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NEW TOOL IN CONNECTICUT FOR IMPROVING HOSPITAL’S SERVICES AND COMPETITIVE POSITION Stamford Hospital implements HealthShare One to analyze market share, clinical effectiveness, costs and charges across Connecticut hospitals ACTON, Mass., May 9, 2002 -- HealthShare Technology, Inc., a leading provider of healthcare analytical tools for improving business and clinical performance, announced that Stamford Hospital has signed a contract for HealthShare One™ comparative analysis software. By using HealthShare One, Stamford Hospital will enhance its ability to analyze market share and perform benchmarking studies on costs, charges and clinical services. This will in turn help the hospital gain a competitive advantage through performance management. “HealthShare One is a powerful analytical tool that helps Stamford Hospital better understand its performance compared to other Connecticut hospitals and prioritize its improvement efforts,” said Jim Tucker, project manager for clinical effectiveness at Stamford Hospital. “The software is user-friendly and offers us a way to make better business and financial decisions regarding market share and clinical effectiveness.” A key reason for Stamford Hospital’s purchase of the HealthShare One system was to use its analytic staff time more efficiently. HealthShare One can generate management reports in a fraction of the time it typically takes staff to produce similar reports. Stamford is looking at market share for various product lines and demographics of its patient population. For example, the organization wants to analyze in- and out-migration patterns of health services from Connecticut into New York. Stamford Hospital recently purchased the CHIME hospital data for the entire state of Connecticut. Using the CHIME data in combination with HealthShare One’s easy-to-use interactive software will allow Stamford Hospital to better evaluate market share, clinical effectiveness and costs. “HealthShare Technology is helping the Stamford Hospital turn data into action that will help executives and physicians improve clinical and business performance,” said Rick Siegrist, president and CEO of HealthShare Technology. “With HealthShare One, decision makers can more quickly and effectively focus on many of their most pressing business concerns such as reducing costs, capturing market share and improving clinical effectiveness.” Benefits of HealthShare One for Stamford Hospital HealthShare One utilizes publicly available state and national data to provide managers with the most in-depth analysis available on critical factors such as market share, utilization management, case volume, payer mix and demographics — all adjusted for severity - ensuring an apples-to-apples comparison. HealthShare One is fast, flexible and user-friendly. HealthShare One does not require additional hardware, information technology support or a full-time individual to operate. Healthcare executives often make decisions based on competitors’ charges, instead of actual costs. HealthShare One provides direct and total costs per patient using accounting algorithms that analyze comparative financial performance. This information is critical in understanding market and cost position for strategic planning. The Stamford Hospital is a not-for-profit, community teaching hospital serving Stamford and surrounding communities for more than 100 years. It has 305 inpatient beds in medicine, surgery, obstetrics/gynecology, psychiatry, and a medical and surgical intensive care unit. The hospital maintains an educational partnership with Columbia University College of Physicians and Surgeons for its teaching programs in internal medicine, family practice, psychiatry, obstetrics/gynecology and surgery. Part of the Stamford Health System, Stamford Hospital is also affiliated with New York-Presbyterian Health System. About HealthShare Technology, Inc. HealthShare Technology is a leading innovator in providing decision-making tools that help healthcare providers and payers reduce costs, enhance healthcare quality, and improve business and clinical performance. Organizations can quickly perform powerful analyses of their own internal data, as well as detailed competitor evaluations using State and Federal data to evaluate such areas as cost accounting/cost reduction, managed care negotiation, clinical improvement and marketing/planning. HealthShare offers its array of solutions over the Internet or as an in-house software package. Health plans and hospitals rely on HealthShare’s expertise to deliver a turnkey solution that reduces the cost and maintenance burden on in-house resources. Founded in 1992 by a team of recognized healthcare professionals, HealthShare Technology is based in Acton, Mass. You can visit HealthShare on the Web at www.healthshare.com. ### HealthShare One is a trademark of HealthShare Technology, Inc. |