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Providence Health & Services Partners with Binary FountainBinary Fountain, a SaaS (News - Alert) based social intelligence company, formally announced it has partnered with Providence Health & Services, the third largest not-for-profit health system in the country. Providence is partnering as both a client and as a strategic investor, contributing towards Binary's seed round. "Health care has lagged behind other industries in focusing on customer service," commented Orest Holubec, Providence senior vice president for Marketing and Communication. "Our ultimate goal is creating and delivering the highest-quality experience - every time - for our patients and clinicians. This technology combines social insights with our own research and turns patient feedback into information that helps us improve the experience for our patients and clinicians. We can also track improvements in customer experience over time using Binary Fountain. The solution helps Providence fulfill our promise: Know me, care for me, ease my way." The investment in Binary Fountain was made early in 2014 and is a part of Providence Ventures, a $150 million fund Providence is using to invest in early to mid-stage companies in targeted core areas, including patient and clinician experience and data analytics. "Binary Fountain has created a highly innovative technology that enables health care organizations to mine and analyze patient feedback from many different sources such as surveys and social media," said Aaron Martin, Providence Senior Vice President of Strategy and Innovation. "We saw an opportunity to partner and fundamentally improve how patient experience is measured and acted upon in our health system. This is a great example of our venture model of finding technology solutions to improve our health system, partnering with great early-stage teams like Binary Fountain as a customer, and supporting them through investment." "Providece's deep industry expertise and innovative culture make them an excellent partner for us," commented Binary Fountain CEO Ramu Potarazu. "We continue to experience strong growth driven by rapidly increasing market demand in the health care sector, so having access to Providence's expertise has been a huge asset to us and our early-stage growth initiatives. Furthermore, our partnership has allowed us to expand our product offering adding value to clients with our newest social intelligence tool, Social Index - a provider-specific social media and review site sentiment mining tool that provides users with actionable insights to help them make better business decisions based on actionable insights." About Binary Fountain Binary Fountain, Inc. is the leading provider of patient experience and reputation management software enabling healthcare organizations to truly learn from and take action on patient feedback. Since launching Social Compass (News - Alert) in 2012 Binary Fountain has grown rapidly, processing millions of reviews from an ever-growing number of social media, web and survey sources. Leading healthcare organizations rely on Binary Fountain to understand patient experience, drive comprehensive operational intelligence throughout the organization and engage patients with innovative reputation management capabilities. For more information, visit www.BinaryFountain.com or e-mail [email protected]. About Providence Health & Services Providence Health & Services is a Catholic health care ministry committed to providing for the needs of the communities it serves - especially for those who are poor and vulnerable. Providence is the third largest not-for-profit health system in the U.S., and includes 34 hospitals, 475 physician clinics, home health, hospice, skilled nursing, supportive housing and many other health and educational services. The health system and its affiliates employs more than 73,000 people across five states - Alaska, California, Montana, Oregon and Washington - with its system office located in Renton, Washington. In 2013, Providence provided more than $951 million in community benefit, including $313 million in free and discounted care for those who could not afford to pay for care. Providence Health & Services continues a tradition of caring that the Sisters of Providence began more than 158 years ago.
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