"Still, there’s often confusion about who is caring for the patient ... " Playing off of Jimmy the Greek's comment,…
From the Allscripts earnings call:
- CEO Paul Black resigned Friday, effective immediately, saying that a new generation of leaders is needed now that the company’s focus is its Veradigm business.
- President and CFO Rick Poulton, who has been with the company for 10 years and is 56 years old, took over as CEO on Saturday.
- Black will leave the company’s board when his term expires this year.
- SVP/GM Thomas Langan has been promoted to president, while SVP/GM Leah Jones has been named CEO.
- Poulton said that selling the company’s hospital and large practice software business to Constellation Software will leave Allscripts more focused and with 5,000 fewer employees.
- With the sale, Veradigm represents 95% of Allscripts revenue, along with a “small unrelated product line” that makes up the remaining 5%.
Allscripts shares dropped 6% Friday after the earnings announcement after Thursday’s market close. They are up 22% in the past 12 months versus the Nasdaq’s 12% loss, valuing the company at $2.2 billion. They are up 68% in Paul Black’s 10-year tenure as CEO versus the Nasdaq’s 309% gain.
From Door Shower: “Re: HIMSS. Recently laid off several dozen folks. As usual when that happens, many others are leaving voluntarily.” Unverified, although I’ve heard this from former employees.
From Awardee: “Re: MedTech Breakthrough awards. Who runs this?” Parent company Tech Breakthrough, which runs dozens of cloned awards sites, apparently would rather you didn’t know who’s in charge since they provide no contact information or employee names and hide their domain registration information. They are equally protective of their awards criteria and how much companies pay the marketing company to tout their “wins” in press releases. I’ll speculate from experience given the company’s lack of forthrightness – it’s a handful of India-based tech people who are banking rupees for giving companies awards whose validity is questionable but rarely actually questioned. I’m happy to update with specifics should the company be interested in providing them.
From Punjab Pete: “Re: Ascension. Lost $884 million in Q1. CIO Gerry Lewis is out, HCL outsourcing contract is axed.” The loss is verified, the other items are not, although being discussed on layoff sites.
HIStalk Announcements and Requests
One-third of poll respondents have recently struggled to pay a medical bill. Northerner slyly expresses bafflement about the question because they live in Canada.
New poll to your right or here: What action should be taken when a clinician’s mistake kills a patient?
Thanks to the following companies that recently supported HIStalk. Click a logo for more information.
Acquisitions, Funding, Business, and Stock
Shares in the Global X Telemedicine & Digital Health exchange-traded fund were down 20% in the past month versus the Nasdaq’s 13% loss. They’re down 26% since the fund’s inception in July 2020 versus the Nasdaq’s 15% gain.
- A Leidos-led consortium that includes MediRecords, Coviu, and Nous Group wins a $230 million contract to implement an EHR for the Australia Defence Force. The system will replace EMIS-powered DeHS, which went live in 2014 at a cost of $94 million versus an initial budget of $16 million.
- Three-hospital Appalachian Regional Healthcare System signs a management service agreement with UNC Health, under which ARHS will implement Epic. The health system went live on Allscripts Sunrise in 2013.
Consulting firm Avia hires Daniel Clark, MBA, RN (Optum) as SVP of its Center for Care Transformation.
South Georgia Medical Center promotes Chuck Marshburn, MBA to CIO.
Adam Landman, MD, MHS, MS, MIS (Brigham and Women’s Hospital) joins Mass General Brigham as CIO/SVP of digital.
Definitive Healthcare promotes Robert Musslewhite, JD to CEO as of August 1. Founder and CEO Jason Krantz, MBA will move to executive chair.
Government and Politics
An OIG joint audit of efforts by the DoD and the VA to make their Cerner systems interoperable notes that migration of legacy data into Cerner could have been more consistent, that medical device integration could be improved, and that user access should be limited to information needed to perform job duties.
The VA confirms that Cerner was unavailable 50 times for at least some users singe going live in its Pacific Northwest sites, but the outages were not widespread. The VA’s Oregon and Idaho sites will go live next in June.
- TigerConnect publishes a report titled “It’s Time To Modernize How Health Systems Connect.”
- Arcadia partners with Datavant to accelerate biopharma research.
- Optum partners with the Dallas Cowboys to host a mental health awareness event in Frisco May 9.
- Vocera publishes a report titled “Reimagining Nursing for the Future” by Chief Nursing Officer Rhonda Collins, RNP, RN.
- Quil publishes a new case study, “Penn Medicine Improves Discharge to Home Rates, Expands Partnership Systemwide with the Help of Quil.”
- TMC awards Talkdesk’s AI Trainer with its 2022 Customer Product of the Year award.
- Interbit Data will participate on MUSE in Dallas the week of May 15.
- TigerConnect sponsors the Nurses at the Heart of Healthcare Contest to recognize nursing professionals who have shown an unwavering commitment to their profession.
- TriNetX appoints Launch Therapeutics CEO Anshul Thakral to its Board of Directors.
- Healthcare Growth Partners publishes research titled “Seeking Balance in the Hyperactive Mental Health Tech Market.”
- Kyruus ProviderMatch for Consumers is named “Best Patient Registration & Scheduling Solution” by an independent marketing group.
- Twistle publishes a new case study featuring Ashley Clinic, “Controlling Blood Pressure with Remote Physiologic Monitoring.”
- WebPT has been certified as a Great Place to Work for 2022.
- Relatient, Change Healthcare, Experian Health, Myndshft, Well Health, and Vyne Medical will exhibit at NAHAM 2022 May 10-13 in San Diego.
- West Monroe hires Rissa Reddan (Equifax) as chief marketing officer.
- Wolters Kluwer Health will exhibit at the RISE Risk Adjustment Forum May 9-11 in Chicago.
- Zen Healthcare IT’s Gemini platform receives HITRUST CSF r2 Certification.
- “Clickbusters” can bust more than clicks (Nordic)
- 5 Tips for Hiring and Retaining Top Talent (Olive)
- The Top 5 Reasons Why Hospitals Should Optimize Patient Engagement (PatientBond)
- The Great Resignation: Key Takeaways (Pivot Point Consulting)
- Focus on Access Management for Safety in Healthcare (Symplr)
- 10 Years of MSSP: 2012 Fears Versus 2022 Realities (Part 2 of 2) (Premier)
- Three Qualities to Consider When Selecting a Healthcare Technology Partner (Protenus)
- Nurses are Calling for Innovation. Let’s Listen. (Vocera)
- Takeaways from the MTMI breast cancer risk assessment webinar (Volpara Health)
- It’s All Up from Here: Advancing Our Profession Through Next-Level Data Intelligence (WebPT)