QuadraMed 2006 Sales Bookings Increase To $84 Million, Up 25 Percent Versus 2005
January 30 2007 - 4:21PM
Business Wire
QuadraMed� Corporation (Amex:QD) today announced that sales
bookings for the year ended December 31, 2006 totaled $84 million,
representing a 25 percent increase compared to the sales bookings
reported for the same 12-month period in 2005. �Again in 2006, our
industry-leading solutions were in high demand by healthcare
organizations nationwide,� said Keith B. Hagen, QuadraMed President
and CEO. �Our sales team responded by turning that demand into
solid sales bookings growth of over 25 percent. QuadraMed also
benefited from positive client references for our Access and
Identity Management, Care, Health Information and Revenue Cycle
Management solutions, and from our continued high KLAS ratings.
Looking forward, I�m convinced we have the right people and the
right solutions in place to achieve our long-term objectives.�
Sales bookings highlights for QuadraMed�s 2006 fiscal year include:
Sales bookings totaling $84 million compared to $67 million in
fiscal 2005 Two new enterprise Affinity� HIS (Hospital Information
System) sales A $3.4M contract with Inova Health System for Smart
Identity Management Solutions�, and a significant overall increase
in related Identity Management solutions bookings Strong bookings
for Quantim� Health Information Management (HIM) solutions A $20.5M
contract for HIM related products and services with the Department
of Veterans Affairs to provide an advanced solution for all 147 VA
hospitals nationwide Sales bookings include: Software license,
installation, one year of maintenance and hardware, if any, for all
perpetual software sales The total contract value of a term license
deal (typically one or three years), whether a renewal or new name
contract Full value of a service contract, whether a renewal or new
name contract Sales bookings exclude renewals of existing
maintenance agreements related to perpetual software licenses.
�While the 2007 revenue impact from 2006 sales bookings depends on
the type of solution or service, the length of implementation and
whether it is net new business or a renewal of existing business,
there is no doubt that this strong year-on-year sales increase is
further evidence of the success QuadraMed is enjoying,� said Mr.
Hagen. �We provide a wide range of solutions and services that
support the full Care-Based Revenue Cycle�. All of our solutions
and services are equally important to our Company�s success. And
this sales success is being powered by our broad portfolio of
industry-leading products, also highlighting the fact that
QuadraMed is much more than Affinity.� For information about all
QuadraMed products and services, visit www.quadramed.com or call
800-393-0278. About QuadraMed Corporation QuadraMed Corporation
advances the success of healthcare organizations through IT
solutions that leverage quality care into positive financial
outcomes. As evolving reimbursement scenarios challenge healthcare
organizations to leverage quality of care into payment, clients
committing to QuadraMed�s care-based solutions can realize market
leading financial performance. Using QuadraMed�s end-to-end
solutions to optimize the patient experience and leverage quality
of care into payment, our clients can receive the proper
reimbursement, in the shortest time, at the lowest administrative
cost. Behind our products and services is a staff of almost 600
professionals whose experience and dedication to service have
earned QuadraMed the trust and loyalty of customers at
approximately 2,000 healthcare provider facilities. To find out
more about QuadraMed, visit www.quadramed.com. Cautionary Statement
on Risks Associated with QuadraMed�s Forward-Looking Statements
This press release contains forward-looking statements, as defined
in Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, by QuadraMed that are subject to
risks and uncertainties. The words "believe," "expect,"
"anticipate," "intend," "plan," "estimate," "may," "should,"
"could," and similar expressions are intended to identify such
statements. Forward-looking statements are not guarantees of future
performance and are to be interpreted only as of the date on which
they are made. QuadraMed undertakes no obligation to update or
revise any forward-looking statement except as required by law.
QuadraMed advises investors that it discusses risk factors and
uncertainties that could cause QuadraMed�s actual results to differ
from forward-looking statements in its periodic reports filed with
the Securities and Exchange Commission ("SEC"). QuadraMed�s SEC
filings can be accessed through the Investor Relations section of
our website, www.quadramed.com, or through the SEC�s EDGAR Database
at www.sec.gov (QuadraMed has EDGAR CIK No. 0001018833). QuadraMed,
Affinity and Quantim are registered trademarks of QuadraMed
Corporation. Care-Based Revenue Cycle and Smart Identity Management
Solutions are trademarks of QuadraMed Corporation. All other
trademarks are the property of their respective holders.
Quadramed (AMEX:QD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Quadramed (AMEX:QD)
Historical Stock Chart
From Jul 2023 to Jul 2024