Tag Archives: ehr

Cerner Replaces Siemens Software With Its Millennium At Universal

One way to win a big contract is to persuade existing customers to buy your companion products. Another way to win is to buy your rival and sell your products to your ex-rival’s customers. Cerner ( CERN ), one of the largest makers of software for the health care industry, did it both ways when it persuaded the second-largest publicly traded hospital chain in the U.S., Universal Health Services ( UHS ), to upgrade from its Siemens ( SIEGY ) Invision revenue-cycle software to Cerner’s new Millennium Revenue Cycle suite. First, Cerner took out the competitor, Siemens Health Services, for $1.3 billion in February 2015. Then it went to work on Siemens’ revenue-cycle client Universal Health, which was already a Cerner customer in that it used Cerner’s  electronic health records (EHR) and health information management (HIM) software on the clinical side of the medical profession. But for the business side — to handle patient eligibility, co-pays, coding claims, tracking, collections and following up on claim denials — Universal Health was using Siemens’ Invision. Cerner’s new Millennium Revenue Cycle product handles both the medical and business sides, while integrating with the federal government’s push toward electronic health records (EHR) and PopHealth analytics to inform medical and administrative decision makers, as well as regulators and policymakers. “The size of the deal is unknown, and considering UHS is switching from one CERN-owned platform (Siemens’ Invision) to the core CERN Millennium platform, the contribution will not be as large as if it were a completely new customer,” said Canaccord Genuity analyst Richard Close in a research note Thursday. Hey, money isn’t everything. “Just as important as the size of the deal, however, is the signature nature of the Siemens conversion to Millennium Revenue Cycle for Cerner,” said RBC Capital Markets analyst David Francis in a Thursday research note. “While the clinical side of Cerner’s Millennium offering has been highly regarded for some time, there have been pockets of questions recently about Cerner’s revenue-cycle capabilities for large enterprises. “The UHS decision to replace Invision … is a major conversion and should help Cerner in convincing other Siemens financial users to strongly consider not only moving their clinical platform to Millennium, but their financial solution as well.” Cerner announced the Universal Health deal after Wednesday’s market close. In the stock market today , Cerner shares rose 1.4% to a two-month high of 55.98, 26% off an all-time high of 75.72 set nearly a year earlier, April 13, and down 12% for the year. Universal Health stock fell 1% to 123.04, 17% off  its record high of 148.57, set Aug. 5.

Allscripts Lands A Deal; Cerner Faces A Challenge At MedStar

Allscripts Healthcare Solutions ( MDRX ) stock jumped again Wednesday, with Wall Street “extremely encouraged” by a deal to extend Allscripts’ information tech to University Hospitals in northeast Ohio through 2024. Meanwhile, Allscripts’ No. 1 rival  Cerner ( CERN ) was helping its Baltimore-based customer MedStar, after an apparent virus infected MedStar’s computers. The hospital chain — said to be the the largest civilian health care organization in the Washington, D.C., area — shut down its entire network “to prevent virus spread,” MedStar tweeted Tuesday. “We have no evidence of compromised information. All facilities remain open.” Wednesday morning, MedStar posted to Facebook: “Thanks to our IT and Cyber teams, our analysis continues to show no patient or associate data have been compromised. All major clinical systems are working toward full restoration.” Cerner spokeswoman Marlene Bentley advised IBD in an email that “while all systems were taken offline as a precaution, Cerner solutions — including the MedConnect EHR system — were not penetrated. The MedConnect system is now online at limited facilities, and we continue to work closely with our client as the broader IT framework is brought back online.” Departing MedStar nurses, meanwhile, told CBS News that staff was delivering care using paper records. Cerner and MedStar entered into a seven-year IT deal in October 2014. Allscripts stock rose as much as 4.6% in the stock market today  after rising 5.4% on Tuesday, and closed Wednesday at 13.10, up 2.3%. Cerner stock rose a fraction Wednesday but is 30% off a record high touched nearly a year ago. Allscripts Platforms Headed To Five More Hospitals Allscripts didn’t specify the value of the agreement announced Tuesday after the close, but it has already deployed its Sunrise Clinical Manager platform in nine University Hospitals in and around Cleveland. The deal calls for five more Sunrise platforms to be installed in five hospitals recently acquired by UH. The hospital chain will also increase use of Allscripts’ database software, called dbMotion, Allscripts said in its announcement. “Because dbMotion harmonizes information from disparate clinical systems and brings actionable data to the point of care, UH will be positioned to more effectively coordinate care across settings,” Allscripts said. Canaccord Genuity analyst Richard Close reiterated a buy rating on Allscripts stock, with an 18 price target. In a research note, he said he was “extremely encouraged by today’s announcement, which echos our view that MDRX continues to improve its competitive position. “MDRX’s investor meeting held during the (Las Vegas Healthcare Information and Management Systems Society) conference (ended March 4) provided confidence that existing customers were satisfied with MDRX and looking to continue and expand their relationship,” Close wrote. University Hospitals’ 18 hospitals include Cleveland’s Case Medical Center, the academic hospital of Case Western Reserve University. “This large extension of (Allscripts’) footprint at University Hospitals is an additional proof statement of Allscripts’ return to competitiveness in the enterprise systems market, as this contract extension was a competitive bid against established competitors in the market,” wrote RBC Capital Markets analyst David Francis in a Wednesday research note. RBC maintains an outperform rating on Allscripts stock, with a 17 price target. MedStar Virus Raises Worries Regarding the MedStar computer virus in Baltimore and Washington, Rachel Ehrenfeld, CEO of the American Center for Democracy and the Economic Warfare Institute, told IBD via email that “while physical security is important, the damage caused by hacking into a hospital IT could cause short- and long-term horrendous damages. “If the system is secure and functioning, it could possibly prevent or limit the scope of a physical attack.” In its October 2014 MedStar announcement, Cerner said it would “develop technologies that align with MedStar’s vision to be the trusted leader in caring for people and advancing health. The new alignment will allow access to all Cerner solutions and services throughout MedStar’s 10 hospitals and 3,000-plus beds, as well as the ambulatory and post-acute network. Cerner will provide MedStar an expanded enterprise Electronic Health Record (EHR) that will provide clinicians seamless access to patient information across the continuum of care.” Image provided by Shutterstock .

Allscripts Lands A Deal; Cerner Faces Security Challenge At MedStar

Allscripts Healthcare Solutions ( MDRX ) stock jumped again Wednesday, with Wall Street “extremely encouraged” by a deal to extend Allscripts’ information tech to University Hospitals in northeast Ohio through 2024. Meanwhile, Allscripts’ No. 1 rival  Cerner ( CERN ) was likely trying to help its Baltimore-based customer MedStar, after an apparent virus infected MedStar’s computers. The hospital chain — said to be the the largest civilian health care organization in the Washington, D.C., area — shut down its entire network “to prevent virus spread,” MedStar tweeted Tuesday. “We have no evidence of compromised information. All facilities remain open.” Wednesday morning, MedStar posted to Facebook: “Thanks to our IT and Cyber teams, our analysis continues to show no patient or associate data have been compromised. All major clinical systems are working toward full restoration.” Departing MedStar nurses, meanwhile, told CBS News that staff was delivering care using paper records. Cerner and MedStar entered into a seven-year IT deal in October 2014. Cerner didn’t immediately respond to requests for comment. Allscripts stock rose as much as 4.6% in the stock market today  after rising 5.4% on Tuesday, and was up about 2%, above 13, midday Wednesday. Cerner stock was up a fraction midday Wednesday, 30% off a record high touched nearly a year ago. Allscripts Platforms Headed To Five More Hospitals Allscripts didn’t specify the value of the agreement announced Tuesday after the close, but it has already deployed its Sunrise Clinical Manager platform in nine University Hospitals in and around Cleveland. The deal calls for five more Sunrise platforms to be installed in five hospitals recently acquired by UH. The hospital chain will also increase use of Allscripts’ database software, called dbMotion, Allscripts said in its announcement. “Because dbMotion harmonizes information from disparate clinical systems and brings actionable data to the point of care, UH will be positioned to more effectively coordinate care across settings,” Allscripts said. Canaccord Genuity analyst Richard Close reiterated a buy rating on Allscripts stock, with an 18 price target. In a research note, he said he was “extremely encouraged by today’s announcement, which echos our view that MDRX continues to improve its competitive position. “MDRX’s investor meeting held during the (Las Vegas Healthcare Information and Management Systems Society) conference (ended March 4) provided confidence that existing customers were satisfied with MDRX and looking to continue and expand their relationship,” Close wrote. University Hospitals’ 18 hospitals include Cleveland’s Case Medical Center, the academic hospital of Case Western Reserve University. “This large extension of (Allscripts’) footprint at University Hospitals is an additional proof statement of Allscripts’ return to competitiveness in the enterprise systems market, as this contract extension was a competitive bid against established competitors in the market,” wrote RBC Capital Markets analyst David Francis in a Wednesday research note. RBC maintains an outperform rating on Allscripts stock, with a 17 price target. MedStar Virus Raises Worries Regarding the MedStar computer virus in Baltimore and Washington, Rachel Ehrenfeld, CEO of the American Center for Democracy and the Economic Warfare Institute, told IBD via email that “while physical security is important, the damage caused by hacking into a hospital IT could cause short- and long-term horrendous damages. “If the system is secure and functioning, it could possibly prevent or limit the scope of a physical attack.” In its October 2014 MedStar announcement, Cerner said it would “develop technologies that align with MedStar’s vision to be the trusted leader in caring for people and advancing health. The new alignment will allow access to all Cerner solutions and services throughout MedStar’s 10 hospitals and 3,000-plus beds, as well as the ambulatory and post-acute network. Cerner will provide MedStar an expanded enterprise Electronic Health Record (EHR) that will provide clinicians seamless access to patient information across the continuum of care.” Image provided by Shutterstock .