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10/14/2021

Allscripts Launches Guided Scheduling, Leveraging Artificial Intelligence to Improve Patient Care and Increase Healthcare Operational Efficiencies

Allscripts® Practice Management clients who upgrade to the 21.0 release will have the opportunity to access AI functionality

CHICAGO–(BUSINESS WIRE)–Oct. 14, 2021–
Allscripts (NASDAQ MDRX) Guided Scheduling, launching in Allscripts Practice Management, is an artificial intelligence scheduling application that uses real-time provider, practice, and industry data to optimize providers’ days. The system looks at key clinical and operational metrics, allowing users to appropriately schedule each patient visit. Allscripts Guided Scheduling can result in the increased speed of high-need patients receiving care, the improved utilization of all resources across an organization, and the reduction of the impact of schedule churn (no-shows/last-minute changes and cancellations).

By embedding this functionality in the existing Allscripts Practice Management scheduling solution, set-up and configuration of Allscripts Guided Scheduling is designed to be simple, enabling system users to have minimal disruption to their existing workflows. One client, The Orthopedic Center in Easton, MD, has also used this functionality to onboard new staff members quickly.

“Our orthopedic practice is made up of various fellowship-trained orthopedic physicians along with physiatrists, physician assistants, nurse practitioners and rehabilitative services,” said Tracy E. Lyons, practice manager at The Orthopedic Center. “We originally looked at enabling Allscripts Guided Scheduling to optimize our scheduling but put it on the back burner due to all the challenges we faced with the pandemic. As we were navigating our way through staff shortages and training new staff, we decided that Guided Scheduling could ease the lengthy time it takes to train new staff by using our data and the predictive analytics now built into Allscripts Practice Management to onboard new staff members quicker than we have been able to in the past.”

Tina Joros, Allscripts Vice President and General Manager for Allscripts Practice Management, said, “I am very pleased for Allscripts to deliver Allscripts Guided Scheduling to our clients in our latest release. Leveraging real-time data, artificial intelligence, and proven principles from other industries can be a game changer for our clients and the entire healthcare market. Our goal is to continuously enhance our solutions to help our clients meet their practice goals and Guided Scheduling is a tool that can help them significantly in this effort.”

To deliver this solution, Allscripts partnered with Opargo to embed its engine within the application. Paul Wiley, Co-Founder and CEO of Opargo said, “I can’t be more excited to see this solution come to life with Allscripts. It is the perfect balance of market-leading technology within an existing workflow to deliver incredible results.”

Allscripts Guided Scheduling is the most recent example of the company’s focus on automation features in Allscripts Practice Management. Other solutions include Billing Automation, Automated Self-Pay Collections, and System Rule Manager. These solutions provide users with the ability to configure and manage highly customizable workflows that can streamline repetitive administrative steps within areas of an organization’s revenue cycle, enabling providers to focus on the care of their patients while Allscripts helps address the practice.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

10/05/2021

Veradigm Partners with CareMetx, LLC to Optimize End-to-End Specialty Medication Access and Services Streamlining Patient Care

New Strategic Partnership Will Simplify and Accelerate Specialty Approval Medication Process

CHICAGO–(BUSINESS WIRE)–Oct. 5, 2021–
Veradigm®, a leading provider of healthcare data and technology solutions and a business unit of Allscripts Healthcare Solutions (NASDAQ: MDRX), and CareMetx, a leading technology-enabled hub services company focused on improving patient access to specialty medications, announced today a new agreement for CareMetx to integrate its solutions and services directly into the Veradigm AccelRx® specialty medication platform.

The agreement will make Veradigm’s AccelRx automated solutions for specialty medication enrollment, among others, available directly to CareMetx clients. Empowering users of Veradigm and Allscripts® electronic health records to access CareMetx specialty medication patient access hub services via AccelRx. This combination strengthens the ability to reduce time to therapy for patients, thereby driving higher adherence to their prescribed care plan, while also minimizing administrative burden on medical practices.

To receive their specialty medication, a patient’s prescription must pass through a broad cross-section of healthcare industry stakeholders, from biopharma companies and payers, to specialty pharmacies and specialty medication hubs. A 2020 survey of prescribers, from Veradigm, found that 9 out of 10 physicians said patient medication adherence would improve if specialty medication prescriptions could be filled more easily and delivered to patients quicker, while 8 in 10 said accessing multiple specialty medication portals/hubs has a negative effect on their practice.1

“Veradigm is committed to transforming health insightfully for healthcare professionals managing the specialty medication approval process, and most importantly to better support their patients,” said Tom Langan, CEO of Veradigm. “This new agreement with CareMetx is our latest step toward that end. By working with hub services leaders like CareMetx, we can continue to drive improvement in the specialty medication fulfillment process and decrease patient wait times, enabling them to begin their prescribed therapies sooner. Reducing time-to-therapy, for these already complex medications in turn, can contribute to increased medication adherence and in the end better outcomes.”

Serving pharmaceutical, biotechnology and device manufacturers, CareMetx leverages a digital hub platform to provide efficient delivery of eServices. CareMetx leadership in patient access promotes efficiency in the healthcare ecosystem, removing barriers for patients and providers alike.

“The faster and more seamless the flow of secure healthcare data between leading specialty medication hubs like CareMetx and electronic health records, the better we can both serve patients and providers in simplifying the often-challenging process of fulfilling specialty medication prescriptions,” said Mark Hansan, Chief Executive Officer of CareMetx. “The scope and reach of Veradigm’s provider network offers opportunities to initiate essential patient support services and risk evaluation, all without the EHR user having to leave their workflow.”

1 Results of Veradigm ePrescribe physician user survey, conducted July 2020. Data on file.

About Veradigm®

Veradigm is an integrated data systems and services company that combines data-driven clinical insights with actionable tools to help healthcare stakeholders improve the quality, efficiency, and value of healthcare delivery— including biopharma, health plans, healthcare providers, health technology partners, and most importantly, the patients they serve. We are dedicated to simplifying the complicated healthcare system with next-generation healthcare solutions. This is how we are transforming health, insightfully. To learn more, visit http://www.veradigm.com. Veradigm® is a business unit of Allscripts.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

About CareMetx

CareMetx, LLC is a leading technology-enabled hub services platform facilitating patient access to specialty medications. Serving pharmaceutical, biotechnology and device manufacturers, CareMetx leverages digital eServices integrated in a cohesive platform to promote efficiency in the healthcare ecosystem and remove barriers for patients and providers. CareMetx is committed to delivering compassionate advocacy to patients, decision-making data and confidence-building insight to manufacturer clients. Headquartered in Bethesda, Maryland, CareMetx serves more than 80 brands. Learn more at www.caremetx.com.

Allscripts

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

CareMetx, LLC

Julie Kaplan

julie.kaplan@caremetx.com

Source: Allscripts Healthcare Solutions

09/15/2021

Eastern Health Selects Allscripts as One of Its Partners to Further Healthcare Innovation

Healthcare IT vendor and Canadian integrated health organization collaborate to support the creation of a network of innovators

CHICAGO–(BUSINESS WIRE)–Sep. 15, 2021–
Allscripts (NASDAQ: MDRX) is pleased to have been selected as one of Eastern Health’s innovation partners. As a result, Allscripts and Eastern Health have partnered to advance health-care services and programs while maximizing health system efficiencies and general economic development in Newfoundland and Labrador. The goal of this partnership is to improve health care and better serve its patients and their family members. Eastern Health is the largest health authority in Newfoundland and Labrador, serving residents on the Avalon, Burin and Bonavista Peninsulas.

Eastern Health and Allscripts will proactively seek out ideas and initiatives to enhance the development of innovative solutions while also creating the opportunity to generate revenue for Eastern Health. As part of this joint initiative, Allscripts’ Open Development Program will be accessible through Eastern Health’s Living Lab where researchers, developers, local start-ups, and established firms will be able to develop new solutions in the Allscripts ecosystem. Further, Eastern Health will support focused health-care information technology advancement and collaboration with Allscripts.

“We are pleased to welcome Allscripts as an innovation partner under our innovation strategy. We hope that by working together that we will be able to develop innovation solutions that focus on improving care for our patients while at the same time increasing value,” said David Diamond, President and CEO of Eastern Health. “We look forward to learning more about how Allscripts Open Platform can help co-design solutions to improve health care for our patients.”

“Eastern Health is a leader in healthcare innovation for Newfoundland and Labrador,” said Paul M. Black, Allscripts Chief Executive Officer. “Through this partnership, we are helping create an environment of collaboration to help drive healthcare information technology forward. We are committed to continuous innovation as we provide an Open Platform to meet the needs of providers and patients in Canada as well as across the globe.”

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial, and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers and consumers to make more informed decisions, delivering better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

08/18/2021

Allscripts hosts Developer Challenge: Advancing Health Equity Using Social Determinants of Health

Developer organizations share solutions with Allscripts to solve unique challenges in serving diverse patient populations

CHICAGO–(BUSINESS WIRE)–Aug. 18, 2021–
Allscripts (NASDAQ: MDRX) recently hosted its Advancing Health Equity Using Social Determinants of Health Developer Challenge in an effort to elevate solutions that use technology to share relevant social determinants of health patient information with care providers. Access to patients’ social determinants of health (SDOH) information is crucial in advancing health equity across patient populations—especially at a time when equitable access to healthcare is more important than ever. The event included a Keynote Fireside Chat with Dr. Micky Tripathi, the National Coordinator for Health IT, who shared an update on efforts by ONC and the Biden Administration more broadly to address the challenges associated with health inequities.

Eight developer organizations were selected for the final round of judging and had an opportunity to present their solution and respond to questions related to topics such as integration and workflow with existing Allscripts solutions, user input in the design of the solution, specific benefits for underserved patient populations and the ability of the solution to scale to a large number of users. Allscripts recruited developer organizations to help answer this question: “How can we use technology and innovative solutions to share relevant patient SDOH information with care providers to advance equity of healthcare access?”

The finalists presented a variety of solutions that will each advance access to information that could impact patient care:

  • Experian Health relies on consumer data assets, rather than patient surveys, to identify at-risk patients and arm care teams with actionable information around readmission risk and SDOH that could impact patient care.
  • Health Endeavors supports a care coordination tool and online SDOH questionnaire to help deliver a comprehensive health history that includes patient-generated data.
  • MedAware presented a patient-specific risk estimate for future dependency or overdose from a patient’s first opioid prescription and throughout the duration of treatment, enabling early intervention.
  • Myelin Solutions is a care collaboration platform for care teams to easily identify and close care gaps for their patient population using a variety of data sources.
  • PatientLink gives clinics the ability to capture SDOH from patients using a variety of platforms, including paper and digital forms from any device.
  • Phreesia provides the ability to electronically screen patients for SDOH risk factors across a variety of domains, utilizing either customized screening questions or standardized screening tools.
  • Welfie is a health equity platform that enables families to build a health profile by connecting their data and completing health assessments.

The challenge winner, Patient Orator, has created an easy way for patients and providers to address bias and health inequities by bridging the communication gap between patients and their health teams and facilitating meaningful conversations using technology. Its team of experts has standardized how patients identify their health concerns, care preferences, and social needs through its HIPAA-compliant mobile app. The organization is also aligning high-risk individuals with unmet socioeconomic and medical needs to social care organizations and healthcare providers to improve patient and community engagement, leveraging technology to improve health outcomes.

“Patient Orator was created by underserved people for underserved communities and is designed to make it easier for historically marginalized groups to gain access to needed resources and to help empower the voices of the unheard,” said Kistein Monkhouse, MPA, Founder and Chief Executive Officer of Patient Orator. “We are so grateful that Allscripts acknowledges how important advancing health equity is and want to thank the company for the opportunity to share our solutions with care providers across the continuum of care.”

“Through this initiative, we are giving clinicians an opportunity to have more meaningful interactions with patients that enable them to address the important aspects of the patient’s daily life that could make a difference in their overall health. We’re looking forward to working with the Patient Orator team and helping to enable this solution for Allscripts clients,” said Tina Joros, Allscripts Vice President and General Manager of the Open Business Unit and Practice Management Solutions. “I’m inspired to think about the enormous potential for good that we can do when we bring the information we gained from this challenge to the point of care.”

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial, and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers and consumers to make more informed decisions, delivering better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

08/05/2021

Allscripts Announces Second Quarter 2021 Results
  • Second quarter GAAP diluted EPS of $0.15; non-GAAP diluted EPS of $0.23, up 35% year-over-year
  • Generated $69 million of cash flow from continuing operations and $51 million of free cash flow in the second quarter
  • Increasing 2021 outlook for Adjusted EBITDA and free cash flow

CHICAGO–(BUSINESS WIRE)–Aug. 5, 2021– Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) (Allscripts) announced its financial results for the three and six months ended June 30, 2021.

Bookings(1) were $180 million in the second quarter of 2021. This result compares with $164 million in the second quarter of 2020. Contract revenue backlog totaled $3.9 billion as of June 30, 2021.

Second quarter 2021 revenue was $374 million compared with $369 million in the second quarter of 2020.

On a GAAP basis in the second quarter of 2021, income from operations was $10 million compared with a GAAP loss from operations in the second quarter of 2020 of $25 million. Non-GAAP income from operations in the second quarter of 2021 was $33 million compared with $25 million in the second quarter of 2020.

GAAP net income in the second quarter of 2021 totaled $22 million compared with net loss of $8 million in the second quarter of 2020. Non-GAAP net income in the second quarter of 2021 was $33 million compared with $28 million in the second quarter of 2020.

GAAP diluted earnings per share in the second quarter of 2021 was $0.15 compared with loss per share of $0.05 in the second quarter of 2020. Non-GAAP diluted earnings per share in the second quarter of 2021 was $0.23 compared with $0.17 in the second quarter of 2020.

Adjusted EBITDA totaled $69 million in the second quarter of 2021, compared with $54 million in the second quarter of 2020.

“In the second quarter, Allscripts continued to benefit from the actions we took to position the company on a sustainable path to improve margins, generate free cash flow and serve our clients with strategic innovations as they continue to manage through the pandemic. Our strong results enabled us to continue investing in our platforms to deliver value for our clients while at the same time maintaining disciplined cost management and returning a significant amount of capital to our shareholders,” said Paul M. Black, Allscripts Chief Executive Officer. “Looking ahead, we expect to benefit as health care providers, payors and life sciences companies shift their focus to acquiring best in class solutions from vendors that can deliver an integrated clinical and financial solution along with data and analytics that drive improved outcomes at the point of care.”

2021 Financial Outlook(2)

Allscripts is revising the following expectations:

  • Adjusted EBITDA between $265 million and $275 million, an increase from the prior outlook of between $240 million and $260 million
  • Free cash flow between $115 million and $125 million, an increase from the prior outlook of between $90 million and $100 million

Allscripts is affirming the following expectations:

  • Revenue of $1.5 billion
 

Conference Call

Allscripts will conduct a conference call today, Thursday, August 5th, 2021, at 4:30 PM Eastern Time to discuss its earnings release and other information. Participants may access the conference call via webcast at http://investor.allscripts.com. Participants also may access the conference call by dialing +1 (877) 269-7756 or +1 (201) 689-7817 (international) and requesting Conference ID # 13721061.

A replay of the call will be available approximately two hours after the conclusion of the call, for a period of four weeks, on the Allscripts Investor Relations website or by calling +1 (877) 660-6853 or +1 (201) 612-7415 – Conference ID # 13721061.

Supplemental and non-GAAP financial information is also available at http://investor.allscripts.com.

Footnotes

 

(1)

Bookings reflect the value of executed contracts for software, hardware and other client services on a continuing operations basis.

 

(2)

In providing financial guidance, the company does not reconcile Adjusted EBITDA and free cash flow to the corresponding GAAP financial measures. Allscripts does not provide guidance for the various reconciling items since certain items that impact GAAP net income and operating cash flow such as acquisition-related amortization, asset impairment charges and restructuring and other costs, any of which may be significant, are outside of its control and/or cannot be reasonably predicted. Please see the “Explanation of Non-GAAP Financial Measures” at the end of this press release for detailed information on calculating non-GAAP measures. For a reconciliation of other non-GAAP financial measures, see the non-GAAP financial reconciliation tables in this release (Tables 4, 5 and 6).

NOTE: All percentage changes described within this press release are calculated from full dollar amounts as illustrated in the accompanying financial statements and Allscripts Supplemental Financial Data Workbook, posted on the Investor Relations website. Rounding differences may occur when individually calculating percentages or totals from rounded amounts included within the press release body compared to full dollar amounts in the tables.

About Allscripts

Allscripts (Nasdaq: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.
Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our 2021 outlook, profitability initiatives, strategic priorities and selling environment expectations. These forward-looking statements are based on the current beliefs and expectations of Allscripts management, only speak as of the date that they are made and are subject to significant risks and uncertainties. Such statements can be identified by the use of words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “will,” “would,” “could,” “can,” “may,” “look forward,” “pipeline” and similar terms. Actual results could differ significantly from those set forth in the forward-looking statements, and reported results should not be considered an indication of future performance or events. Certain factors that could cause our actual results to differ materially from those described in the forward-looking statements include, but are not limited to: our ability to achieve the margin targets associated with our margin improvement initiatives within the contemplated time periods, if at all; the magnitude, severity and duration of the COVID-19 pandemic, including the impacts of the pandemic, along with the impacts of our responses and the responses by governments and other businesses to the pandemic, on our business, our employees, our clients and our suppliers; security breaches resulting in unauthorized access to our or our clients’ computer systems or data, including denial-of-services, ransomware or other Internet-based attacks; our use of the proceeds from the sale of our EPSi and CarePort businesses; the failure by Practice Fusion to comply with the terms of the settlement agreements with the U.S. Department of Justice (the “DOJ”); the costs and burdens of compliance by Practice Fusion with the terms of its settlement agreements with the DOJ; additional investigations and proceedings from governmental entities or third parties other than the DOJ related to the same or similar conduct underlying the DOJ’s investigations into Practice Fusion’s business practices; our ability to recover from third parties (including insurers) any amounts paid in connection with Practice Fusion’s settlement agreements with the DOJ and related inquiries; the expected financial results of businesses acquired by us; the successful integration of businesses acquired by us; the anticipated and unanticipated expenses and liabilities related to businesses acquired by us, including the civil investigation by the U.S. Attorney’s Office involving our Enterprise Information Solutions business; our failure to compete successfully; consolidation in our industry; current and future laws, regulations and industry initiatives; increased government involvement in our industry; the failure of markets in which we operate to develop as quickly as expected; our or our customers’ failure to see the benefits of government programs; changes in interoperability or other regulatory standards; our ability to maintain and expand our business with existing clients or effectively transition clients to newer products; the effects of the realignment of our sales, services and support organizations; market acceptance of our products and services; the unpredictability of the sales and implementation cycles for our products and services; our ability to manage future growth; our ability to introduce new products and services; our ability to establish and maintain strategic relationships; risks associated with investments and acquisitions; the performance of our products; our ability to protect our intellectual property rights; the outcome of legal proceedings involving us; our ability to hire, retain and motivate key personnel; performance by our content and service providers; liability for use of content; price reductions; our ability to license and integrate third-party technologies; risks related to global operations; variability of our quarterly operating results; risks related to our outstanding indebtedness; changes in tax rates or laws; business disruptions; our ability to maintain proper and effective internal controls; and asset and long-term investment impairment charges. Additional information about these and other risks, uncertainties, and factors affecting our business is contained in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Qs. We do not undertake to update forward-looking statements to reflect changed assumptions, the impact of circumstances or events that may arise after the date of the forward-looking statements, or other changes in our business, financial condition or operating results over time.

 
Table 1
Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
         
    June 30,   December 31,
 

2021

 

2020

ASSETS        
Current assets:        
Cash and cash equivalents  

$229.3

 

$531.1

Restricted cash  

2.1

 

6.4

Accounts receivable, net  

338.6

 

347.3

Contract assets  

120.0

 

106.7

Income tax receivable  

0.0

 

25.4

Prepaid expenses and other current assets  

151.0

 

136.3

Total current assets  

$841.0

 

$1,153.2

Fixed assets, net  

59.1

 

72.2

Software development costs, net  

182.8

 

193.2

Intangible assets, net  

261.3

 

286.6

Goodwill  

974.8

 

974.7

Deferred taxes, net  

5.9

 

5.8

Contract assets – long-term  

49.8

 

43.7

Right-of-use assets – operating leases  

75.1

 

96.6

Other assets  

90.5

 

91.6

Total assets  

$2,540.3

 

$2,917.6

         
LIABILITIES AND STOCKHOLDERS’ EQUITY        
Current liabilities:        
Accounts payable  

$26.8

 

$35.9

Accrued expenses  

88.8

 

100.2

Accrued compensation and benefits  

94.2

 

118.8

Deferred revenue  

364.0

 

334.8

Current operating lease liabilities  

19.6

 

22.3

Current liabilities attributable to discontinued operations  

2.7

 

322.8

Total current liabilities  

596.1

 

934.8

Long-term debt  

421.3

 

167.6

Deferred revenue  

2.8

 

3.4

Deferred taxes, net  

17.8

 

18.2

Long-term operating lease liabilities  

71.6

 

93.5

Other liabilities  

37.2

 

33.9

Total liabilities  

$1,146.8

 

$1,251.4

Total stockholders’ equity  

$1,393.5

 

$1,666.2

Total liabilities and stockholders’ equity  

$2,540.3

 

$2,917.6

         
 
 
Table 2
Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
(Unaudited)
                 
    Three Months Ended June 30,   Six Months Ended June 30,
   

2021

 

2020

 

2021

 

2020

Revenue:                
Software delivery, support and maintenance  

$219.6

 

 

$223.6

 

 

$442.3

 

 

$455.7

 

Client services  

154.1

 

 

145.7

 

 

299.8

 

 

295.0

 

Total revenue  

373.7

 

 

369.3

 

 

742.1

 

 

750.7

 

Cost of revenue:                
Software delivery, support and maintenance  

69.4

 

 

71.1

 

 

140.1

 

 

144.2

 

Client services  

122.6

 

 

131.2

 

 

240.7

 

 

279.4

 

Amortization of software development and acquisition-related assets (a)  

30.0

 

 

29.4

 

 

59.5

 

 

57.5

 

Total cost of revenue  

222.0

 

 

231.7

 

 

440.3

 

 

481.1

 

Gross profit  

151.7

 

 

137.6

 

 

301.8

 

 

269.6

 

Selling, general and administrative expenses  

79.1

 

 

109.9

 

 

160.8

 

 

202.7

 

Research and development  

51.2

 

 

46.0

 

 

100.4

 

 

105.4

 

Asset impairment charges  

5.2

 

 

0.0

 

 

5.2

 

 

0.0

 

Amortization of intangible and acquisition-related assets  

5.8

 

 

6.3

 

 

11.6

 

 

13.0

 

Income (loss) from operations  

10.4

 

 

(24.6

)

 

23.8

 

 

(51.5

)

Interest expense, net (b)  

(2.7

)

 

(10.1

)

 

(5.5

)

 

(20.2

)

Other  

16.4

 

 

15.2

 

 

17.1

 

 

15.3

 

Income (loss) before income taxes  

24.1

 

 

(19.5

)

 

35.4

 

 

(56.4

)

Income tax (provision) benefit  

(2.2

)

 

(2.0

)

 

(4.9

)

 

2.5

 

Income (loss) from continuing operations, net of tax  

21.9

 

 

(21.5

)

 

30.5

 

 

(53.9

)

Income (loss) from discontinued operations  

0.0

 

 

18.9

 

 

0.0

 

 

35.1

 

Gain (loss) on sale of discontinued operations  

0.0

 

 

0.0

 

 

0.6

 

 

0.0

 

Income tax (provision) from discontinued operations  

0.0

 

 

(4.9

)

 

(0.1

)

 

(9.1

)

Income (loss) from discontinued operations, net of tax  

0.0

 

 

14.0

 

 

0.5

 

 

26.0

 

Net Income (loss) attributable to Allscripts Healthcare Solutions, Inc. stockholders  

$21.9

 

 

($7.5

)

 

$31.0

 

 

($27.9

)

                 
Income (loss) from continuing operations per share – basic  

$0.16

 

 

($0.13

)

 

$0.22

 

 

($0.33

)

Income (loss) from discontinued operations per share – basic  

$0.00

 

 

$0.08

 

 

$0.00

 

 

$0.16

 

Income (loss) per share – basic  

$0.16

 

 

($0.05

)

 

$0.22

 

 

($0.17

)

                         
Income (loss) from continuing operations per share – diluted  

$0.15

 

 

($0.13

)

 

$0.21

 

 

($0.33

)

Income (loss) from discontinued operations per share – diluted  

$0.00

 

 

$0.08

 

 

$0.00

 

 

$0.16

 

Income (loss) per share – diluted  

$0.15

 

 

($0.05

)

 

$0.21

 

 

($0.17

)

                 
Weighted average common shares outstanding:                
Basic  

136.6

 

 

162.7

 

 

138.4

 

 

162.6

 

Diluted  

145.3

 

 

162.7

 

 

147.2

 

 

162.6

 

                 
    Three Months Ended June 30,   Six Months Ended June 30,
   

2021

 

2020

 

2021

 

2020

                 
(a) Amortization of software development and acquisition-related assets includes:                
Amortization of capitalized software development costs  

23.2

 

 

21.2

 

 

45.8

 

 

41.1

 

Amortization of acquisition-related intangible assets  

6.8

 

 

8.2

 

 

13.7

 

 

16.4

 

Total amortization of software development and acquisition-related assets  

$30.0

 

 

$29.4

 

 

$59.5

 

 

$57.5

 

                 
(b) Interest expense are comprised of the following for the periods presented:
Interest expense  

(1.1

)

 

(4.7

)

 

(2.4

)

 

(9.5

)

Interest income  

0.3

 

 

0.3

 

 

0.7

 

 

0.8

 

Non-cash charges to interest expense  

(1.9

)

 

(5.7

)

 

(3.7

)

 

(11.5

)

Interest expense, net  

($2.7

)

 

($10.1

)

 

($5.5

)

 

($20.2

)

 
 
Table 3
Allscripts Healthcare Solutions, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions)
(Unaudited)
                 
    Three Months Ended June 30,   Six Months Ended June 30,
   

2021

 

2020

 

2021

 

2020

Cash flows from operating activities:                
Net income (loss)  

$21.9

 

 

($7.5

)

 

$31.0

 

 

($27.9

)

Less: Income(loss) from discontinued operations  

0.0

 

 

14.0

 

 

0.5

 

 

26.0

 

Income (loss) from continuing operations  

$21.9

 

 

($21.5

)

 

$30.5

 

 

($53.9

)

Non-cash adjustments to net income (loss):                
Depreciation and amortization  

44.7

 

 

49.8

 

 

88.7

 

 

99.3

 

Non-cash lease expense, net  

(3.4

)

 

(5.3

)

 

(2.5

)

 

0.2

 

Stock-based compensation expense  

8.4

 

 

7.1

 

 

17.1

 

 

17.1

 

Deferred Taxes  

1.0

 

 

5.3

 

 

(0.1

)

 

3.1

 

Asset impairment charges  

5.2

 

 

0.0

 

 

5.2

 

 

0.0

 

Impairment (recovery) of long-term investments  

0.0

 

 

0.6

 

 

0.0

 

 

0.6

 

Other (income) loss, net  

(9.3

)

 

(18.4

)

 

(7.6

)

 

(19.7

)

Total non-cash adjustments to net income (loss)  

46.6

 

 

39.1

 

 

100.8

 

 

100.6

 

Cash impact of changes in operating assets and liabilities:                
Assets  

(19.8

)

 

7.3

 

 

21.9

 

 

31.7

 

Liabilities  

20.5

 

 

(9.6

)

 

(28.1

)

 

(25.1

)

Accrued DOJ settlement  

0.0

 

 

(15.7

)

 

0.0

 

 

(73.0

)

Total cash impact of changes on operating assets and liabilities  

0.7

 

 

(18.0

)

 

(6.2

)

 

(66.4

)

Net cash provided by (used in) operating activities – continuing operations  

69.2

 

 

(0.4

)

 

125.1

 

 

(19.7

)

Net cash provided by (used in) operating activities – discontinued operations  

(270.1

)

 

23.1

 

 

(321.5

)

 

38.7

 

Net cash provided by (used in) operating activities  

(200.9

)

 

22.7

 

 

(196.4

)

 

19.0

 

Cash flows from investing activities:                
Capital expenditures  

(0.7

)

 

(2.0

)

 

(3.1

)

 

(4.8

)

Capitalized software  

(17.4

)

 

(24.4

)

 

(35.5

)

 

(50.9

)

Cash received from sale of businesses  

1.0

 

 

0.0

 

 

1.0

 

 

0.0

 

Purchases of equity securities, other investments and related intangible assets, net  

0.0

 

 

(0.8

)

 

(0.2

)

 

(3.8

)

Sale of other investments  

0.2

 

 

23.2

 

 

1.9

 

 

23.2

 

Distribution received from investments  

1.4

 

 

0.0

 

 

1.4

 

 

0.0

 

Cash provided by (used in) investing activities – Continuing Operations  

(15.5

)

 

(4.0

)

 

(34.5

)

 

(36.3

)

Cash provided by (used in) investing activities – Discontinued Operations  

0.0

 

 

(2.4

)

 

0.0

 

 

(4.5

)

Net cash provided by (used in) investing activities  

(15.5

)

 

(6.4

)

 

(34.5

)

 

(40.8

)

Cash flows from financing activities:                
Taxes paid related to net share settlement of equity awards  

(7.9

)

 

(2.3

)

 

(13.9

)

 

(5.5

)

Payments for issuance costs on 0.875% Convertible Senior Notes  

0.0

 

 

0.0

 

 

0.0

 

 

(0.8

)

Repayment of Convertible Senior Notes  

0.0

 

 

(7.3

)

 

0.0

 

 

(7.3

)

Credit facility payments  

0.0

 

 

(87.5

)

 

0.0

 

 

(167.5

)

Credit facility borrowings, net of issuance costs  

250.0

 

 

75.0

 

 

250.0

 

 

285.0

 

Repurchase of common stock  

(109.0

)

 

0.0

 

 

(109.0

)

 

(9.7

)

Accelerated share repurchase program  

(200.0

)

 

0.0

 

 

(200.0

)

 

0.0

 

Payment of acquisition and other financing obligations  

(0.9

)

 

(1.5

)

 

(2.4

)

 

(4.4

)

Net cash provided by (used in) financing activities  

(67.8

)

 

(23.6

)

 

(75.3

)

 

89.8

 

Effect of exchange rate changes on cash and cash equivalents  

0.1

 

 

0.4

 

 

0.1

 

 

(0.3

)

Net increase (decrease) in cash and cash equivalents  

(284.1

)

 

(6.9

)

 

(306.1

)

 

67.7

 

Cash, cash equivalents and restricted cash, beginning of period  

515.5

 

 

212.1

 

 

537.5

 

 

137.5

 

Cash, cash equivalents and restricted cash, end of period  

$231.4

 

 

$205.2

 

 

$231.4

 

 

$205.2

 

 
 
Table 4
Allscripts Healthcare Solutions, Inc.
Condensed Non-GAAP Financial Information
(In millions, except per share amounts and percentages)
(Unaudited)
                 
    Three Months Ended June 30,   Six Months Ended June 30,
   

2021

 

2020

 

2021

 

2020

Gross profit, as reported

$151.7

 

 

$137.6

 

 

$301.8

 

 

$269.6

 

Acquisition-related amortization

6.9

 

 

8.2

 

 

13.8

 

 

16.4

 

Stock-based compensation expense

1.3

 

 

1.1

 

 

3.1

 

 

2.7

 

Restructuring and other

0.0

 

 

(1.2

)

 

0.0

 

 

3.0

 

Total non-GAAP gross profit

$159.9

 

 

$145.7

 

 

$318.7

 

 

$291.7

 

                 
Income (loss) from operations, as reported

$10.4

 

 

($24.6

)

 

$23.8

 

 

($51.5

)

Acquisition-related amortization

12.7

 

 

14.5

 

 

25.4

 

 

29.4

 

Stock-based compensation expense

10.3

 

 

7.5

 

 

22.1

 

 

18.4

 

Restructuring and other

0.0

 

 

27.2

 

 

0.0

 

 

36.2

 

Total non-GAAP income from operations

$33.4

 

 

$24.6

 

 

$71.3

 

 

$32.5

 

                 
Net income (loss) attributable to Allscripts Healthcare Solutions, Inc. stockholders, as reported

$21.9

 

 

($7.5

)

 

$31.0

 

 

($27.9

)

Loss (income) from discontinued operations

0.0

 

 

(18.9

)

 

0.0

 

 

(35.1

)

(Gain) on sale of business, net

0.0

 

 

0.0

 

 

(0.6

)

 

0.0

 

Income tax provision from discontinued operations

0.0

 

 

4.9

 

 

0.1

 

 

9.1

 

Income (loss) from continuing operations, net of tax

$21.9

 

 

($21.5

)

 

$30.5

 

 

($53.9

)

Acquisition-related amortization

12.7

 

 

14.5

 

 

25.4

 

 

29.4

 

Stock-based compensation expense

10.3

 

 

7.5

 

 

22.1

 

 

18.4

 

Restructuring and other

0.0

 

 

27.3

 

 

0.0

 

 

36.3

 

Non-cash charges to interest expense and other

(3.7

)

 

6.6

 

 

(2.4

)

 

12.4

 

Tax rate alignment

(8.2

)

 

(6.8

)

 

(14.4

)

 

(12.3

)

Non-GAAP net income attributable to Allscripts Healthcare Solutions, Inc.

$33.0

 

 

$27.6

 

 

$61.2

 

 

$30.3

 

                 
Non-GAAP effective tax rate

24

%

 

24

%

 

24

%

 

24

%

                 
Weighted shares outstanding – basic

136.6

 

 

162.7

 

 

138.4

 

 

162.6

 

Weighted shares outstanding – diluted

145.3

 

 

163.1

 

 

147.2

 

 

162.0

 

Less effect of convertible note hedges

(3.3

)

 

0.0

 

 

(2.9

)

 

0.0

 

Non-GAAP Weighted shares outstanding – diluted

142.0

 

 

163.1

 

 

144.3

 

 

162.0

 

                 
GAAP Income (loss) from continuing operations per share – diluted

$0.15

 

 

($0.13

)

 

$0.21

 

 

($0.33

)

Non-GAAP Income (loss) per share – diluted

$0.23

 

 

$0.17

 

 

$0.42

 

 

$0.19

 

 
 
Table 5
Allscripts Healthcare Solutions, Inc.
Non-GAAP Financial Information – Adjusted EBITDA
(In millions, except percentages)
(Unaudited)
                 
    Three Months Ended June 30,   Six Months Ended June 30,
   

2021

 

2020

 

2021

 

2020

Net income (loss) from continuing operations, as reported  

$21.9

 

 

($21.5

)

 

$30.5

 

 

($53.9

)

Plus:                
Interest expense and other, net (a)  

(15.6

)

 

5.8

 

 

(15.4

)

 

10.2

 

Depreciation and amortization  

44.7

 

 

49.8

 

 

88.7

 

 

99.3

 

Asset impairment charges  

5.2

 

 

0.0

 

 

5.2

 

 

0.0

 

Equity in net (income) loss of unconsolidated investments  

0.1

 

 

(16.8

)

 

0.1

 

 

(17.0

)

Tax provision/(benefit)  

2.2

 

 

2.0

 

 

4.9

 

 

(2.5

)

EBITDA  

$58.5

 

 

$19.3

 

 

$114.0

 

 

$36.1

 

Plus:                
Stock-based compensation expense  

10.3

 

 

7.5

 

 

22.1

 

 

18.4

 

Restructuring and other  

0.0

 

 

27.3

 

 

0.0

 

 

36.3

 

Adjusted EBITDA  

$68.8

 

 

$54.1

 

 

$136.1

 

 

$90.8

 

                 
Adjusted EBITDA margin (b)  

18.4

%

 

14.6

%

 

18.3

%

 

12.1

%

                 
(a) Interest expense and other, net has been adjusted from the amounts presented in the statements of operations in order to remove the amortization of the fair value of the cash conversion option embedded in the 1.25% and 0.875% Cash Convertible Notes and deferred debt issuance costs from interest expense since such amortization is also included in depreciation and amortization.
                 
(b) Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.
 
Table 6
Allscripts Healthcare Solutions, Inc.
Non-GAAP Financial Information – Free Cash Flow
(In millions)
(Unaudited)
                 
    Three Months Ended June 30,   Six Months Ended June 30,
   

2021

 

2020

 

2021

 

2020

Net cash provided by (used in) operating activities – continuing operations  

$69.2

 

 

($0.4

)

 

$125.1

 

 

($19.7

)

Cash flows from investing activities:                
Capital expenditures  

(0.7

)

 

(2.0

)

 

(3.1

)

 

(4.8

)

Capitalized software  

(17.4

)

 

(24.4

)

 

(35.5

)

 

(50.9

)

Free cash flow  

$51.1

 

 

($26.8

)

 

$86.5

 

 

($75.4

)

 

Explanation of Non-GAAP Financial Measures

Allscripts reports its financial results in accordance with U.S. generally accepted accounting principles, or GAAP. To supplement this information, Allscripts presents non-GAAP gross profit, gross margin, income from operations, Adjusted EBITDA, Adjusted EBITDA margin, effective income tax rate, net income, diluted earnings per share and free cash flow, which are considered non-GAAP financial measures under Section 101 of Regulation G under the Securities Exchange Act of 1934, as amended. The definitions of non-GAAP financial measures are presented below:

  • Non-GAAP gross profit consists of GAAP gross profit, as reported, and excludes acquisition-related amortization; stock-based compensation expense and restructuring and other costs. Non-GAAP gross margin consists of non-GAAP gross profit as a percentage of revenue in the applicable period. Reconciliations to GAAP gross profit are found in Table 4 within this press release.
  • Non-GAAP income from operations consists of GAAP income (loss) from operations, as reported, and excludes acquisition-related amortization; stock-based compensation expense; and restructuring and other costs. Reconciliations to GAAP income (loss) from operations are found in Table 4 within this press release.
  • Adjusted EBITDA is a non-GAAP measure and consists of GAAP net income/(loss), as reported, and adjusts for: depreciation and amortization; asset impairment charges; stock-based compensation expense; restructuring and other costs; interest expense and other, net; equity in net (income) loss of unconsolidated investments; and tax provision (benefit). Reconciliations to GAAP net income/(loss) are found in Table 5 within this press release.
  • Adjusted EBITDA margin is a non-GAAP measure that is calculated by dividing Adjusted EBITDA by revenue. See the reconciliations in Table 5 within this press release with respect to Adjusted EBITDA.
  • Non-GAAP effective income tax rate is based on non-GAAP pre-tax earnings and consists of the statutory federal income tax rate, Allscripts effective state income tax rate and adjustments for permanent differences.
  • Non-GAAP net income attributable to Allscripts Healthcare Solutions, Inc. consists of GAAP net income/(loss) from continuing operations, as reported, and adds back acquisition-related amortization; stock-based compensation expense; restructuring and other costs; non-cash charges to interest expense and other. Non-GAAP net income includes a GAAP to non-GAAP tax rate alignment adjustment. Reconciliations to GAAP net income/(loss) attributable to Allscripts Healthcare Solutions, Inc. are found in Table 4 within this press release.
  • Non-GAAP diluted weighted shares outstanding consists of diluted weighted shares outstanding, as reported, less the effect of the capped call hedges related to the 0.875% Convertible Notes.
  • Non-GAAP diluted earnings per share consist of non-GAAP net income, as defined above, divided by non-GAAP weighted shares outstanding – diluted during the applicable period.
  • Free cash flow consists of GAAP cash flows from continuing operations in the applicable period, net of capital expenditures and capitalized software costs. Reconciliations to GAAP cash flows from continuing operations are found in Table 6 within this press release.

Acquisition-Related Amortization. Acquisition-related amortization expense is a non-cash expense arising primarily from the acquisition of intangible assets in connection with acquisitions or investments. Allscripts excludes acquisition-related amortization expense from non-GAAP gross profit, non-GAAP operating income, and non-GAAP net income because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods because of new acquisitions and full amortization of previously acquired intangible assets. Investors should note that the use of these intangible assets contributed to revenue in the periods presented and will contribute to future revenue generation, and the related amortization expense will recur in future periods.

 

Stock-Based Compensation Expense. Stock-based compensation expense is a non-cash expense arising from the grant of stock-based awards. Allscripts excludes stock-based compensation expense from non-GAAP gross profit, non-GAAP operating income, non-GAAP net income and Adjusted EBITDA because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods as a result of the timing and valuation of grants of new stock-based awards, including grants in connection with acquisitions. Investors should note that stock-based compensation is a key incentive offered to employees whose efforts contributed to the operating results in the periods presented and are expected to contribute to operating results in future periods, and such expense will recur in future periods.

Restructuring and Other Costs. Restructuring and other costs relate to certain legal proceedings and investigations, consulting, severance, incentive compensation and other charges incurred in connection with activities that are considered not reflective of our core business. Other costs also include non-cash impairment charges based on management’s assessment of the likelihood of near-term recovery of the investments’ value.

Allscripts excludes restructuring and other costs, in whole or in part, from non-GAAP gross profit, non-GAAP operating income, non-GAAP net income and Adjusted EBITDA because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods.

Non-Cash Charges to Interest Expense and Other. Non-cash charges to interest expense include the amortization of the fair value of the conversion option embedded in the 1.25% Cash Convertible Notes and 0.875% Convertible Notes issued by Allscripts during the second quarter of 2013 and fourth quarter of 2019, respectively. Other includes non-recurring other income and expense and impairments on long-term investments.

Tax Rate Alignment. Tax rate alignment aligns the applicable period’s effective tax rate to the expected annual non-GAAP effective tax rate.

Management also believes that non-GAAP gross profit, gross margin, income from operations, effective income tax rate, net income, diluted earnings per share, Adjusted EBITDA, Adjusted EBITDA margin and free cash flow provide useful supplemental information to management and investors regarding the underlying performance of Allscripts business operations. Acquisition accounting adjustments and restructuring and other costs made in accordance with GAAP can make it difficult to make meaningful comparisons of the underlying operations of the business without considering the non-GAAP adjustments provided and discussed herein.

Management also uses this information internally for forecasting and budgeting, as it believes that these measures are indicative of core operating results. In addition, management may use non-GAAP gross profit, operating income, net income, diluted earnings per share, Adjusted EBITDA and/or Adjusted EBITDA margin to measure achievement under Allscripts stock and cash incentive compensation plans. Note, however, that non-GAAP gross profit, operating income, net income, diluted earnings per share, Adjusted EBITDA and Adjusted EBITDA margin are performance measures only, and they do not provide any measure of cash flow or liquidity. Allscripts considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after capital expenditures and capitalized software costs. Free cash flow provides management and investors a valuable measure to determine the quantity of capital generated that can be deployed to create additional shareholder value by a variety of means. Non-GAAP financial measures are not in accordance with, or an alternative for, measures of financial performance prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Allscripts results of operations as determined in accordance with GAAP. Investors and potential investors are encouraged to review the definitions and reconciliations of non-GAAP financial measures with GAAP financial measures contained within the attached condensed consolidated financial statements.

Investors:
Stephen Shulstein
312-386-6735
stephen.shulstein@allscripts.com

Media:
Tom Lynch
312-386-6765
tom.lynch@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

07/22/2021

Allscripts to Release Second-Quarter 2021 Financial Results August 5

CHICAGO–(BUSINESS WIRE)–Jul. 22, 2021–
Allscripts Healthcare Solutions, Inc. (Nasdaq:MDRX) will report its financial results for the three months ended June 30, 2021 after the close of stock market hours on Thursday, August 5, 2021. Allscripts management plans to host a conference call and webcast to discuss the company’s earnings at 4:30 p.m. Eastern Time that same day.

Second-Quarter 2021 Financial Results Call Details

The Allscripts earnings announcement will be distributed immediately after the close of regular stock market hours on Thursday, August 5, 2021. The announcement will also be available at Allscripts investor relations website.

To listen to the conference call, participants may log onto the Allscripts Investor Relations website. Participants also may access the conference call by dialing (877) 269-7756 or (201) 689-7817 and requesting Conference ID # 13721061.

A replay of the call will be available approximately two hours after the conclusion of the call, for a period of four weeks, on the Allscripts investor relations website or by calling (877) 660-6853 or (201) 612-7415 – Conference ID # 13721061.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts Healthcare Solutions, Inc.

06/23/2021

Veradigm and PRA Health Sciences Partner to Create the Industry’s Leading EHR-Based Clinical Research Network

Through this strategic partnership, the network aims to reach more than 25,000 physicians and 40 million patients, accelerating trial recruitment and enrollment efforts and expanding patients’ access to clinical research

CHICAGO–(BUSINESS WIRE)–Jun. 23, 2021– Veradigm®, a leading provider of healthcare data and technology solutions and a business unit of Allscripts Healthcare Solutions (NASDAQ: MDRX), and PRA Health Sciences, Inc. (NASDAQ: PRAH), one of the world’s leading global contract research organizations, announced today the creation of the industry’s leading electronic healthcare records-based clinical research network that reaches more than 25,000 physicians and 40 million patients across the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210623005202/en/

Using Veradigm’s StudySource platform, which extends existing EHR systems to include clinical research, alongside PRA’s proprietary eSource technology and clinical research expertise, this network will enable any of our physicians to offer clinical research as a care option (CRACCO) to their patients – driving efficiencies across the trial process and increasing the accessibility and diversity in clinical trials.

“The current approach to clinical trials is disconnected from healthcare delivery and requires manual data collection, which creates barriers for physicians and patients to participate. Today, less than one percent1 of the US population participates in clinical research, despite patients’ willingness to participate if asked2,” said Stephanie Reisinger, Vice President and General Manager of Veradigm’s Life Sciences Research business. “Under this agreement, the Veradigm and PRA-led network aims to transform the clinical research processes by extending EHR workflows to include clinical research as well as fully leveraging the rich data from digital healthcare delivery. The scale of Veradigm’s EHR footprint with PRA’s eSource technology and deep trial expertise will enable us to literally bring studies to where the patients are.”

In addition to being a burden on patients, clinical trials also can be a challenging process for trial sites and sponsors. Data management and monitoring are two of the most lengthy and costly stages of a clinical trial, yet much of this data already exists in EHR systems. With PRA’s proprietary eSource technology, data transfers can be automated from Veradigm’s EHRs to an electronic data capture system. This approach enables clients to speed drug development by decreasing the effort and time in this stage and reducing transcription errors, which provides improved data quality and reduces the need for costly source data verification.

“Integrating clinical research and clinical care is the model for achieving the best patient outcomes and for lowering costs for sponsors, physicians, and patients alike,” Kent Thoelke, Executive Vice President and Chief Scientific Officer, PRA Health Sciences. “With this partnership and network, we are leading the industry by expanding clinical research as a care option (CRACCO) to patients who have never had an opportunity to participate. We are evolving and modernizing the drug development paradigm by integrating it with everyday healthcare delivery.” Technologies supporting both Veradigm and PRA Health Sciences are securely hosted in the Microsoft Azure.

Contact us if you would like to learn more about the Veradigm and PRA and Clinical Research Platform.

1Source: Clinical Research Participation as a Care Option, PMG Research, 2015

2Source: Research! America, National Poll on Clinical Research, June 2013

About Veradigm®

Veradigm is an integrated data systems and services company that combines data-driven clinical insights with actionable tools to help healthcare stakeholders improve the quality, efficiency, and value of healthcare delivery— including biopharma, health plans, healthcare providers, health technology partners, and most importantly, the patients they serve. We are dedicated to simplifying the complicated healthcare system with next-generation healthcare solutions. This is how we are transforming health, insightfully. To learn more, visit http://www.veradigm.com. Veradigm® is a business unit of Allscripts.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

About PRA Health Sciences

PRA Health Sciences is one of the world’s leading global contract research organizations by revenue, providing outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes more than 75 offices across North America, Europe, Asia, Latin America, Africa, Australia and the Middle East and more than 19,000 employees worldwide. Since 2000, PRA has participated in approximately 4,000 clinical trials worldwide. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 95 drugs. To learn more about PRA, please visit www.prahs.com.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Investors:
Stephen Shulstein
312-386-6735
Stephen.Shulstein@allscripts.com

Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@allscripts.com

INVESTOR INQUIRIES: InvestorRelations@prahs.com

MEDIA INQUIRIES: Laurie Hurst, Sr. Director, Communications and Public Relations
hurstlaurie@prahs.com | +1 (919) 786-8435

Source: Veradigm and PRA Health Sciences, Inc.

06/14/2021

Leigh Burchell, Allscripts Vice President, Policy and Government Affairs, receives HIMSS21 Most Influential Women in Health IT Award

CHICAGO–(BUSINESS WIRE)–Jun. 14, 2021–
HIMSS has announced Leigh Burchell, Allscripts Vice President, Policy and Government Affairs, as a recipient of the HIMSS21 Most Influential Women in Health IT Award.

The Most Influential Women in Health IT Awards recognize and celebrate influential female leaders who harness the power of information and technology to transform health and healthcare. The winners are unique among power lists and award programs, and they are inclusive of all women of influence, no matter where they may be in the health information and technology field.

Burchell directs the Policy and Government Affairs function for Allscripts, including legislative advocacy and regulatory interpretation and comment. She is also active in many industry associations, including the Electronic Health Record Association (EHRA) as a past Chair and current leader of the Public Policy Workgroup; the eHealth Initiative, where she sits on the Leadership Council and the Policy Steering Committee; and HIMSS, where she is an active participant in the Public Policy Committee. She has relationships across the industry and experience on topics ranging from information exchange to the digital intersections between health equity and social determinants of health, information blocking to how health IT can assist with the opioid crisis.

Burchell will be recognized during the 2021 HIMSS Global Conference & Exhibition, held August 9-13, 2021 in Las Vegas, Nevada at the Venetian-Sands Expo Center.

“I appreciate HIMSS’ recognition of my hard work, and it’s been a pleasure to partner with them on numerous initiatives over my two decades at Allscripts,” said Burchell. “I admittedly tend to go on a bit when talking about opportunities for patients and healthcare as a whole now that health IT solutions are largely ubiquitous, but it is something I genuinely get excited about. So many people in my life – and me as a breast cancer survivor – have benefitted because our clinicians had a fuller picture when we were being treated, thanks to an EHR.”

Burchell continued, “The fact that health data can now be used to assess whole populations for necessary interventions or, conversely, to consider an individual’s most personalized genetic information during their treatment, is remarkable. It’s gratifying that HIMSS believes I play some small part in helping the industry move forward through my efforts to educate policy makers and other stakeholders about the many benefits of digitized health data.”

The Healthcare Information and Management Systems Society, Inc. (HIMSS) is a global advisor and thought leader supporting the transformation of the health ecosystem through information and technology.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

05/26/2021

Allscripts Announces New Share Repurchase Program

CHICAGO–(BUSINESS WIRE)–May 26, 2021–
Allscripts Healthcare Solutions announced today that its Board of Directors has approved a new share repurchase program under which Allscripts may purchase up to $350 million of its common stock. The new share repurchase program does not have a termination date.

The new share repurchase program replaces the previously existing share repurchase program, which authorized Allscripts to repurchase $300 million of its common stock through December 31, 2021. Allscripts repurchased the entire amount available under the prior program.

“Our strong balance sheet and financial performance enable us to expand our share repurchase program, which remains an attractive component of our capital deployment strategy,” said Rick Poulton, Allscripts President and Chief Financial Officer.

Allscripts plans to repurchase shares from time to time in the open market, through transactions that may be characterized as derivatives (including accelerated share repurchases), or in privately negotiated transactions, subject to market conditions. There is no guarantee as to the exact number of shares or value that will be repurchased under the stock repurchase program, and Allscripts may discontinue purchases at any time. Whether Allscripts makes any repurchases will depend on many factors, including but not limited to its business and financial performance, the business and market conditions at the time, including the price of Allscripts shares, and other factors that management considers relevant.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes a Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Statements regarding future events or developments, our future performance, as well as management’s expectations, beliefs, intentions, plans, estimates or projections relating to the future are forward-looking statements with the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties. As a result, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition. See our Annual Report on Form 10-K for 2020 and other public filings with the SEC for a further discussion of these and other risks and uncertainties applicable to our business. The statements herein speak only as of their date and we undertake no duty to update any forward-looking statement whether as a result of new information, future events or changes in expectations.

Investors:

Stephen Shulstein

312-386-6735

stephen.shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

05/25/2021

Veradigm Announces Collaboration With Lash Group to Streamline Patient Care

Allscripts and AmerisourceBergen businesses are accelerating the fulfillment of specialty medications through innovation and automation in support of physician practices, patient adherence and better outcomes

CHICAGO–(BUSINESS WIRE)–May 25, 2021– Veradigm®, a leading provider of data and technology solutions and a business unit of Allscripts Healthcare Solutions (NASDAQ: MDRX), today announced an agreement with Lash Group, a patient support services business, and a part of AmerisourceBergen. This relationship will enable specialty medications, supported by Lash Group, to be available for management within the Veradigm AccelRx™ platform, which streamlines the specialty enrollment process for users of Veradigm, Allscripts’ and other electronic health record (EHR) software vendors.

To obtain their specialty medication, a patient’s prescription passes through a range of healthcare stakeholders, including payers, patient support programs and pharmacies. All have long sought tech enablement, further upstream in the EHR and providers’ native workflow, to simplify and automate the analog work that drive gaps in clinical data, phone calls and faxes to the clinic and extended wait times for patients to receive their prescribed medications. Through this collaboration, Veradigm and Lash Group can deliver a frictionless solution that will drive efficiency, resulting in a streamlined process and increased speed-to-therapy.

Combining one of healthcare’s largest prescriber bases, an innovative cloud-based software solution, and decades of e-prescribing and prior authorization leadership, Veradigm AccelRx™ delivers a unique breakthrough solution that is helping to streamline specialty medication management for medical clinics and practices across the country.

“It is critical that new technologies are employed to get patients on their therapies more quickly to improve health outcomes. This strategic relationship with Lash Group is a major step in Veradigm’s progress toward expediting the specialty drug review, approval and fulfillment process,” says Tom Langan, Veradigm CEO. “In collaborating with a market leader with extensive reach like Lash Group, we enable our broad network of providers to access even more specialty medications through Veradigm AccelRx™. Together, we will make a meaningful difference for patients and the providers that serve them.”

“As the specialty pharmaceutical market has grown, we’ve continued to evolve our support to remove barriers, simplify the patient experience and accelerate patient access to the treatment they need,” said Lash Group President Tommy Bramley. “This collaboration with Veradigm is the latest example of how we are working with organizations across the industry to create robust, integrated offerings that further enhances our ability to support patients and improve their quality of life.”

Learn more about the Veradigm AccelRx™ solution here.

About Veradigm®

Veradigm is an integrated data systems and services company that combines data-driven clinical insights with actionable tools to help healthcare stakeholders improve the quality, efficiency, and value of healthcare delivery— including biopharma, health plans, healthcare providers, health technology partners, and most importantly, the patients they serve. We are dedicated to simplifying the complicated healthcare system with next-generation healthcare solutions. This is how we are transforming health, insightfully. To learn more, visit www.veradigm.com. Veradigm® is a business unit of Allscripts.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Investors:
Stephen Shulstein
312-386-6735
Stephen.Shulstein@allscripts.com

Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@allscripts.com

Source: Veradigm

05/13/2021

Blessing Health System Strengthens Its Allscripts Strategic Partnership

Health system selects platform of health and managed services to help achieve single clinical patient record across western Illinois, northeast Missouri and southeast Iowa

CHICAGO–(BUSINESS WIRE)–May 13, 2021–
Allscripts (NASDAQ: MDRX) is thrilled to publicize that client Blessing Health System, a not-for-profit healthcare organization located in Quincy, IL, has substantially expanded its Allscripts partnership to three facilities—Blessing Health Keokuk, Hannibal Clinic, and partner provider Scotland County Hospital. The health system has also acquired Allscripts Managed Services and has extended its agreement through 2028.

“Allscripts has been our trusted partner for more than 16 years. Its technology has helped us improve access to care and healthcare experiences for our patients,” said Maureen Kahn, President and Chief Executive Officer of Blessing Health System. “One of the greatest assets a partner like Allscripts can share with its affiliates is innovative technology. Leveraging the advanced solutions Blessing Health System and Allscripts have developed is the culmination of many parallel strategies, all converging to benefit the many communities we serve.”

Allscripts Sunrise™ is a comprehensive, contemporary platform of health, which connects all aspects of care. These including acute, ambulatory, surgical, pharmacy, radiology, and laboratory services. The platform also features an integrated revenue cycle and patient administration system. Sunrise is a clinician-friendly, evidence-based single platform with integrated analytics that helps deliver better health outcomes in hospitals around the world.

Allscripts Managed Services supports an organization’s infrastructure, Allscripts solutions and third-party applications. It also provides comprehensive service desk support and application management services, engaging in project delivery, strategic and leadership-planning activities.

“We are proud of our ability to grow and scale at the pace of our industry and our clients. This expansion aligns Allscripts long-term commitment to Blessing Health System,” said Allscripts Chief Executive Officer Paul Black. “We are honored to support Blessing’s success with our solutions as we enable the health system’s strategy of healthier connected communities. When partners share an ambitious, forward-looking, long-term vision, it creates a unique and highly valued fraternity, where we elevate a relationship to that of ‘trusted partner.’ We look forward to continued, shared success as we help Blessing provide excellent care for their ever-growing communities.”

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Tom Lynch

312-386-6765

Tom.lynch@allscripts.com

Source: Allscripts

05/10/2021

Allscripts to Present at the 2021 Bank of America Health Care Conference

CHICAGO–(BUSINESS WIRE)–May 10, 2021–
Allscripts (NASDAQ: MDRX) today announced that certain members of its management team will present at the 2021 Bank of America Health Care conference on Tuesday, May 11 at 11:00 am ET.

The live webcast and replay can be accessed at http://investor.allscripts.com under the “Events and Presentations” section of the website.

About Allscripts

Allscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

© 2021 Allscripts Healthcare, LLC and/or its affiliates. All Rights Reserved.

Allscripts, the Allscripts logo, and other Allscripts marks are trademarks of Allscripts Healthcare, LLC and/or its affiliates. All other products are trademarks of their respective holders, all rights reserved. Reference to these products is not intended to imply affiliation with or sponsorship of Allscripts Healthcare, LLC and/or its affiliates.

Investors:

Stephen Shulstein

312-386-6735

Stephen.Shulstein@allscripts.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@allscripts.com

Source: Allscripts

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