We should stop using names for things in general. Someone might accidentally have fun.
Morning Headlines 8/24/21
NextGen Healthcare founder and Director Sheldon Razin and Director Lance Rosenzweig announce that they intend to nominate new directors in an effort to combat Chairman Jeffrey Margolis and his “imperial boardroom culture.”
Analytics company Covera Health secures $25 million in a funding round led by Insight Partners, bringing its total raised to $32 million.
DuvaSawko, Abeo, and Gottlieb Join Forces as Ventra Health
After being acquired by Varsity Healthcare Partners nearly two years ago, RCM and practice management companies DuvaSawko, Abeo Management, and Gottlieb combine to form Ventra Health.
What’s going on at nextgen?
Not sure what’s going on there, but we beat them left and right. Their tech is old and cost thousands to host on servers. No cloud footprint. They have two or three EMRs. High turnover. Shrinking client bases. But they paid KLAS the ransom money so they been getting good KLAS scores.
The big takeaway, KLAS is a joke!
I’d be interested to know what market that is. Nextgen mostly has exited the affiliated market that Epic dominates. Nextgen focused on large office practices, specialties, and multi-specialty practices while keeping or picking up affiliated practices whose hospitals don’t use Epic. That positioning seems smart since that’s the market where the deal size is large and the cost of getting and supporting the deal is low. They also acquire cheap addons to upsell to their existing customers and outsource all of their dev work. It actually seems like a reasonable strategy to me if you are looking for ROI in the current competitive ambulatory market.