Portland-Maine based Mercy Health System revealed that it has chosen Allscripts Healthcare Solutions’ (MDRX - Analyst Report) Revenue Cycle Management (RCM) services in order to improve their reimbursement processes at a lower cost and reduced implementation time. RCM services provide a complete revenue management solution from front office to back office processing and patient collections.
As managing the revenue cycle and collecting full payments from patients have become increasingly challenging, Allscripts' RCM services that combine MDRX’s revenue cycle technology with expert professional services become useful. Through RCM Services, Allscripts professionals will manage collections to reduce reimbursement problems as well as assist in capturing complete payments.
Mercy Health System has 160 caregivers, spread across 26 locations in Portland and southeastern Maine. It already uses Allscripts Healthcare Solutions’ Enterprise Electronic Health Record and Practice Management.
A few days back, N.C.-based Appalachian Regional Healthcare System announced that it has implemented Allscripts Healthcare Solutions’ Electronic Health Record (EHR) system known as Sunrise Clinical Manager (SCM). SCM will help Appalachian maintain integrated patient records with the same graphical interface across the health system.
Appalachian Regional Healthcare System is a leading healthcare provider in the High Country. Its EHR system covers three hospitals, including Blowing Rock Hospital in Blowing Rock, Charles A. Cannon, Jr. Memorial Hospital in Linville and Watauga Medical Center in Boone. It also includes a physician practice management group, Appalachian Regional Medical Associates and Appalachian Regional Healthcare Foundation.
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 per share in the comparable quarter of 2012. With this, earnings also missed the Zacks Consensus Estimate of 7 cents for the quarter.
On a reported basis, MDRX Solutions incurred a loss of $22.9 million or 13 cents per share compared with earnings of $8.0 million or 4 cents per share in the second quarter of 2012.
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.
Allscripts Healthcare Solutions, a Zacks Rank #4 (Sell) stock, is a leading clinical software and information solutions provider for physicians. The company serves approximately 180,000 physician practices, 1,500 hospitals, and 10,000 post acute care facilities.
While we avoid MDRX, other stocks that are performing well in the medical products industry include Hanger, Inc. and Alere Inc. , both with a Zacks Rank #1 (Strong Buy), and in the medical information systems industry such as Medidata Solutions, Inc. (MDSO - Snapshot Report) , with a Zacks Rank #2 (Buy).