In an effort to expand its client base and comply with the current regulatory needs, Allscripts Healthcare Solutions (MDRX) announced the general availability of the latest Allscripts Professional Electronic Health Record (EHR) 13.0. This new physician practice solution is ONC 2014 certified, which supports both Stage 1 and 2 Meaningful Use.
The advanced Allscripts Professional EHR 13.0 provides enhanced billing competency and specialty-specific clinical content to small and mid-sized physician practice groups. Moreover, it is integrated with full patient portals viz. FollowMyHealth and Intuit Patient Portals, necessary for meeting MU2 criteria.
Further, additional capabilities such as bi-directional immunizations, InfoButton Technology, and Care Plans and Goals help to improve user efficiency. In addition, the company provides a number of services to update practitioners for all stages of Meaningful Use.
Earlier in Aug 2013, along with the Professional 13.0, MDRX received 2014 ONC HIT Certification for its Enterprise 11.4.1. In the same month, the company announced the general availability of the much-awaited Allscripts Wand 2.0. The Wand enables the mobile healthcare professional to move between their desktop and iPad for patient consultations and management. The result is a streamlined workflow and faster access to data.
All new flagship products of the company are now generally available. We believe that Allscripts has a significant base in the fast-growing business of selling EHR to physician practices. Allscript is one of the top vendors with the highest number of complete EHR attestations.
MDRX is a leading clinical software and information solutions provider for physicians. Its products are used widely across the U.S. and Canada. Currently, the company serves approximately 180,000 physician practices, 1,500 hospitals, and 10,000 post-acute care facilities.
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 reported 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 attributed to lower revenues generated from all the operating segments.
While we avoid MDRX being a Zacks Rank #4 (Sell) stock, other medical stocks that are performing well include Alere (ALR) and Affymetrix (AFFX), both carrying a Zacks Rank #1 (Strong Buy), and Medidata Solutions (MDSO), carrying a Zacks Rank #2 (Buy).
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