March 29, 2012 | Palo Alto, California: MetricStream, the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced that Lancaster General Health, an award-winning regional healthcare provider, has chosen MetricStream Policy Management Solution to strengthen its compliance program. MetricStream will enable the healthcare provider to consolidate and organize enterprise-wide policies and procedures on a centralized GRC Platform for greater efficiency in policy management, tracking, collaboration and accountability.

Lancaster General Health (LG Health) is a not-for-profit healthcare system with a reputation for excellence. The organization provides a comprehensive network of care, encompassing Lancaster General Hospital, Women & Babies Hospital, suburban and downtown outpatient pavilions, and more than 45 other outpatient facilities and physician practices throughout Lancaster County, PA. LG Health has received several honors and awards for its clinical experience and operational performance.

“At Lancaster General Health, our policies and procedures influence every aspect of our business - right from our processes, to our relationships, to our behavior and culture as well as our regulatory compliance requirements,” says Margaret Costella, Vice President and Deputy General Counsel at Lancaster General Health. “With MetricStream’s rich and robust Policy Management solution, we will gain significant efficiencies in our policy lifecycle management process, and enhance the way we organize and implement policies across the enterprise. The solution’s integrated approach based on a GRC Platform, as well as its intuitive tools for collaboration, policy tracking, training, and mapping policies to compliance requirements, led us to select MetricStream as our solution provider.”

Many companies rely on content-based or document sharing software solutions for managing their policies which do not provide a well governed structure specially needed for regulated environments like healthcare. Poorly managed and uncontrolled creation and posting of policies results in dozens of policies scattered across different internal websites and systems, with no clear ownership, traceability or accountability. Not only does this defeat the purpose of the policies, but it also increases the risk of noncompliance with regulations and laws.

MetricStream Policy Management solution will help LG Health effectively meet regulatory requirements by enabling a GRC-based approach to policy management that drives sustainable compliance. The solution integrates enterprise-wide policies on a single, centralized platform, and streamlines the complete policy management lifecycle, thus ensuring consistency in the way policies are created, maintained and understood. Robust audit trails, dashboards and reports enhance accountability by providing real-time insights into the creation and management of each policy. In addition, the solution enables aligning of policies and procedures to the changes in the regulatory, risk and corporate environment.

“We are excited to add Lancaster General Health to our roster of customers in the healthcare sector where MetricStream GRC solutions are being widely adopted and serving as the foundation for change to deal with regulatory reforms and industry changes,” says Gaurav Kapoor, Chief Operating Officer at MetricStream. “MetricStream Policy Management solution has successfully enabled numerous organizations to manage their policy lifecycle and compliance programs in a collaborative, systematic and consistent manner. It also offers the flexibility to extend beyond policy management to other areas of GRC, including Regulatory Intelligence, Internal AuditRisk Management and IT Governance. Organizations thus gain a single framework to manage the complete spectrum of risk and compliance requirements which, in turn, saves costs, improves operational efficiency, and drives optimal business value.”

About MetricStream

MetricStream, the independent market leader in enterprise and cloud applications for Governance, Risk, Compliance (GRC) and Quality Management, makes GRC simple. MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally. (www.metricstream.com).

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