Skip to content Skip to navigation

Allscripts’ Earnings Report Shows Continued Slump

May 10, 2013
by Gabriel Perna
| Reprints

Chicago-based electronic health record (EHR) software provider, Allscripts continues to find itself in a slump, according to the results of its first full quarter earnings report since the company made significant leadership changes.

The company, which had a notable quarter for its high-profile acquisitions of dbMotion and Jardogs, reported that its bookings of $177.7 million were down from $194.6 million in the first quarter of 2012 and $180.7 million in the fourth quarter of 2012. Overall revenue was down from of $364.7 million a year ago to $347.1 million this past quarter. The company posted an operating loss of $28.3 million in the first quarter, compared with an operating income of $13.0 million in the first quarter of 2012. 

The past year has been an interesting one for Allscripts as dealt with the removal of former CEO Glen Tullman and subsequent appointment of former Cerner COO Paul Black. It’s also dealt with its share of legal battles and rumors of it being bought out by a private equity firm.

News of the company’s earnings has dropped its stock price from $13.85 per share at the end of day yesterday to $13.28 per share (press time).

"We are making progress in key areas including an unwavering client focus, delivering on our commitments and driving operational effectiveness," Paul M. Black, president CEO of Allscripts, said in a statement. “We are investing heavily in both our clients and our products and so while our financial results for the quarter are not surprising, they are not satisfactory and not indicative of our long term potential. This is a rebuilding year for Allscripts and I remain confident we are taking the right steps forward."

The complete report can be found here.



ONC National Coordinator Gets Live Look at Carequality Data Exchange

Officials from Carequality have stated that there are now more than 150,000 clinicians across 11,000 clinics and 500 hospitals live on its network. These participants are also able to share health data records with one another, regardless of technology vendor.

American Red Cross, Teladoc to Provide Telehealth Services to Disaster Victims

The American Red Cross announced a partnership with Teladoc to deliver remote medical care to communities in the United States that are significantly affected by disasters.

Report: The Business of Cybercrime in Healthcare is Growing

While stolen financial data still has a higher market value than stolen medical records, as financial data can be monetized faster, there are indications that there is ongoing development of a market for stolen medical data, according to an Intel Security McAfee Labs report.

Phishing Attack at Baystate Health Potentially Exposes Data of 13K Patients

A phishing scam at Baystate Health in Springfield, Mass. has potentially exposed the personal data of 13,000 patients, according to a privacy statement from the patient care organization and a report from MassLive.

New Use Cases Driving Growth in Health Data Exchange through Direct

In an update, DirectTrust reported significant growth in Direct exchange of health information and the number of trusted Direct addressed enabled to share personal health information (PHI) in the third quarter of 2016.

Insurers to CBO: Consider Private Insurers’ Data in Evaluations of Telemedicine

Eleven private insurers, including Aetna, Humana and Anthem, are urging the Congressional Budget Office (CBO) to consider the experience of commercial insurers when evaluating the impact of telemedicine coverage in Medicare.