Allscripts Healthcare Solutions
) revealed that it has expanded its partnership with academic
medical center and the University Hospital for Albert Einstein
College of Medicine, Montefiore Health System for offering its
Electronic Health Record (EHR) solutions to the latter's recently
acquired New Rochelle and Mount Vernon hospitals in New York.
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Under the new agreement, MDRX will upgrade the two hospitals with
its Allscripts Sunrise 6.1 Integrated Electronic Health Record as
well as the Sunrise Clinical Analytics, Sunrise Radiology, and
Sunrise Laboratory. The company will also implement Allscripts
FollowMyHealth patient engagement solution at the two hospitals
under the same agreement.
Montefiore Health System operates six hospitals and an extended
care facility having a total of 2,059 beds. It also provides
primary and specialty care through more than 150 locations across
the U.S., including the largest school health program and a home
The good thing about Allscripts Sunrise 6.1 solution is that it
enables clinicians meet Meaningful Use Stage 1 and 2 requirements
and help managing ICD-10 code sets. On the other hand, Allscripts
FollowMyHealth patient engagement solution helps health care
providers gain access to an online patient portal and enables
exchange of critical patient data that can empower patients to
proactively manage their health.
Allscripts' Sunrise Suite is a well known product among
healthcare providers in the U.S. In the recent past,
Pennsylvania-based Heritage Valley Health System,
California-based non-profit healthcare provider PIH Health, as
well as Australia's Appalachian Regional Healthcare System have
implemented the Sunrise solutions in their hospitals.
MDRX posted a significant fall in adjusted earnings to $1.4
million or a penny per share in the third quarter of 2013 from
$31.9 million or 19 cents in the comparable quarter of 2012. With
this, earnings also missed the Zacks Consensus Estimate of 4
cents for the quarter.
Revenues in the quarter ebbed 8.5% to $330.2 million, while after
considering deferred revenues and other adjustments, revenues
stood at $334.2 million, up 7.4% from the prior-year quarter.
With this, revenues also missed the Zacks Consensus Estimate of
$355 million. The decrease can be attributable to lower revenues
generated from all the operating segments.
Currently, Allscripts Healthcare retains a Zacks Rank #3 (Hold).
Since we consider no other stocks from the medical information
systems as favorable at this moment, we can take a look at some
medical products stock that are doing well. They include
Hill-Rom Holdings, Inc.
INSYS Therapeutics, Inc.
). All of them carry a Zacks Rank #1 (Strong Buy).