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Top 100 EHRs by Revenue – Who Cares?

Posted on November 8, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Medical Economics put out a list that it’s just irresistible to those of us in healthcare IT. It’s a list of the Top 100 EHR vendors by revenue. I know that this is irresistible, because I did a post on EMR Thoughts back in 2011 listing the Top 100 Healthcare IT Companies by Revenue and still today it’s the top visited post on that site. Plus, when I saw the headline I couldn’t resist checking out the list myself.

While we all have to look when we see something like it, I think we need to be careful looking at these lists. They are filled with errors since the sources for such information aren’t that reliable. Not to mention there are a lot of ways to count revenue when you’re as large as these organizations. So, they can mislead you as much as lead you.

In fact, I know of a number of errors myself in the list. Although, the one that made me laugh the most was when I saw Meditech listed at 55. I literally openly laughed out loud that whoever created the list didn’t have enough common sense to know that it couldn’t be the case. Then, I took a second look at Meditech at 55 and realized that even the data in the chart shows that it shouldn’t be 55th on the list, but should be 4th on the list. They have them ranked based on $4.9 million in revenue instead of the $490 million which is listed. Those pesky decimals. I’ll have to give them my son’s 4th grade homework on decimals.

Of course, any of us could make that type of mistake. Stuff happens when you’re compiling a lot of data. Considering the way the page seems to be coded (manually I believe), I feel bad for whoever will have to adjust the list.

Another change they need to make is the acquisition of Greenway by Vitera. It looks like the combined entities would move them to 6th on the list and possibly higher.

Of course, the real question is whether any of this really matters. It’s great fodder for discussion. I have made the argument in the past that it’s important to understand the long term financial viability of the EHR organization you choose. However, revenue is just one of the measures of a company’s long term viability. There have been plenty of hundred million dollar companies who have failed. It’s about costs and revenue, not just revenues. Not to mention as the EHR industry consolidates, many of these companies are going to sunset their EHR product after they merge. So, is buying from a large EHR vendor any less risky than buying from a smaller EHR vendor?

As someone who lives, eats, and breathes EHR every day, this is fun for me to look at, but I don’t think it has much impact.

One-Fifth Of Physician Practices Might Switch EMRs

Posted on February 26, 2013 I Written By

Katherine Rourke is a healthcare journalist who has written about the industry for 30 years. Her work has appeared in all of the leading healthcare industry publications, and she's served as editor in chief of several healthcare B2B sites.

Here’s yet more evidence that this is the year of the “big switch” in EMRs, at least among physicians. A new survey by Black Book Market Research has concluded that about 23 percent of practices with currently implemented EMRs are unhappy enough with their current system to consider switching to a different vendor.

According to a piece in Medical Economics, doctors’ concerns include a lack of interoperability, excessively complicated connectivity and networking and problems with mobile device integration.

The survey, which reached out to 17,000 doctors, found that internal medicine docs had the highest rates of satisfaction (89 percent), followed  by family practice (85 percent), general practice (82 percent) and pediatrics.

The unhappiest specialists were nephrologists (88 percent), followed closely by urologists (85 percent) and ophthalmologists (80 percent).

So if a practice is going to switch vendors, what are they looking for? The Medical Economics piece listed five “must-have” features doctors voted for in the Black Book survey:

* vendor viability

* data integration and network sharing

* adoption of mobile devices

* health information exchange support and connectivity

* perfected interfaces with lab, pharmacy, radiology, medical billing partners, and others

Unfortunately, they won’t find it easy to find all of these features in a single EMR.  Of course, you faithful editor isn’t the be-all and end-all when it comes to EMR products (who could be?) but it seems to me that if even pricier enterprise products seldom offer all of these options, it’s decidedly unlikely that ambulatory products will. (OK, vendor viability is a judgment call, but in a world where so many practices don’t like their EMR, it’s hard to imagine that vendors are at their strongest.)

Folks, the truth is that it looks like we’re coming to a market crash of some kind. Physicians aren’t getting what they need from EMRs, but vendors aren’t keeping up, especially in the realm of specialty EMRs.

As if that wasn’t enough, the threat of fines looms for practices that don’t get their Meaningful Use act together, something they may have trouble doing if they’re in the midst of EMR shopping, installation and adoption.

Time is getting tight, and customers aren’t happy. Ambulatory vendors, what’s your next move?