67 WALL STREET, New York - May 16, 2014 - The Wall Street Transcript has just published its Health Care IT Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Health Care - Affordable Care Act - Electronic Health Records Implementation - Healthcare IT Consolidation Trends - Data Analytics - Population Health Management
Companies include: Merge Healthcare Incorporated. (MRGE) and many more.
In the following excerpt from the Health Care IT Report, the CEO and President of Merge Healthcare Incorporated (MRGE) discusses company strategy and the outlook for this vital industry:
TWST: Tell us a bit more about the iConnect Network, which you launched late last year. How is it being received, and how have sales measured up to your expectations?
Mr. Dearborn: The high-level concept is delivering a solution that solves a real work-flow problem and has a compliance angle as well. The first offering under the iConnect Network suite is report delivery. We started with radiology, because it's our largest installed base, but we believe the solution is applicable in orthopedics and ophthalmology work flows as well.
Through our solution, the radiologist sends a report back to the referring physician in a seamless manner, with a link in the report to the image. Delivering the report and the image to the referring physician has always been a challenge; we solved this for radiology, and we will solve it for ophthalmology and orthopedics. This has been a problem for years, and it's still being solved to some extent, and not usually elegantly or in the way the meaningful use rules intended. The alternative is to burn a CD and hand it to the patient. We're delivering the report back into the referring physician's EHR system. Most primary care physicians will be on EMR by the end of this year.
The next offering of this solution will be order delivery, which is really the first step in the work flow. We will route the order from the primary care, referring physician to the radiology center electronically. That's still predominantly handled with phone calls and handwritten scripts, and there are meaningful use requirements that will mandate electronic orders with triggers and alerts as to whether the order was received and when the results are available, among other criteria. The government is going to help us there a little bit with adoption.
We just launched the report-delivery functionality in Q1, and we should have some revenue in Q2. The revenue will likely be immaterial in the overall picture of Merge; however, the expectations for the year were relatively modest. Hopefully we set those expectations appropriately in the market. We think we will start to see the momentum build with the number of facilities under contract and what the potential volume can be. This year is all about adoption - getting it out into the market and starting to build the flow.
TWST: Tell us a bit more about the iConnect Retinal Screening solution, how that fits in and what it could mean for Merge.
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.