietary data analytics solutions, there are multiple growth opportunities for our healthcare business as current and new clients look to us for additional help in meeting the onslaught of challenges and changes that are likely to continue for years to come. We expanded our already strong offerings and senior level management and consulting staff in 2011, which enabled us to help position our clients for ongoing success and market leadership in high-demand areas.”
The company added or promoted the following executives and subject matter experts in 2011:
- Ted Reynolds, vice president, CTG Health Solutions – Reynolds was promoted in March 2011 and is applying his more than 35 years of consulting and executive experience in healthcare IT to lead CTG’s practices that serve both the provider and payer markets. He is known in the healthcare industry for leading clinical transformations at several of the largest U.S. healthcare organizations, as an expert in many vendor packages, and as one of the industry’s foremost authorities on Epic.
- Stacey Empson, JD, MHA, managing director, Health Provider Services – Empson joined CTG in July 2011 as a seasoned healthcare executive with more than 20 years of leadership and business consulting experience in health information technology, law and policy. She is responsible for overseeing all of CTG’s provider consulting services, including advisory, implementation, advanced technology and strategic sourcing solutions. Empson personally provides strategic insight to health systems, hospitals, physicians, and healthcare vendors and associations around such topics as meaningful use, clinical registries, system selections, governance, and business and strategic planning.
- Mike Garzone, solutions director, Advanced Technology Services – Garzone joined the company in December 2011. He is responsible for coordinating the development of comprehensive advanced technology solutions that address strategic, financial, operational, clinical and health reform objectives for CTG clients. His technical areas of expertise include integration and interoperability, infrastructure, health information exchange, business intelligence, data warehousing, report development, data center infrastructure, business and care continuity, security, cloud computing, virtualized desktop and mobility.
- John Pitsikoulis, RHIA, solutions director, ICD-10 – Pitsikoulis joined CTG in June 2011 to drive the company’s consulting service offerings for ICD-10 transitions. He brings more than 25 years of health information management, coding, compliance and hospital revenue cycle consulting experience, including driving RAC engagements, hospital performance improvement initiatives, case mix index analysis, clinical documentation improvement, coding quality infrastructures implementation and charge capture engagements.
- Carol Cassell, client services executive, Accountable Care and Analytics – Cassell has been with CTG since March 2011 and is responsible for furthering the company’s extensive focus on accountable care and analytics. Cassell is a results-oriented healthcare leader who understands both health system delivery and health benefit management, with financial knowledge from both a provider and payer perspective. She supports emerging value-based health models with collaboration, transparency and accountability.
- Dave McDowell, managing director, CTG Health Payer Services – McDowell was promoted in August 2011 and has more than 30 years of experience in the health insurance industry, including in-depth knowledge of all the major vendor systems in the payer space and every aspect of payer operations, as well as the offerings of consulting firms selling to large health insurers. His leadership of the health insurance practice puts CTG in an excellent position to increase penetration of the payer market.
About CTG Health Solutions
CTG Health Solutions, the healthcare division of CTG, is a leading information technology consulting firm dedicated solely to helping healthcare institutions, physician practices, payers, and related organizations achieve clinical and financial goals through effective technology and business solutions. Over the last 25 years, CTG Health Solutions has provided health care IT, and operational and strategic consulting support to over 600 healthcare organizations. CTG (NASDAQ: CTGX) is a publicly owned IT services and solutions company that was founded in 1966, has 3,700 employees, and generated revenue of $396.3 million in 2011. More information is available on the Web at www.ctghs.com.