With the herd of electronic medical record companies growing rapidly, we can expect to see things thin out over the next two years. Once stage 1 and 2 Meaningful Use rules are finalized, be poised to start viewing a rapid genesis of companies joining forces and being acquired. Smaller firms will have to join forces or seek increased venture capital in order to compete with the market share grasped by monoliths such as GE Healthcare, McKesson, NextGen (QSI), INGENIX (United Health Group) and now Allscripts.
So what does this dynamic environment mean for the doctor looking for a certified EHR product?
We did some digging to see how some current acquisitions are taking place in terms of usability for those EHRs after restructuring.(more…)
It seems that the transitions are taking place relatively smoothly as a whole, and these companies are ready to help their users along the way in the transition. Some examples of these scenarios include the massive merger with Eclipsys by Allscripts and McKesson’s many and varied relationships with their EHR and HIT subsidiaries such as PracticePartner and RelayHealth. Even on a smaller scale with one MedLink International’s recent acquisition of MedAppz EHR.
The size and scale of these issues are driven by the legislation of HITECH, much like the EHR technology itself. Further integration and shifts in health informatics are a natural progression across the projected goals of improved effectiveness and reductions in costs of care. While surveying the market for the right EHR fit for your organization, be sure to keep in mind the hard facts about any growth technology industry.
When the dust settles, will your EHR be around? If not, how will the buyout or merger affect you?
Fear not, with the previous mergers in the industry things have transitioned quite smoothly on average. A majority of mergers are simply sound business decisions based on technological needs for regulation sufficiency. Some of these examples are McKesson’s non-competing partnerships turned acquisitions, and in this case why not incorporate operations to streamline product interaction. Or in the case of small firms like MedLink International, where their EHR may not have been as strong as some of the competition, given Meaningful Use requirements—the acquisition of MedAppz creates the ability to stay in the EHR game by providing a better software foundation for later development; thus to bolster their existing consulting and imaging/ PACs networks. MedLink has also recently received aide from an additional 2.25 million dollar capital investment.
About EHR, Scope, LLC
EHR Scope is a leader in electronic health record consulting and EMR education. They offer a variety of valuable resources to help physicians and practices navigate their way through the EMR software implementation process. EHR Scope includes a network of resources for EHR comparison, multimedia industry news and vital information to operating within current Healthcare legislation and guidelines for ARRA stimulus HITECH act. Check out www.ehrscope.com and www.ehrtv.com for more information.