Cerner Corporation to Integrate CoverMyMeds's ePA Platform with Millennium EHR
Sep 4 15
Cerner Corporation and CoverMyMeds announced an agreement to integrate CoverMyMeds's electronic prior authorization, or ePA, platform within Cerner's Millennium EHR. The advanced functionality will provide more than 350,000 e-prescribing end users the ability to accelerate the prescription review process by removing manual processes and help reduce transaction costs. ePA is the process of automating and expediting prior authorization, which is used to determine patient benefit coverage for prescribed medications. The traditional PA process is paper-based and reliant on faxes and phone calls to connect health care professionals. CoverMyMeds will provide Cerner physicians the capability to process requests electronically in seconds and receive notification of a patient's authorization status within minutes. CoverMyMeds' integrated ePA capability will be available to Cerner clients in 2016.
Cerner Announces Strategic Alignment with Glens Falls Hospital to Consolidate EHR Platform
Sep 2 15
Glens Falls Hospital and Cerner have formed a strategic alignment to connect the health system onto one electronic health record (EHR). Cerner will extend its Millennium EHR into the system's ambulatory facilities, enhance clinical processes and health care delivery capabilities and position the health system for future growth and advancement. The enhanced collaboration will help enable the health system to deploy new capabilities to optimize resources and achieve efficiencies and cost savings by implementing one EHR across the organization. The alignment emphasizes a person-centric care model and helps build efficiency, effectiveness and technological advancements into the Glens Falls Hospital system.
Western Connecticut Health Network Selects Cerner to Implement Full Suite of Integrated Health Care Solutions
Sep 1 15
Western Connecticut Health Network announced that it has selected Cerner to provide its electronic health record (EHR) system, which includes a full suite of clinical and financial solutions, and population health management. Western Connecticut Health Network will replace multiple existing software systems from various vendors with
Cerner's Millennium EHR full suite of acute and ambulatory solutions, as well as upgrade Soarian Enterprise Revenue Cycle solutions. This new alignment will provide an integrated EHR across Western Connecticut Health Network's three hospitals, 36 clinical locations and a 400 physician medical group.
Baptist Health South Florida Selects Cerner for Enterprise-Wide Health IT System
Aug 4 15
Cerner was selected by Baptist Health South Florida to implement CernerMillennium® and HealtheIntentSM across all of the system's hospitals, physician offices and outpatient locations. Cerner's electronic health record (EHR) system and comprehensive population health management platform will enhance the organization's existing CernerSoarian® Financials revenue cycle management solutions, providing Baptist Health with an integrated, enterprise-wide health information technology (IT) system. Cerner's interoperability capabilities also enable the system to share health records with outside health organizations regionally and nationally. Cerner will support Baptist Health's rapid expansion across its region, including the Caribbean and Latin America.
Cerner Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 4, 2015; Provides Earnings Guidance for the Third Quarter 2015; Revised Earnings Guidance for the Year 2015
Aug 4 15
Cerner Corporation reported unaudited consolidated earnings results for the second quarter and six months ended July 4, 2015. Second quarter revenue was $1.126 billion, an increase of 32% compared to $851.8 million in the year-ago period. Second quarter revenue was below guidance provided by the company. However, the lower revenue did not have a material impact on profitability, and adjusted earnings were in-line with guidance. On GAAP basis, second quarter 2015 net earnings were $115.0 million and diluted earnings per share were $0.33. Second quarter 2014 GAAP net earnings were $129.0 million and diluted earnings per share were $0.37. Adjusted net earnings were $183.0 million, compared to $138.9 million of adjusted net earnings in the second quarter of 2014. Adjusted diluted earnings per share were $0.52, an increase of 30% compared to $0.40 of adjusted diluted earnings per share in the year-ago quarter. Operating earnings were $171,736,000 compared to $191,633,000 a year ago. Earnings before income taxes were $170,657,000 compared to $194,370,000 a year ago. Cash flows from operating activities (GAAP) were $108,664,000 compared to $248,271,000 a year ago. Capital purchases were $84,870,000 compared to $62,336,000 a year ago.
For the six months, total revenues were $2,122,086,000 compared to $1,636,523,000 a year ago. Operating earnings were $338,648,000 compared to $369,636,000 a year ago. Earnings before income taxes were $337,777,000 compared to $375,363,000 a year ago. Net earnings were $225,972,000 compared to $248,559,000 a year ago. Diluted earnings per share were $0.64 compared to $0.71 a year ago. Adjusted net earnings (non-GAAP) were $340,024,000 compared to $268,011,000 a year ago. Adjusted diluted earnings per share (non-GAAP) were $0.97 compared to $0.76 a year ago. Cash flows from operating activities (GAAP) were $322,911,000 compared to $404,058,000 a year ago. Capital purchases were $167,134,000 compared to $131,997,000 a year ago.
The company currently expects third quarter 2015 revenue between $1.15 billion and $1.2 billion. Third quarter 2015 adjusted diluted earnings per share before share based compensation expense, voluntary separation plan expense and acquisition-related adjustments between $0.54 and $0.55.
Full year 2015 revenue between $4.475 billion and $4.575 billion, as compared to a prior estimated range of $4.65 billion to $4.8 billion. Full year 2015 adjusted diluted earnings per share before share based compensation expense, voluntary separation plan expense and acquisition-related adjustments between $2.09 and $2.15, as compared to a prior estimated range of $2.07 to $2.15. The company expects operating cash flow to increase in coming quarters and free cash flow to improve meaningfully.