Allscripts Earnings Driven By EHR Adoption
Allscripts-Misys Healthcare Solutions Inc. reported a 17 percent increase in net income in the fiscal fourth quarter, due in part to a strong increase in professional services which were driven by the accelerated adoption and deployment of the company's electronic health records to hospitals and affiliated physicians.
During the company's quarterly conference call earlier this week, Allscripts' executives said net income for the three months ended May 31, 2010 was $15.7 million, compared to $13.4 million for the same period last year. Year over year revenue increased 14 percent, to $190.3 million from $166.3 million.
"These are extraordinary times in healthcare," said Glen Tullman, chief executive officer of Allscripts. "We continue to win additional share in the physician market led by our electronic health record solutions for physician groups and organizations of all sizes," Tullman added.
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