Streamline Health® Hires David Driscoll As Senior Vice President, Chief Revenue Officer
Former Conifer and Avizia Sales Leader Brings Years of Rapid Sales Growth Experience to STRM
Company Continues Investment in Sales Growth
Atlanta, Georgia – February 19, 2019 – Streamline Health Solutions, Inc. (NASDAQ: STRM), provider of integrated solutions, technology-enabled services and analytics supporting revenue cycle optimization for healthcare enterprises, today announced the hiring of David Driscoll as Chief Revenue Officer for the Company, effective February 18, 2019. Mr. Driscoll will report directly to David Sides, President and Chief Executive Officer, Streamline Health.
As Chief Revenue Officer, Mr. Driscoll will use his extensive knowledge and experience in the healthcare information technology space to lead all sales and business development for the Company, recruiting, mentoring and motivating talent to accelerate the pace of sales, especially sales of eValuator™, the Company’s cloud-based, automated pre-bill coding analysis technology.
Mr. Driscoll was most recently Chief Growth Officer, Senior Vice President, Provider Solutions at American Well (formerly Avizia and Carena). From 2017 to present, Mr. Driscoll drove business strategy, product direction and messaging to help position Avizia as a leading enterprise telehealth solution. Under his leadership, the company increased its annual qualified pipeline by over $50 million resulting in approximately 30 percent revenue growth. Avizia was acquired by American Well in July 2018.
Prior to American Well, Mr. Driscoll was Vice President of Sales and Business Development for the Value-Based Care Division of Conifer Health from 2013 to 2016. While at Conifer, Mr. Driscoll helped drive revenue growth of nearly 35 percent each year and worked closely with leading health systems on implementing value-based risked contracts with payors and employers.
“We are pleased to have as experienced and successful a sales leader as David Driscoll join our company to drive our top line in fiscal 2019 and beyond. David will have a significant influence over our Company’s sales focus, including moving up the customer hierarchy and selling our solutions to the
C-Suite. This is especially critical for selling eValuator,” stated Mr. Sides.
“I know the Revenue Cycle Management category very well and have watched Streamline Health center its development and sales efforts in the middle of the revenue cycle for healthcare providers throughout the country,” Mr. Driscoll stated. “I think the eValuator technology is a true game-changer for hospitals and large Integrated Delivery Networks (IDN), and I look forward to being a part of this exciting new chapter of growth.”
Mr. Driscoll graduated from Pennsylvania State University with a B.S. degree with High Distinction in Business Administration.
In connection with his employment, the Company intends to grant an equity award to Mr. Driscoll on the effective date of his employment, including 75,000 shares of restricted stock, which are expected to be granted outside of the Company’s Amended and Restated 2013 Stock Incentive Plan. The restricted stock will vest in three substantially equal annual installments over the first three years of his employment. The grants were approved by the Compensation Committee of the Board of Directors and were granted as an inducement material to Mr. Driscoll’s entering into employment with the Company in reliance on Nasdaq Listing Rule 5635(c)(4), which requires this public announcement.
Streamline Health Solutions, Inc. (NASDAQ: STRM) is a healthcare industry leader in capturing, aggregating, and translating enterprise data into knowledge – producing actionable insights that support revenue cycle optimization for healthcare enterprises. We deliver integrated solutions, technology-enabled services and analytics that empower providers to drive revenue integrity in a value-based world. We share a common calling and commitment to advance the quality of life and the quality of healthcare – for society, our clients, the communities they serve, and the individual patient. For more information, please visit our website at www.streamlinehealth.net.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995
Statements made by Streamline Health Solutions, Inc. that are not historical facts are forward-looking statements that are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from those reflected in the forward-looking statements included herein. Forward-looking statements contained in this press release include, without limitation, statements regarding the Company's growth opportunities and revenue growth strategy. These risks and uncertainties include, but are not limited to, the timing of contract negotiations and execution of contracts and the related timing of the revenue recognition related thereto, the potential cancellation of existing contracts or clients not completing projects included in the backlog, the impact of competitive solutions and pricing, solution demand and market acceptance, new solution development and enhancement of current solutions, key strategic alliances with vendors and channel partners that resell the Company's solutions, the ability of the Company to control costs, availability of solutions from third party vendors, the healthcare regulatory environment, potential changes in legislation, regulation and government funding affecting the healthcare industry, healthcare information systems budgets, availability of healthcare information systems trained personnel for implementation of new systems, as well as maintenance of legacy systems, fluctuations in operating results, effects of critical accounting policies and judgments, changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other similar entities, changes in economic, business and market conditions impacting the healthcare industry generally and the markets in which the Company operates and nationally, and the Company's ability to maintain compliance with the terms of its credit facilities, and other risks detailed from time to time in the Streamline Health Solutions, Inc. filings with the U. S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revision to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.
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