Allscripts Continues to Struggle Financially, Stock Tumbles | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Allscripts Continues to Struggle Financially, Stock Tumbles

November 7, 2014
by Gabriel Perna
| Reprints

Allscripts, the Chicago-based electronic health record (EHR) developer, reported a $25.8 million loss in the third quarter of 2014. Coupled with a decrease in future bookings, the company’s stock dropped approximately up to 17 percent or more than two dollars per share.  

The loss of $25.8 million isn’t as bad as where Allscripts was one year ago, when it lost nearly $50 million. However, the revenues of $347.7 million were below where Wall St. estimates predicted it would be. Further, future bookings were $223 million, compared to $236 million in the third quarter of 2013 and $234 million in the second quarter of 2014.

However, it wasn’t all bad, according to Allscripts CEO Paul Black, who pointed to progress and a growing demand as reasons for optimism. The company highlighted a number of contracts it won during the quarter including systems at Catholic Health Initiatives, Robert Wood Johnson University Hospital, and Baylor Scott & White Health.

The company has had its fair share of struggles in the past few years. In late 2012, longtime CEO Glen Tullman resigned after a tough year for the company. He was replaced by Black immediately.

Get the latest information on Finance and Revenues and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.

Learn More

Topics

News

Former Michigan Governor to Serve as Chair of DRIVE Health

Former Michigan Governor John Engler will serve as chair of the DRIVE Health Initiative, a campaign aimed at accelerating the U.S. health system's transition to value-based care.

NJ Medical Group Launches Statewide HIE, OneHealth New Jersey

The Medical Society of New Jersey (MSNJ) recently launched OneHealth New Jersey, a statewide health information exchange (HIE) that is now live.

Survey: 70% of Providers Using Off-Premises Computing for Some Applications

A survey conducted by KLAS Research found that 70 percent of healthcare organizations have moved at least some applications or IT infrastructure off-premises.

AMIA Warns of Tax Bill’s Impact on Graduate School Programs in Informatics

Provisions in the Republican tax bill that would count graduate student tuition waivers as taxable income would have detrimental impacts on the viability of fields such as informatics, according to the American Medical Informatics Association.

Appalachia Project to Study Relationship Between Increased Broadband Access, Improved Cancer Care

The Federal Communications Commission and the National Cancer Institute have joined forces to focus on how increasing broadband access and adoption in rural areas can improve the lives of rural cancer patients.

Survey: By 2019, 60% of Medicare Revenues will be Tied to Risk

Medical groups and health systems that are members of AMGA (the American Medical Group Association) expect that nearly 60 percent of their revenues from Medicare will be from risk-based products by 2019, according to the results from a recent survey.