Thanks to Meaningful Use, Cerner’s Revenue Surges | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Thanks to Meaningful Use, Cerner’s Revenue Surges

April 26, 2012
by Gabriel Perna
| Reprints

Attributing the growth to meaningful use requirements, Cerner Corporation (Kansas City) announced its 2012 first quarter financials, with its revenue, bookings, and net earnings increasing steadily year-over-year. First quarter revenue was $641.2 million, an increase of 30 percent compared to $491.7 million in the year-ago period. Bookings, or funds from future customers, were $652.3 million, which Cerner says was an all-time high for a first quarter and an increase of 24 percent compared to first quarter 2011 bookings of $524.9 million.

First quarter 2012 net earnings were $88.7 million and diluted earnings per share were $0.51. First quarter 2011 GAAP net earnings were $64.6 million and diluted earnings per share were $0.37. The company’s stock rose 1.46 percent, or $1.06 per share, in after-hours trading, upon news of the earnings. Cerner

 “Meaningful Use requirements included in the HITECH (The Health Information Technology for Economic and Clinical Health) Act continue to drive a wave of adoption in our client base and significant opportunities to establish new footprints,” Neal Patterson, Cerner chairman, CEO, president and co-founder, said in a statement.  

Patterson also said Cerner is “investing heavily in solutions and services that position Cerner for growth beyond Meaningful Use.”  He pointed to Cerner’s opportunities in data analytics and population health management as examples of this.



NewYork-Presbyterian, Walgreens Partner on Telemedicine Initiative

NewYork-Presbyterian and Walgreens are collaborating to bring expanded access to NewYork-Presbyterian’s healthcare through new telemedicine services, the two organizations announced this week.

ONC Releases Patient Demographic Data Quality Framework

The Office of the National Coordinator for Health IT (ONC) developed a framework to help health systems, large practices, health information exchanges and payers to improve their patient demographic data quality.

AMIA, Pew Urge Congress to Ensure ONC has Funding to Implement Cures Provisions

The Pew Charitable Trusts and the American Medical Informatics Association (AMIA) have sent a letter to congressional appropriators urging them to ensure that ONC has adequate funding to implement certain 21st Century Cures Act provisions.

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.