Australian success story as featured in Austrade TRADEMARK February 2005
South Australian healthcare IT company, Power Solutions, has forged strong client bases in New Zealand and the US through the export of its award-winning software products.
Power Solutions specializes in business improvement solutions for hospitals, health departments and other healthcare organizations, using innovative decision support, reporting and integration technology.
Hospitals use Power Solutions products to track patient revenue as well as patient care costs, identify cost saving opportunities and compare the financial impact of different options, as well as perform internal audits on clinical coding.
Director of Power Solutions, Paul Venables said the company’s products are particularly applicable in countries using activity-based or population-based funding models in healthcare management, such as Australia, New Zealand, USA and lately Europe and Asia.
With a strong customer base in Australia and New Zealand, Power Solutions entered the US market in late 2003. It recently acquired a new business partner, Kaufman Hall, a leading healthcare finance advisor, and together won a multi-hospital sale.
As a relatively small company, we rely on business partnerships for rapid penetration of international markets. Making good business contacts is therefore essential to our export success and Austrade's assistance and advice has been invaluable especially in the US, Mr Venables said.
As a relatively new entrant in the US market, Power Solutions stands out from the major healthcare vendors through its high function and state-of–the-art technology, combined with competitive pricing to provide customers with a rapid return on their investment.
Thousands of US hospitals are still relying on legacy decision support systems because there are so few up-to-date alternatives. Our technology moves hospitals into the new era of open architecture web-based healthcare decision support systems. For the first time hospitals can have open-access to all their data without being restricted to standard reports provided by the vendor. With our integration technology, we can also link to any system regardless of its age, which is essential for hospitals with many disparate computer systems.
The technology is web-browser based with a client/server architecture, which consumes minimal resources on the user's computer. The client computer can be connected to the server computer though a corporate intranet or over the Internet.
Power Solutions offers healthcare professionals access to its products over the Internet allowing them to concentrate on their clinical business without having to worry about computer hardware and system administration.
We are excited to have entered the US where high tech systems are in demand, Mr Venables said.
