Stunning! After more than three years of promising a mobile app Athena just announced to users that they no longer plan support a mobile app. Mobile devices can access their services by a web browser, but that user interface is barely useable on desktop, to say nothing of not being suitable for any tablet short of the Windows based Surface...which isn't anything more than a touchscreen based laptop with a detachable keyboard. Not at all a mobile platform, and not useable with any degree of efficiency in a clinical setting. So basically, while the rest of the market moves aggressively to accommodate the 85% of physicians who use and want iPad based solutions, and an efficient mobile platform that is ideally suited for EHR, Athena basically gives up? It boggles the mind. Especially when the solutions coming from the competition are showing tremendous promise and increasing maturity. Makes you wonder...
where are all the ANALysts who have an 85 dollar target ??? they should be pounding the table on this piece of junk....lets retrace that dec 11 gap from 118 to 135.. bring it back to 118....
Sentiment: Strong Sell
i would not be surprised based on projections coming in for 2015 if the biggest sales side bull brought his price target down considerably.
Sentiment: Strong Sell
Cathie Wood, founder and CEO of ARK Investment Management, said athenahealth is using an Amazon model of reinvention -- HILARIOUS!!!!! Really, does ATHN really think that it can live up to AMZN in deceiving investors?
So after Sony and Anthem, suddenly Athena starts talking about it's service as SaaS and is toning down the head in the "cloud", internet/dotcom lingo so to speak. Coincidence? I think not. There is a reason why big hospital systems will never sign in any meaningful way to SaaS/Cloud based non-local-server-redundant health records. In an ambulatory setting, if the internet goes down or the system gets hacked, last year's colonoscopy or list of hypertensive meds is not as much a matter of life and death immediacy as say someone's post operative blood count. Cloud based EHR is possible and possibly advantageous if you have the right model and the right Cloud implementation. But Athena has neither. At least...not yet. Will they ever...? Focus? #alloverthemap
Anyone able to explain where the big earnings per share rise will happen in the years ahead? Current PE appears to be detached from stock price, so I'm looking for an explanation from the Longs. Thanks.
I mentioned that Athenahealth has acquired small-hospital EHR vendor RazorInsights for a rumored $40 million to give it an inpatient foothold. I really like what RazorInsights is doing in giving small hospitals an inexpensive, cloud-based system that covers both clinicals and financials, but I don’t see the benefit to Athenahealth in buying a four-year-old company with only a couple of dozen small customers. RazorInsights has much larger competitors (Meditech, CPSI, Medhost, NTT DATA, McKesson Paragon, etc.) with established infrastructure and most hospitals have already spent their money on a Meaningful Use dance partner, some of them even choosing to run Epic or Cerner as provided by another hospital (or to be acquired by those hospitals). Athenahealth has choked on its previous acquisition Epocrates, which is highly regarded but is stumbling even more than before under Athenahealth’s ownership. I think Athenahealth wants desperately to crack the inpatient market (after insulting that market for years), realizes it doesn’t have the expertise to build a new hospital system from scratch, and decided to spend money instead of time to get a name-plated product quickly to market and then ramp it up. The challenges are many:
•RazorInsights is small for a reason and not being owned by Athenahealth may not be it.
•Both product and company scalability are unknown.
•Few big companies have low-enough overhead to profitably roll out products to cash-strapped 25-bed hospitals.
•Expected synergies may (as they often do) prove to be elusive.
•Companies have been historically lured into unwise acquisitions because the product aroused them technically and filled a perceived immediate need at high expense (Allscripts buying Eclipsys).
I think Jonathan Bush will talk this up as though Athenahealth is the next Epic (or Salesforce or whatever high-flying comparison comes to mind), but the acquisition is just another distraction as the company tries desperately to keep its Wall S
Sentiment: Strong Sell