Press Release
Media Contact: Susan Frankle
Vice President, Corporate Marketing
Silverlink Communications
Tel: 781.425.5719
sfrankle@silverlink.com
SILVERLINK REPORTS 47% REVENUE GROWTH IN 2008
Februrary 18, 2009
Managed Services Business Grows 400% As Business Process Outsourcing (BPO) Becomes Key 2009 Initiative for Health Plans.
Adaptive HealthComm ScienceTM Dramatically Improves Results for Healthcare Consumer Communications Programs.
Burlington, MA - Silverlink Communications® Inc., the leader in healthcare consumer communications, today announced 2008 revenue growth of 47% over 2007. The company's strong 2008 performance continues several years of solid gains, with 78% compound annual revenue growth over the past four years.
The company's managed services, which help healthcare enterprises lower costs and drive consumer behaviors, were a key engine of growth in 2008 with a 400% increase over 2007 revenues. These services provide end-to-end business process management of complex communications outreach to consumers in the highest impact areas of healthcare including medication adherence, retention and loyalty, pill splitting, disease management engagement, HEDIS improvement, coordination of benefits (COB), health risk assessments, and retail-to-mail conversions, among others.
Silverlink is well positioned for continued growth, even in a tough economy. The opportunity for health plans and other healthcare enterprises to leverage business process outsourcing has recently been reported by International Data Corporation (IDC), a leading analyst firm. Gartner, Inc., another leading analyst firm, has published a report on healthcare insurer business process outsourcing trends.
According to Janice Young, IDC program director, Payer IT Strategies, "we expect to see an increasing interest and likely investment in BPO in 2009 and 2010 for healthcare payers. Our recent results from our January 2009 healthcare payer survey of IT spending indicate that 45% of healthcare payers expect BPO investments to increase this year." These trends are highlighted in IDC's U.S. Healthcare Payer 2009 Top 10 Predictions (January 2009).
Gartner research vice president, Joanne Galimi, reported on BPO services within health plans in a recent report entitled Healthcare Insurer Business Process Outsourcing Trends (January 2009). "Although things look gloomy for the larger economy, the potential for BPO to address immediate business pressures and long-term recovery goals for the health plans will be unprecedented," says Galimi.
Two core components of Silverlink’s managed services are the company's multi-channel campaign management technology and its proprietary Adaptive HealthComm Science™. This methodology drives desired consumer behaviors by applying micro-segmentation, consumer analytics, and adaptive control techniques to healthcare communications resulting in highly personalized, targeted and relevant communications. Silverlink was the first company to apply these disciplines to healthcare communications to significantly improve health and lower healthcare costs.
Program results achieved in 2008, highlighting Silverlink's performance include:
- Over a 300% improvement in retail-to-mail conversions for a large pharmacy benefit manager (PBM),
- 54% increase in participation for a pharmacy program, representing between $150 and $175 per year per prescription in consumer savings,
- 400% improvement in yield in a COB program, translating to over $20 million in cost savings to a major U.S. health plan, and
- Up to an 82% increase in transfer rates for population health engagement for disease management, lifestyle management and treatment decision support programs.
"Our company continues to grow steadily in spite of challenging economic times because we are addressing high-value areas for healthcare enterprises where effective consumer communications has an immediate and significant impact to their bottom line," said Stan Nowak, CEO and co-founder of Silverlink. "With our unique combination of communications process management and decision science methodologies, our programs successfully drive consumer behavior and achieve results never before thought possible."
About Silverlink
At Silverlink, we get that health and healthcare costs – which are enormous, in both size and significance – are actually the sum of millions of individual decisions. When one person decides to smoke, another gets a cancer screening, a third abandons diabetes medication – these are the individual behaviors that taken together make up the state of our nation’s health and the costs associated with it. That is why, when Silverlink set out to transform healthcare, we went right to the individual. Our entire focus, our mission, and our method are about helping move individual people in small, healthier ways – the cumulative effect of which can save millions of lives and billions of dollars.
To learn more about what makes Silverlink the leader in consumer health engagement, please visit www.silverlink.com, email info@silverlink.com, or call 1.781.425.5700.
Silverlink is a registered trademark of Silverlink Communications Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
