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January 2004
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PEOPLE: DAOU; NDCHEALTH
Daou Systems (Exton, PA) named John Roberts chief financial officer; he had been serving as interim CFO since June 2003
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IN BRIEF: CARESCIENCE; HEALTHVISION; BCBS ASSN.
CareScience (Englewood, CO), a unit of Quovadx, said it will provide care management software to CHI’s St. Joseph Medical Center (Towson, MD) and HMA’s Yakima Regional Medical and Heart Center (Yakima, WA).
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NDCHEALTH LOWERS INTEREST COST OF CREDIT FACILITY
NDCHealth Corp. (Atlanta) renegotiated its $225 million credit facility with its banks, lowering interest expenses by $625,000 per quarter (partially offset by amortization of refinancing costs of $100,000 per quarter).
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ALLSCRIPTS EXPECTS PROFITABLE 2004
Allscripts Healthcare Solutions (Libertyville, IL) said it expects 2004 earnings per share of $0.07 to $0.09 ($2.7 million to $3.5 million based on 38.6 million diluted shares).
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DRUGSTORE.COM REPORTS 4Q03 LOSS OF $2.44 MILLION
Drugstore.com (Bellevue, WA) reported a fourth-quarter 2003 net loss of $2.44 million on revenues of $70.583 million, compared to a net loss of $5.917 million in the same period a year earlier.
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REGENCE TAPS TRIZETTO FOR MEMBER ADMINISTRATION
Regence Group (Portland, OR) has signed a seven-year agreement to use The Trizetto Group (Newport Beach, CA) for administrative software on an ASP basis across its four-state region, which serves 3 million members.
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BCBS-MS TO OFFER MD ON-LINE ONLINE CLAIMS SUBMISSION
Blue Cross Blue Shield of Mississippi (Jackson, MS), which already accepts electronic claims via electronic data interchange services, will offer providers the ability to submit online claims over the Internet through an agreement with MD On-Line (Parsippany, NJ).
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HORIZON BCBS IN E-PRESCRIBING EFFORT
Horizon Blue Cross Blue Shield of New Jersey (Newark, NJ) will this spring begin offering certain network physicians the ability to transmit prescriptions electronically to retail and mail pharmacies using hand-held PDAs.
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TRIZETTO ENDS 2003 ON DOWN NOTE
Trizetto Group (Newport Beach, CA) was forced to lower its earnings forecasts for 2003 based on its inability to close as originally expected on certain software contracts in the fourth quarter.
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WELLPOINT TECHNOLOGY INVESTMENT IS A SMART ONE
WellPoint Health Networks (Thousand Oaks, CA) is right on target with its recently announced initiative to provide 19,000 physicians with wireless PDAs, personal computers, and software to facilitate e-prescribing and electronic claims submission.
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BCBS-MA, EDS EXPAND OUTSOURCING PACT
Blue Cross Blue Shield of Massachusetts (Boston) has expanded its outsourcing agreement with EDS (Plano, TX), signing a 10-year contract worth $320 million.
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DENOVIS RAISES ANOTHER $22 MILLION
DeNovis (Lexington, MA) announced that it has raised an additional $22 million in venture funds in a third round of financing, bringing total venture funding since the company’s inception in 2000 to more than $100 million.
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WELLPOINT TO HELP DOCS GO ONLINE
WellPoint Health Networks (Thousand Oaks, CA) will provide nearly 19,000 physicians with wireless PDAs, personal computers, and software to facilitate e-prescribing and electronic claims submission.
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WEBMD TO PURCHASE PHYSICIANS ONLINE
WebMD (Elmwood Park, NJ) has agreed to purchase Andrx Corp’s Physicians Online web site, which provides doctors with medical information and communications capabilities, for $2 million in cash.
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January 2004; Volume 5, Number 1
WebMD to buy Phys. Online...WellPoint to help docs go online...DeNovis raises $22 million more...BCBS-MA, EDS expand pact...WellPointfs big investment...Ron Ponder to keynote forum...Horizon BCBS in e-script effort...BCBS-MS taps MD On-Line...Regence expands Trizetto pact...Trizetto ends f03 on down note...4Q financials: Per-Se; VitalWorks; Quotesmith, NDC...Drugstore.com report 4Q loss...Allscripts expects f04 profit...NDCHealth lowers interest cost...In brief: HealthVision; BCBSA...People: Daou; NDCHealth...eHealth, info services stocks rise...and more...
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