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February 16, 2017 12:00 AM

Allscripts sees double-digit revenue growth in fourth quarter

Rachel Z. Arndt
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    Allscripts is in the best position it's ever been in, CEO Paul Black said in an earnings call Thursday.

    “Nobody other than Allscripts has posted such a report card,” added company President Rick Poulton. Many analysts offered their congratulations during the call.

    The Chicago-based EHR software provider saw double-digit growth in bookings, revenue and earnings in the fourth quarter of 2016, with particularly strong showings in international markets. Fourth-quarter GAAP revenue was $425 million, up 23% over the prior-year quarter.

    Some of that growth is thanks to Netsmart, a behavioral health IT company that Allscripts acquired in April of 2016. The company also acquired Australia-based Core Medical Solutions, Boston-Based Careport and Missouri-based HealthMEDX last year.

    The biggest chunk of revenue in the fourth quarter came from software delivery, support and maintenance, which hit $280.7 million, up 23% from 227.6 million in the year-before quarter.

    Allscripts saw strong demand for value-based care solutions in the fourth quarter, including for its population-health management systems dbMotion and CareInMotion. “Our strategy is to help clients prepare for the inevitable decline of fee-for-service,” Black said.

    Overall in 2016, the company's revenue was up 12% over 2015, to $1.55 billion. The company expects growth to continue next year, with revenue hitting between $1.71 billion and $1.74 billion.

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        • - Hospital of the Future (Fall)
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