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ONC Health IT Infographic

These are some really interesting numbers. The one that hit me is the percentage of doctors and hospitals which were meaningful users of an EHR. We’ll see how that percentage changes over time. No doubt EHR has made huge progress since the EHR incentive money was put in place.

ONC Health IT Infographic

September 25, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.

Thoughts on Practice Fusion Raising $70 Million

Today, Practice Fusion announced that they have just closed a $70 million round of funding. This series D round of funding brings Practice Fusion’s total funding to $134 million and a valuation estimated at $700 million. The round was led by Kleiner Perkins Caufield & Byers, OrbiMed Advisors, and Deerfield Management Company.

We’d heard that this round was close almost 2 months ago. I’m not sure what took them so long to finally close the round. I also found it interesting in this Forbes article about the funding round that “Practice Fusion leads vendors this year in acquiring Allscripts’ former customers.” I have a feeling Aprima might have something to say about that.

In that same article, Practice Fusion declined to disclose revenues, but Ryan Howard suggested that he expects Practice Fusion revenues to triple next year. Then, it was suggested in the article that payments from labs connected to Practice Fusion customers would make up a significant source of revenue. You might remember that Practice Fusion lost one revenue stream when Kareo decided to launch their own free EHR. Practice Fusion has since rolled out 3 new billing companies and so they could have made up that revenue.

The article also suggests that revenue is available from Pharma for mining the Practice Fusion data for insights. Then, they’ve always talked about the potential for pharma advertising in the Free EHR. I also had someone suggest to me recently that Practice Fusion could be making money off of selling leads to the various healthcare education companies out there. Considering the number of emails I get from these healthcare education companies, they definitely have money to spend on targeted leads.

The question I’ve asked for many years isn’t whether Practice Fusion has created value. No doubt their current user base and data set has value. The question that remains is whether they’ve created a company that merits a $700 million valuation and whether the $134 million investment will yield a quality return. Plus, can Practice Fusion build the company’s revenue while still maintaining physicians’ trust in Practice Fusion. They now have $70 million in funding to find out.

September 24, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.

2014 Health IT Spending to Pass $34 Billion

Healthcare IT spending will increase to more than $34.5 billion in 2014, according to a new report from a Hampton, N.H.-based research and consulting firm.

Technology Business Research Inc. says that the spending will come as payers and providers look to build infrastructure modernization that meets regulatory mandates such as Meaningful Use of electronic health records (EHRs) under the Health Information Technology for Economic and Clinical Health (HITECH) Act and the transition to ICD-10. -Source

We certainly all knew that health IT spending was up. I’m sure that much of the spending is driven by the various government programs like meaningful use and ICD-10. The article linked above had one survey respondent say that their ICD-10 budget was $2.5 million. I expect this health IT spending trend will continue. Although, we’re entering a different category of customer going forward.

I wonder how that spending is broken out between enterprise spending and consumer health IT.

August 30, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.

Modernizing Medicine EHR Vendor Raises $14 Million

Modernizing Medicine®, the creator of the Electronic Medical Assistant® (EMA™), a cloud-based specialty-specific electronic medical record (EMR) system, announced today that it has received $14 million from Summit Partners, a global growth equity investor. -Source

I’ve been a big fan of Modernizing Medicine since I first came across them. Their approach to EHR is very smart and very different than many of the EHR software out there. They’re extremely focused on the specialties that work well with their visual method of documentation and that documentation method is something unique.

I’ll be interested to see if Modernizing Medicine plans to use this $14 million to expand beyond their current specialties or whether they plan to stay as a specialty specific EHR. I’m a big fan of specialty specific EHR software and so I hope that it’s the later. You have to compromise so many things when you expand an EHR to support so many different specialties. The number of doctors still not using Modernizing Medicine’s EMA EMR is still large enough for them to do very well.

August 20, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.

Report to Congress on Health IT Adoption and HIE

ONC recently posted the “Update on the Adoption of Health Information Technology and Related Efforts to Facilitate the Electronic Use and Exchange of Information.” The report provides updates on the adoption of health IT from January 1, 2012 to April 30, 2013. The report also describes CMS’ and ONC’s efforts to facilitate the nationwide adoption and exchange of electronic health information, identifies and discusses barriers to the adoption and exchange of electronic clinical data, and how HHS’ programs are helping to address those barriers.

Here’s the full PDF report.

These reports are always interesting, because they focus on all the very best angles for the data. Looking at the report it would seem that everything is happily moving along in the EHR adoption world and that we’re almost done with the implementation of EHR. Unfortunately, the reality is very different. We have made huge progress in adoption of EHR, but we still have a long way to go in use of EHR.

I also wish the report would have put more focus on the exchange of health information. I imagine they didn’t want to do so, because the numbers there are pretty bleak. We still have a long way to go and if they put the numbers out there for it, it would not be pretty.

I was intrigued by the final paragraph in the document. It basically suggests that healthcare IT is going to play an important role in the shift of how we pay for healthcare. This is a great question. Could the shift in healthcare payments happen without healthcare IT?

June 27, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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 Consolidation and EHR Investment News

A couple big announcements came out this week that are continuing to shake up the EHR market. Most people consider this a really good thing when you look at the 300+ EHR companies in the market today. Most see this as unhealthy and a real issue for healthcare. No doubt it causes problems, not the least of which is the paradox of choice.

The first announcement was that Vitera Healthcare Solutions acquired SuccessEHS. Vitera is the new name for the SAGE EHR which they bought from Sage Software in 2011 for those tracking the EHR histories.

In the press release it says that the combined organizations serve “more than 10,500 medical organizations and over 415,000 medical professionals nationwide — including more than 85,000 physicians.” I was also interested to see Vitera’s emphasis on expanding their customer base in CHCs, Student Health Centers, HIV/AIDS Clinics, and FQHC.

I asked the company if there were any plans to sunset one of the competing EHR software platforms. They responded that they “plan to keep both EHR systems and keep developing both of them.” Of course, the acquisition was just announced, so that doesn’t mean in 3-6 months they may compare the EHR systems and make a different decision in the future.

The second announcement was CareCloud EHR raising $20 million. That brings CareCloud’s total funding to $44 million. Ever since I first met Albert Santalo, CEO of CareCloud, he said that he wasn’t looking for the early exit. Instead, he wanted to build CareCloud into a long term company. I expect this extra $20 million will let him and CareCloud really swing for the fences.

Also, I literally just got an email from another EHR vendor that’s in the process of being acquired. I can’t say who the company is until it’s official, but it seems that EHR consolidation is happening. Either that or the companies are taking on funding to try and last for the long term.

June 18, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.

Extormity Announces Oh Well Initiative, Plans to Interoperate with Itself

The great people at Extormity have put out another great announcement (embedded below). They’re really taking healthcare interoperability to a new level with their ability to share health records at “distances up to 65 feet.” The satire is terrible since there are still many EHR vendors that can’t share data even that far.

Enjoy the great write up!

Extormity Announces Oh Well Initiative, Plans to Interoperate with Itself

On the heels of the HIMSS conference, electronic health record vendor Extormity today announced that it will begin making its own solutions interoperable as part of what calls its Oh Well effort.

“It has become increasingly clear that interoperability is a buzzword we must pay attention to,” said Extormity CEO Brantley Whittington from a corporate planning retreat in Monaco. “Our attitude is ‘Oh Well’ we clearly have to make a token gesture, so we are planning to make every Extormity application interoperable at distances up to 65 feet.”

“What separates this initiative from other relatively banal announcements we have made in the past is the fact that this level of interoperability will no longer require complex and time-consuming integration,” added Whittington. “The only customer requirement is a sizable check.”

Extormity also announced that it has reserved more than 50 percent of the exhibit space for HIMSS14 in Orlando. “In the past, we have been low key at HIMSS, preferring to host lavish off-site parties,” said Whittington. “Next year, we are doing an about face and we plan to own the conference. As attendees enter our booth, they will find themselves trapped in a maze that is all but impossible to escape without signing an agreement. However, there will be jumbo shrimp, cocktails and constant entertainment by 80′s arena bands with at least one original member.”

About Extormity

Extormity is an electronic health records mega-corporation dedicated to offering highly proprietary, difficult to customize and prohibitively expensive healthcare IT solutions. Our flagship product, the Extormity EMR Software Suite, was recently voted “Most Complex” by readers of a leading healthcare industry publication. Learn more at www.extormity.com

March 18, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.

HIMSS13 Healthcare IT Leadership Survey Infographic

The 2013 HIMSS annual conference is complete. There were 33,920 total attendees and 13,585 professional attendees at the event and I heard over 1200 exhibitors. Some pretty amazing numbers. The attendees is lower than last year in Las Vegas, but the exhibitors are up. I’ll be interested to see how those numbers play out with HIMSS 2014 in Orlando.

At the conference HIMSS put out it’s 24th Annual HIMSS Leadership Survey results and shared the inforgraphic below.
HIMSS Leadership Survey Infographic

March 7, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.

AthenaHealth (NASDAQ: ATHN) Acquires Epocrates (Nasdaq: EPOC)

It was just announced that AthenaHealth plans to acquire Epocrates. This is a big move by AthenaHealth and a really smart one. Here are the details of the agreement for AthenaHealth to acquire Epocrates from the press release:

The board of directors of each of athenahealth and Epocrates has agreed to a price of $11.75 per share, in cash, for an aggregate purchase price of approximately $293 million. The purchase price represents a 22 percent premium over the closing price per share of Epocrates on NASDAQ on Friday, January 4, 2013. This is an all-cash offer for all outstanding shares of Epocrates’ common stock, and athenahealth intends to finance this acquisition using available cash and funds available from its existing credit facility. The closing of the transaction is subject to the approval of Epocrates shareholders and other customary closing conditions and is currently expected to occur early in the second quarter of 2013. Epocrates shareholders representing approximately 17.5% of the outstanding common stock have agreed to vote their shares in favor of the transaction.

Of course, there are still a number of regulatory hurdles that must be overcome to make the transaction final, but this looks like it’s going to happen. Considering Epocrates stock price was so low after their initial IPO, this isn’t really a surprise. Plus, once Epocrates shut down their EHR business it presented a great opportunity for another EHR vendor to come in and capitalize on Epocrates relationships with the doctors. In fact, Jonathan Bush describes the value of the Epocrates brand really well:

“I have been an admirer of Epocrates since it first emerged and have watched the company grow consistently, one app download at a time, as it has cemented itself into the consciousness of America’s physicians. No other company has been able to replicate the brand awareness, familiarity, and trust that Epocrates has across the clinical mobile user base. We are confident that we can provide Epocrates with the stewardship and resources it needs to grow and develop within health care, and that Epocrates’ capabilities are going to mesh exceptionally well with athenahealth’s cloud-based physician and patient services.”

I’ll be interested to see how AthenaHealth chooses to integrate the Epocrates knowledge base within its EHR and how they use the Epocrates relationship to sale their EHR to doctors. Will the Jonathan Bush cloud mantra take hold in the Epocrates culture? I’ll be interested to watch that transition.

January 7, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.

Glen Tullman Steps Down as CEO of Allscripts (NASDAQ:MDRX)

The news is just coming out that Glen Tullman has stepped down as CEO of Allscripts (NASDAQ:MDRX) along with Allscripts President Lee Shapiro.

Paul M. Black has been selected by the Allscripts board as the new President and CEO. Mr. Black was COO at Cerner for 12 years before he retired from Cerner in 2007. He has served on the Board of The Truman Medical Centers for 12 years, most recently as Chairman, and as a director of Haemonetics Corporation (NYSE:HAE). Plus, Mr. Black is currently sitting on the board of Allscripts.

It’s an understatement to say that it’s been an incredibly tumultuous year for Allscripts. Allscripts chose to discontinue their Allscripts MyWay EHR, Allscripts sued NYC after losing an EHR deal, and then Allscripts started looking for a private equity buyer.

This latest round of firings was predicted by Anne Zieger when she wrote about the previous Allscripts Management Shakeup and the investors desire to fire Glen Tullman a while ago.

I imagine the board was waiting to see if any of the strategic alternatives (ie. Private Equity buyouts) could save Glen’s job, but Allscripts also announced that “the Board has formally concluded its evaluation of strategic alternatives.”

Usually there’s a lot of shakeup after a change like this, but Allscripts EHR users have already been through a lot. It will be interesting to see what Mr. Black does with Allscripts going forward.

Here’s the details of the Conference Call that will be held tomorrow about the changes:

Conference Call

Allscripts will conduct a conference call tomorrow, Thursday, December 20, 2012, at 8:30 AM Eastern Time to discuss today’s announcement. Investors can access the conference via the Internet at http://investor.allscripts.com. Participants also may access the conference call by dialing (877) 303-0543 (toll free in the US) or (973) 935-8787 (international) and requesting Conference ID #83012880.

A replay of the call will be available two hours after the conclusion of the call, for a period of four weeks, at http://www.allscripts.com or by calling (855) 859-2056 or (404) 537-3406 – Conference ID #83012880.

December 19, 2012 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John 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.