HealthStream (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the healthcare industry, today announced that, in partnership with the Governor's Office, it is providing its COVID-19 Rapid Response Program training bundles, workforce platform—complete with a learning analytics dashboard, along with other workforce resources to the State of Tennessee to support the healthcare professionals who will be working in their newly created Alternate Healthcare Facilities. These solutions are being provided by HealthStream, free of charge for 90 days, as a contribution by the Company to the healthcare workforce who will staff the Alternate Healthcare Facilities in their valiant fight against the coronavirus pandemic.
The expansion of Tennessee's surge capacity for healthcare delivery by an additional 7,000 beds comes in the midst of a rising number of cases and deaths, worldwide, caused by the coronavirus pandemic. As volunteer healthcare professionals are mobilized to provide care in the new Alternate Healthcare Facilities, onboarding and training will become critical components in the speedy process to get them at patients' bedside—where they need and want to be. For that purpose, HealthStream has more experience than any organization, anywhere. Its platform is the nation's most adopted and relied upon workforce development platform in healthcare—where millions of course certificates, learning activities, and assessments have been completed—by millions of healthcare professionals.
Margaret Dolan, President and Chief Executive Officer, Launch Tennessee, is a member of the COVID-19 Unified Command Group, which has been tasked by Tennessee Governor Bill Lee to procure the necessary resources for the Alternate Healthcare Facilities, including staff. She commented, "Healthcare is always delivered by people for people—and HealthStream is generously stepping up with contributions of their COVID-19-related solutions to make this happen faster and easier in Tennessee's fight against the coronavirus pandemic. As a nationally recognized public company founded and rooted in Tennessee, HealthStream lives up to our state's reputation for being the Volunteer State."
HealthStream's COVID-19 Rapid Response Program training bundles are comprised of a curated collection of compliance, safety, clinical education, and coding courses that are most salient to the unique training needs currently facing healthcare professionals. Since the volunteer healthcare professionals are mobilizing from a variety of healthcare organizations from a wide range of practice areas—and some are returning from retirement, there is a need to rapidly onboard, train, and even cross-train in new areas. They will be able to easily self-enroll via HealthStream and rapidly fulfill their training requirements, which translates into more quickly providing hands-on patient care.
As a service to the nation's healthcare providers, HealthStream has offered to provide the COVID-19 Rapid Response Program training bundles to any state, U.S. hospital, health system, or healthcare organization, free of charge, for 90 days. Feedback from organizations whose healthcare staff is already using these courses has been universally positive. Over 160,000 courses have been assigned either by healthcare organizations or through self-enrollment, doubling in just one week.
"Speaking on behalf of HealthStream's nearly 900 employees," said Robert A. Frist Jr., Chief Executive Officer, HealthStream, "our vision has always been to improve the quality of healthcare by developing the people who deliver care and, therefore, we are honored to support Tennessee's Alternate Healthcare Facilities and stand ready to support other states and healthcare facilities along with the heroic healthcare professionals who will be delivering care during this most challenging time."
HealthStream (Nasdaq: HSTM) is dedicated to improving patient outcomes through the development of healthcare organizations' greatest asset: their people. Our unified suite of solutions is contracted by healthcare organizations across the U.S. for workforce development, training & learning management, talent management, credentialing, privileging, provider enrollment, performance assessment, and managing simulation-based education programs. Based in Nashville, Tennessee, HealthStream has additional offices in Jericho, New York; Boulder; Colorado; Denver, Colorado; San Diego, California; and Chicago, Illinois. For more information, visit http://www.healthstream.com or call 800-521-0574.
This press release includes certain forward-looking statements (statements other than solely with respect to historical fact) that involve risks and uncertainties regarding HealthStream. These statements are based upon management's beliefs, as well as assumptions made by and data currently available to management. This information has been, or in the future may be, included in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions that forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by the forward-looking statements, including the market price of the Company's common stock, the nature of other capital or investment opportunities presented to HealthStream, cash flow and liquidity considerations, and compliance with the Company's covenants under its credit agreement , as well as the result of risks referenced in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, filed on February 26, 2020, and in the Company's other filings with the Securities and Exchange Commission from time to time. Consequently, such forward-looking information should not be regarded as a representation or warranty or statement by the Company that such projections will be realized. Many of the factors that will determine the Company's future results are beyond the ability of the Company to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. The Company undertakes no obligation to update or revise any such forward-looking statements.
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