CHICAGO, May 7 /PRNewswire-FirstCall/ -- Allscripts today announced that Cardinal Health (NYSE: CAH), one of the largest health care distributors in the country, will offer the Allscripts MyWay(TM) Electronic Health Record to its physician customers across the nation.
Surveys indicate 95 percent of physicians in small practices currently do not have an Electronic Health Record (EHR) and would need to adopt one to qualify for a maximum of between $44,000 and $64,000 per physician in new federal incentives. The American Recovery and Reinvestment Act of 2009 provides for the incentives over five years, beginning in fiscal 2011, for physicians who demonstrate meaningful use of a certified EHR system. Additionally, physicians who have not adopted a certified Electronic Health Record by 2015 will have their Medicare reimbursements reduced by 1 to 3 percent each year.
The addition of the Allscripts MyWay EHR to Cardinal Health's extensive portfolio of products and services enables the company to serve as a one-stop provider for physician practice's needs.
"Cardinal Health is committed to helping physicians improve the efficiency of their practices and the quality of the care they provide," said Kenny Wilson, senior vice president and general manager of Cardinal Health's Ambulatory Care business. "Our partnership with Allscripts is a great example of how Cardinal Health helps physician practices improve through the use of innovative technologies."
The Allscripts MyWay EHR is available as both a SaaS (Software as a Service) and on-premise solution, and offers robust capabilities for electronic health, practice management and claims management. The solution is designed to help small physician practices overcome cost and IT complexity barriers.
"Our partnership with Cardinal Health provides a trusted channel to help physician offices enter the electronic healthcare highway cost-effectively and with minimal IT headaches," said Glen Tullman, Chief Executive Officer of Allscripts. "As physicians move to take advantage of the stimulus incentives, our focus is on successful adoption and use of electronic health records, not simply acquisition."
Allscripts (Nasdaq: MDRX) uses innovation technology to bring health to healthcare. More than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organizations utilize Allscripts to improve the health of their patients and their bottom line. The company's award-winning solutions include electronic health records, electronic prescribing, revenue cycle management, practice management, document management, medication services, hospital care management, emergency department information systems and homecare automation. Allscripts is the brand name of Allscripts-Misys Healthcare Solutions, Inc. To learn more, visit www.allscripts.com.
This news release may contain forward-looking statements within the meaning of the federal securities laws. Statements regarding future events, developments, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties, some of which are outlined below. As a result, actual results may vary materially from those anticipated by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: the volume and timing of systems sales and installations; length of sales cycles and the installation process; the possibility that products will not achieve or sustain market acceptance; the timing, cost and success or failure of new product and service introductions, development and product upgrade releases; competitive pressures including product offerings, pricing and promotional activities; our ability to establish and maintain strategic relationships; undetected errors or similar problems in our software products; compliance with existing laws, regulations and industry initiatives and future changes in laws or regulations in the healthcare industry; possible regulation of the Company's software by the U.S. Food and Drug Administration; the possibility of product-related liabilities; our ability to attract and retain qualified personnel; our ability to identify and complete acquisitions, manage our growth and integrate acquisitions; the ability to recognize the benefits of the merger with Misys Healthcare Systems, LLC ("MHS"); the integration of MHS with the Company and the possible disruption of current plans and operations as a result thereof; maintaining our intellectual property rights and litigation involving intellectual property rights; risks related to third-party suppliers; our ability to obtain, use or successfully integrate third-party licensed technology; breach of our security by third parties; and the risk factors detailed from time to time in our reports filed with the Securities and Exchange Commission, including our 2007 Annual Report on Form 10-K available through the Web site maintained by the Securities and Exchange Commission at www.sec.gov. The Company undertakes no obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
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