After Whittier, Calif.-based non-profit healthcare provider PIH Health, it is now Pennsylvania-based Heritage Valley Health System, which has implemented Allscripts Healthcare Solutions’ (MDRX) Sunrise. The community-based healthcare system Heritage Valley will implement Sunrise at its Beaver and Sewickley campus.
Heritage Valley Health System has already used Allscripts ambulatory electronic health record ("EHR") system for seven years as well as Sunrise Access Manager and Sunrise Patient Financial Manager.
From now on, Heritage Valley will also be able to use Computerized Provider Order Entry ("CPOE"), integrated pharmacy, bar-code medication administration, a patient portal and acute and critical care solutions provided by Sunrise. Within three months of going live on the Sunrise EHR, Heritage Valley Health System successfully attested for Meaningful Use stage 1.
Recently, PIH Health revealed that it has chosen Allscripts Healthcare Solutions’ Sunrise suite as the 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.
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 #4 (Sell). It is expected to report its third quarter results on Nov 4.
While we avoid Allscripts Healthcare Solutions, there are no other stocks in the medical information systems industry that are worth a look. However, we view stocks from the medical products industry such as Bio-Rad Laboratories, Inc. (BIO), diaDexus, Inc. (DDXS) and INSYS Therapeutics, Inc. (INSY) as worth considering. All of them carry a Zacks Rank #1 (Strong Buy).
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