Leaders in Healthcare IT, Essay Example

Although there is currently a hot debate over who leads the healthcare information technology industry, there are several groups that are constantly in the spotlight and regularly revolutionize the field. Interestingly, these are also the companies that remain at the head of the gross margin in NASDAQ. In particular, Cerner, and MedAssets should be observed carefully over the next few years; we may be able to learn how to improve the industry by studying their successes (Finn, 2011).

Cerner has been particularly helpful in making the average physician’s on the job responsibilities easier. They are well known for their specially developed systems that integrate electronic health records, financial information, and computerized physician order entry. This system has become one of the most popular electronic health record systems and is likely to grow in the future due to its concordance with the government’s idea of what healthcare should be. Cerner has managed to stay ahead in its market because they are able to offer prices that are below market value for their services (Longman, 2009).

MedAssets is a company headquartered in Alpharetta, Georgia that is well known for providing services to hospitals in order to increase their profit margins. This is particularly useful in the healthcare field because many hospitals are non-for-profit and rely on government or volunteer support to ensure they are able to serve the public. If hospitals find ways to increase their profit without cutting corners with their medical work, they will be able to serve more patients more quickly and effectively. They achieve this by providing consulting services and software that allows the hospital to track its profits and losses across many areas. MedAssets has widespread business and their services are used in more than 4,000 hospitals and 100,000 primary and specialty care doctor’s offices across the United States and Canada (MedAssets, 2007).

References

Finn, T. (2011). Top Three Gross Margin Leaders in Healthcare Information Technology (HIT). Healthcare Matters. Retrieved from http://hcmatters.com/2011/10/top-three-gross-margin-leaders-in-healthcare-information-technology-hit/

Longman, P. (2009). Code Red. Washington Monthly. Retrieved from http://www.washingtonmonthly.com/features/2009/0907.longman.html

MedAssets. (2007). MedAssets Acquires XactiMed to Expand Revenue Cycle Management Business. Retrieved from http://ir.medassets.com/releasedetail.cfm?ReleaseID=265934