Whittier, Calif.-based non-profit healthcare provider PIH Health revealed that it has chosen Allscripts Healthcare Solutions’ (MDRX - Analyst Report) Sunrise suite as the electronic health record (EHR) system for its recently acquired 199-bed care facility in Downey, renamed as PIH Health Hospital – Downey.
The reason behind choosing Allscripts Healthcare Solutions’ Sunrise suite is its integrated, interoperable and innovative care coordination, open platform and population health capabilities.
PIH Health operates two hospitals, a number of outpatient medical offices, a multi-specialty medical group, and home health and hospice care. It looks after more than 1.5 million people residing in the Los Angeles and Orange County, and San Gabriel Valley.
In order to extend relationship with MDRX, PIH Health has also added licenses for additional products and services and extended its enterprise-wide hosting and managed services contract with Allscripts till 2020.
As part of the deal, PIH Health will deploy most of the Allscripts Acute and Ambulatory product suite including Sunrise, Enterprise, dbMotion, FollowMyHealth patient portal and Care Management solutions. The deal is expected to generate $120 million of incremental revenues to Allscripts Healthcare Solutions over its tenure.
Apart from PIH Health, Appalachian Regional Healthcare System in the High Country and South Australian government’s health department, SA Health, have also implemented Allscripts Healthcare Solutions’ Sunrise Clinical Manager (SCM) EHR system in the recent past.
Allscripts Healthcare Solutions posted a significant fall in adjusted earnings to $2.2 million or a penny per share in the second quarter of 2013 from $23.1 million or 13 cents in the comparable quarter of 2012. With this, earnings also missed the Zacks Consensus Estimate of 7 cents for the quarter.
Revenues in the quarter ebbed 6.8% to $344.8 million, again missing the Zacks Consensus Estimate of $358 million. The decrease can be attributable to lower revenues generated from all the operating segments.
Currently, MDRX retains a Zacks Rank #3 (Hold). While we remain on the sidelines about the company, there are no other stocks in the medical information systems industry that worth a look.
However, we can consider stocks from the medical products industry such as Trinity Biotech plc (TRIB - Snapshot Report) with a Zacks Rank #1 (Strong Buy), and Advaxis, Inc. (ADXS), and Boston Scientific Corp. (BSX - Analyst Report), both with a Zacks Rank #2 (Buy).