Inpatient Management, Inc. Announces 51% Annualized Increase in Revenue
IMI Hospital Clients Experience Net ROI of 4:1 for Hospitalist Programs
ST. LOUIS (Dec. 3, 2009) – Inpatient Management, Inc. (IMI) announced significant year-over-year performance results for the nine months ending Sept. 30, 2009, for both the overall company and its hospitalist programs in 10 states. IMI is a national provider of comprehensive hospitalist, inpatient management and consulting services.
In addition to the 51% year-over-year increase in revenue, IMI achieved complete operational status with three of the largest hospital medicine programs in their history, including a strategic partnership where IMI designs, staffs, launches, manages and reports on the hospital medicine program, and the client hospital employs the staff and retains ownership of the program.
Among other measures for the company was a 98% fill rate for provider openings and the addition of two new corporate executive positions, Vice President of Business Development and Vice President of Decision Support, Clinical Management, filled by David Cornett and Brenda Hopkins, respectively.
“We are deeply gratified by the growth for our company in 2009,” said Kirk Mathews, CEO and Co-Founder of IMI, “but we are more excited by the positive results our client hospitals have achieved in quality of care and financial performance.” Among the increased performance results IMI clients have reported are:
· Program net return on investment of 4:1
· Cost reductions per case ranging from $1,000 to $1,700
· Patient satisfaction scores of 95%+
· Reductions in Average Length of Stay (ALOS) of 20% - 30%
· Physician satisfaction scores exceeding the 90th percentile
· 50% improvement in unexpected mortality rates compared to pre-Hospitalist program rates
· Overall IMI patient readmission rates of less than 10%
· Positive bottom line impacts of $4,000,000 to $6,000,000 per year
Terri Orf, IMI President, COO and Co-Founder, noted, “These results reflect the dedication of the IMI clinical and administrative staff to superior performance for all of our hospital clients.” She continued, “We have multiple initiatives underway to further reduce costs and enhance performance.” Among those new efforts are a system-wide Physician Leadership Council in place now and the scheduled launch in the first quarter of 2010 of a new integrated practice-management technology platform.
About Inpatient Management, Inc.
Inpatient Management, Inc. (IMI), headquartered in St. Louis, Mo., is a national provider of comprehensive hospitalist programs and consulting services. Independently owned and operated since 1997, IMI serves clients around the country including Missouri, Indiana, Illinois, Tennessee, Michigan, Nebraska, Kansas, North Carolina, Alabama and Washington. For more information about IMI, visit www.inpatient.com.
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