HealthStream Announces Three Innovations for Privileging, Health Plan Credentialing, and Provider Data Management

Patent earned for leading privilege solution while Network by HealthStream™ for health plans and expanded capabilities in the hStream platform are introduced

HealthStream (Nasdaq: HSTM), a leading healthcare technology platform for workforce solutions, unveiled an array of CredentialStream® innovations at the NAMSS 2024 Conference. CredentialStream, an industry-leading Credentialing solution for healthcare organizations, continues to expand its market-leading capabilities.

“We are proud to announce these new credentialing, privileging, and enrollment innovations,” said Michael J. Sousa, Executive Vice President of Enterprise Applications at HealthStream. “Collectively, these new capabilities will enable our clients to accelerate time to revenue, rapidly validate credentials, and boost the provider experience.”

Key announcements include:

1. CredentialStream's Privilege Solution Receives Patent: HealthStream’s innovative solution for healthcare provider privileging earned a patent in August 2024. This solution is unique in the industry with its curated privileging library; smart logic that automates the evaluation of qualifications, credentials, and competencies; online reviewers’ functionality to analyze, discuss, and grant privileges; and national, proprietary benchmarks—among other differentiating capabilities and features.
2. Network by HealthStream™ and Verisys Partnership: Designed and built specifically for health plans, Network by HealthStream delivers a data-fluent solution to stream continuously updated practitioner data across the health plan enterprise. Network by HealthStream automates payer credentialing, regulatory compliance, network adequacy checks, provider directory updates, and contract management. These unique capabilities enable clients to streamline operations, accelerate network growth, and enhance the member experience. In collaboration with Verisys Corporation, HealthStream is also introducing OneClick Verisys, the first tech-enabled Credentials Verification Organization (CVO) service. For health plans that adopt Network by HealthStream, they can now fully or partially outsource CVO processing with a single click, providing both the convenience of an outsourced service and the power of a digital practitioner record.
3. New Benefits to HealthStream’s hStream for Credentialing Package: Clients’ selection of HealthStream’s CredentialStream application is provided to them via the hStream platform through an hStream for Credentialing package. Many benefits accompany this package—including the following two new benefits.
   • Provider Portfolio: This unique solution offers a pre-validated, mobile wallet of credentials for every licensed provider in the nation. When implemented in the coming months, a provider will be able to submit a claimed Provider Portfolio to any CredentialStream client during the application process. Further, Provider Portfolio will automatically receive updates from other HealthStream applications, including the HealthStream Learning Center (HLC), CME applications, and more. CME Alerts will be generated based on the provider’s license(s) when a state has mandated a specific course. Providers will then be able to elect to purchase and complete the required course with completion data and the applicable certificate instantly populating the Provider Portfolio.
   • MyLearning: For organizations utilizing CredentialStream and the HLC, assigned courses for providers can automatically appear within the CredentialStream Hub. For example, HealthStream now offers two premier compliance courses for providers: (1) Onboarding for New Providers and (2) Annual Training for Providers. These courses are curated to fulfill virtually all compliance requirements in a single “Rapid Regulatory” course. Upon assignment in the HLC, these courses are automatically presented to the provider along with other onboarding tasks, such as credentialing, privileging, and enrollment. Completion data and the applicable certificate will automatically populate CredentialStream and the Provider Portfolio. Similarly, EMR training can be assigned in the HLC, appear in CredentialStream, and streamline the EMR provisioning process.

“We’re excited to showcase these industry-leading capabilities at NAMSS 2024,” said Sousa. “We believe that accelerating the onboarding process for providers—including a myriad of tasks across medical staff credentialing, privileging, enrollment, health plan credentialing, compliance training, EMR provisioning, CME management, and provider evaluation—can best be achieved with a single application that automates all of these tasks and delivers a one-stop for providers.”

HealthStream is presenting these groundbreaking innovations alongside its other premier products at NAMSS24 in Denver. Attendees are invited to explore the HealthStream booth at #603 and participate in the enlightening Solution Showcase presentation, “Credentialing and Privileging are Critical: Win with CredentialStream,” during the event on Monday, Sept 30, 2024, 11:45 a.m.-12:05 p.m. MDT in the Solution Showcase area in the exhibit hall.

About HealthStream

HealthStream (Nasdaq: HSTM) is the healthcare industry’s largest ecosystem of platform-delivered workforce solutions that empowers healthcare professionals to do what they do best: deliver excellence in patient care. For more information, visit http://www.healthstream.com or call 800-521-0574.

This press release contains forward-looking statements that involve risks and uncertainties regarding HealthStream. This information has been included in reliance on the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. These forward-looking statements are based on a variety of assumptions that may not be realized, and which are subject to significant risks and uncertainties, including that the anticipated financial and strategic benefits of the acquisition may not be realized, as well as risks and uncertainties referenced from time to time in the Company’s filings with the Securities and Exchange Commission.

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