Except that Slick J. Bush always has tricks up his sleeve... and it's been awfully quiet.
Headed below 100 this year, but between now and then?? Not so sure...
Yea, declining head and shoulders at that. Don't think that right shoulder can get high enough to not be a declining head and shoulders.
this baby is going BK. i have never seen balance sheet melt down like this. look at capitalized software. up 60% in 3 months. look at $95 million credit line draw. The sell side sluts are complete idiots. Trading this thing up on these numbers is idiotic. The cash burn in just three months is obscene. Buy all the puts you can. Einhorn nailed this.
This is a good company with 2 products: billing services and EMR (Electronic Medical Records). This is not a software company in the same way Microsoft or Oracle is. It will not have the compelling marginal income rates of a software vendor.
I have attended the steak dinners ATHN hosts where providers and staff are invited to a nice place like Ruth Chris' and given a brief overview of the EMR. I am certain one or more groups were successfully landed but the size groups in attendance were very small.
I am also aware of Athena's sales to large systems but it is not clear whether these will end in total implementations. I thought Johnathan dodged that question repeatedly on Bloomberg recently.
Privia is an interesting example of a joint venture that has some promise. Privia contracts with provider groups in the hopes of providing increased future income through better fees, additional services, improved management, etc. Privia uses Athena for its EMR and billing. Privia is growing but probably has somewhat of a sweetheart deal or a "cut" of the Athena revenue stream.
Billing companies make their money by performing the service of billing/collecting for a % of the received total often in the range of 5%. That 5% can be juicy if the gross billing gets to be a big number. However, there are costs associated with billing that are directly proportionate to the gross: the cost of the people supporting the process of appeals, corrections, re-bills, billing patient balances, coordination of benefits, etc. It also takes good management.
My understanding is that the EMR is a good product. There are a number of competitors whose releases seem to make them better received and then they fade. Some EMRs are attached to a local hospital system like Epic. Hopkins is compelling its implementation this year and includes its community relationships.
The reason I have purchased Sept puts is because I do not believe the current valuation makes sense for a
are you a competitor or ex-employee ? You do seem to have a bit of bitterness toward athn. . Not agreeing or disagreeing with you and I do like reading your viewpoints. i am just curious
It never ceases to amaze me what people get excited about with this company. The CEO makes a few pronouncements about things that haven't happened yet (and never do) and everyone goes nuts. As for Trinity Health...I think they just got sold a bill of goods? Innovation? It's basically the same software it was 10 years ago. And providers somehow keep getting suckered into this deal. I'm betting there's some hanky panky going on with stock options being offered as part of the contracts.
Athena is the Bush families joke on America.....after dad and is two idiot sons...now a nephew who is dirt too
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...