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TWST: We'd like to begin with a brief historical sketch of HealthStream
and a picture of the things you are doing now.
Mr. Frist: HealthStream is working hard to improve the quality of
healthcare by improving the quality and accessibility of healthcare
education. We began in 1990 as a small multimedia company focused on
using technology to improve learning. With a strong concentration in
health care, we became known as 'HealthStream' in 1997 and became a
public company in April 2000 (NASDAQ: HSTM). HealthStream delivers
training and education services to hospitals, nationwide. Currently, we
have over 1,200 hospital customers, representing over 1.3 million
contracted subscribers who use our services to meet their training
requirements, including those mandated by OSHA (Occupational Safety and
Health Administration) and JCAHO (Joint Commission on Accreditation of
Healthcare Organizations). Hospital-based healthcare professionals also
use our training to meet a range of clinical education objectives and to
prepare for the adoption of new medical device technologies, like those,
for example, associated with Baxter Healthcare's infusion pumps and
Alaris Medical Systems' infusion pumps. Overall, our customers use our
learning solutions to develop their workforce and, in turn, improve
their delivery of care to patients. TWST: When you speak of the workforce, does that mean everybody from top
to bottom?
Mr. Frist: Yes. There are approximately 5,000 acute-care hospitals in
the US that, collectively, employ approximately 5 million employees.
When a hospital contracts for our services, it is typically for the
entire payroll of the hospital ' including everyone from the CEO to the
pharmacy technicians to the cafeteria servers.
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