Allscripts revenue dips 9% for Q3: 5 things to know

Jackie Drees –
Thursday, October 29th, 2020
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Allscripts reported $402 million in profits for the third quarter of 2020, down 9.5 percent from $444 million during the very same time duration in 2015.

5 things to know about the Chicago-based EHR suppliers monetary performance for the 3rd quarter, which ended Sept. 30:.

1. Allscripts published $187 million in reservations for the 3rd quarter, down 20 percent from $236 million in bookings in the third quarter of 2019.

2. The business reported an agreement revenue backlog of $4.4 billion for the quarter.

3. In an Oct. 29 press release, Allscripts CEO Paul Black said the “usually seasonally weaker third quarter was impacted by challenges related to the ongoing pandemic,” and the companys margin enhancement initiatives assisted increase earnings and cash circulation.

4. Allscripts contracts to sell its CarePort and Epsi organizations will “produce heightened concentrate on our core organization while providing significant capital to reduce take advantage of and return money to shareholders,” Mr. Black said. In October, Allscripts completed the Epsi acquisition with Strata Decision Technology for $365 million and announced the sale of CarePort Health to WellSky for $1.35 billion.

5. The company posted $1.22 billion in revenue for the 9 months ended Sept. 30, below $1.32 billion throughout the exact same time last year.

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Allscripts contracts to offer its CarePort and Epsi companies will “create increased focus on our core service while providing significant capital to lower utilize and return cash to investors,” Mr. Black stated. In October, Allscripts completed the Epsi acquisition with Strata Decision Technology for $365 million and revealed the sale of CarePort Health to WellSky for $1.35 billion.

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