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90% of Doctors Expect to Have EHR Within 3 Years per USA Today

@ElinoreBoeke – Elinore Boeke
90% of surveyed doctors expect to have EHRs within three years usat.ly/tSgBNG #HealthIT #EHR via @USATODAY

The survey also sets EHR adoption at 46% and quotes someone saying there are 1000 EHR software vendors out there. Well, I think all of those numbers are way off.

First, expect that doctors won’t meet their expectations cause 90% of doctors won’t have EHR within 3 years.

Second, I think we’re closer to 25-30% adoption. 46% probably includes a lot of people who have a PMS, but no real EMR. Maybe they do 1 or 2 small EHR like function.

Third, 1000 EHR software vendors, really? Even if you expand to things like ePrescribing I’d put the number closer to 600. If you take out the partial EHR software companies, I think it’s closer to 300. Granted, there are more and more EHR software coming out each day.

November 30, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Fred Wilson on Healthcare IT Investment

One of my favorite venture capitalist bloggers (yes, I’m a nerd like that) is Fred Wilson from Union Square Ventures. He’s been posting something like every day for the past 10 years or something close to that. I’m sure I take a lot of my blogging style from him which is funny since I mostly write about EMR and healthcare IT, but I’m only at 6 years of blogging. [Excuse the digression]

Anyway, yesterday Fred wrote a post about his view of Healthcare investment. Being in the healthcare IT world where he’d want to invest I read with keen interest to hear his thoughts. The first and last paragraph of his post sums up his position on healthcare investing:

A few weeks ago, I met with a VC who has been investing in healthcare for over 30 years. He asked if we invested in healthcare and I told him that we’d like to but we don’t really know how to fit it into our investment thesis which is focused on large networks of engaged users disrupting large markets. Clearly healthcare is a large market, possibly the largest measured as a percent of GDP. But we haven’t seen many large networks of engaged users emerging in healthcare.

It is likely that we’ll be doing more looking and studying and less investing in healthcare for a while (as we did in education). But I’m hopeful that entrepreneurs, industry observers, and of course all of you, will help us develop a thesis that allows us to start investing in healthcare. Like education, it feels like a market where you can make strong returns and also help facilitate important and needed changes.

Fred does clarify in his post that there are probably a lot of great healthcare IT investment opportunities out there, but that doesn’t mean that those opportunities meet the investment thesis for their VC investment portfolio.

I left my gut reaction to Fred’s post in the comments as follows:

One challenge with your investment thesis for healthcare is that healthcare is somewhat unique in that a HUGE amount of market power (see pharma, other medical procedures) is held by such a small number of people (see doctors). So, there’s a huge market, but there’s not a huge number of users to engage. Of course, there’s still the consumer (patient) side where you could have the large engaged users. Plus, patients are slowly becoming more engaged in their healthcare.

As a side note, I’ve started kicking around the idea of hosting a Healthcare “Disrupt” for healthcare IT companies to pitch their companies. Could be a great place to continue your research.

Fred then replied:

yes, that consolidation of market power is the primary reason we have avoided healthcare to date

As I’ve thought more about the consolidation of market power, healthcare is not completely unique in this but it does make for an interesting dynamic that doesn’t exist in a lot of consumer applications which Fred Wilson usually focuses on. Although, the patients getting involved could swing that pendulum the other way enough to get Fred Wilson and similar investors to start investing in healthcare.

Also, I’m dead serious about the idea of doing a Healthcare “Disrupt” like conference. We’ll see if we can get all the right people in place to make it happen.

November 28, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

EHR Related Stocks Up 82% Since EHR Stimulus Package

If you’re like me and work in the healthcare IT industry, you know that we’re in a really amazing environment right now. Turns out, healthcare IT related companies are enjoying the EHR stimulus money from the HITECH act as much or more than anyone else.

In an analysis by USA Today, they found that since 2009, the healthcare IT related companies stock value increased by an average of 82%. 11 of the 45 companies they analyzed they increased by a combined total of at least $20 billion since the HITECH act was passed.

They also break down how much each healthcare IT and EHR related stock increased since the HITECH act took effect:

  • 194% for Cerner;
  • 134% for Allscripts Healthcare Solutions;
  • 105% for Computer Programs and Systems;
  • 105% for McKesson;
  • 96% for Siemens;
  • 89% for UnitedHealth Group;
  • 83% for Accenture;
  • 55% for athenahealth;
  • 51% for Dell;
  • 34% for General Electric.
  • During that time, the stock value for Quality Systems dropped by 3%

Some pretty amazing numbers. Plus, it’s interesting to think that the stimulus money is just getting started. Greenway EHR users have gotten $5 million and Cerner EHR users have gotten well over $2.2 million in EHR incentive money.

I’m not stock analyst, but I’m sure these stocks will continue to grow in this frothy healthcare IT environment.

November 22, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Greenway Medical Users Get $5 Million in EHR Incentive Money


Still tallying but @ customers have received almost $5 Million in #EHR #MeaningfulUse Incentives @ #HealthIT #EMR
@HITAdvisor
Justin Barnes

Back at the end of August I posted the Cerner EHR incentive money total at $2.2 Million. No doubt that’s a lot higher now. However, it’s interesting to compare the totals of Cerner’s EHR incentive money and Greenway’s EHR incentive money.

If you know of other EHR incentive money numbers that are published, please let me know.

November 21, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Office Practicum (Connexin) EHR Gets $6 Million Investment from Bluff Point Associates

The news just came out that Office Practicum EHR, created by Connexin Software, has gotten a $6 million investment from Bluff Point Associates:

Connexin Software, Inc., publisher of the industry-leading Office Practicum® pediatric electronic health records (EHR/EMR) and practice management (PM) system, today announced that it has received a multi-million dollar strategic investment from Bluff Point Associates, a Connecticut-based private equity firm.

Looks like we can add this EMR investment to our list of EMR and healthcare IT investments in 2011. I find it interesting that Office Practicum EMR has been able to make their way as a specialty specific EMR. I’ve longed believed in the specialty specific EHR approach. This is even more important when we’re talking about certain specialties such as pediatrics and OB/GYN which have quite different care needs.

I predict we’ll see more and more investments in specialty specific EHR companies like this one.

November 18, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Video of Meaningful Yoose Rap at ONC Meeting

Word’s gotten out that the ONC meeting really got down to business and did a bunch of great work today. See this video of Aneesh Chopra and Farzad Mostashari getting down to what looks like maybe the ONC staff doing Ross Martin’s Meaningful Yoose rap.

Note: I tried to embed the video, but that doesn’t seem to be working. So, here’s a link to the video.

All kidding aside, I think it’s great that they did this at the ONC Meeting. Sometimes the people at ONC have to take things far too seriously. It’s like they’re not even human. Here’s a link to see the original Meaningful Yoose rap by Ross Martin.

November 17, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

List of Healthcare IT Investments in 2011

On EMR Thoughts I’m always interested in taking a look at the various market trends happening in the healthcare IT space. So, I was pretty excited when I found a great spreadsheet by RockHealth that lists the venture funded health tech companies in 2011.

The list has 41 companies with $457.81 million in funding. Not to bad for healthcare IT. Plus, I know that there missing some of the other healthcare IT investment that happened in 2011. For example, CareCloud got a $20 million investment and they’re not found on the list. Plus, this list only looks at investments over $2 million. From what I’ve seen the smaller investments in healthcare IT have been really large.

Now for a look at the 41 companies that are on the RockHealth spreadsheet. It’s great to look at the various companies in healthcare IT that are getting money. Definitely some really interesting companies on this list.

ABILITY Network – $27M – Web-based healthcare network connecting providers and Medicare
Adflow Health Networks – $2.5M – Personal health kiosk
Alliance Healthcare Networks – $11M – Performance online marketing for healthcare
AssureRX – $19M – Medical platform technologies in various therapeutic areas
Avisena – $2.5M – Revenue cycle management and practice management solutions for healthcare organizaions
Awarepoint – $27M – workflow automation and tracking solutions to the acute care hospital marketplace
Azumio – $2.5M – Smart phone heart rate monitor
BAM Labs – $2.4M – Sleep monitoring device
Basis – $9M – Basis Band – heart rate monitor and activity monitor
BL Healthcare – $5M – Remote health management solutions
Digital Assent LLC – $7.5M – Patient check-in
Doximity, Inc. – $10.8M – Professional networking for physicians
EGHC – $61M – Diverse software and service offerings for healthcare and insurance delivery
Explorys, Inc. – $11.5M – Big Data for healthcare
Forerun, Inc. – $2M – Physician documentation for Emergency Medicine
goBalto – $5M – new generation web-based solutions that simplify how clinical trials are conducted in the pharmaceutical, biotechnology and medical device industries
Health Guru – $6M – Health videos for web
Healthrageous – $2.5M – Personal connected health
HealthTap, Inc. – $2.35M – Website for patients to find health information
HealthTeacher – $5.27M – Online health curricula for K12 teachers and health educators
Humedica, Inc. – $20M – Clinical informatics for hospitals, ambulatory, and life science organizations
Jan Medical, Inc. – $3.15M – Device to detect ischemic stroke
Kareo – $10M – Cloud-based practice management and medical billing software
Kyruus, Inc. – $5.5M – Big data analytics
Lumos Labs, Inc. (Lumosity) – $32.5M – Online tool for cognitive enhancement
Massive Health, Inc. – $2.25M – Chronic disease management
Modernizing Medicine, Inc. – $7.14M – Electronic medical assistant for dermatologists
MotherKnows – $3.3M – Child online health record for parents
My Health Direct, Inc. – $4M – Doctor-facing OpenTable for appointment management
Net Orange – $5M – Healthcare supply chain management.
OPTIMIZERx – $10M – Platform for health co-pay coupons, rebates and other prescription savings offers and information
Practice Fusion, Inc. – $23M – EMR marketed to doctors and groups
Resilient Network Systems, Inc. – $5M – Cloud computing, information sharing
Rethink Autism – $2.5M – Web-based autism training, assessment, and management
Sermo – $3.5M – Social network for doctors
Sharecare, Inc. – $8.75M – Quora for health
Teledoc – $18.6M – Telephone medical consultation services
Truveris – $3.8M – Health IT for managers of prescription benefit plans and payers under these plans
Vitals.com (MDx Medical) – $12M – Online services enabling people to rate their doctor, book physician appointments and compare costs of medical procedures
Wellfount, Corp. – $6M – Medication dispensing system
ZocDoc – $50M – Open Table for doctors and dentists

November 15, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Transitioning to Health IT Jobs

I’ve made the transition to health IT relatively recently. In May that I started doing some contract work as tech writer for a health IT vendor, then looked around for health IT related gigs – if there was a business analyst or tech writer posted in the DC/Baltimore area on Craigslist or Monster, you can bet that my resume was in there somewhere. It took me a good two months of searching to land my current job (and after two months of email after email saying “sorry, your resume didn’t make the cut”, I got three job offers in the same week – true story.) This is what I’ve learned along the way:

1) Having health-care related credentials helps: It can be anything – a degree, college coursework, actual paying jobs or volunteer positions you’ve held. In my case, I had a B.S. in pharmacy with a minor in IT, and a masters in Communication, so it seemed as if a health IT tech writer gig would be perfect for me. I believe that adding the “My undergrad major was pharmacy” in my cover letters was the phrase that opened doors for me.

2) Volunteer: I have mixed feelings about this piece of advice. It’s a well known secret that employers want certifications in vendor-specific products in the candidates they shortlist, which makes it something of an impossibility for regular IT folks looking to transfer to health IT.

On the HIMSS blog, there was a really interesting discussion from some time ago on healthcare employers not getting enough trained health IT people. The comment section was really enlightening – a commenter said “I’d like to share a little known secret: many hospital employees, IT included, are hired as a result of volunteer activities at the very same hospital that he or she volunteered at.”

Someone else commented that “An open secret in the NPO world is that they get many person hours donated with the unstated goal of being hired but no person ever actually receives employment. Especially in towns with many colleges and universities, some NPOs glean many free person hours from students and depend on the myth that all NPOs hire this way.”

So in effect: you might get a paid health IT gig after volunteering at a hospital or similar setting, but such NPOs are also the most liable to take advantage of you by dangling the job carrot before you. Also volunteering when you’re a newbie to the workforce might make sense, but I’d really love to see how that might help a mid-career IT person with a few years of experience under her belt, and with mouths to feed at home. I’m not discounting it entirely, but I’d do my research (how many volunteers were actually hired, and so on).

3) Hone up on healthcare concepts skills: HIMSS has a great repository Health IT Body of Knowledge. Read some blogs, follow the #EMR #EHR twitter feeds, or check out the thought leaders on Quora. Figure out which aspect of health IT interests you – is it the mobile apps sector, or EMR product development?

4) Learn from the greats: I really lucked out that I got some great health IT mentors this year who worked with me into turning the raw ingredients of my healthcare knowledge into something semi-cooked. And this is true of any area where you’re a learner – the more you show your enthusiasm for something, the more people are willing to teach you what they know. If there’s someone in your office or friends circle who is a walking encyclopedia of anything health IT, talk to them, and ask for their advice. If you don’t know any such person, make online relationships by commenting on blogs or following conversations on twitter. Read what the greats read, engage them in conversations. Knowledge osmosis will take care of the rest.

November 14, 2011 I Written By

Priya Ramachandran is a Maryland based freelance writer. In a former life, she wrote software code and managed Sarbanes Oxley related audits for IT departments. She now writes about healthcare, science and technology as well as traditional news features.

Practice Fusion User Conference Streamed Live

I actually love to participate in EMR user conferences. I love them most in person since then I get to talk to the actual users of the software and get the real low down on what it’s like to use that EHR software. In fact, if you have a chance to go to the user conference for an EHR software before you implement it, that can be extremely valuable.

While you won’t get the benefit of interacting with attendees, I’m happy that Practice Fusion Connect 2011 (the Practice Fusion user conference) is being streamed live (see embed below):

They could do better with the camera angle, but I applaud an EHR vendor that makes this stuff publicly available. Now time to go and check out the #pfconnect hash tag to meet users that way. Almost as good as in person.

November 11, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

iPad Adoption in Healthcare in 18 Months

I forgot that I had the following tweet stored in my draft posts. I’m sure you’ll find it as interesting as I did:


footnote: ipads did not exist 18 months ago. Context for 35% share of doctor adoption. #health2con Look forward!!
@2healthguru
Gregg Masters

That’s really amazing to consider. I guess this idea fed into my post about The Must Have iPad Interface post and the follow up iPad EMR Opportunity.

November 10, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.