Tidewater Physicians Multispecialty Group Chooses NextGen(R) As Clinical and Financial Technology Platform
NextGen Healthcare, a wholly owned subsidiary of Quality Systems, Inc. (NASDAQ: QSII) and a leading provider of ambulatory healthcare and connectivity solutions announced today that Tidewater Physicians Multispecialty Group (TPMG) has purchased software licenses for the integrated NextGen electronic medical records (EMR) and enterprise practice management (EPM) system.
Based in Newport News, Virginia, Tidewater Physicians Multispecialty Group is a physician-owned organization comprised of 66 providers across 23 locations. With the fully integrated NextGen EMR and NextGen EPM system, TPMG will be able to improve patient care by sharing clinical data between locations and improve financial performance by automating many manual back-office tasks.
“Our main criteria in evaluating vendors were to look at systems that could help us achieve clinical data sharing between practices. That was a main goal of the project in order to streamline and improve the care of our patients,” said Dr. Kent Willyard, who headed the system selection committee for TPMG. “Of all the systems we considered, NextGen was the best choice in terms of interoperability, data sharing capabilities, and flexibility to match TPMG’s current and future needs.”
About NextGen Healthcare
NextGen Healthcare Information Systems, Inc. a wholly owned subsidiary of Quality Systems, Inc. (NASDAQ: QSII), develops and markets computer-based practice management and electronic medical records systems for medical group practices. 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.
