Allscripts-Misys Healthcare Solutions, Inc. (MDRX) recently entered into an agreement with a new client, Huntington Memorial Hospital, whereby the latter will offer the branded version of Allscripts’ e-prescribing solution under the name HuntingtonRx to its nearly 1,000 affiliated physicians. Financial terms of the agreement have not been disclosed.
Allscripts’ e-prescribing solution is an Electronic Health Record (EHR) software that automates the process of writing prescriptions. EHR system enables physicians to send prescriptions directly to a pharmacy by e-mail. It has been proven that the effective use of EHR systems reduces medical errors, enhances clinical quality and leads to better patient outcomes by accessing patient records in real time.
The U.S. government is increasingly emphasizing the use of EHR systems these days, as evident from the Medicare Improvements for Patients and Providers Act of 2008. For the first time ever, the Act provides financial incentives to physicians who adopt e-prescribing. This requires adoption by 2011 and delays any reduction in fees for treating Medicare patients.
We believe that the new agreement will boost Allscripts’ top-line by expanding its client base. Libertyville, IL-based Allscripts Healthcare Solutions Inc. is a leading provider of clinical software and information solutions meant for physicians. In Oct 2008, the company merged with Misys Plc, a global applications software and services company, to form Allscripts−Misys Healthcare Solutions Inc.
Allscripts faces strong competition from Cerner Corp. (CERN), Merge Healthcare Inc. (MRGE), Quality Systems Inc. (QSII) and MedAssets Inc. (MDAS).
Presently, we are “Neutral” on Allscripts.
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