Morning Headlines 8/7/13

Farzad Mostashari, M.D., ONC Chief, Stepping Down

Farzad Mostashari, MD will step down this fall after serving two years as the National Coordinator for Health Information Technology.

Reduction in federal funding will result in job cuts at many Vermont hospitals

Fletcher Allen Health Care (VT) will add 280 jobs over the next 10 years despite an expected $200 million operational loss. The job growth is attributed to its recently implemented Epic system.

Nuance cuts forecast on delayed deals, move to subscription

Nuance lowers its year-end forecast from $1.33 to $1.45 EPS to a revised $1.27 to $1.35 EPS, due largely to contract delays from mobile customers and a migration to a subscription-based revenue model. The news led to a six percent drop in stock price during after hours trading.