HMS reports revenue increase in Q1
NEW YORK HMS announced Friday its first-quarter revenue increased by over 28%.
For the first quarter of 2009, revenue increased 28.2% to $49.9 million, compared with $38.9 million for the year-ago period. Net income for the quarter was $5.7 million or $0.21 per diluted share, compared with net income of $3.2 million, or $0.12 per diluted share for the year-ago period. Adjusted EBITDA for the quarter increased 54.9% to $14.5 million, versus $9.3 million for the first quarter of 2008.
“HMS’s first quarter represents a strong start to what we expect will be an excellent 2009,” said Bill Lucia, CEO. “We are seeing revenue growth and new business in each of the markets we serve.”
HMS is the leader in coordination of benefits and program integrity services for government healthcare programs. The company’s clients include health and human services programs in more than 40 states, over 90 Medicaid managed care plans, the Centers for Medicare and Medicaid Services, and Veterans Administration facilities.
Allscripts ranked No. 1 in electronic prescription routing for second consecutive year
CHICAGO Allscripts announced Thursday for the second consecutive year that it routed more electronic prescriptions over the Surescripts network than any other e-prescribing or Electronic Health Record solution provider. Allscripts also had more active prescribers connected to the national network in 2008 than any other company.
Allscripts also reported a 203% year-over-year increase in the number of end-users on Allscripts electronic prescribing solutions company-wide, both through its stand-alone e-prescribing solutions and its Electronic Health Records.
“Electronic prescribing saves lives by providing the information critical to delivering high quality, safe and cost-effective care,” said Glen Tullman, CEO of Allscripts. “We see standalone e-prescribing as an ‘on-ramp’ to the full Electronic Health Record, helping thousands of physicians to more easily adopt clinical technology as a first step toward using an EHR and qualifying for new federal incentives under the American Recovery and Reinvestment Act.”
The Act, signed by President Obama in February, empowers the Centers for Medicare and Medicaid Services (CMS) to pay physicians between $44,000 and $64,000 over five years, beginning in Fiscal Year 2011, for deploying and demonstrating “meaningful use” of a certified Electronic Health Record to care for patients. Physicians who do not use an Electronic Health Record after 2014 will be penalized by CMS.
Benefits of electronic prescribing include eliminating illegible handwriting; adding checks and alerts for harmful drug interactions, dosage levels and patient specific factors such as prior adverse reactions; streamlining processes such as refill requests; and improving patient compliance and convenience.
Study results find that Vesicare has lower incidence of specific side effect
CHICAGO Patients with overactive bladder who received the drug Vesicare reported lower incidence of dry mouth than those who received an immediate-release formulation of the generic drug oxybutynin, according to a new study presented at the American Urological Association’s annual meeting in Chicago Tuesday.
“Findings from the VECTOR study are very encouraging,” University of Toronto urology professor Sender Herschorn said in a statement. “The fact that some patients discontinue treatment for OAB because of intolerable side effects counters our best efforts to encourage them to seek treatment which could improve their quality of life.”
The VECTOR study compared the tolerability and efficacy of Vesicare (solifenacin) with oxybutynin IR for the treatment of overactive bladder. The study enrolled 132 adults from various locations in Canada who had symptoms of OAB for three months or longer.
Oxybutynin is the generic name of Johnson & Johnson’s Ditropan, originally approved in the 1970s.
Vesicare is manufactured by Astellas Pharma.