Cash-flow solution company awarded

A COMPANY which has developed a computer programme that could dramatically improve the cash flow of Irish hospitals has won an entrepreneur award.

Sláinte Technologies, which is based at the Guinness Enterprise Centre in Dublin, was founded two years ago and already employs 29 people. It won the business section of the David Manley Emerging Entrepreneur Awards at the weekend, worth €1,000.

Sláinte has also been short-listed for the main prize tomorrow which is worth €80,000 to the winner.

Sláinte chief executive and founder Andrew Murphy, a former pharmaceutical manager, said they were delighted to win the award.

"It is a recognition and validation of our business strategy and approach to our business," he said.

"It is especially satisfying given that this is the only business award we have entered to date. I think it validates that we have a powerful business model with some great minds behind it and this company is ready to continue to grow exceptionally strongly in the following years."

Sláinte developed Claimsure, a software programme that helps hospitals deal with the troublesome burden of recovering the costs of patient care from insurance companies. It is estimated that €100 million in unpaid claims is outstanding at any one time.

On average it takes a hospital six months to recover such costs because of the paperwork involved, but Sláinte says Claimsure can reduce that time lapse to 45 days.

The system has already been trialled successfully in St James's Hospital, Dublin, and at the Galway Clinic while Sláinte is in talks with the Health Service Executive (HSE) to roll it out further.

By some estimates, St James's Hospital has been able to double the amount of money it recovers in private health insurance in the space of one year.

"It is a software solution that would allow a much leaner process to be developed.

"It is a claims management solution that cuts out a lot of the manual process.

"The consultants can remotely sign and approve claim forms. It is much more streamlined," Mr Murphy claimed.

Another system that is due to be launched next year is a chart scanning and archiving solution, which will enable existing paper charts to be scanned electronically with low-cost equipment and limited staff training.

Sláinte has recently opened an office in Britain, to support its growing integration services business, which facilitates multiple hospital systems to share information.