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Meditech News

July 19, 2020 News No Comments

A KLAS study of health system connectivity to post-acute care organizations finds that only Epic and Meditech provide solutions in all areas, as Cerner offers long-term and behavioral health modules but resells home health and hospice technology from strong performer MatrixCare. Netsmart has significant market share in standalone organizations that aren’t connected to health systems, having acquired solutions from Allscripts, Change Healthcare, DeVero, and HealthMedx, but customer satisfaction has dropped following post-acquisition lapses in support, development, and integration. PointClickCare is the strongest performer in long-term care, but no vendor consistently meets behavioral health needs. Records-sharing with acute care organizations from which referrals are sent is inconsistent, with Cerner and Epic having a high percentage of customers connected to CommonWell or Carequality, Meditech and Allscripts having low interoperability adoption, and the majority of users of all four systems reporting faxing as the most common method of exchanging information. (11/16/20)

Meditech launches Virtual On Demand Care, which allows patients to choose “see a provider now” from the Expanse patient portal or app to launch a video chat. (11/6/20)

Meditech reports Q3 results: revenue down 5.3%, EPS $0.82 versus $2.44. Product revenue decreased 29.9% due to pandemic-related implementation delays, but service revenue increased 6.3% as more customers went live. (11/4/20)

San Luis Valley Health (CO) implements Meditech with consulting help from Engage. (10/7/20)

Meditech will end its status as an SEC public reporting company by running a reverse stock split that will allow it to de-register its shares. Shareholders with fewer than 5,000 shares will be paid out at $45 per share to reduce the shareholder count to under 300, which will allow the company to take itself private. Meditech says that its public reporting status benefits its competitors, incurs costs, and provides little benefit since its shares are not traded on any public market. More than 1,500 current and former shareholders will receive a cash buy-back that ends their company ownership and will trigger capital gains taxes. Neil Pappalardo controls 45% of the company‘s shares, both his own $450 million worth as well as another $308 million worth that he votes as the sole trustee of the company’s profit sharing trust. Shareholders will vote on the proposal, but board members have unanimously approved it and own enough shares to ensure its passage.  (10/5/20)

AHIMA will offer Meditech Expanse as part of its online VLab, which offers students access to multiple software programs and corresponding lab lessons. (9/16/20)

Meditech launches Expanse Virtual Assistant, a voice navigation system powered by Nuance that can allows users to perform hands-free actions. (9/11/20)

Meditech reports Q2 results: revenue down 3.4%, EPS $0.88 versus $0.44. Product revenue declined 22%, but net income increased to $33 million. (8/3/20)

Meditech launches a diabetes prevention toolkit in Expanse. (7/14/20)

Remote EHR implementations enable Cayuga Medical Center (NY) and Mt. Graham Regional Medical Center (AZ) to go live on Meditech amid the COVID-19 pandemic. (6/9/20)

Newton Medical Center (KS) creates COVID-19 dashboards within Meditech’s business and clinical analytics to gain insight into bed occupancy, testing, and PPE supply. (6/5/20)

Meditech adds Apple Health support to Magic and Client/Server, making the app usable by all of its customers. (5/15/20)

A new KLAS report on US hospital EHR market share finds that Meditech Expanse is drawing new interest from customers outside its usual small-hospital base, with a new 400+ bed health system sale in 2019 giving the market a chance to see how Expanse scales. Meditech won about half the decisions made by its legacy customers in 2019, and half of its losses came from product standardization and provider M&A. Small, standalone hospitals were left with few choices after Athenahealth exited the inpatient market, with Cerner CommunityWorks and Meditech Expanse coming closest to meeting their needs. (5/1/20)



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Reader Comments

  • Matthew Holt: Non EMR user here, but isn't the answer cloud-based systems, non configurable by locals?...
  • David Butler: Great list. You're spot on. These were the EXACT issues I was frustrated with Epic in the early-mid 2000s. After goin...
  • WestCoastCFO: Re: Olive. Not seeing it, what am I missing? They seem to have found a nice niche, but they are not what I would call...
  • rxpete: Politico reporter didn't see "No Time for Sergeants" which leaves no doubt as to the spelling of cavalry based on the pr...
  • AnInteropGuy: Of the six EHRs I am familiar with, I have seen at least one or two of the problems described in each of them. Certainly...

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