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NextGen Healthcare Applauds Government Push for Health IT

^{Published on 2009-02-14 07:18:56, Last Modified on 2009-02-14 07:20:31 - Market Wire}
 

HORSHAM, Pa.--([ BUSINESS WIRE ])--NextGen Healthcare Information Systems, Inc., a wholly owned subsidiary of Quality Systems, Inc. (NASDAQ: QSII) and a leading provider of healthcare information systems and connectivity solutions for physicians and medical groups, today announced its enthusiastic support for the economic stimulus bill that - among other initiatives - allocates a minimum of $19 billion in funding to accelerate the adoption of health care information technology.

"We applaud the foresight and commitment of our nation's leaders," says Patrick Cline, president of NextGen Healthcare. "Increased adoption of information technology will help address many of the problems plaguing the healthcare industry, and we look forward to playing a role in this new effort aimed at reducing healthcare costs and enhancing patient care."

The Economic Reinvestment and Recovery Act earmarks $2-3 billion for construction of HIT infrastructure and about $17 billion in Medicare/Medicaid incentives payable to physicians and hospitals that can demonstrate "meaningful" use of certifiedHIT, particularly electronic health records (EHR). Practices and organizations that do so by 2011 are eligible to receive a $15,000 bonus from the government, with decreasing amounts available during the ensuing three years. To provide more information on this new legislation, NextGen Healthcare has unveiled an Internet-based resource - [ www.nextgen.com/stimulus ] - designed to help providers understand the impact of the legislation on their organization and begin to formulate next steps.

Long recognized as a leader in HIT and standards development through its work with organizations such as the Certification Commission for Health Information Technology (CCHIT), NextGen Healthcare offers EHR systems that are positioned to meet all standards that the government will be endorsing as part of this new law.

Featuring specialty specific content and powerful disease management capabilities, NextGen Healthcare also provides organizations with a health outcomes data solution needed to meet the government's proposed stimulus incentive (pay-for-performance) requirements. In addition to working with private medical practices, NextGen Healthcare exhibits a breadth of experience with Federally Qualified Health Centers (FQHC's) Community Health Clinics (CHC's) and Indian Health organizations.

Finally, NextGen Healthcare offers a leading health information exchange technology (NextGen Community Health Solution or "NextGen CHS") designed to provide interoperability between disparate medical practices, hospitals and other stakeholders within a community.

"Because we have been at the forefront of HIT development for many years, we will not need to invest time getting up-to-speed," noted Cline. "We are prepared, and are ready to help healthcare organizations make a smooth transition from paper to electronic processes."

About NextGen Healthcare

NextGen Healthcare Information Systems, Inc. a wholly owned subsidiary of Quality Systems, Inc. (NASDAQ: QSII), provides integrated electronic health record and practice management systems, connectivity solutions, and billing services for hospitals and ambulatory practices of all sizes and specialties. For more information about NextGen, please visit [ www.nextgen.com ] and [ www.qsii.com ].

This news release may contain forward-looking statements within the meaning of the federal securities laws. Statements regarding future events, developments, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future (including, without limitation, statements concerning revenue and net income), are forward-looking statements within the meaning of these laws and involve a number of risks and uncertainties. Management believes that these forward-looking statements are reasonable and are based on reasonable assumptions and forecasts, however, undue reliance should not be placed on such statements that speak only as of the date hereof. Moreover, these forward-looking statements are subject to a number of risks and uncertainties, some of which are outlined below. As a result, actual results may vary materially from those anticipated by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: volume and timing of systems sales and installations; length of sales cycles and installation process; the possibility that the products will not achieve market acceptance; seasonal patterns of sales and customer buying behavior; the development by competitors of new or superior technologies; the timing, cost and success or failure of new product and service introductions, development and product upgrade releases; undetected errors or bugs in software; product liability; changing economic, political or regulatory influences in the health-care industry; changes in product-pricing policies; availability of third-party products and components; competitive pressures including product offerings, pricing and promotional activities; the Company's ability or inability to attract and retain qualified personnel; possible regulation of the Company's software by the U.S. Food and Drug Administration; uncertainties concerning threatened, pending and new litigation against the Company including related professional services fees; uncertainties concerning the amount and timing of professional fees incurred by the Company generally; changes of accounting estimates and assumptions used to prepare the prior periods' financial statements; general economic conditions; and the risk factors detailed from time to time in Quality Systems' periodic reports and registration statements filed with the Securities and Exchange Commission. A significant portion of the Company's quarterly sales of software product licenses and computer hardware is concluded in the last month of the fiscal quarter, generally with a concentration of such revenues earned in the final ten business days of that month. Due to these and other factors, the Company's revenues and operating results are very difficult to forecast. A major portion of the Company's costs and expenses, such as personnel and facilities, are of a fixed nature and, accordingly, a shortfall or decline in quarterly and/or annual revenues typically results in lower profitability or losses. As a result, comparison of the Company's period-to-period financial performance is not necessarily meaningful and should not be relied upon as an indicator of future performance. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.