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Athenahealth, Inc. (ATHN) Message Board

  • mjanveaux mjanveaux May 13, 2008 9:14 PM Flag

    Let me tell you about Athena...

    This companies business model is dangerously flawed. They had a spectacular IPO and are trying to scale out as quickly as they can. I am intimately familiar with this industry and i'm telling you, that this company will fail. A lot of people think they're 'revolutionary' and I find this laughable. Anyone who has taken a hard look at Athena's processes and especially their systems (technology) would see what I'm talking about. On the product side, their software is horrible, and i've seen many physicians DUMP their product and services after being 'sold' on the total solution. On the service side, their billing operation is a MESS! So many write off's - I feel bad for their customers. They claim to be on the physicians side when in all reality they're going to cause physicians reimbursement to be lower and eventually alienate their own customers. Not only that - but look into their relationship with PSSI. I bet that PSSI sells their stake and Athena crumbles. PSSI will either dump the model completely or support a competitor who actually can do the job right - a real innovator. I'm not going to go much further into the detail, I could write a very long article on this subject - but I will tell you that this company if anything, is a very good short.

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    • For a supposed industry "expert" you're an idiot. You do not "get it" as to what differentiates athena from other vendors - its rules engine crushes any "claims scrubber" and allows athena clients to submit cleaner claims than by any other method.

    • I have been following Athena on the tech and service side from a physician perspective and they are very much flawed, they will go down the path of Emdeon or webmd and really amount to nothing more than a run of the mill billing company. This space is so dynamic and I think that a clear winner is not out there yet, I like some of the smaller companies like medlink international (MLKNA) which are now getting traction but with a very different approach

      • 1 Reply to nearterm
      • for someone that knows this space than you would know emdeon was part of webmd and is now a dying clearinghouse - very different than a PM/EMR vendor. I too follow this space and will tell you athena's tech is right at the top - like them or not. their biz model is second to none.

        I think there are some clear leaders emerging, athena, maybe as one, but we will see continued consolidation etc. i think if athena continues with its lighting growth rate and unique service that a large vendor will pick them up - my hope is for a large sum.

        best to all

    • their software has been rated the best in the industry for years and they are growing faster than any other HCIT compnay - i would think the shorts would have figured out by now that ATHN is not going away

    • Obviously another short trying to get out from under a bad decision. If you had done any research you would know that their customer retention/satisfaction rate is amazingly high for this industry as is their ability to improve the financial health of their clients. As for the technology behind the curtain, I go no further than pointing out who they have as COO and his experience in creating technology infrastructure. Do some research next time before you short a solid company that is on a fantastic growth curve.

      You made a bad decision, suck it up and take your medicine like a man.

 
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