3rd-quarter earnings down for Allscripts, Cerner, Meditech

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Jackie Drees –
Wednesday, November 4th, 2020
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Meditech reported $114.7 million in earnings for the third quarter, down 5.3 percent from $121.2 million during the very same time last year. The companys item income for the quarter came in at $27.4 million, down 29.7 percent from $39 million during the very same time last year. © Copyright ASC COMMUNICATIONS 2020.

In an Oct. 29 news release, Allscripts CEO Paul Black said the “typically seasonally weaker 3rd quarter was impacted by difficulties connected to the ongoing pandemic,” however the companys margin enhancement initiatives helped increase incomes and money flow.

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Meditech reported $114.7 million in income for the 3rd quarter, down 5.3 percent from $121.2 million throughout the very same time in 2015. The companys item earnings for the quarter can be found in at $27.4 million, down 29.7 percent from $39 million during the same time in 2015. Service earnings for the quarter increased 6.6 percent to $87.4 million, up from $82.2 million throughout the same time last year..

Cerner said the income decrease compared to the third quarter of 2019 was mainly the outcome of the COVID-19 pandemic andCerners exit from its revenue cycle outsourcing contract with Adventist in the fourth quarter of 2019.

Allscripts reported $402 million in profits for the third quarter of 2020, down 9.5 percent from $444 million during the very same period in 2015.

Meditech attributed the reduction in product earnings mainly to application hold-ups triggered by the COVID-19 pandemic and stated the uptick in service profits stems from more customers going deal with its software and offering more services..

Allscripts, Cerner and Meditech all reported third-quarter 2020 income dips linked to the pandemic in recent monetary reports. Heres how the 3 EHR suppliers fared:.

Cerner posted $1.37 billion in revenue for the 3rd quarter, down 3 percent from $1.43 billion during the same time in 2015. The businesss net revenues for the quarter increased at $356.7 million, up from $81.9 million throughout the 3rd quarter of 2019.