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Quality Systems, Inc. Discontinues NextGen Now in Favor of MediTouch Platform

IRVINE, Calif.–(BUSINESS WIRE)– Quality Systems, Inc. (NASDAQ:QSII) announced today its Board of Directors approved management’s recommendations for several strategic initiatives, the Company’s updated cloud strategy, a corporate restructuring and the initiation of financial guidance.

MediTouch® Based Cloud Strategy

Following several months of assessment of both the recently acquired MediTouch platform and the Company’s NextGen Now platform in development, management concluded that the MediTouch platform offers the most efficient path to providing a high-quality, robust, cloud-based solution for ambulatory care. As a result, the Company will cease further investment in NextGen Now and immediately discontinue all efforts to use or repurpose the NextGen Now platform. This assessment was conducted under the technology leadership of David Metcalfe, who joined the Company on February 1, 2016 as chief technology officer.

“The acquisition of the MediTouch platform accelerates our time-to-market with a cloud-based platform that already meets the needs of smaller practices. Our focus now will be to scale this solution to address the needs of enterprise-level organizations and larger practices,” stated Metcalfe.

As a result of this decision, Quality Systems’ fiscal fourth quarter and full-year results will reflect a pre-tax charge of approximately $32 million, relating to the impairment of the Company’s previously capitalized investment in NextGen Now. This charge did not result in, nor is it expected to result in, any additional cash expenditures.

Streamlined Corporate Structure

The Company also announced a restructuring plan, which will eliminate its business units in favor of a streamlined, functional-based organizational structure. This new structure will enable a more efficient, integrated and client-centered delivery of the holistic solutions ambulatory care organizations need.

“We are realigning the organization to remove silos and be better positioned to serve our clients, as they pursue population health and value-based reimbursement initiatives. It will also reduce our cost structure and make the organization more nimble,” explained Rusty Frantz, president and chief executive officer.

This organizational realignment is expected to result in approximately $4 million of restructuring-related charges, consisting principally of severance and other one-time termination benefits. The restructuring costs are expected to be primarily incurred and funded in the first and second quarters of fiscal year 2017. In connection with such charges, the Company estimates that it will reduce its headcount by approximately 150 employees, approximately six percent of its U.S.-based workforce. The Company expects $14 million to $16 million of personnel-related savings in fiscal year 2017, excluding the restructuring charge.

Fiscal Year 2017 Guidance and Preliminary & Unaudited Fiscal Year 2016 Results

Effective in fiscal year 2017, the Company will begin providing annual guidance for certain financial metrics. For fiscal year 2017, the Company anticipates revenues of $508 million to $522 million and non-GAAP diluted earnings per share of $0.78 to $0.86. This fiscal year 2017 guidance reflects the anticipated full year contribution from the acquisition of HealthFusion as well as the impact of the corporate restructuring. The Company expects to update this guidance, as appropriate, in its fourth quarter 2016 earnings announcement, scheduled for May 19, 2016.

To provide context for the fiscal year 2017 guidance, the Company also reported that, based upon preliminary financial data, it expects total revenue of $491 million to $493 million for fiscal year 2016 and $126 million to $128 million for its fourth quarter ended March 31, 2016, which are modestly below analysts’ consensus. The Company also expects to report non-GAAP diluted earnings per share of $0.70 to $0.72 for fiscal year 2016 and $0.17 to $0.19 for the fourth quarter, in line or slightly above analysts’ consensus. The Company expects GAAP earnings per share of $0.08 to $0.10 for fiscal year 2016 and a GAAP loss per share of ($0.28) to ($0.26) for the fourth quarter, largely due to the aforementioned impairment charge.

These preliminary, unaudited results are subject to the completion of the Company’s customary accounting and auditing procedures. Final adjustments and other developments may arise between the date of this press release and the dates on which the Company announces its 2016 fourth quarter and audited year-end results and files its Annual Report on Form 10-K with the Securities and Exchange Commission, that may cause actual results to materially differ

About Quality Systems, Inc.

Irvine, Calif.-based Quality Systems, Inc. (QSI) and its subsidiary, NextGen Healthcare Information Systems, develop and provide a range of software and services for medical and dental group practices, including practice management and electronic health record applications, patient portal, interoperability and connectivity products, and population health management and analytics offerings. Services include managed cloud services, revenue cycle management, claims clearinghouse, data interchange and value-add consulting. The Company’s solution portfolio is readily integrated and collectively positioned to drive low total cost of ownership for its client partners, as well as enable the transition to value-based healthcare. Visit www.qsii.com and www.nextgen.com for additional information.

April 27, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Medsphere Introduces Mobile OpenVista Enterprise to MOVE Clinicians Away From the Desktop

MOVE makes real-time patient data in the OpenVista EHR available anywhere users have web access

CARLSBAD, Calif.–(BUSINESS WIRE)–Medsphere Systems Corporation, the leading provider of affordable and interoperable healthcare information technology (IT) solutions, today introduced Mobile OpenVista® Enterprise (MOVE). MOVE liberates OpenVista EHR data from the desktop and enables physicians and clinical staff to work more effectively and efficiently.

MOVE provides secure, mobile, real time access to patient information—medications, allergies, problems, orders, documentation—anywhere a clinician has WiFi or cell coverage. Physicians can use MOVE at home to review medication orders. Nurses can use MOVE at the bedside to record information about a patient’s changing condition. With MOVE, clinicians have information in hand and can answer questions immediately while cutting down on trips to the PC.

MOVE includes NoteAssist, Medsphere’s advanced patient documentation system, enabling robust patient data on mobile devices. Clinicians can speak or type text into the fully templated system, giving flexibility to users and control to administrators. With MOVE, clinicians can start a note in the hallway and seamlessly complete it on the desktop, or start a note on the desktop in the office and finish and sign it from home. For physicians and clinical staff, NoteAssist and MOVE are a liberating combination.

“Without doubt, healthcare IT is moving toward mobility and enhanced, streamlined processes,” said Medsphere President and CEO Irv Lichtenwald. “Medsphere is excited about moving OpenVista in that same direction. When you factor in the proven nature of OpenVista and the affordability of our subscription service, Medsphere offers acute and behavioral health hospitals a clearly superior platform without the excessive costs of so many other options.”

Beyond recent enhancements to OpenVista, Medsphere recently expanded the company’s line of products and services via mergers with Phoenix Health Systems and MBS/Net, both now divisions of Medsphere. Phoenix Health Systems is a recognized provider of healthcare IT services, including systems implementation, compliance project management, service desk, end-user device management, infrastructure support, application management and IT leadership. Currently being integrated with OpenVista, MBS/Net’s suite of ambulatory physician enterprise products include a fourth-generation physician practice management system, ambulatory electronic health record (EHR), document management system and an advanced physician practice scheduling application, as well as the company’s established outsourced revenue cycle management (RCM) and practice hardware management services.

Derived from the proven VistA system developed by the U.S. Department of Veterans Affairs and the Indian Health Service, OpenVista is a comprehensive EHR platform combining both clinical and financial applications. Medsphere’s Government Services Division also applies extensive knowledge of VistA to development and testing work for the VA and Indian Health Service.

About Medsphere

Founded in 2002 and based in Carlsbad, Calif., Medsphere Systems Corporation is an organization of committed clinical and technology professionals working to make quality healthcare IT solutions accessible to organizations of virtually any size, shape or budget. Medsphere’s OpenVista® is an acute and inpatient behavioral health-oriented portfolio of clinical products and services that leverages the VistA electronic health record (EHR) system developed by the Department of Veterans Affairs (VA) and the Indian Health Service (IHS). Medsphere’s Government Services Division also applies that VistA expertise to development and testing projects for both VA and IHS.

Medsphere’s MBS/Net division enables better ambulatory care via physician practice EHR, revenue cycle management (RCM) and practice management systems and services. Using a vendor-independent approach to helping hospitals solve critical challenges, the Phoenix Health Systems division provides a host of healthcare IT services, including systems implementation, compliance project management, service desk, end-user device management, infrastructure support, application management and IT leadership.

March 17, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

e-MDs to Acquire Ambulatory Software Technology Assets from McKesson

Austin, TX – March 9, 2016 – e-MDs, a leading provider of ambulatory electronic medical record (EMR), practice management (PM) software, revenue cycle management (RCM) solutions, and credentialing services, today announced that it has agreed to acquire several software technology assets from McKesson Business Performance Services (McKesson). The McKesson assets include McKesson Practice Choice™, Medisoft®, Medisoft® Clinical, Lytec®, Lytec® MD, and Practice Partner®.

The acquisition will provide its customers with added resources for growth. The combined company’s products and services are projected to be used by nearly 55,000 providers nationwide.

“The McKesson team supporting these products is passionate about the same thing we are ─ helping doctors maintain focus on the patient,” stated Derek Pickell, CEO of e-MDs. “All of us at e-MDs look forward to aligning this team with ours to bring e-MDs’ full suite of solutions to thousands of new providers across the country.”

The acquisition will establish e-MDs as a front-runner in the ambulatory healthcare market, enhancing the company’s future growth and performance potential. Existing e-MDs and the McKesson clients, who use these products, will benefit from working with a company whose primary focus is software and services for small- to medium-sized practices, and the increased depth and breadth of industry knowledge this acquisition affords.

“e-MDs is the perfect fit for these assets because it has award-winning technology that is ideally suited to this customer base,” said Scott Sanner, SVP & GM, McKesson Business Performance Services.

“This acquisition is key to both our growth and diversification strategies,” stated George Kase, Partner with Marlin Equity Partners, the financial backers of e-MDs. “The purchase is in line with our strategy to complement organic growth by making selected strategic acquisitions. It also offers economies of scale allowing us to extend the e-MDs brand into new areas not previously available.”

About e-MDs

e-MDs is a leading provider of integrated electronic health records, practice management software, revenue cycle solution, and credentialing services for physician practices and enterprises. Founded by physicians, the company is an industry leader for usable, connected software that enables physician productivity and a superior clinical experience. e-MDs software has received top rankings in physician and industry surveys including those conducted by the American Academy of Family Physicians’ Family Practice Management, AmericanEHR™ Partners, MedScape®, and Black Book®. e-MDs has a proven track record of positioning clients for success as demonstrated by Meaningful Use attainment in 2011, 2012, 2013 and 2014. According to data provided by CMS, e-MDs clients are attesting in the top proportion of all major vendors. For more information, please visit http://www.e-mds.comhttp://facebook.e-mds.com and https://twitter.com/emds.

March 10, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

KLAS & Interoperability Measurement Advisory Team hold inaugural meeting

OREM, Utah – Feb. 4, 2016 – Aiming to continue and expand the output of the Keystone Summit, the newly established Interoperability Measurement Advisory Team will drive improvement through ongoing measurement of interoperability. Goals for the team include research tool oversight and adaptation, communication of efforts and progress, and advocacy for appropriate measurement standards.

This effort is supported by the freshly inked advisory team mission statement, which is “To effect accelerated advancement in the creation, optimization, and ultimate adoption of impactful interoperability through the measurement of provider experiences. The team will provide insight into and oversight of KLAS’ efforts to measure industry progress, focused especially on provider satisfaction with the utility of exchanged information and vendor support and progress.”

“Research collection for the 2016 interoperability study is already underway, targeting the experience of clinical end-users in receiving data from valued partners outside their system,” said Tim Zoph, committee chair. “What an amazing opportunity we have as a newly formed advisory team to hold ourselves as providers and vendors accountable for evaluating our own progress and developing a measurement tool to ultimately ensure successful interoperability efforts.”

The creation of the advisory team stems from the 2015 KLAS Keystone Summit, where a group of healthcare providers and EMR vendors came together to consider and ultimately recommend a process for measuring the impact of interoperability efforts. The following members represent a unique gathering of cross-industry leaders working together to strengthen collaboration toward interoperability:

Tim Zoph, Chair        Northwestern Medicine (retired)
Bob Cash, Facilitator        KLAS
Bob Barker            NextGen
Dennia Clarke            Allscripts
Peter DeVault            Epic
Darren Dworkin        Cedars-Sinai Health System
John Glaser            Cerner
Edward Glynn, MD        HCA Healthcare
John Halamka, MD        Beth Israel Deaconess Medical Center
Stan Huff, MD            Intermountain Healthcare
Howard Landa    , MD        Alameda Health System
Dan Nigrin, MD        Boston Children’s Hospital
Brian Patty, MD        Rush University Medical Center
Shantanu Paul         Greenway
Donna Roach            Via Christi Health – Ascension
Bob Robke            Cerner
Doran Robinson        athenahealth
Hoda Sayed-Friel        MEDITECH
Nimesh Shah            McKesson
Steve Starkey            MEDHOST
Micky Tripathi            Massachusetts eHealth Collaborative
Helen Waters            MEDITECH
Jon Zimmerman        GE Healthcare

About KLAS
KLAS is a research and insights firm on a global mission to improve healthcare delivery by enabling providers to be heard and counted. Working with thousands of healthcare professionals and clinicians, KLAS gathers data on software, services and medical equipment to deliver timely reports, trends and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. For more information about KLAS or to view our reports, visit www.klasresearch.com

February 5, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Nextech Acquires SupraMed, a Web-Based Healthcare Solution

Acquisition Expands Nextech’s Leadership in Providing Specialty-Specific EHR and Practice Management Solutions

TAMPA, FL–( January 25, 2016) – Nextech Systems, the top-ranked provider of specialty-focused healthcare technology solutions for physician practices, today announced its acquisition of SupraMed, developer of a web-based practice management system and electronic health record (EHR) built for the unique needs of plastic surgeons. The acquisition further cements Nextech’s dominance in the plastic surgery market and demonstrates its commitment to delivering top-tier specialty-specific EHR and practice management solutions.

“Specialty physicians have unique needs based on the size and scope of their practices,” said Michael Scarbrough, president and CEO of Nextech. “Combining SupraMed’s capabilities with our existing market-leading solutions empowers practices with a robust choice of product features and service options tailored to their needs.”

SupraMed’s web-based practice management technology complements Nextech’s existing Software-as-a-Service (SaaS)-based offering and will allow the company to scale while strengthening its commitment to specialty-specific products. Nextech already offers both client-server and cloud-based models that help practices take control and work smarter.

Through the acquisition, SupraMed clients are now able to take advantage of Nextech’s full suite of integrated solutions, including practice management, analytics, inventory and point of service modules.

“Nextech’s mission — to provide specialty physicians with the best technology solutions and services possible — complements our own,” said Dr. Robert Pollack, SupraMed founder and board certified plastic surgeon. “We’re delighted to be joining Nextech to deliver enhanced offerings through this acquisition. It’s a clear win for our clients.”

Dr. Pollack will step into an advisory role with Nextech where he will foster collaboration among the entire client base as part of an effort to further enhance the company’s offerings to best meet the needs of clinicians.

For more information on Nextech and how it supports specialty physicians in plastic surgery, ophthalmology and dermatology, visit www.nextech.com.

About Nextech

Nextech is the complete healthcare technology solution for specialty providers. Since 1997, Nextech has been focused on delivering intelligent, intuitive, integrated solutions that empower specialty physicians to maximize efficiency, optimize charting accuracy and increase overall practice profitability. Nextech services more than 7,000 physicians and over 50,000 office staff members in the clinical specialties of Ophthalmology, Dermatology and Plastic Surgery. Learn more at www.nextech.com.

January 26, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

CPSI to Acquire Healthland for $250 Million and Announces Expansion of Its Senior Management Team

MOBILE, Ala.–Computer Programs and Systems, Inc. (NASDAQ:CPSI), a leading provider of healthcare information solutions to rural and community hospitals, today announced that it has entered into a definitive agreement to acquire Healthland Holding Inc. and its affiliates, Healthland Inc., American HealthTech, Inc. and Rycan Technologies, Inc. The acquisition will strengthen CPSI’s position in providing healthcare information solutions in the markets it serves and will provide new growth markets for the combined company. CPSI also announced the expansion of its senior management team to lead the Company going forward.

Healthland provides electronic health records (EHR) and clinical information management solutions to over 350 hospital customers. American HealthTech is a provider of clinical and financial solutions in the post-acute care space, serving over 3,300 skilled nursing facilities. Rycan offers SaaS-based revenue cycle management workflow and automation software to over 290 hospital customers.

Transaction Highlights:

  • Strengthens CPSI’s position in providing healthcare information systems to community healthcare organizations with approximately 1,200 combined hospital customers;
  • Introduces CPSI to the post-acute care market;
  • Expands the products and capabilities of TruBridge with the addition of Rycan and its suite of revenue cycle management software products; and
  • Immediately accretive to adjusted earnings per diluted share.

The combined company is projected to have annual revenues of approximately $300 million in 2015 and more than 1,900 employees. The transaction is expected to be more than 35% accretive to CPSI’s adjusted earnings per diluted share in 2016 and more than 50% accretive in 2017. Adjusted earnings, a non-GAAP financial measure, include a cash tax benefit from the acquisition and exclude share-based compensation expense, one-time transaction costs, and acquisition-related amortization and deferred revenue adjustments.

“We are excited to welcome Healthland into CPSI’s family of healthcare IT companies,” said Boyd Douglas, president and chief executive officer of CPSI. “Healthland’s history tracks a very similar course to that of CPSI, as we both have over 30 years of experience in the healthcare IT space, and we share a strong commitment to the improvement of community healthcare. The combination of these two long-standing companies creates in CPSI a broad product portfolio across the continuum of care. Together, we will service a client base of approximately 1,200 acute care facilities and more than 3,300 post-acute care facilities, including Healthland’s American HealthTech subsidiary. As the healthcare industry transitions to value-based reimbursement, our combined solutions will connect communities, patients and providers to facilitate more effective population health management, better patient engagement, and the advancement of quality and care coordination. In addition to an expanded client and solution base, the acquisition will also create synergies in our healthcare services offerings to address the acute and post-acute care markets’ demand for improved financial and operational performance. There is no doubt that the addition of Healthland, along with American HealthTech and Rycan, will not only improve CPSI’s offerings in the healthcare IT market, but will provide our combined company with greater opportunities for growth and significantly deepen our knowledge, resources and experience base. We are confident this combination will allow us to continue to be a leading innovator with greater benefits for our customers and the communities they serve, both now and in the years to come.”

Chris Bauleke, chief executive officer of Healthland, stated, “With the ongoing transformation in community healthcare, this combination will enable us to deliver solutions faster for our clients and better scale our development investment and customer support across the many communities we serve. Delivering meaningful solutions for our customers as they prepare for the transition into value-based payment models will continue to be a priority.”

Bauleke added, “Healthland’s acquisitions of American HealthTech, a provider of EHR solutions for post-acute care facilities, in 2013, and Rycan, a revenue cycle solutions company, in April 2015, provide immediate benefits to the markets and solutions that the combined company can leverage.”

Following the acquisition, support for Healthland’s core platforms, Classic and Centriq, will remain in place. Current implementations will continue, and CPSI plans to support and invest in the Centriq platform for at least the next seven years. The Healthland Classic platform will continue to be supported for a minimum of two years, as outlined by Healthland management at their recent Connect 15 User Conference.

Transaction Summary

The contemplated total aggregate consideration to be paid by CPSI is $250 million, payable approximately 65% in cash and 35% in CPSI common stock, subject to certain adjustments at and after closing, as provided for in the merger agreement. The completion of the transaction is subject to review under The Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of other customary closing conditions, and is targeted to close in 2015.

To finance the transaction, CPSI will use cash available on its balance sheet, $150 million of funded debt from a new senior secured credit facility and shares of its common stock. CPSI and Regions Bank have executed a committed financing letter for the new senior secured credit facility that CPSI intends to enter into at the time of closing the transaction.

CPSI’s financial advisor in this transaction was Allen & Company LLC and Maynard, Cooper & Gale, P.C. and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to CPSI. Shearman & Sterling LLP served as legal counsel to Healthland.

CPSI’s Management Team

CPSI also announced a series of changes that expand its management team, effective immediately. David Dye, in addition to continuing to serve as chairman of the board, has assumed the new role of chief growth officer of CPSI and will be focused on driving growth in all segments of CPSI’s business. Chris Fowler, president of TruBridge, will assume the additional role of chief operating officer of CPSI and will be responsible for managing the integration of Healthland and CPSI. Matt Chambless, currently Director of Financial Reporting, is assuming the role of chief financial officer of CPSI.

“Having David Dye focus his experience, industry knowledge and leadership on growth is an exciting opportunity for our company, particularly as we add the Healthland companies to our business,” added Douglas. “Chris Fowler is a proven leader in our company and the right person to lead our operations and the integration of Healthland and CPSI, and Matt Chambless has earned the confidence of our management team and our Board.”

“I am excited about my role as chief growth officer and the opportunity to work with our team to expand our customer base and offer additional products and services in the markets we serve,” noted Dye, who like Boyd Douglas has been with CPSI for over 25 years.

CPSI also announced that Chris Bauleke has agreed to stay on as president of Healthland. Douglas added, “Having Chris as part of our team will be very valuable as we work to integrate these two businesses and position the combined company for future growth. Chris is an experienced executive and has been instrumental in positioning Healthland to compete in a dynamic and growing market. We believe that we have the right team to lead our company into the future and take advantage of the additional opportunities to serve our current customers and expand our service offering. With the addition of the Healthland companies, we also believe it is the right time to expand our senior leadership team and promote some of our younger managers.”

Conference Call

CPSI will discuss the transaction in more detail during a conference call Wednesday, November 25, 2015, at 10:30 a.m. ET. The Company will also provide a slide presentation in connection with the conference call and webcast. A 30-day online replay will be available approximately one hour following the conclusion of the live webcast. To listen to the live webcast or access the replay, visit the Company’s website, www.cpsi.com.

About Healthland

Healthland is a leading provider of integrated technology solutions to rural community and critical access hospitals. Software and services from Healthland, including electronic health records (EHRs), help customers share patient information across care settings to coordinate treatment, improve patient outcomes, and drive patient satisfaction. Healthland is the parent of Mississippi-based American HealthTech, one of the nation’s largest providers of financial and clinical technology solutions in post-acute care. Healthland is headquartered in Minneapolis, Minn., with offices in its founding rural community of Glenwood, Minn. More information is available at www.healthland.com.

About CPSI

CPSI is a leading provider of healthcare solutions for community hospitals. Founded in 1979, CPSI is the parent of two companies – Evident, LLC and TruBridge, LLC. Evident provides comprehensive EHR solutions for community hospitals. TruBridge focuses exclusively on providing business, consulting, and managed IT services to community healthcare organizations, regardless of their IT vendor. For more information, visit www.cpsi.com, www.evident.com, or www.trubridge.com.

November 25, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Independent Practices Outperform Industry in ICD-10 Transition

Kareo handled more than 6.6 million ICD-10 claims, representing more than $735M in claims value

IRVINE, Calif.–Kareo, the leading provider of cloud-based solutions for independent medical practices, today announced that 99 percent of claims submitted in the first month of the ICD-10 coding transition were successful. Additionally, 87 percent of Kareo customers have already been paid for at least one submitted claim.

“In October, we saw close to 6.6 million electronic claims representing more than $735 million submitted through Kareo using the ICD-10 coding scheme,” said David Mitzenmacher, Vice President of Customer Success at Kareo. “Based on our data, independent practices using Kareo handled the transition with ease, a testament to their preparation efforts. Compared to results released by the Centers for Medicare and Medicaid Services (CMS) for October, practices using Kareo appear to have outperformed the larger healthcare industry in terms of the ICD-10 transition.”

Kareo also surveyed its customer base directly to gauge its experience with the transition. Based on customer responses, 57 percent of respondents considered the ICD-10 transition “easy” or “very easy.” Just three percent of respondents considered the transition “difficult,” or “very difficult.” The remaining 40 percent considered the event “moderate.”

To summarize, Kareo and its customers have seen:

  • 6.6 million ICD-10 claims submitted in the first month
  • 99% of customers submitted at least one ICD-10 claim
  • 87% of customers received payment for at least one ICD-10 claim
  • 1.4 million claims submitted in October were already paid
  • 11 days was the average time to payment for ICD-10 claims

In the years leading up to the October 1 deadline, Kareo has supported its clients through training and software upgrades to ensure independent practices were able to go through this transition without losing or significantly delaying revenue. To learn more about how Kareo is continuing to help independent practices succeed through the transition visit http://www.kareo.com/icd-10.

November 5, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Quality Systems, Inc. Announces Agreement to Acquire HealthFusion Holdings, Inc.

Acquisition to accelerate cloud-based development and delivery of QSI/NextGen Healthcare core applications and elevate commitment to ambulatory services sector with addition of clients

IRVINE, Calif.–(BUSINESS WIRE)– Quality Systems, Inc. (NASDAQ: QSII), announced today an agreement to acquire HealthFusion Holdings, Inc. (HealthFusion) for $165 million plus potential additional contingent consideration of up to $25 million.

Based in San Diego, Calif., HealthFusion is a privately held developer of web-based, cloud computing software for physicians, hospitals and medical billing services. HealthFusion’s 100 percent cloud-based MediTouch® platform is currently used by over 3,000 physician practices, hospital ambulatory centers and medical billing services (totaling more than 6,000 subscribers). The company has historically achieved meaningful double-digit annual revenue growth rates, with a recent annualized revenue pace exceeding $30 million. The contingency for full payment of the earn-out is based on the generation of $43 million of HealthFusion product revenues during calendar 2016.

The transaction is subject to customary closing conditions and is expected to be completed during the Company’s current fiscal year, which ends March 31, 2016. Quality Systems expects this transaction to be accretive to its non-GAAP earnings in the first full year following the acquisition.

The Company has secured $200 million in fully committed financing from J.P. Morgan and U.S. Bank. At closing of the transaction, the Company expects to fund approximately $115 million of the consideration via this credit facility and the remainder through excess cash on hand.

“The acquisition of HealthFusion is another example of our strategy to expand both client base and solution capabilities in our ambulatory market. We look forward to sharing this acquisition as a part of our broader strategy with our client base at our annual User Group Meeting in Las Vegas starting this Sunday, November 1,” said Rusty Frantz, president and chief executive officer at Quality Systems, Inc.

“HealthFusion brings an extremely intuitive, fully mobile, cloud-based solution that affords smaller groups of physicians and other providers a clean EHR experience within a fully integrated suite of solutions for their practice. Over time, we will focus on expanding the platform to satisfy the needs of practices of increasing size and complexity. We will also look to provide some of our broader service capabilities to the HealthFusion client base,” Frantz explained.

Dr. Sol Lizerbram, HealthFusion chairman, added: “We believe our SaaS-based healthcare technology products will prove beneficial to Quality Systems’ NextGen Healthcare service offering as the Company advances its cloud solutions capabilities. This acquisition presents significant opportunity to capitalize on the joint successes both companies have achieved to date in the ambulatory market segment.”

J.P. Morgan Securities LLC is acting as financial advisor and Latham & Watkins LLP is serving as legal counsel to Quality Systems. TripleTree is acting as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati is serving as legal counsel to HealthFusion.

About HealthFusion

Founded in 1998 by three entrepreneurs including two primary care physicians, San Diego, Calif.-based HealthFusion supports over 6,000 ambulatory subscribers in more than 30 specialties spread across all 50 states and employs 140. HealthFusion develops web-based, cloud computing software for physicians, hospitals and medical billing services. HealthFusion’s fully integrated solution includes MediTouch EHR (Electronic Health Record and Patient Portal) and MediTouch PM (Practice Management and Claims Clearinghouse).

MediTouch EHR was designed for use on mobile tablets such as the iPad, and offers a unique array of features that facilitate adoption of EHR technology. Each integrated module of the MediTouch platform natively supports the iPAD® and the company is a certified Apple Developer. All MediTouch modules function seamlessly together including the EHR, medical billing, practice management, collections, patient portal, and clearinghouse.

To learn more visit HealthFusion.com or follow HealthFusion on Facebook, Twitter and YouTube.

About Quality Systems, Inc.

Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare subsidiary develop and market computer-based practice management, electronic health records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices. Visit www.qsii.com and www.nextgen.com for additional information.

October 30, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Quality Systems, Inc. Board of Directors Approves Sale of NextGen Healthcare Hospital Solutions Division

IRVINE, Calif.–(BUSINESS WIRE)– Quality Systems, Inc. (NASDAQ: QSII), announced today it has sold the Hospital Solutions Division of its NextGen Healthcare subsidiary to QuadraMed Affinity Corporation (“QuadraMed”), which is part of the Harris Operating Group of Constellation Software Inc.

QuadraMed provides healthcare software and services primarily used in hospitals, health systems and related facilities throughout the U.S., Canada, the United Kingdom, and Saudi Arabia.

“The divestiture of our Hospital Solutions Division enables Quality Systems and NextGen Healthcare to focus on our core, ambulatory business, which includes one of the largest installed bases in the industry. This transaction underscores our commitment to further cementing our market position and emphasizing our core strengths within the ambulatory segment of healthcare delivery,” said Rusty Frantz, Quality Systems’ president and CEO.

Additional details will be communicated to NextGen Healthcare Solutions clients as well as employees as part of a seamless transition to QuadraMed.

The Spartan Group LLC provided financial advisory services to Quality Systems in this transaction.

About QuadraMed

Founded in 1993, QuadraMed® is a leading provider of healthcare technologies and services that improve the safety, quality and efficiency of patient care. Behind the Company’s products and services is a staff of 475 professionals who support clients at over 1,200 healthcare facilities. For information about QuadraMed, visit www.quadramed.com.

About Quality Systems, Inc.

Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare subsidiary develop and market computer-based practice management, electronic health records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices. Visit www.qsii.com and www.nextgen.com for additional information.

October 22, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Modernizing Medicine Closes Series E Financing

Pentland Group, Summit Partners and Sands Capital Ventures participated in the round

Boca Raton, Florida – September 21, 2015 – Modernizing Medicine, Inc., the creator of the Electronic Medical Assistant® (EMA™), a cloud-based, specialty-specific electronic medical record (EMR) system, announced today that it has closed a $38 million Series E financing, bringing total capital raised to approximately $87 million.

The investors in the latest round of financing included Pentland Group and funds affiliated with Summit Partners and Sands Capital Ventures.

“We greatly appreciate the vote of confidence in the future growth of Modernizing Medicine,” shares Daniel Cane, co-founder and CEO of Modernizing Medicine. “While our dedication to the specialty-specific provider market is evidenced by sizable accomplishments – including four #1 EHR Black Book Rankings for dermatology, orthopedics, otolaryngology and gastroenterology – there still remains an opportunity to improve efficiencies and outcomes for physicians and patients alike.”

To learn more about Modernizing Medicine, visit www.modmed.com.

About Modernizing Medicine

Modernizing Medicine® is transforming how healthcare information is created, consumed and utilized in order to increase efficiency and improve outcomes. Our flagship product, Electronic Medical Assistant® (EMA™), is a cloud-based, specialty-specific electronic medical records (EMR) system built by practicing physicians. Available as a native iPad application and from almost any web-enabled Mac or PC, EMA adapts to each provider’s unique style of practice. This ICD-10 ready EMR system is available for the dermatology, ophthalmology, orthopedics, otolaryngology, gastroenterology, urology and plastic surgery markets and used by over 9,000 providers in the United States and its territories. The Modernizing Medicine family of companies also provides specialty-specific billing and inventory management, plus a gastroenterology platform consisting of an EMR system, Endoscopy Report Writer, practice management solution, patient portal, data analytics and revenue cycle management. Follow Modernizing Medicine on Twitter at www.modmed.com/twitter and on Facebook at www.modmed.com/facebook.

September 21, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.