Allscripts Healthcare Solutions, Inc. (MDRX) recently revealed that Englewood, CO-based Catholic Health Initiatives (CHI) has selected the company’s Hosting Solution in order to provide enterprise-wide information technology (IT) through 2020.
Catholic Health Initiatives is a national, non-profit health organization, operating across 18 states with over 100 hospitals. The organization has academic health centers, critical-access facilities, community health-service organizations, accredited nursing colleges, and other facilities spanning the continuum of care.
Catholic Health Initiatives intends to transfer its Allscripts mission-critical clinical and financial applications, including Allscripts TouchWorks Electronic Health Record (EHR), to an Allscripts remote hosting center in Kansas City, MO.
By utilizing Allscripts’ Hosting Solution, Catholic Health Initiatives expects improved system availability, reduced IT infrastructure expenditures as well as enhanced end user performance. It also expects to benefit from proactive monitoring and disaster recovery services.
Allscripts Healthcare’s scalable and robust hosting environment allows healthcare organizations to manage growing patient volumes, increasing regulatory requirements and shifting payment models. With its open architecture and efficient workflows, the Hosting Solution helps providers improve patient experience.
Allscripts Healthcare recently reported third-quarter 2014 financial numbers. Though the company’s earnings and revenues missed expectations in the quarter, its business continues to show progress as reflected by increased client bookings, addition of new clients globally and healthy demand for Allscripts’ solutions in primary end markets.
The healthcare information technology solutions provider posted adjusted earnings of 2 cents per share in the third quarter which doubled from a penny per share reported in the last-year quarter. Revenues (including deferred revenues) came in at $347.7 million, up 4% on a year-over-year basis.
Bookings performance in the quarter was driven by new sales of Allscripts Sunrise EHR platform to new domestic and international clients, particularly in the U.K. Bookings were also driven by higher client demand for the company’s population health management solutions and managed information technology services offerings by healthcare systems, hospitals, and ambulatory markets.
Contract backlog continued to expand and grew to $3.4 billion as of Sep 30, 2014, from $3.3 billion as of Jun 30, 2014.
Currently, Allscripts Healthcare carries a Zacks Rank #3 (Hold).
Better-ranked stocks include Merge Healthcare (MRGE) in the medical information systems industry and GW Pharmaceuticals (GWPH) and Abaxis (ABAX) in the medical products industry. While GW Pharmaceuticals sports a Zacks Rank #1 (Strong Buy), both Merge Healthcare and Abaxis carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment