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June 2004
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EHI June 1004; Volume 5, Number 6
Drugstore.com CEO resigns...BCBS-NC ads promote web...BCBS-MA, Tuft push e-scripts...1Q eHealth, IS losses fall...Chart: 1Q eHealth, IS financials...eWebHealth expands Mayo pact...Quest to provide PBM data...Quadramed sell preferred shares...Marchibroda calls for incentives...eHealth, info services stocks rise...and more...
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DRUGSTORE.COM CEO DEPARTS
Drugstore.com (Bellevue, WA) announced that president and chief executive Kal Raman has left the company to pursue other interests.
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BCBS-NC ADS DRIVE MEMBERS TO WEB
Blue Cross Blue Shield of North Carolina (Durham, NC) is airing three 30-second brand-awareness television spots, which urge members to visit the company’s web site rather than call an 800 number for information.
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BCBS-MA, TUFTS SUBSIDIZE E-SCRIPTS
Caritas Christi Health Care System (Boston) has signed a three-year contract to roll out e-prescribing technology from Zix Corp. (Dallas) initially to 960 of its physicians.
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1Q04 eHEALTH LOSS DROPS TO $37 MILLION
Final financial figures show that eHealth and information services companies had a net loss of $37.264 million on revenues of $1.05 billion in the first quarter of 2004, compared to a net loss of $59.123 million on revenues of $911.242 million the same period a year earlier, according to an EHI tally of 23 companies.
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MAYO EXPANDS CONTRACT WITH eWEBHEALTH
eWebHealth (Alpharetta, GA) will provide the Mayo Foundation (Rochester, MN) with technology that allows for remote access to healthcare information about patients.
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QUEST TO OFFER DOCS ACCESS TO EXPRESS SCRIPTS DATA
Quest Diagnostics (Teterboro, NJ) said it would offer physicians online access to pharmacy benefit management information from Express Scripts (St. Louis), including formulary information and medication histories for more than 50 million PBM members.
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QUADRAMED ISSUES $100 MILLION IN PREFERRED SHARES
QuadraMed Corp. (Reston, VA) sold $100 million in convertible preferred stock for $25 per share. The stock pays a $0.34 quarterly dividend (5.5% annually) and is convertible into shares of common stock at $3.40 per share.
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MARCHIBRODA CALLS FOR IT INCENTIVES, DEMO PROJECTS
Janet Marchibroda, executive director of the Foundation for eHealth Initiative (Washington), said in testimony before Congress that the government should provide incentives to the private sector to promote the use of technology standards.
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ECLIPSYS WINS UNIVERSITY OF MI HOSPITALS CONTRACT
University of Michigan Hospitals and Health Centers (Ann Arbor, MI) will install clinical information technology from Eclipsys Corp. (Boca Raton, FL) to help reduce the potential for patient medication errors.
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