Electronic health records company Allscripts Healthcare Solutions Inc. (MDRX) is a leader in healthcare information tech, observes David Fried, an industry-lead expert in corporate repurchase programs and editor of The Buyback Letter.
It is one of the largest public companies focused exclusively on healthcare information technology globally, offering clinical, financial, population health management, transaction and managed IT services to healthcare providers, payers and life sciences companies.
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The company has some 9,500 employees worldwide, with clients and operations in 17 countries including Australia, Canada, India, Israel and the U.K. Its client base leads the industry, with more than 75,000 physician practices, 3,400 hospitals and 17.5 million connected consumers through FollowMyHealth.
FollowMyHealth offers a mobile, enterprise patient/consumer engagement platform for providers, hospitals and health systems who want to promote healthy patient populations and manage quality.
It can be customized to help organizations adapt to a changing healthcare environment by redefining how healthcare professionals interact with and engage their patients. Some 17 million patients used the portal in 2018.
Allscripts has been in the news recently, announcing that it has strengthened its strategic relationship with Pulse8, a leading player in healthcare analytics and technology.
It also announced a strategic partnership with Opargo, to strengthen Allscripts Practice Management revenue cycle software. Opargo leverages on predictive analytics to ensure that critical patients have hospital slots available, even at the last minute.
Another recent announcement was that its flagship platform, FollowMyHealth, will partner with Ephraim McDowell Health, which is expected to enhance the patient experience for millions of people and drive the digital transformation process in the U.S. healthcare industry.
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The company was recognized by Frost & Sullivan with the 2019 Best Practices Award for its population health management solutions. These awards recognize companies for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, and customer service.
Q4 revenue was $442.3 million, with profit of $374.7 million. Net income was $2.14 per share, and earnings were 20 cents per share.
For the year 2018, revenue was reported as $2.13 billion, a 16% increase from 2017. The company expects 2019 earnings per share between 65-70 cents Shares outstanding have been reduced by 5.263% in the last 12 months.
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