SRC Software announces European expansion

SRC Software says that seven out of ten of the major US hospital chains and 47 out of the top 100 healthcare institutions use its corporate performance management (CPM) solutions. In the UK, SRC counts the London Ambulance NHS Trust among its customers.

The new move in Europe follows a decision last year to sever links with longtime distribution partner Frango AB, which was bought by a rival.

SRC president and CEO, Thomas Malone, told E-Health Insider he expected 35% of SRC’s business to come out of Europe by 2006 – more than double the current figure of 15%. Three offices will be opened up in the UK, Sweden and Belgium.

Malone says that also reimbursements arrangements are different in the US, but that hospitals have common cost and revenue centres and can benefit from CPM solutions.

"[CPM] is a fancy term some analysts came up with some time ago which really means a planning and reporting process that helps you create long term plans that drive short term plans from which you can interpret actual results and compare them," he explained.

"So many healthcare systems can tell you where you’ve been and are good at telling you where you are, but they are not very useful for modelling the future. It’s about predicting where you will be next quarter.  That’s where SRC excels."

He also claims fast delivery with installations taking less than 60 days and ease of use with Excel frontends familiar to staff working in planning, finance and performance departments.

SRC has appointed Ola Hendriksson as the director of European marketing and business development along with a team of support representatives, sales engineers and administrative staff.