Allscripts announces Q4 results: revenue up 17 percent, adjusted EPS $0.20 vs. $0.18, falling short of Wall Street expectations for both.
Shares dropped 8 percent in after-hours trading following the announcement.
MDRX shares are down 12 percent in the past year vs. the Nasdaq’s 3 percent gain.
From Dr Ølsson: “Re: Epic in Denmark. Majority of doctors want to get rid of the Epic platform according to this January 23 article. Heaps of problems with medications and patients harmed. I do not understand how this company is the best of America.” Planned health reform in Denmark pushes the idea of a single IT system for the country instead of five regions making their own decisions, with 62 percent of doctors polled in the Capital Region where Epic is installed saying they are dissatisfied. The Central Denmark region of the Danish health service uses Systematic, and some think it has fewer problems and should therefore become the single hospital system.
HIStalk Announcements and Requests
We’re down to half a full complement of Monkees (aka “the pre-fab four” that were cast as TV actors while leaving the musical work to session players) as bass player Peter Tork has died at 77, presumably of the adenoid cystic carcinoma with which he was diagnosed in 2009.
March 6 (Wednesday) 1:00 ET. “Pairing a High-Tech Clinical Logistics Center with a Communication Platform for Quick Patient Response.” Sponsored by Voalte. Presenters: James Schnatterer, MBA, clinical applications manager, Nemours Children’s Health; Mark Chamberlain, clinical applications analyst, Nemours Children’s Health. Medics at Nemours Children’s Health track vital signs of patients in Florida and Delaware from one central hub, acting as eyes and ears when a nurse is away from the bedside. Close monitoring 24 hours a day integrates data from the electronic health record, such as critical lab results, and routes physiological monitor and nurse call alerts directly to the appropriate caregiver’s smartphone. This session explores how the Clinical Logistics Center and more than 1,600 Zebra TC51-HC Touch Computers running Voalte Platform connect care teams at two geographically dispersed sites for better patient safety and the best possible outcomes.
Acquisitions, Funding, Business, and Stock
Inovalon announces Q4 results: revenue up 19 percent, adjusted EPS $0.05 vs. $0.06, missing Wall Street expectations for both. Shares dropped 13 percent Thursday after the midday earnings announcement. They are up 15 percent in the past year vs. the Nasdaq’s 3 percent gain.
Health IT’s web of vendor consolidation grows more tangled. A week after announcing it was looking for a buyer, Veritas Capital sells workforce management software company API Healthcare it to Symplr. API Healthcare has run through a number of hands, selling to Francisco Partners in 2008, nearly selling to competitor Kronos in 2011, and then to GE Healthcare in 2014. Veritas acquired it last year when GE sold off its Value-Based Care Division for $1 billion.
Stat reports in a paywalled piece that the main goal of the Amazon – Berkshire Hathaway – JPMorgan Chase joint healthcare venture is to make health insurance “more intelligible” and prescription drug prices less opaque. COO Jack Stoddard, testifying at a hearing on trade secrets brought about by Optum, said, “You can imagine our employers are … incredibly allergic to market inefficiencies.”
Garfield County Hospital District (WA) CEO Julia Leonard says a nearly $1 million shortfall caused by the billing inefficiencies of the hospital’s new EHR has contributed to her decision to drastically cut staff and operating hours. The 25-bed rural hospital – the smallest in the state – seems to have consistently faced financial difficulties over the last several years, including MU penalties. It appears the district uses Athenahealth for inpatient and NextGen for outpatient services.
Harris Computer Systems acquires long-term and post-acute care health IT vendor Collain Healthcare.
Dan Monahan (Change Healthcare) joins MDLive as COO and CFO.
- Mon Health will implement InteliPass RCM software and services from PatientMatters across its facilities in West Virginia and Pennsylvania.
Announcements and Implementations
Imprivata announces GA of Proximity Aware, a Bluetooth-enabled solution that ensures PHI is protected on shared workstations.
A new KLAS report on legacy data archiving lists MediQuant, Harmony Healthcare IT, and Legacy Data Access as having broad expertise, with MediQuant scoring highest in customer satisfaction. Ellkay scores high in customer satisfaction as it gains experiencing in moving beyond its initial focus of ambulatory clinical data.
Marshfield Clinic Health System (WI) launches a telehealth program for patients at its Heart Failure Improvement Clinic using software from Health Recovery Solutions.
Government and Politics
HHS is hiring for a director of its information security and privacy group, who will also act as CMS CISO. The Baltimore-based position pays between $126,000 and $189,000.
Privacy and Security
In Ontario, the Toronto paper notes that an unnamed vendor of a EHR system used there is selling anonymized patient data to IQVIA, which uses it in pharmaceutical marketing.
UW Medicine (WA) notifies 974,000 patients of a data breach that occurred when internal files were inadvertently made public on the Internet via an unprotected server. A patient Googling themselves found the files and notified the health system.
In Arizona, legal disagreements between the creditors of shuttered Florence Hospital at Anthem and Gilbert Hospital keep medical records wrapped up in red tape, preventing many patients from moving forward with treatment elsewhere. The records have been in limbo since the hospitals, both owned by New Vision Health, declared bankruptcy and closed last summer. Medhost, which repossessed the EHR servers after the hospitals closed, claims it gave patients access to their records six months after terminating its contract. Patients, however, say Medhost is holding the files hostage in lieu of an estimated $100,000 payment. The judge overseeing the legal wrangling says the records can’t be given to patients because of “the estate’s lack of funding, unilateral actions taken by creditors, technological challenges associated with migrating electronically-stored medical records, and other factors.”
The Washington Post reports that the FTC is in negotiations with Facebook over a multi-billion dollar fine that would put a stop to the agency’s nearly year-long investigation into the social media giant’s privacy practices. The biggest fine the FTC has ever imposed for similar infractions was the $22.5 million Google paid in 2012.
Kaiser Permanente’s new School of Medicine in California will offer its first five graduating classes free tuition in an effort to attract future professionals who won’t feel financially obligated to opt for higher-paying positions after graduation. NYU’s medical school announced similar plans last fall. Both organizations hope to encourage more students to pursue lower-paying callings like primary care that are facing nationwide staffing shortages.
China is offering “Physicals for All” to a predominantly Muslim ethnic group in one region that involves secretly collecting their DNA and adding it to a surveillance database. The program collected and catalogued DNA samples from 36 million people, some of them told by the government that participation was not optional. Hundreds of thousands of ethnic group members have been held in what the government calls job training camps, where DNA was also taken. Massachusetts-based DNA testing company Thermo Fisher will stop selling its equipment to the part of China that is conducting the tracking campaign. The company was receiving DNA samples in return that were added to a global database, raising consent issues.
- EClinicalWorks will exhibit at the American Academy Allergy Asthma & Immunology Annual Meeting February 22-25 in San Francisco.
- EPSi will exhibit at the Region V Dixie Institute February 24-27 in Mobile, AL.
- The HCI Group publishes a new white paper, “Designing Smart Hospitals and Patient Rooms with 5G.”
- Healthgrades announces America’s Best Hospitals.
- Imat Solutions launches new health data platform Imat 8.0.
- SyTrue creates an explainer video covering medical record audits for health plans.
- Imprivata partners with Google Cloud to enable single sign-on access to Chrome devices.
- The InterSystems Iris for Health Data Platform is now available on the AWS Marketplace, and on all major cloud providers.
- IMO announces availability of Periop IT content through Epic’s Foundation System.
- Herb Smaltz (CIO Consult) joins The Chartis Group’s Information & Technology Practice as director.
- E4 will offer NextGate’s Enterprise Master Patient Index as part of its HIM and data-cleanup services.
- Humana’s North Carolina Medicare Advantage plan will use PatientPing’s real-time patient alert technology.
- Cooper University Health Care (NJ) renews its care management contract with CarePort Health and adds CarePort’s Connect and Insight capabilities.
- Health Catalyst congratulates Thibodaux Regional Medical Center (LA) on being named a Top Innovation winner in its Patient Safety & Quality Healthcare Innovation Award program.
- Meditech will host its Strategic Leadership Summit April 3-4 in Marina Del Ray, CA.
- Seeing Interoperability Through a New Prizma (EClinicalWorks)
- How “bots” improve patient engagement and save money (Formativ Health)
- Protected: Looking Back on HIMSS19 (FormFast)
- Have You Underestimated What It Takes to Support Today’s Modern EHRs? (HCTec)
- Ensuring Quality Outcomes by Reducing EHR system Downtime (Goliath Technologies)
- Getting real about AI in healthcare (Hyland)
- Call To Action: Make Cybersecurity a Priority to Protect Patient Safety (Iatric Systems)
- Best in KLAS: A Sustained Commitment to High Quality Services (Impact Advisors)
- Want to improve healthcare? Change how the systems operate (InterSystems)
- Baystate Health’s Story: Personalizing the Patient Experience by Engaging the Right Stakeholders (Kyruus)
- HHS’s New Rules on Interoperability and Patient Access: Health Records are Only the Beginning (Loyale Healthcare)
- HIMSS19 Closing Thoughts: An International Perspective (Dimensional Insight)
- MACRA’s 6 resolutions for improving patient care in 2019 (Meditech)