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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 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 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.

Different Methods to Become a Top EMR Company

Posted on December 20, 2010 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 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.

A few months ago, the blogger over at Health Finch wrote blog post which analyzes 3 of the top health care IT companies and how they were started. It is very interesting to see the evolution of the large health care IT companies. Here’s the summary of the 3 companies Health Finch looked at:
Epic Systems – Started with Scheduling and Billing
Cerner – Started as a Laboratory Information System
McKesson – Started dong Rx Management

As a PS to the post, they point out Epocrates working on the same model with their Epocrates EMR. That is one of the most interesting things I’ve noted when attending the various EMR related conferences that I attend. There’s a whole variety of ways that EMR companies are approaching the market.

Another example of this trend is the Care360 EHR from Quest. Think about all the benefits that Quest has over many other providers. Sure, the most obvious one is that they have easy access to the lab data. You can be sure that an interface with Quest labs will be free (unlike most other EMR vendors). Although, certainly it also could be a challenge if you want your EMR to interface with another lab. That could be interesting.

However, Quest has a number of other advantages over a new EMR company. They have an entire sales force (which I think they prefer to call consultants) that already have existing relationships with thousands and thousands of doctors. Quest could literally only sell EMR software to their existing lab customer base and do fine. Of course, that’s probably not the best strategy, but that’s a powerful advantage over the other EMR companies.

There are a ton of other companies that we could talk about. Those entering ePrescribing first. Those transcription companies that are offering an EMR solution. I find it absolutely fascinating. So, if you know of others, I’d love to hear your EMR vendor’s story in the comments.

Suffice it to say that we’re in the middle of an all out war by EMR vendors. The good part is that it’s not likely to be a winner takes all affair, but there will be many many EMR vendors that will end up on the winning end.

HIMSS Healthcare IT Buyer’s Guide

Posted on June 9, 2009 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 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.

Many people have been coming to my site to figure out how they should select an EMR for their clinic. That’s such an important part of the process and hopefully something I write helps people to be more successful in that process. My favorite searches are those that say something like “top 10 EMR companies” As if Google will somehow send them the very best list of EMR companies out there. I’ve considered posting a list like that myself, but I just think there are more than 10 that are worth considering and they each have their pros and cons. How can I rank 2 EMR where one has better document management, but the other has better appointment integration. Plus, I think each clinical practice is so unique that what might be the top EMR for one practice might not even make the top 10 for another practice.

HIMSS has taken a different approach in creating their Healthcare IT Buyer’s guide. This guide they’re basically just a listing service for various healthcare IT companies including EMR and EHR companies. While I certainly think a listing of this nature is valuable (that’s why I started the EMR and EHR matrix of companies on the wiki) the problem I have with the list created by HIMSS is that you have to pay $395 a year in order to appear on the list. No wonder they only have 47 of the 300+ EMR/EHR companies. Plus, they even manipulate the placement on the list. Check out the pricing for better placement:
1st Place $1,500
2nd Place $1,250
3rd Place $1,100
4th Place $850
5th Place $500

Sounds like a good way for HIMSS to make money, but not a very good tool for those selecting an EMR. Instead, there are a bunch of free EMR selection tools out there that don’t have this bias in their listings. Try out those and you’ll be much happier with the results.