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CHICAGO–(BUSINESS WIRE)–Mar. 23, 2023–
Veradigm® (NASDAQ: MDRX), a leading provider of healthcare data and technology solutions, announced today that Black Book, a healthcare-centric market research and public opinion research and consulting company, has ranked Practice Fusion first for Allergy and Immunology and second for Rheumatology within its 2023 Ambulatory EHR by Physician Specialty category.
Practice Fusion, a Veradigm Network solution, is a cloud-based electronic health record (EHR) system designed specifically for independent practices, aiming to cater to the needs of medical professionals, service providers, and patients. It supports over 31,000 clinicians and helps drive better care for 5 million patients a month. Practice Fusion’s comprehensive system ensures secure and reliable access to all patient and practice information. The EHR is designed to streamline administrative tasks and provide clinicians with the tools they need to provide the best possible patient care. Practice Fusion’s wide range of features, including clinical charting, lab and imaging integrations, and e-prescribing, helps practice staff save time and increase efficiency.
“Black Book’s survey highlights Veradigm’s commitment to providing independent practices with the support, cloud technology and cost-effective tools they need,” said Tom Langan, President and Chief Commercial Officer of Veradigm. “We are very proud of this honor from Black Book and are committed to empowering independent healthcare providers.”
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit http://www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
© 2023 Veradigm LLC and/or its affiliates. All rights reserved. Cited marks are the property of Veradigm LLC and/or its affiliates. All other product or company names are the property of their respective holders, all rights reserved.
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Source: Veradigm
CHICAGO–(BUSINESS WIRE)–Mar. 22, 2023–
Veradigm Inc. (NASDAQ: MDRX), announced today an update on the status of its year-end audit procedures for 2022. As the Company disclosed on February 28, 2023, due to an expansion of year-end audit procedures, the Company filed with the SEC a Form 12b-25, extending the due date of its annual report on Form 10-K by 15 days, to allow for completion of those procedures.
The reason for the expanded audit procedures stems from detected internal control deficiencies related to revenue recognition, and this reasoning has not changed. While the nature of the internal control deficiencies has not changed, the volume of transaction testing and time periods to which they are being applied have increased to help ensure that any prior errors are fully quantified and corrected. As a result, the expanded audit procedures have not been completed, and as such, the Company has not yet filed its Form 10-K.
Because the Company has not yet filed its Form 10-K, the Company received a notice from Nasdaq indicating that the Company is no longer in compliance with the timely filing requirements for continued listing under Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the SEC. The notice from Nasdaq was expected under these circumstances, and it has no immediate impact on the listing or trading of the Company’s common stock. Pursuant to the terms of the notice, the Company has 60 days to file its Form 10-K or to submit a plan to regain compliance with Nasdaq’s continued listing requirements.
The Company previously estimated that the cumulative impact will be a reduction in revenue from continuing operations of approximately $20 million in the aggregate from what it otherwise reported since the 3rd quarter of 2021 and expected to report for the 4th quarter of 2022. As the expanded audit procedures are now being applied to earlier time periods, the Company anticipates that the cumulative impact will increase to approximately $40 million, but not exceed 5% of full year revenue from continuing operations for either 2021 or 2022. The Company has determined that the impact for 2021 will require a restatement of the Company’s financial statements as of and for the year ended December 31, 2021, and these restated amounts will accompany the 2022 Form 10-K filing.
The Company also believes that there will be an impact on the Company’s revenue from discontinued operations for the corresponding periods.
Finally, the Company is revising the following financial guidance for Fiscal 2023 issued on February 28, 2023 as follows:
• Revenue is expected between $615 million and $635 million, a decrease from the prior guidance of $625 million and $645 million
The Company is affirming the following financial guidance issued on February 28, 2023:
• Non-GAAP earnings per share is expected between $0.80 and $0.90
In providing financial guidance, the Company does not reconcile non-GAAP diluted earnings per share to the corresponding GAAP financial measure. The Company does not provide guidance for the various reconciling items since certain items that impact GAAP diluted earnings per share, any of which may be significant, are outside of its control and/or cannot be reasonably predicted. As a result, the Company is also not able to indicate the probable significance of such items.
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the Company’s beliefs and expectations relating to the filing of the Form 10-K and the results of the ongoing review, the financial impacts of the misstatements, including the preliminary financial information contained herein, and the Company’s guidance for its 2023 fiscal year. These forward-looking statements are based on the current beliefs and expectations of the Company’s management with respect to future events, 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,” “continue,” “can,” “may,” “look forward,” “aim,” and similar terms, although not all forward-looking statements contain such words or expressions. Actual results could differ significantly from those set forth in the forward-looking statements.
Important factors that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, a further material delay in the Company’s financial reporting, including as a result of unanticipated factors that could cause further delay, the possibility that the ongoing review may identify additional errors or control deficiencies in the Company’s accounting practices, the likelihood that the control deficiencies identified or that may be identified in the future will result in additional material weakness or material weaknesses in the Company’s internal control over financial reporting, the preliminary nature of the financial information contained herein, and the possibility that such results could materially change as they are finalized and audited, including as a result of unrelated corrections in prior periods, and other factors contained in the “Risk Factors” section and elsewhere in the Company’s filings with the SEC from time to time, including, but not limited to, its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. The Company does not undertake to update any 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 over time, except as required by law.
© 2023 Veradigm Inc. and/or its affiliates. All rights reserved.
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Investors:
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Concetta Rasiarmos
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Source: Veradigm Inc.
Top honors awarded in the 50+ physician category, placed in the top five across all physician group sizes
CHICAGO–(BUSINESS WIRE)–Mar. 14, 2023–
Veradigm® (NASDAQ: MDRX), a leading provider of healthcare data and technology solutions, announced today that Black Book, a healthcare-centric market research and public opinion research and consulting company, has ranked Veradigm Practice Management first for its 2023 Practice Management Solutions, 50+ Physician Groups category.
Veradigm Practice Management placed in the top five practice management solutions across all physician group size categories, including:
- #1 in 50+ Physician Groups
- #3 in 10-49 Physician Groups
- #4 in 4-9 Physician Groups
- #3 in 1-3 Physician Groups
Veradigm Practice Management is a comprehensive revenue cycle management solution for physician practices of all sizes and specialties. With over 20 years’ experience, Veradigm Practice Management is an EHR-agnostic solution that streamlines every step along the revenue cycle, from pre-appointment to final collections and data analysis.
“With best-in-class solutions like Veradigm Practice Management, we are supporting healthcare providers to optimize revenue, manage their day-to-day operations, engage in productive patient interactions, and save staff time,” said Tom Langan, President and Chief Commercial Officer of Veradigm. “This ranking demonstrates our continued commitment to help deliver a higher quality of care, more economically.”
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit http://www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
© 2023 Veradigm LLC and/or its affiliates. All rights reserved. Cited marks are the property of Veradigm LLC and/or its affiliates. All other product or company names are the property of their respective holders, all rights reserved.
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Investors:
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312-506-1237
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Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
Source: Veradigm
CHICAGO–(BUSINESS WIRE)–Feb. 28, 2023–
Veradigm Inc. (NASDAQ: MDRX), announced today that in conjunction with its year-end audit procedures it has detected certain internal control failures related to revenue recognition that have occurred over the prior six quarters, resulting in a mis-statement to reported revenues during those periods. As a result, the Company and its external auditors need to expand procedures and are filing with the SEC a Form 12b-25, extending the due date of the Company’s Form 10-K by 15 days, to allow for completion of those procedures.
The internal control failures primarily stem from a software tool the Company implemented in the 3rd quarter of 2021 to assist it with compliance with FASB’s rule ASC 606. While extensive testing was conducted on the tool when implemented in 2021, testing during the current period highlighted some system generated duplicate transactions and other errors impacting the results the Company was receiving from the tool. The Company has engaged external advisory services to fully quantify the past impact, review system changes, and recommend compensating controls to prevent and detect similar potential errors in the future.
While the work is not yet finalized, the Company estimates that the cumulative impact will be a reduction in revenue from continuing operations of approximately $20 million dollars in the aggregate from what it otherwise reported since the 3rd quarter of 2021 and expected to report for the 4th quarter of 2022. The Company is continuing to evaluate the materiality of the mis-statement to determine if the full amount of this adjustment will flow through in the 4th quarter of 2022 or if prior periods will also require adjustment, but at this point no conclusion has been reached. The revenue adjustment will also impact reported Operating Income and Net Income from Continuing Operations for the respective periods, but at a lower dollar amount. The revenue adjustment will have no impact on reported cash flows from continuing operations for the respective periods.
As a result of the additional work the Company and its external auditors will be conducting, the Company will delay its previously announced earnings call from March 1st to a later date that will be scheduled closer to its Form 10-K filing date.
Based on the above information, the Company is modifying its previously issued financial guidance for Fiscal 2023 as follows:
- Revenue is expected between $625 million and $645 million, versus the previous range between $640 million and $660 million
- Non-GAAP earnings per share is expected between $0.80 and $0.90, versus the previous range between $0.90 and $1.00
In providing financial guidance, the Company does not reconcile non-GAAP diluted earnings per share to the corresponding GAAP financial measure. The Company does not provide guidance for the various reconciling items since certain items that impact GAAP diluted earnings per share, any of which may be significant, are outside of its control and/or cannot be reasonably predicted. As a result, the Company is also not able to indicate the probable significance of such items.
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding our financial performance and results of operations and our beliefs and expectations relating to the filing of the Form 10-K and the results of the ongoing review. These forward-looking statements are based on the current beliefs and expectations of our management with respect to future events, 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,” “continue,” “can,” “may,” “look forward,” “aim,” and similar terms, although not all forward-looking statements contain such words or expressions. Actual results could differ significantly from those set forth in the forward-looking statements.
Important factors that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, a material delay in the Company’s financial reporting, including the possibility that the Company will not be able to file its Form 10-K within the fifteen-day extension period permitted by the rules of the SEC, including as a result of unanticipated factors that could cause delay, the possibility that the ongoing review may identify additional errors or control deficiencies in the Company’s accounting practices, the likelihood that the control deficiencies identified or that may be identified in the future will result in a material weakness in the Company’s internal control over financial reporting, the preliminary nature of the financial results contained herein, and the possibility that such results could materially change as they are finalized and audited, including as a result of unrelated corrections in prior periods, the possibility that the process may ultimately result in a restatement of the Company’s financial statements, and other factors contained in the “Risk Factors” section and elsewhere in the Company’s filings with the SEC from time to time, including, but not limited to, its annual report on Form 10-K and its quarterly reports on Form 10-Q. We do not undertake to update any 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 over time, except as required by law.
© 2023 Veradigm Inc. and/or its affiliates. All rights reserved.
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Investors:
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312-506-1237
jenny.gelinas@veradigm.com
Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
Source: Veradigm Inc.
Pharmaceutical executive Susan Rodriguez and digital health/pharma services entrepreneur Dr. Shih-Yin Ho join Board of Directors
CHICAGO–(BUSINESS WIRE)–Feb. 22, 2023–
Susan Rodriguez and Shih-Yin Ho, MD have been named to the Board of Directors of Veradigm Inc. (NASDAQ: MDRX). With their combined experience in the pharmaceutical industry, digital health, and healthcare, together they bring a wealth of experience to Veradigm, to help build upon the company’s vision of transforming health, insightfully.
Ms. Rodriguez joins the Veradigm Board with over 30 years of experience in the biopharmaceutical industry, in a broad range of executive leadership roles. She currently serves as Chief Commercial Officer at Ardelyx, Inc., where she has been responsible for leading the commercial build out to launch first-in-class medicines into the gastroenterology and nephrology therapeutic segments. Prior to this, Ms. Rodriguez served as the Chief Executive Officer of Tolmar Pharmaceuticals, Inc. a specialty oncology company. In 2019, she was named President of the branded division upon the formation of the global entity, Tolmar, Inc. Prior to Tolmar, Ms. Rodriguez joined Abbott Laboratories in 1990, and held various leadership positions there until 2014, most recently as Divisional Vice President of Global Marketing. In addition to her professional experience, she also currently serves on the boards of Heron Therapeutics Inc. and Cuba Emprende Foundation, a non-profit organization. Ms. Rodriguez received both a bachelor’s degree and master’s degree in Psychology from the University of Pennsylvania.
Dr. Ho joins Veradigm’s Board as a seasoned digital health, software, and pharmaceutical services entrepreneur, executive, and advisor, having spent over 20 years developing products and companies in health information infrastructure, data analytics, and decision support for life sciences. Dr. Ho currently serves as the Chief Executive Officer and Co-Founder of Last Mile Research, an organization she co-founded in 2021, dedicated to transforming how life science companies source talent for clinical trials. Before this, she served as President of Glimpse LLC, an independent software and strategy consulting firm serving pharmaceutical services companies. Prior to Glimpse, Dr. Ho held leadership positions with Aetion Inc., a provider of real-world evidence software solutions for life science companies and payers along with two other organizations, Medidata and Pfizer. Dr. Ho was also the Founder & CEO of Context Matters Inc., which was later acquired by Decision Resources Group and then Clarivate PLC. Dr. Ho began her career as an emergency medicine physician before deciding to pursue opportunities in the e-health industry in 1998. Currently, Dr. Ho serves on the board of directors at Genesis Research and PS3til6, a non-profit organization. She earned her bachelor’s degree from Brown University before completing her M.D. from Yale University School of Medicine and an M.B.A. from Harvard Business School.
“Susan Rodriguez and Dr. Shih-Yin Ho are strong additions to our Board. Their deep experience and leadership will further bolster our efforts to build the Veradigm Network and serve Veradigm stakeholders,” said Chairman of the Board Greg Garrison. “Susan and Yin have proven track records of driving greater value, and their life science industry expertise will complement their fellow directors as we grow our payer and life science businesses.”
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit http://www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube.
© 2023 Veradigm LLC and/or its affiliates. All rights reserved. Cited marks are the property of Veradigm LLC and/or its affiliates. All other product or company names are the property of their respective holders, all rights reserved.
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Investors:
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Source: Veradigm
CHICAGO–(BUSINESS WIRE)–Feb. 21, 2023–
Veradigm®, Inc. (NASDAQ: MDRX), will report its financial results for the three and twelve months ended December 31, 2022 after the close of the regular stock market hours on Wednesday, March 1, 2023. Veradigm 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.
Fourth-Quarter 2022 Financial Results Call Details
To listen to the conference call, participants may log onto the Veradigm Investor Relations website. Participants also may access the conference call by dialing 877-269-7756 or 201-689-7817 and requesting Conference ID # 13735356.
A replay of the call will be available for a period of a year on the Veradigm investor relations website.
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
© 2023 Veradigm LLC and/or its affiliates. All rights reserved. Cited marks are the property of Veradigm LLC and/or its affiliates. All other product or company names are the property of their respective holders, all rights reserved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005785/en/
Investors:
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312-506-1237
jenny.gelinas@veradigm.com
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312-447-2466
concetta.rasiarmos@veradigm.com
Source: Veradigm
Veradigm Cardiology and Veradigm Metabolic Registry Data Now Available Through the HealthVerity IPGE Platform
CHICAGO & PHILADELPHIA, February 13, 2023–(BUSINESS WIRE)–Veradigm®, a leading provider of healthcare data and technology solutions (NASDAQ: MDRX), and HealthVerity®, a leader in Identity, Privacy, Governance, and Exchange (IPGE) for real-world data, today announced a collaboration that will advance real-world research and improve patient care for those with cardiovascular disease and diabetes. The collaboration makes Veradigm’s data from their Cardiovascular and Metabolic Registries fully interoperable with de-identified patient data from HealthVerity Marketplace, the nation’s largest healthcare and consumer data ecosystem.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230213005187/en/
The HealthVerity IPGE platform is an integrated technology and real-world data (RWD) infrastructure that allows disparate data to be accurately resolved to unique privacy-protected identities, then linked in a HIPAA-compliant manner and exchanged for a myriad of use cases. By connecting Veradigm’s Cardiology and Metabolic registries with broad scale healthcare and consumer data from HealthVerity, the collaboration provides clinical researchers with unprecedented access to regulatory-quality, HIPAA-compliant and research-ready data to advance analytics and treatments for these prevalent conditions.
The Veradigm Cardiology Registry is the largest U.S. outpatient cardiovascular quality improvement registry, with 102+ million records, representing 18.9+ million unique patient lives, 13,000 providers and 4,000 office locations. The registry captures data on coronary artery disease (CAD), heart failure (HF), atrial fibrillation (AF), hypertension (HTN) and peripheral arterial disease (PAD). It follows cardiac patients across their journey, tracking key measures, including patient demographics, plan of care, cardiac events and comorbidities, exams, procedures, lab values, related medications, and more.
The Veradigm Metabolic Registry is the first clinical ambulatory registry aimed at tracking and improving the quality of prediabetes, diabetes, and cardiometabolic care across the primary and specialty care continuum. The registry has 79+ million records, representing 13.5+ million unique patient lives, 11,100 providers, and 3,400 office locations. Key measures captured include patient demographics, A1c control, nephropathy, blood cholesterol, hypertension eye exam, foot exam, antiplatelet therapy and more. Additionally, Veradigm’s electronic health record (EHR) data from the most recent five years is incorporated, representing over 176 million patients with clinical activity, as well as Veradigm medical claims and remittance data for 300 million medical claims captured in a rolling two-year period.
“Veradigm provides life science researchers scalable access to real-world clinical data via our direct connection with the point-of-care,” said Stuart Green, Senior Vice President and General Manager, Veradigm. “With Veradigm’s Registry and EHR data on the HealthVerity platform, we are extending the reach of the Veradigm Network to further support improvements in patient care at scale.”
The collaboration between Veradigm and HealthVerity leverages the industry’s most accurate patient matching and identity resolution technology, a key component of the HealthVerity IPGE Platform, which will allow researchers to discover more comprehensive longitudinal patient journeys without the patient fragmentation inherent in more traditional patient tokenization solutions.
“Diabetes is a top driver of healthcare spend and, as we enter Heart Health Month, we are reminded of the need for comprehensive treatments for heart disease, a leading cause of death in the United States,” said Andrew Kress, CEO of HealthVerity. “This collaboration will enable far greater contextualization of important registry data and will provide a more holistic view of these patients’ journeys. Life Sciences organizations and clinical researchers can now obtain comprehensive patient-level data in a privacy-protected manner that offers real-world insight into the patient to ultimately improve care for these ubiquitous conditions.”
About HealthVerity
Pharmaceutical manufacturers, payers, and government organizations have partnered with HealthVerity to solve some of their most complicated use cases through transformative technologies and real-world data infrastructure. The HealthVerity IPGE platform, based on the foundational elements of Identity, Privacy, Governance, and Exchange, enables the discovery of real-world data across the broadest healthcare data ecosystem, the building of more complete and accurate patient journeys and the ability to power best-in-class analytics and applications with flexibility and ease. Together with our partners, HealthVerity has built the modern way to data for the health insights economy. To learn more about the HealthVerity IPGE platform, visit www.healthverity.com.
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
© 2023 Veradigm Inc. and/or its affiliates. All rights reserved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230213005187/en/
Contacts
Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@veradigm.com
Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
Colleen Stoker
614-738-0592
cstoker@healthverity.com
Veradigm FollowMyHealth customer satisfaction has improved more than any other software solution over the past year, strengthening patient care and experience
CHICAGO–(BUSINESS WIRE)–Feb. 9, 2023–
Veradigm Inc. (NASDAQ: MDRX), announced today that Veradigm FollowMyHealth (formerly FollowMyHealth), a leading mobile-first patient engagement platform, was recently recognized by KLAS, a prominent healthcare solution evaluator, as Most Improved Software Product in its 2023 Best in KLAS report.
With a mobile-first approach, Veradigm FollowMyHealth helps meet patients on their terms and delivers patient accessibility with an integrated approach to patient engagement. A complete patient care experience promotes a collaborative environment with ease of access and convenience. Veradigm FollowMyHealth offers a real-time gateway across demographic groups, while producing an immediate, proven value for independent practices and health systems. With growing healthcare utilization, Veradigm FollowMyHealth brings timing and technology together, helping improve both the patient and healthcare provider’s experiences.
“As a patient engagement leader for over ten years, Veradigm FollowMyHealth is constantly working to improve our solutions and delight both our clients and the patients that depend on us,” said Kim Franks, Veradigm’s Vice President and General Manager of Consumer. “This recognition by KLAS represents and rewards the focus and hard work our teams put into modernizing and improving our platform. We are proud to be able to provide options to tailor the patient experience in ways that can direct address the needs of our clients in the ever-changing landscape of healthcare.”
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
View source version on businesswire.com: https://www.businesswire.com/news/home/20230209005325/en/
Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@veradigm.com
Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
Source: Veradigm Inc.
New delivery format for three integrated electronic health record (EHR) sources to provide delivery flexibility for Veradigm clients
CHICAGO–(BUSINESS WIRE)–Jan. 30, 2023–
Veradigm (NASDAQ: MDRX) announced today that Veradigm Network EHR Data is now available within the OMOP CDM format. Veradigm Network EHR is a complete statistically deidentified dataset containing three integrated EHR sources. This source dataset is now available in the OMOP CDM version 5.3.1.
Veradigm Network EHR Data contains more than 170 million patients and provides deidentified, real world data from an extensive national population of patients drawn from physician practices using a variety of EHR products. Veradigm Network EHR Data is built from ambulatory EHRs—where most of the care and patient record generation happens in the United States. It is one of the largest EHR data sets available and is designed for research purposes.
“The transformation of Veradigm Network EHR Data into the OMOP data set will facilitate data sales for clients who need the data delivered in OMOP format,” said Stuart Green, Senior Vice President and General Manager of Veradigm. “This new delivery format will provide the flexibility our clients need so they can answer research questions critical to their business.”
The OMOP CDM is an open community data standard, designed to standardize the structure and content of real-world data. Standardized systematic analytics can be applied to the CDM data, enabling efficient analyses and reliable evidence. The OMOP CDM is maintained by the Observational Health Data Sciences and Informatics (OHDSI) collaborative, a multi-stakeholder, inter-disciplinary effort to bring out the value of observational health data through large-scale analytics. OHDSI maintains an open-source library of analytical tools for research and performance measurement using the OMOP CDM.
Veradigm’s Evalytica® platform, a real-world evidence analytics application will now fully integrate with the Veradigm Network EHR OMOP data and enable cost effective, transparent, and efficient analysis of this real-world data. Both internal and external user groups will now be able to use Veradigm Evalytica to build code sets, define re-usable cohorts and conduct analysis on OMOP’d Veradigm Network EHR Data.
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005128/en/
Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@veradigm.com
Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
Source: Veradigm
CHICAGO–(BUSINESS WIRE)–Jan. 11, 2023–
Veradigm Inc. (NASDAQ: MDRX), formerly Allscripts Healthcare Solutions, Inc., announced today that its Board of Directors has approved a new share repurchase program under which Veradigm may purchase up to $250 million of its common stock. The new share repurchase program does not have a termination date and replaces the previous authorization to repurchase $250 million of common stock which was almost fully utilized during 2022. In the fourth quarter of 2022 Veradigm repurchased $57 million of its common stock, bringing its full year total to $234 million.
The company also introduced initial financial guidance for Fiscal 2023 as follows:
- Revenue is expected between $640 million and $660 million
- Non-GAAP earnings per share is expected between $0.90 and $1.00
The company will report its financial results for the three and twelve months ended December 31, 2022 after the close of the regular stock market hours on Thursday, February 23, 2023. Veradigm 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.
To listen to the conference call, participants may log onto the Veradigm Investor Relations website. Participants also may access the conference call by dialing 877-269-7756 or 201-689-7817 and requesting Conference ID # 13735356.
A replay of the call will be available for a period of a year on the Veradigm investor relations website.
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
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 2023 outlook. These forward-looking statements are based on the current beliefs and expectations of Veradigm 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,” “aim” 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 growth strategy, if at all; 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; investigations and proceedings from governmental entities or third parties other than the DOJ related to the same or similar conduct underlying the DOJ’s prior 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; risks associated with the disposition of our Hospitals and Large Physician Practices Business; 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 former Enterprise Information Solutions business; other risks associated with investments and acquisitions; 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; market acceptance of 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; 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, including the impact of generalized labor shortages; 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; asset and long-term investment impairment charges; and inflationary pressures and macroeconomic volatility, including impacts related to the COVID-19 pandemic. 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.
© 2023 Veradigm Inc. and/or its affiliates. All rights reserved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005248/en/
Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@veradigm.com
Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
Source: Veradigm Inc.
CHICAGO–(BUSINESS WIRE)–Jan. 10, 2023–
Veradigm Inc. (NASDAQ: MDRX) reports today strong fourth quarter new business results across all markets including the payer, life science, and provider markets.
The Veradigm Payer business added 6 net-new regional and national payer clients in Q4, representing +26% new business growth for the full year, along with expanding business among current clients, worth millions of dollars in total annual contract value. As healthcare evolves toward interoperability, Veradigm’s interoperability focused solutions are leading this effort among payers.
In the Veradigm Provider market, the company added 30 new revenue cycle management clients in the fourth quarter, contributing to over 200 percent year-over-year client growth. Additionally, the company’s clinical solutions continued to experience growth in the fourth quarter, adding a total of 484 new practices, across all solutions including many multi-specialty practices.
Veradigm Life Science continues to expand the utilization of its significant de-identified patient dataset with top tier life science companies, and commercial partners. During the fourth quarter more than 20 data, research study, and media agreements were signed. This momentum is partially being driven via the Veradigm Network and its strategic partnership with HealthVerity, a leader in privacy-protected data exchange.
As the Veradigm Network expands, Veradigm continues to integrate offerings to drive improved clinical and financial outcomes for its clients.
“Veradigm is well-positioned for growth because we offer unmatched connectivity, scale, data and expertise that is needed to address the challenges faced by healthcare providers, payers and the life sciences alike,” said Tom Langan, Veradigm President and Chief Commercial Officer.
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube
© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005296/en/
Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@veradigm.com
Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
Source: Veradigm Inc.
This collaboration fuels the expansion of a leading source of real-world clinical behavioral health data
CHICAGO–(BUSINESS WIRE)–Jan. 9, 2023–
Veradigm Inc. (NASDAQ: MDRX), formerly Allscripts Healthcare Solutions, Inc., announced today an investment in Holmusk, a global behavioral health real-world evidence and data analytics company, as part of Holmusk’s $45 million series B financing round. The round was led by Veradigm, with participation from current investors including Heritas Capital, Health Catalyst Capital, Novartis (dRx Capital), and Northwell Holdings, the venture investment arm of Northwell Health, as well as other previous investors.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230109005849/en/
Holmusk will leverage this investment to continue its rapid expansion of its flagship offering, the NeuroBlu Database—a leading source of real-world clinical data for the behavioral health industry.
Now that the financing has been completed, Veradigm and Holmusk intend to enter into a data partnership to bring cohorts of behavioral health and related de-identified patient data from Veradigm to the NeuroBlu Database, significantly adding to Holmusk’s real-world clinical data asset.
“Mental and behavioral health is a serious global health problem that has only increased during and post the COVID-19 pandemic,” said Rick Poulton, Veradigm Chief Executive Officer. “Holmusk has proven expertise to create the evidence needed to improve mental health. We are proud to equip the company with the resources needed to advance this important work.”
“This investment will enable our team to continue its work in curating and enhancing data as we plan to build the world’s largest platform for behavioral health data,” said Nawal Roy, Holmusk Founder and CEO. “We remain laser-focused on this mission because we know that quality data leads to improved evidence, which leads to better health outcomes.”
“We feel fortunate to form a partnership with Veradigm, a company that shares our vision for the transformative power that data can have in health care,” said Michael Weintraub, Chair of the Holmusk Board. “Working collaboratively will help us to deepen our investment in the behavioral health space and make a broader impact.”
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube.
About Holmusk
Holmusk is on a mission to harness real-world data to transform both research and care for behavioral health. Combining the leading behavioral health database with AI-powered analytics and digital solutions designed to address the most pressing challenges in behavioral health, Holmusk is advancing the frontier of evidence generation and fueling innovation. Holmusk is headquartered in New York and Singapore, with three additional offices around the world. For more information, please visit www.holmusk.com.
© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.
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 the beliefs, intentions or goals of Veradigm and Holmusk. These forward-looking statements are based on current beliefs and expectations, only speak as of the date that they are made, and are subject to significant and inherent 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,” and similar terms. Certain factors that could cause the results described in this release to differ materially from those described in the forward-looking statements include, but are not limited to, the ability of Veradigm and Holmusk to enter into a definitive agreement relating to the data partnership described herein. Veradigm does 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 its business, financial condition, or operating results over time.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005849/en/
Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@veradigm.com
Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com
Kaitlin Jansen
704-995-2384
kaitlin.jansen@holmusk.com
Source: Veradigm Inc.