ADVFN - Advanced Financial Network.
HOME» NASDAQ » Q » QSII Stock Price » QSII Stock News

Quality Systems Share News

 Quality Systems (mm) Stock Price
QSII Stock Price
 Quality Systems (mm) Stock Chart
QSII Stock Chart
 Quality Systems (mm) Stock News
QSII Stock News
 Quality Systems (mm) Company Information
QSII Company Information
 Quality Systems (mm) Stock Trades
QSII Stock Trades

Athenahealth Looks To 'Burn Unit' For Medical-Records Business

By Steven Russolillo Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- As the U.S. government plans to spend billions to light a fire under the business of electronic medical records, Athenahealth Inc. (ATHN) has created its own "burn unit." Hospitals and medical practices are looking to update their electronic medical record systems, spurred in part by the government's offering to spend $27.4 billion in this area over the next decade. Athenahealth, however, says much of that investment is being wasted on old-legacy technology that will be obsolete sooner rather than later. "There obviously was a frantic, blind buying spree that we think is more or less coming to a close," Athenahealth Chairman and Chief Executive Jonathan Bush said Wednesday in an interview. Athenahealth is a provider of Internet-based health-care services that automate certain back-office tasks like billing and medical records. "The next big thing I'm seeing is the bog down," he said, referring to the amount of medical practices that are installing EMR systems only to find physicians are finding them too complex to use. As a result, Athenahealth established a unit to help groups that haven't had success with their EMR systems. Athenahealth is now attempting to convert these groups to its own cloud-based system. About 35% of Athenahealth's new EMR business comes from companies that have previously had digitized systems, according to Bush. "Lots of these EMRs are very old, software-type products that are being sold by very old vendors," he said. Athenahealth's approach to the unit involves coming in, shutting down the original systems, extracting data and putting information on its own cloud-based system. Once Athenahealth converts an EMR, the company takes a "velvet rope" approach to involvement by physicians, who don't necessarily have to learn how to use the system. Receptionists can use the system to check patients in and out. Nurses, with a physician's approval, can place orders. Doctors steer clear of the EMR system if they choose, instead continuing to either draw charts or diagrams to document clinical visits. Athenahealth is then responsible for scanning them into its own system. Bush described the viability of the system, but he acknowledged the biggest factor plaguing the company is visibility. "Most doctors don't know we exist, and most hospitals don't know we exist," he said. Athenahealth attempts to differentiate itself from its competition by offering open, cloud-based health-care services intended to encourage communication among all parties, such as hospitals, physicians and patients. The company recently formed an alliance with Microsoft Corp. (MSFT) that connects its services, including AthenaClinicals and AthenaCollector, with Microsoft Amalga, an enterprise health intelligence platform. Athenahealth shares closed Wednesday up 3.3% at $45.84. The stock has more than doubled since July and hit an all-time high of $50.56 in February. The company has a $1.6 billion market capitalization and trades at 59 times expected earnings, which is more expensive than competitors Allscripts Healthcare Solutions Inc. (MDRX) and Quality Systems Inc. (QSII), according to FactSet Research. -By Steven Russolillo, Dow Jones Newswires; 212-416-2180; [email protected] --Katherine Hobson contributed to this report.

Stock News for Quality Systems (QSII)
03/08/201708:30:00Headaches of Hospital Leaders Validate Need for Health Care Data...
02/20/201708:00:00NextGen Healthcare Announces No Fee Version of NDSC’s CareSelect™ Ima...
02/13/201706:26:05Amended Statement of Ownership (sc 13g/a)
02/09/201715:12:59Amended Statement of Ownership (sc 13g/a)
01/31/201710:17:00NextGen Healthcare Practice Management Solution Earns KLAS Award
01/26/201706:02:09Quarterly Report (10-q)
01/25/201717:29:09Amended Statement of Ownership (sc 13g/a)
01/25/201716:17:13Current Report Filing (8-k)
01/25/201716:15:00Quality Systems, Inc. Reports Fiscal 2017 Third Quarter Results
01/18/201714:00:00Quality Systems, Inc. to Host Fiscal 2017 Third Quarter Results...
01/03/201718:08:33Statement of Changes in Beneficial Ownership (4)
01/03/201718:03:59Statement of Changes in Beneficial Ownership (4)
01/03/201718:03:05Statement of Changes in Beneficial Ownership (4)
01/03/201718:03:05Statement of Changes in Beneficial Ownership (4)
01/03/201718:02:11Statement of Changes in Beneficial Ownership (4)
01/03/201717:58:15Statement of Changes in Beneficial Ownership (4)
01/03/201707:02:25Current Report Filing (8-k)
12/20/201610:30:00Quality Systems, Inc. to Present at the 35th Annual J.P. Morgan...
11/21/201614:00:00Quality Systems, Inc. to Present at the 28th Annual Piper Jaffray...
11/07/201611:00:00NextGen Healthcare Helps Clients Prepare for Value-Based Care...

Quality Systems and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations