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Top HIS Vendors By Revenue

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Ever wonder how your hospital information system vendor ranks compared with the competition in terms of 2010 annual revenue? With so many "I.T." vendors selling multiple products to hospitals such as supplies, monitors, consulting and outsourcing, "Top Vendor" lists have become very confusing lately.

To set matters straight, Health Data Management asked industry experts at HIS Professionals LLC, to devote their decades of HIS experience to the issue, and come up with a list of Top HIS Vendors. Using a cut-off of $60 million, the list comprises companies whose revenue is comprised primarily of sales of hospital information systems, each word defined as:

* Hospital-their target market is primarily hospitals, not physician practices, managed care organizations, long-term care facilities or other health care markets. Granted, many vendors sell to multiple markets, but we required the majority of their revenue to come from hospitals, which eliminates vendors that sell solely to physician practices.

* Information-the full suite of applications needed to automate all major departments in a hospital: financial (access, HIM, and revenue cycle), and clinical (EHR, nursing, and major ancillary departments). Thus, specialty vendors like Sunquest for laboratory, Kronos for time and attendance, and Lawson for enterprise resource planning are not included.

* Systems-the complete package of hardware, software and implementation needed to convert a hospital, and the ongoing software maintenance and support needed to keep it running. This excludes vendors whose billions in annual revenue are quite impressive, but offer hardware and consulting only, not software.

To obtain 2010 revenue figures, HIS Pros scoured government and financial Web sites, published earnings reports and contacted vendors directly to come up with the following table showing leading HIT vendors' 2010 revenue. In some cases, estimates had to be made for companies that are privately held and don't publish such figures (HMS and Keane), or are parts of large conglomerates whose revenue includes many non-health care sectors (Siemens and GE). These estimates were based primarily on past years when HIS revenue was reported and adjusted for market share growth or decline since.

In addition to the revenue chart, HIS Pros is providing commentary about each vendor, highlighting product offerings, significant changes, and explaining how estimates were made.

For the full listing of top HIS vendors and commentary, click here.

 

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Looking to build better care coordination, health systems are buying physician groups in droves. Making the deal work, however, requires careful management on the I.T. front.

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