TRANSCEND SERVICES, INC. (NASDAQ: TRCR), a leading provider of clinical documentation solutions to the U.S. healthcare market, today announced that it has entered into a new agreement with Multimodal Technologies, Inc. (“M*Modal”) under which M*Modal will continue to provide Speech Understanding technology to Transcend.
The new agreement, which amends a 2006 agreement, has an initial term ending on December 31, 2012, followed by four one year renewal terms through December 31, 2016, unless Transcend (at its sole option) elects not to renew for any such one-year renewal term. After the fourth renewal term, the agreement automatically renews for successive one year terms unless terminated by either party with proper notice. Pricing remains unchanged based on current volume levels.
“Since we entered into our partnership in 2004, M*Modal’s technology has been integrated into our clinical documentation workflow platform, which has allowed us to dramatically improve the productivity of our medical transcriptionists, improve turnaround times for our customers and reduce our cost per document,” stated Larry Gerdes, Transcend’s Chief Executive Officer. “With our new Encore
clinical documentation platform, customers with in-house transcription departments can now take advantage of M*Modal’s Speech Understanding technology and our workflow expertise to drive the same types of improvements at their hospitals.”
“Transcend shares our view that narrative content will continue to be a crucial component of medical records,” said Michael Finke, M*Modal’s Chief Executive Officer. “We are pleased that this new agreement expands Transcend’s strong documentation portfolio to include real-time speech recognition solutions, which support the growing number of physicians who want the option to create and self-complete their own narrative documentation.”
About Transcend Services, Inc.
Transcend is a leading provider of clinical documentation solutions for healthcare organizations. Our high-quality transcription services - along with our physician self-edit and template solutions, data extraction and reporting tools - provide critical data needed to document patient encounters and help drive clinical decision making. We provide our clients with exceptional quality, turnaround time and service so that they can focus on what matters most - their patients. For more information, visit
M*Modal, a leader in advanced speech and natural language understanding technology, transforms narrative medical documentation into structured, encoded information to create meaningful, valuable clinical intelligence that can be shared, analyzed, and used to inform collaborative care. More than 800 healthcare organizations nationwide utilize M*Modal’s solutions to re-define the role of clinical narrative in improving and promoting quality of care, clinical efficiency, financial performance, and EHR adoption. For more information, please visit
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