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Health Catalyst First Quarter 2024 Earnings

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Health Catalyst Unveils Next-Generation Data and Analytics Ecosystem Built for Healthcare, Health Catalyst Ignite®

May 21, 2024 at 9:00 AM EDT

SALT LAKE CITY, May 21, 2024 /PRNewswire/ -- Health Catalyst, Inc. ("Health Catalyst," Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today announced the launch of Health Catalyst Ignite®, a next-generation healthcare data and analytics ecosystem that combines best-in-class technologies, healthcare-specific data models, self-service tools, and industry expertise in one modern environment.

Today's health systems face significant challenges in navigating a path to clinical, operational, and financial success. Rigid, legacy technologies, labor-intensive data collection and aggregation, inaccessible data, immense financial pressures, and staggering amounts of healthcare data. A dynamic healthcare environment requires a dynamic solution. Health Catalyst Ignite is built on the fusion of top-tier technologies and tailored to the unique needs of healthcare. With enhanced transparency and control over data management, organizations move from inefficient, retrospective analysis to predictive insights and beyond, leveraging machine learning and AI.

Commenting on the announcement, TJ Elbert, Health Catalyst's Chief Data Officer and General Manager of the Data Platform Business Unit, said, "With the launch of Ignite, Health Catalyst aims to transform the end-user experience and reduce costs and time-to-value related to fundamental data management and data governance tasks that often hamper clinical, operational, and financial improvement initiatives. Today's healthcare organizations want seamless integration and workflows and more control over their destiny. I am confident that Ignite's modern, flexible, cloud-based environment can deliver on this opportunity."

Health Catalyst Ignite enables data sharing where it resides rather than creating duplicate copies. Ignite quickly ingests data, centralizing data governance, democratizing analytics and insights, and significantly reducing storage and management costs while providing widespread access to refined healthcare data. For healthcare organizations, this means better decision-making, faster insights, and best-value technology; here's how:

Built for Simplicity and Utility. Health Catalyst Ignite has done the heavy integration work of combining cross-industry technologies, freeing health systems from the constraints of monolithic, rigid data platforms and offering revolutionary flexibility and agility. This creates significant increases in scalability and modularity over previous data platforms.

Ignite Can Meet You Where You Are. With Ignite, there's no need to rebuild from scratch or stretch budgets for data-driven healthcare initiatives. Ignite can overcome the most challenging barriers to accessing purpose-fit data, including rapid integration of health systems' clinical, financial, and operational data with most existing vendor environments and tools.

Designed Specifically for Healthcare. Ignite natively integrates clinical, financial, and operational data to support healthcare's most important use cases. For those seeking self-service options, Ignite offers accurate and timely data in user-friendly formats. Ignite empowers all team members to contribute data strategy and can easily engage with the ecosystem; no data engineering expertise required.

Power Use Case Solutions. From clinical improvement to ambulatory operations, from revenue and cost improvement to measures and registries, our modern, modular data and analytics tools are tailored to meet healthcare needs, not just technological specs.

Pragmatic and Real AI. Ignite is enriched with deep healthcare-specific expertise, like having a seasoned expert always ready to streamline operations and handle routine tasks, leaving users free to focus on what truly matters: patient care. The AI found in Ignite isn't just smart; it's healthcare smart.

"The launch of Health Catalyst Ignite marks a pivotal moment in our mission to enable massive, measurable healthcare improvement. Ignite enables us to explore what is possible when healthcare organizations are empowered to make clinical, operational, and financial decisions based on trustworthy, high-value data," said Dan Burton, CEO of Health Catalyst. "As hospitals and health systems worldwide continue to grapple with stretched budgets, unreliable data, and operational inefficiencies, Health Catalyst Ignite is the enterprise solution to streamline processes, reduce costs, and enhance accessibility and efficiency of healthcare data."

Health Catalyst's next-generation data and analytics platform, Ignite, breaks down the cost, time, access, and expertise barriers to data-informed healthcare improvement and gets the right data to the right decision-makers at the right time to drive massive, measurable improvement.

About Health Catalyst
Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its customers leverage the cloud-based data platform—powered by data from more than 100 million patient records and encompassing trillions of facts—as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial, and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed.

Media Contact:
Amanda Hundt
Vice President, Corporate Communications
amanda.hundt@healthcatalyst.com
575-491-0974

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SOURCE Health Catalyst