EHR to Bridge the Two Parallel Worlds
These days I am spending some time on Process Improvements at Life Sciences and Pharma Companies. While doing so I noticed how much the Healthcare reform is going to help Life Sciences industry, indirectly.
These days I am spending some time on Process Improvements at Life Sciences and Pharma Companies. While doing so I noticed how much the Healthcare reform is going to help Life Sciences industry, indirectly.
The EMR war is going on and will intensify in the coming years. Vendors are becoming more and more aggressive and innovative to gain and keep their market share in the rapidly growing EHR market. This competition will ultimately benefit EMR users with better products in the long run. But in the short term it will eventually make the buying decisions harder.
Quality Systems, the company behind NextGen product, just announced a 13% jump in profit and 22% increase in revenue.
Clinical Document Architecture (CDA) is an XML-based standard used for clinical document exchange within Health Level Seven framework.
Here is an sample CDA level three:
I was surprised to see the average cost of a data breach exceeded $210 per compromised record, creating an opportunity for computer crime rings to traffic in stolen medical records, according to a study sponsored by LogLogic.
Cerner just announced a partnership with CDW Healthcare to beginning Nov. 1 offer "one-stop" purchase of it’s ambulatory e-health record systems, along with hardware, technical assistance, and deployment services to small and mid-sized doctor offices. This is the first time Kansas City, Mo.-based Cerner has agreed to offer its complete suite of ambulatory solutions through a national channel partner, according to InformationWeek.
Both HIPAA and 21 CFR Part 11 are concern with safeguarding Data. While 21CFR11 applies to Life Sciences Organizations (LSO), HIPAA applies to Healthcare Providers (HCP) and other "covered entities", such as insurance companies.
According to Wells analyst AllScripts (MDRX) has a growth potential of 30% yr/yr over the next 5 years. That would translate to a stock valuation of $25-26 per share.