Related Items

   FREE Health Data Management Site Registration

Sign up today and access the leading source of Health Care I.T. information on the Web.

Your FREE site registration entitles you to:

Free Health Data Management e-newsletter
 
Search more than 12,000 articles
 
Access Web Seminars on a host of I.T. topics
 
White Papers and Industry Research that provide valuable insights on a variety of technologies and implementation issues
 
Podcasts, updates on industry events, and much more!

 
   

Missed Targets for MEDecision


April 24, 2008

Payer software vendor MEDecision Inc. badly missed investors’ performance expectations for the first quarter of 2008. The Wayne, Pa.-based seller of case, disease and utilization management software also has announced new senior management appointments.

MEDecision in the first quarter had a net loss of $2.5 million, or 15 cents per share, but investors expected a 2-cent loss. The company also lost $2.5 million during the first quarter of 2007.

Quarterly revenue rose nearly 10% to $10.8 million; investors were expecting about $12.1 million. The company’s stock was not trading April 24 on the NASDAQ exchange more than two hours after the opening of trading. The company did not immediately give a reason.

MEDecision has named Tim Wallace as interim president and COO, and Andrew Schuyler, M.D., as executive vice president and chief medical officer. The positions had been vacant since last year as the company focused in recent months on rolling out its new Alineo software platform and the Nexalign information exchange to support administrative and clinical transactions between providers and payers.

Wallace has been a member of the company’s board for six years and has senior management experience at FullTilt Solutions, Xerox Corp., The Waldec Group and Arthur Andersen and Co. He is serving on a temporary basis to assist CEO David St. Clair as the company moves from development of the new products to execution. The company continues to search for a permanent president and COO.

Schuyler, who practiced family medicine, most recently served as executive medical director at Horizon Blue Cross Blue Shield of New Jersey. He also has served at the former U.S. Healthcare and Aetna Inc.

More information is available at medecision.com.

Business Intelligence Archive
Disease Management Archive
Vendor News Archive
Payers Archive

Marketplace