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Ladies and gentlemen, thank you for standing by. Welcome to the Eclipsys Corporation Q3 2009 earnings release. At this time all participants are in a listen-only mode. Later we’ll conduct a question-and-answer session and instructions will be given at that time. (Operator Instructions)
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ATLANTA, Nov 05, 2009 (BUSINESS WIRE) --
Eclipsys Corporation(R) (NASDAQ: ECLP), The Outcomes Company(R), today announced results for the quarter ended September 30, 2009.
Revenues for the quarter ended September 30, 2009 were $125.5 million, compared to revenues of $132.4 million for the quarter ended September 30, 2008.
GAAP net income for the third quarter of 2009 was $3.9 million, or $0.07 per diluted common share, compared to GAAP net income of $87.4 million, or $1.58 per share on a diluted basis for the third quarter of 2008. GAAP net income in the third quarter of 2008 included a one-time income tax benefit of $80.0 million associated with the reversal of the company's deferred tax valuation allowance.
Non-GAAP Results
Non-GAAP net income for the third quarter of 2009 was $8.2 million, or $0.14 per diluted common share, compared to third quarter 2008 non-GAAP net income of $16.3 million, or $0.30 per diluted share. A detailed reconciliation of GAAP to non-GAAP results is included in the attached tables.
"Our third-quarter performance was in-line with our expectations," said Philip M. Pead, Eclipsys president and chief executive officer. "I was very pleased with our bookings in the third quarter, particularly the amount of new enterprise business we signed."
The non-GAAP earnings per share guidance range remains $0.55 to $0.60 for 2009, and the company will provide 2010 financial guidance in its fourth quarter earnings release.
Balance Sheet Update
In the quarter, Eclipsys repaid $45 million of debt on its credit facility. These payments were funded through available cash, operating cash flows and $23.6 million in proceeds from the sale of auction rate securities. Eclipsys ended the quarter with $122.1 million of cash and $86.0 million in long-term investments.
Through the third quarter of 2009, Eclipsys has generated $29.9 million in free cash flows, compared to $8.7 million through the third quarter of 2008. The company defines free cash flow as operating cash flows less capitalized software development costs and capital expenditures.
Conference Call
Eclipsys executives will discuss the third-quarter results on a teleconference at 4:30 p.m. Eastern time on November 5. Persons interested in participating in the teleconference should call (800) 288-8968 approximately 15 minutes before the conference call is slated to begin. For listen-only mode, participants can go to www.eclipsys.com prior to the conference call to register and download the necessary audio software.
Replay
About two hours after its completion, an audio replay of the call will be available on www.eclipsys.com for approximately 48 hours.
About Eclipsys
Eclipsys is a leading provider of advanced integrated clinical, revenue cycle and performance management software, clinical content and professional services that help healthcare organizations improve clinical, financial and operational outcomes. For more information, see www.eclipsys.com or email info@eclipsys.com.
Non-GAAP Measures
The company has provided net income and earnings per share financial measures on a non-GAAP basis for the three months ended September 30, 2009 and September 30, 2008, which exclude non-cash stock-based compensation expenses, amortization expense associated with acquisitions, and certain additional items that the company does not consider to be indicative of its underlying business performance, as listed on the attached GAAP to non-GAAP reconciliation tables. Because of the significance of the GAAP components excluded, these non-GAAP financial measures should not be considered a substitute for, or superior to, any measure derived in accordance with GAAP. These non-GAAP financial measures may also be inconsistent with the manner in which similar measures are derived or used by other companies. Management believes that the non-GAAP financial measures provided, when considered in conjunction with comparable GAAP financial measures, facilitate the understanding and evaluation of the company's operating performance and future prospects, as well as comparisons of the company's results with its prior period results that did not include these gains and/or charges, and with results of other companies on a more consistent basis. Internally, management uses non-GAAP net income and earnings for forecasting and to help make management decisions, as an indicator of business performance, and to evaluate management's effectiveness and help determine bonuses for management and others.
The economic substance of omitting non-cash stock-based compensation expense in presenting non-GAAP earnings derives from providing investors with consistent measures of performance both before and after including non-cash stock-based compensation charges. The economic substance of omitting the other items incurred that the company does not consider to be indicative of its underlying business performance derives from the fact that such episodic gains and/or charges make it more difficult to compare operating results of different periods, not all of which include such gains and/or charges. However, the omission of non-cash stock-based compensation expense may mask an economic cost incurred by the company in connection with stock-based compensation, and the omission of the charges related to the company's other non-GAAP adjustments may mask actual and expected future costs associated with such matters. Management compensates for these limitations by using both the GAAP and non-GAAP measures.
The company has provided reconciling tables attached to this release.
Caution Regarding Forward-Looking Statements
Certain statements in this news release or the investor call referenced herein, including those concerning the company's operational initiatives, future performance expectations, and effects of economic conditions are forward-looking statements and actual results may differ materially from those projected or implied by the forward-looking statements due to a variety of risks and uncertainties. Future performance expectations are predicated upon achievement of various sales and performance targets that may be difficult to meet. Economic conditions are unstable and may cause hospitals and other healthcare providers to curtail HIT system spending. Eclipsys' cost reduction and other initiatives in response to the challenging economic environment, including initiatives designed to improve operational efficiencies, may not be effective, and it is difficult to predict what the company may be able to achieve. Eclipsys sales may fall below expectations due to market conditions, competition, and other factors, including client demands for pricing and financing concessions. Costs may be greater than anticipated due to the potential need to increase spending to ensure performance in accordance with commitments to clients, regulatory requirements, and other factors. Software development may take longer and cost more than expected, and incorporation of anticipated features and functionality (including as required to comply with ARRA and related regulations, as well as other certification standards) may be delayed, due to various factors including programming and integration challenges and resource constraints. The market is highly competitive. Implementation and customization of Eclipsys software is complex and time-consuming. Results depend upon a variety of factors and can vary by client. Each client's circumstances are unique and may include unforeseen issues that make it more difficult than anticipated to implement or derive benefit from software, implementation or consulting services. The success and timeliness of the company's services will depend at least in part upon client involvement, which can be difficult to control. Eclipsys is required to meet specified performance standards and regulatory requirements, and clients can terminate contracts, assess penalties or reduce contract scope under certain circumstances. More information about company risks is available in recent Form 10-K and other filings made by Eclipsys from time to time with the Securities and Exchange Commission. Special attention is directed to the portions of those documents entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations."
Eclipsys Corporation
GAAP Income Statements (Unaudited)
(in thousands, except per share amounts)
Three Months Ended Three Months Ended $ Change % Change Year-to-date Year-to-date $ Change % Change
September 30, 2009 September 30, 2008 September 30, 2009 September 30, 2008
Revenues:
Systems and services $ 123,471 $ 127,575 $ (4,104 ) -3.2 % $ 379,283 $ 373,021 $ 6,262 1.7 %
Hardware 2,015 4,849 (2,834 ) -58.4 % 6,217 15,925 (9,708 ) -61.0 %
Total revenues 125,486 132,424 (6,938 ) -5.2 % 385,500 388,946 (3,446 ) -0.9 %
Cost and expenses:
Costs of systems and services 66,455 73,166 (6,711 ) -9.2 % 201,644 210,042 (8,398 ) -4.0 %
Costs of hardware 1,672 5,457 (3,785 ) -69.4 % 5,278 13,408 (8,130 ) -60.6 %
Sales and marketing 20,876 19,498 1,378 7.1 % 71,020 63,150 7,870 12.5 %
Research and development 13,204 14,195 (991 ) -7.0 % 40,568 47,102 (6,534 ) -13.9 %
General and administrative 10,772 8,202 2,570 31.3 % 35,223 26,877 8,346 31.1 %
Depreciation and amortization 7,980 5,145 2,835 55.1 % 24,132 15,651 8,481 54.2 %
Restructuring - - - 5,434 - 5,434 * N/M
In-process research and development charge - - - 850 (850 ) -100.0 %
Total costs and expenses 120,959 125,663 (4,704 ) -3.7 % 383,299 377,080 6,219 1.6 %
Income (loss) from operations 4,527 6,761 (2,234 ) -33.0 % 2,201 11,866 (9,665 ) -81.5 %
Gain (loss) on sale of assets 809 685 124 18.1 % 2,046 4,200 (2,154 ) -51.3 %
Gain (loss) on ARS (871 ) - (871 ) * N/M (338 ) - (338 ) * N/M
Interest expense (716 ) (499 ) (217 ) 43.5 % (2,821 ) (1,219 ) (1,602 ) 131.4 %
Interest income 316 1,133 (817 ) -72.1 % 1,844 4,800 (2,956 ) -61.6 %
Income (loss) before income taxes 4,065 8,080 (4,015 ) -49.7 % 2,932 19,647 (16,715 ) -85.1 %
Provision for income taxes 185 (79,316 ) 79,501 * N/M 4,019 (76,549 ) 80,568 * N/M
Net income (loss) $ 3,880 $ 87,396 $ (83,516 ) -95.6 % $ (1,087 ) $ 96,196 $ (97,283 ) -101.1 %
Basic EPS:
Net income (loss) $ 3,880 $ 87,396 $ (83,516 ) -95.6 % $ (1,087 ) $ 96,196 $ (97,283 ) -101.1 %
Less: Income allocated to participating securities 34 971 (937 ) -96.5 % - 1,133 (1,133 ) -100.0 %
Net income (loss) available to common shareholders $ 3,846 $ 86,425 $ (82,579 ) -95.5 % $ (1,087 ) $ 95,063 $ (96,150 ) -101.1 %
Basic weighted average common shares outstanding 56,036 53,861 2,175 4.0 % 55,739 53,684 2,055 3.8 %
Basic net income (loss) per common share $ 0.07 $ 1.60 $ (1.53 ) -95.6 % $ (0.02 ) $ 1.77 $ (1.79 ) -101.1 %
Diluted EPS:
Net income (loss) 3,880 87,396 (83,516 ) -95.6 % (1,087 ) 96,196 (97,283 ) -101.1 %
Less: Income allocated to participating securities 34 956 (922 ) -96.5 % - 1,115 (1,115 ) -100.0 %
Net income (loss) available to common shareholders $ 3,846 $ 86,440 $ (82,594 ) -95.6 % $ (1,087 ) $ 95,081 $ (96,168 ) -101.1 %
Basic weighted average common shares outstanding 56,036 53,861 2,175 4.0 % 55,739 53,684 2,055 3.8 %
Dilutive effect of potential common shares 946 855 91 10.6 % - 875 (875 ) -100.0 %
Diluted weighted average shares common outstanding 56,982 54,716 2,266 4.1 % 55,739 54,559 1,180 2.2 %
Diluted earnings (loss) per common share $ 0.07 $ 1.58 $ (1.51 ) -95.7 % $ (0.02 ) $ 1.74 $ (1.76 ) -101.1 %
* N/M - not meaningful
ECLIPSYS CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets
(in thousands, except share and per share amounts)
September 30, December 31,
2009 2008
(Unaudited)
Assets
Current assets:
Cash $ 122,106 $ 108,304
Marketable securities - 154
Accounts receivable, net of allowance for doubtful accounts of 106,010 121,811
$3,244
and $4,912, respectively
Prepaid expenses 25,490 23,975
Deferred tax asset 259 2,643
Other current assets 4,629 5,712
Total current assets 258,494 262,599
Long-term investments 85,964 107,215
Property and equipment, net 57,919 53,996
Capitalized software development costs, net 48,923 37,718
Acquired technology, net 32,060 39,710
Intangible assets, net 8,122 10,258
Goodwill 98,394 96,973
Deferred tax asset 88,272 89,063
Other assets 14,059 11,343
Total assets $ 692,207 $ 708,875
Liabilities and Stockholders' Equity
Current liabilities:
Deferred revenue $ 120,049 $ 123,733
Accounts payable 11,191 20,924
Accrued compensation costs 33,302 16,457
Deferred tax liability 3,318 -
Other current liabilities 18,846 22,481
Total current liabilities 186,706 183,595
Deferred revenue 6,012 5,743
Long term debt and capital lease obligations 60,842 105,000
Other long-term liabilities 15,783 16,540
Total liabilities 269,343 310,878
Stockholders' equity:
Common stock, $0.01 par value, 200,000,000 shares authorized; 567 561
issued
and outstanding, 56,706,804 and 56,126,674, respectively
Additional paid-in capital 591,345 569,717
Accumulated deficit (165,799 ) (164,712 )
Accumulated other comprehensive income (3,249 ) (7,569 )
Total stockholders' equity 422,864 397,997
Total liabilities and stockholders' equity $ 692,207 $ 708,875
ECLIPSYS CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
For the Nine Months Ended For the Three Months Ended
September 30, September 30,
2009 2008 2009 2008
Operating activities:
Net income $ (1,087 ) $ 96,196 $ 3,880 $ 87,396
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 37,014 29,818 12,181 9,267
Provision for bad debt 2,446 2,655 450 1,255
In-process research and development charge - 850 - -
Deferred income taxes 3,777 (78,184 ) 103 (78,551 )
Gain on sale of marketable securities (30 )
Stock compensation expense 14,768 13,093 3,599 5,627
Gain on sale of assets (2,046 ) (4,168 ) (809 ) (683 )
Foreign Currency (gain) /loss 924 (317 ) 413 (125 )
Interest Income Received, net - 588 - 64
Changes in operating assets and liabilities, excluding the
effect
of acquisitions and dispositions:
Accounts receivable 7,066 (21,611 ) 5,118 (2,803 )
Prepaid expenses and other current assets 1,420 755 (160 ) 4,823
Inventory - - - 18
Other assets 59 (289 ) 556 (1,336 )
Deferred revenue (1,217 ) (3,378 ) 2,414 5,127
Accrued compensation 16,964 (5,029 ) 8,331 1,678
Accounts payable and other current liabilities (12,375 ) 5,936 (5,487 ) 2,038
Long-term liabilities 1,739 3,971 174 1,033
Other reconciling items 745 692 1,681 162
Total adjustments 71,284 (54,648 ) 28,564 (52,406 )
Net cash provided by operating activities 70,197 41,548 32,444 34,990
Investing activities:
Purchases of property and equipment (17,556 ) (20,432 ) (5,002 ) (7,117 )
Purchase of marketable securities (102,000 )
Proceeds from sales of marketable securities 24,061 151,100 23,911
Proceeds from sale of assets 698
Proceeds from sale of debt and equity securities 2,541
Capitalized software development costs (22,728 ) (12,417 ) (8,076 ) (5,476 )
Restricted Cash 1,963 1,963
Earnout out on disposition 2,079 3,578 838 996
Cash paid for acquisitions, net of cash acquired (2,984 ) (54,593 ) (165 ) (223 )
Net cash used in investing activities (17,128 ) (29,562 ) 11,506 (9,857 )
Financing activities:
Proceeds from stock options exercised 5,587 5,283 2,281 2,844
Proceeds from employee stock purchase plan 666 615 212 240
Cash paid for debt issuance costs (1,430 ) (1,009 )
Repayment of secured financing (45,000 ) (95,000 ) (45,000 ) (50,000 )
Proceeds from secured financing 146,000 51,000
Other (80 ) (21 )
Net cash provided by financing activities (38,827 ) 55,468 (42,528 ) 3,075
Effect of exchange rates on cash and cash equivalents (440 ) (588 ) (241 ) (352 )
Net increase (decrease) in cash and cash equivalents 13,802 66,866 1,181 27,856
Cash and cash equivalents -- beginning of period 108,304 22,510 120,925 61,520
Cash and cash equivalents -- end of period $ 122,106 $ 89,376 $ 122,106 $ 89,376
Eclipsys Corporation
Reconciliation of GAAP (Unaudited) to Non-GAAP Items
(in thousands, except per share amounts)
Three Months Ended Three Months Ended Year-to-date Year-to-date
September 30, 2009 September 30, 2008 September 30, 2009 September 30, 2008
Revenues:
GAAP Revenues $ 125,486 $ 132,424 $ 385,500 $ 388,946
Premise acquisition accounting (1) 594 5,945
Non-GAAP revenues $ 126,080 $ 132,424 $ 391,445 $ 388,946
GAAP Recurring revenues $ 89,425 $ 84,757 $ 267,435 $ 248,963
Premise acquisition accounting (1) 154 882
Non-GAAP Recurring revenues $ 89,579 $ 84,757 $ 268,317 $ 248,963
GAAP Professional services revenues $ 25,468 $ 34,028 $ 84,616 $ 96,042
Premise acquisition accounting (1) 160 1,082
Non-GAAP Professional services revenues $ 25,628 $ 34,028 $ 85,698 $ 96,042
GAAP Periodic revenues $ 8,577 $ 8,809 $ 27,230 $ 28,116
Premise acquisition accounting (1) 261 3,847
Non-GAAP Periodic revenues $ 8,838 $ 8,809 $ 31,077 $ 28,116
GAAP Hardware revenues $ 2,015 $ 4,849 $ 6,217 $ 15,925
Premise acquisition accounting (1) 19 134
Non-GAAP Hardware revenues $ 2,034 $ 4,849 $ 6,351 $ 15,925
Gross Margin
Revenues $ 125,486 $ 132,424 $ 385,500 $ 388,946
Costs of systems and services (66,455 ) (73,166 ) (201,644 ) (210,042 )
Cost of hardware (1,672 ) (5,457 ) (5,278 ) (13,408 )
GAAP Gross margin (A) 57,359 53,801 178,578 165,496
Adjustments
Premise acquisition accounting (1) 486 5,038
Stock-based compensation expense (2) 501 2,433 1,500 5,818
Headquarter relocation (3) 419
Restructuring (4) 585 585
Professional Services Reorganization (5) 1,080 1,080
Non-recurring items (6) 782 782
Non-GAAP gross margin $ 58,931 $ 58,096 $ 185,701 $ 173,595
Operating Expenses
GAAP operating expenses (B) $ 52,832 $ 47,040 $ 176,377 $ 153,630
Adjustments
Stock-based compensation expense (2) (3,098 ) (3,191 ) (13,266 ) (7,273 )
Headquarter relocation (3) (2,521 )
Restructuring (4) (556 ) (9,182 )
Professional Services Reorganization (5) (298 ) (298 )
Derivative litigation (7) (1,353 )
Amortization (8) (3,124 ) (1,121 ) (9,372 ) (2,666 )
EPSI research and development charge (9) (850 )
Valuation allowance reversal (10) (177 ) (177 )
Non-GAAP operating expenses $ 46,054 $ 42,253 $ 144,557 $ 138,492
Eclipsys Corporation
Reconciliation of GAAP (Unaudited) to Non-GAAP Items
(in thousands, except per share amounts)
Three Months Ended Three Months Ended Year-to-date Year-to-date
September 30, 2009 September 30, 2008 September 30, 2009 September 30, 2008
Gross Research and Development Expenses
GAAP research and development $ 13,204 $ 14,195 $ 40,568 $ 47,102
Adjustments
Stock-based compensation expense (2) (565 ) (401 ) (1,564 ) (991 )
Headquarter relocation (3) (159 )
Restructuring (4) (40 ) (40 )
Non-GAAP research and development 12,599 13,794 38,964 45,952
Capitalized software and development costs 8,076 5,281 22,728 12,417
Non-GAAP gross research and development expenses $ 20,675 $ 19,075 $ 61,692 $ 58,369
Operating Income
GAAP operating income $ 4,527 $ 6,761 $ 2,201 $ 11,866
Adjustments
Premise acquisition accounting (1) 486 5,038
Stock-based compensation expense (2) 3,599 5,624 14,766 13,091
Headquarter relocation (3) 2,940
Restructuring (4) 1,141 9,767
Professional Services Reorganization (5) 1,378 1,378
Non-recurring items (6) 782 782
Derivative litigation (7) 1,353
Amortization (8) 3,124 1,121 9,372 2,666
EPSI research and development charge (9) 850
Valuation allowance reversal (10) 177 177
Non-GAAP operating income $ 12,877 $ 15,843 $ 41,144 $ 35,103
Pre-tax income
GAAP pre-tax income $ 4,065 $ 8,080 $ 2,932 $ 19,647
Adjustments
Premise acquisition accounting (1) 486 5,038
Stock-based compensation expense (2) 3,599 5,624 14,766 13,091
Headquarter relocation (3) 2,940
Restructuring (4) 1,141 9,767
Professional Services Reorganization (5) 1,378 1,378
Non-recurring items (6) 782 782
Derivative litigation (7) 1,353
Amortization (8) 3,124 1,121 9,372 2,666
EPSI research and development charge (9) 850
Valuation allowance reversal (10) 177 177
Gain on sale of assets (11) (3,482 )
ARS Sale (12) 1,114 1,114
Non-GAAP pre-tax income $ 13,529 $ 17,162 $ 42,989 $ 39,402
Eclipsys Corporation
Reconciliation of GAAP (Unaudited) to Non-GAAP Items
(in thousands, except per share amounts)
Three Months Ended Three Months Ended Year-to-date Year-to-date
September 30, 2009 September 30, 2008 September 30, 2009 September 30, 2008
Net Income
GAAP net income $ 3,880 $ 87,396 $ (1,087 ) $ 96,196
Adjustments
Premise acquisition accounting (1) 288 3,129
Stock-based compensation expense (2) 2,488 5,624 10,153 13,091
Headquarter relocation (3) 2,940
Restructuring (4) 684 6,066
Professional Services Reorganization (5) 1,378 1,378
Non-recurring items (6) 782 782
Derivative litigation (7) 1,353
Amortization (8) 1,923 1,121 5,821 2,666
EPSI research and development charge (9) 850
Valuation allowance reversal (10) (79,954 ) (79,954 )
Gain on sale of assets (11) (3,227 )
ARS Sale (12) 692 692
State tax provision (13) 1,540
Taxes (14) (1,727 ) 1,925
Non-GAAP net income $ 8,228 $ 16,347 $ 26,699 $ 37,615
Diluted earnings per share
Diluted earnings per share $ 0.07 $ 1.58 $ (0.02 ) $ 1.74
Adjustments
Premise acquisition accounting (1) 0.01 0.05
Stock-based compensation expense (2) 0.04 0.10 0.18 0.24
Headquarter relocation (3) 0.05
Restructuring (4) 0.01 0.11
Professional Services Reorganization (5) 0.02 0.02
Non-recurring items (6) 0.01 0.01
Derivative litigation (7) 0.02
Amortization (8) 0.03 0.02 0.10 0.04
EPSI research and development charge (9) 0.02
Valuation allowance reversal (10) (1.45 ) (1.45 )
Gain on sale of assets (11) (0.06 )
ARS Sale (12) 0.01 0.01
State tax provision (13) 0.03
Taxes (14) (0.03 ) 0.03
Non-GAAP diluted earnings per share $ 0.14 $ 0.30 $ 0.47 $ 0.68
Eclipsys Corporation
Reconciliation NOTES of GAAP (Unaudited) to Non-GAAP Items
1 Deferred revenue adjustments net of deferred costs adjustments
related to the Company's December 2008 acquisition of Premise
Corporation. The amounts represent the reduction of deferred revenue
and related deferred costs acquired from Premise as a result of
purchase accounting adjustments.
2 Represents stock based compensation expense.
3 Amounts incurred to relocate the corporate headquarters from Boca
Raton to Atlanta, including salaries and benefits associated with
the termination of employees not relocating and other administrative
costs associated with the move.
4 Severance related activity primarily in the Company's professional
services organization. Also includes severance costs in the second
quarter of 2009 associated with the departure of the Company's CEO.
5 Severance costs associated with the reorganization of the Company's
professional services organization in the third quarter of 2008.
6 Nonrecurring adjustments from prior years.
7 Charges incurred as a result of the voluntary stock option review
completed in the second quarter 2007 and are related primarily to
legal fees associated with the subsequent derivative litigation.
These costs are net of insurance recoveries in the second quarter
2008.
8 Amortization of intangible assets associated with 2008 acquisitions.
9 Write off of in-process research and development associated with our
acquisition of EPSI.
10 Income tax benefit associated with the reversal of the Company's
deferred tax valuation allowance.
11 Gain resulted from the achievement of certain post-closing
milestones associated with the December 2007 sale of the Clinical
Practice Model Resource Center (CPMRC) business.
12 Realized loss on the sale of one of the Company's auction rate
securities for $23.6 million.
13 Accounting rule issued related to Uncertainty in Income Taxes
clarified the criteria for recognizing income tax benefits. This
charge was recorded as a result of the review of uncertain state tax
positions.
14 Represents a combination of discrete tax items, primarily deferred
tax asset adjustments for Canadian research and development credits
in the second quarter and non-GAAP tax adjustments to reflect the
non-GAAP annual effective tax rate.
Notes
A GAAP gross margin equals revenue less costs of systems and
services and costs of hardware.
B GAAP operating expenses include sales and marketing expense,
research and development expense , general and administrative
expense, depreciation and amortization expense, restructuring
charge, and in process research and development charge.
SOURCE: Eclipsys Corporation
Eclipsys Jason Cigarran, 404-847-5965 Vice President, Investor Relations jason.cigarran@eclipsys.com
Tags: accounting acquisition business canada ceo clinical conference consulting contract debt deficit earnings email eps equity gaap hardware healthcare insurance legal market marketing nasdaq president programming property regulations research and development restructuring revenue salaries sales securities software standards stock option tax taxes technology
Companies: Eclipsys Corp. (ECLP)
ATLANTA, Oct 20, 2009 (BUSINESS WIRE) --
Eclipsys Corporation(R) (NASDAQ: ECLP), The Outcomes Company(R), today announced the winners of its 2009 Circle of Excellence Award program. With technology-related initiatives ranging from earlier identification of septic patients to enhanced cost analysis capabilities, to transformation of paper processes into electronic systems for more patient-centered care, six healthcare organizations successfully documented strategies that maximized the value from the use of Eclipsys' health information technology to enable fast computerized physician order entry (CPOE) adoption, improved care processes and enhanced business performance.
The 2009 winners successfully leveraged Eclipsys solutions to achieve:
-- Earlier identification and treatment of septic patients, a condition associated with a 20 percent to 50 percent mortality rate among patients and the 10th leading cause of death in the United States. Sepsis-related order sets, a nursing documentation tool and an emergency department structured note were created to identify and initiate treatment within hour one;
-- More than doubling a goal to reduce the average time to adjudicate a claim; related process improvements resulted in additional revenues of $450,000 and recouping $3.3 million;
-- Replacement of a legacy decision support solution to accelerate from days to minutes the timeframe for management to receive actionable cost accounting data and 'What If' scenario analysis;
-- Realizing a 95 percent CPOE adoption rate within a community hospital environment in three months and continuing to maintain that adoption rate;
-- Transforming care processes by establishment of evidenced-based interdisciplinary documentation across a large, multi-facility health system; and
-- User advocacy and product development feedback through active participation in Eclipsys Communities(TM), the company's online networking forum to facilitate client knowledge-sharing and collaboration.
The Eclipsys Circle of Excellence Award is presented annually to Eclipsys clients who demonstrate innovation and achievements in one of four categories -- process improvement, adoption, collaboration, or active participation in the Eclipsys ClientConnect(TM) program, which fosters client knowledge-sharing and collaboration. Each winning organization receives a $2,000 grant for its foundation or charity of choice.
"We are pleased to honor these valued clients for their outstanding efforts and innovations that have resulted in improved care delivery and business performance," said Diane Bradley, M.D., Eclipsys' chief quality and outcomes officer. "We believe Eclipsys clients are among the best and brightest healthcare professionals who are focused on using enabling technologies to improve the quality and efficiencies of healthcare, which has taken center stage in national debate. This year's winners exemplify the tremendous amount of collective expertise within our client base in how to capitalize on the inherent sophistication and value designed into Eclipsys applications. Our winners demonstrate why Eclipsys clients are among the higher-performing organizations in the healthcare industry."
The 2009 Eclipsys Circle of Excellence Award winners are:
Orlando Health, Orlando, FL-- Severe sepsis (infection-induced organ failure) is associated with a 20 percent to 50 percent mortality rate among patients and is the 10th leading cause of death in the United States, resulting in an annual economic burden of nearly $17 billion. Orlando Health used Eclipsys' CPOE solution, Sunrise Acute Care(TM), to support earlier identification of septic patients and meet a goal to decrease the relative risk of mortality by 25 percent. Sepsis-related order sets, a nursing documentation tool and an emergency department structured note were created to identify and initiate treatment within hour one. In process is development of a Medical Logic Module to alert clinical staff that patients meet the criteria for sepsis. Orlando Health won an award in the process improvement (quality/patient safety) category.
Orange Regional Medical Center, Goshen, NY -- During the past year, the hospital has used Eclipsys' Sunrise Patient Financials(TM) to employ several process improvements and surpass a goal of reducing the average time to fully adjudicate a claim by 10 percent (nine days)--in fact, a 27 percent reduction was achieved. Since beginning the initiative, denial reduction has produced approximately $450,000 in additional revenues, emergency department upfront co-payment collections have doubled, and better management of carrier underpayments has recouped $3.3 million. Orange Regional Medical Center won an award in the process improvement (revenue cycle) category.
St. Joseph Health System, Orange, CA --The 14-hospital health system replaced its legacy decision support system with Eclipsys' Sunrise EPSi(TM) integrated performance management solution to standardize the costing process across all facilities to enable accurate cross comparisons. Within eight months, nine facilities implemented the decision support solution resulting in significantly more rapid system processing, report production and access to 'What-If' scenario analysis. What before took days to produce is now developed in minutes. St. Joseph Health System won an award in the process improvement (performance management) category.
Presbyterian Intercommunity Hospital (PIH), Whittier, CA--The community hospital set a goal to achieve 100 percent adoption rate with its "big bang" activation of Eclipsys' CPOE solution, Sunrise Acute Care. Strong physician and nursing leadership and a focus toward physician workflows helped to win over affiliated physicians and enabled PIH to take away all paper order forms on day one. The hospital has realized a 95 percent CPOE adoption rate within 3 months and continues to maintain that adoption rate. A 71 percent adoption rate has been sustained among all physicians (representing 400 medical staff members), with an 86 percent adoption rate among in-house physicians. The hospital has built 394 order sets to date. PIH won an award in the adoption category.
North Shore-Long Island Jewish Health System (NSLIJH), Great Neck, NY--Recognized as the third largest secular health system in the United States, NSLIJH fostered extraordinary collaboration on three levels to successfully transform paper processes into electronic systems and enable practice transformation and more patient-centered care. Working closely with its health information technology company partner, Eclipsys, NSLIJH implemented and optimized components of Eclipsys' Sunrise Clinical Manager solution. During the initiative, the health system established enterprise-wide collaboration to validate evidence base content and it achieved multi-disciplinary clinical collaboration to ensure real interdisciplinary workflow and universal knowledge of each patient and their clinical progress. Department handoffs have been improved with physicians, nurses, respiratory therapists, dietitians, social workers, case managers, and physical, occupational and speech language therapists, pastoral care, and child life specialists documenting side by side. NSLIJH won an award in the collaboration category.
The Urology Center, P.C., Omaha, NE--Administrator Laura Forehead of The Urology Center, P.C. was the first client to post on the Eclipsys PeakPractice(TM) ambulatory electronic health record (EHR) communities site when it was launched this past December. Eclipsys Communities is the company's online networking forum to facilitate client knowledge-sharing and collaboration. In addition, Ms. Forehead, or someone from her team, attended every single monthly "advise" session for the PeakPractice solution and arranged attendance and participation of other users. Her Eclipsys ClientConnect(TM) involvement also has supported Eclipsys' product development efforts and communications with clients. The Urology Center, P.C. (Ms. Forehead) won an award in the active participation in the Eclipsys ClientConnect program category.
About Eclipsys
Eclipsys is a leading provider of advanced integrated clinical, revenue cycle and performance management improvement software, clinical content and professional services that help healthcare organizations improve clinical, financial and operational outcomes. For more information, see www.eclipsys.com or email info@eclipsys.com.
Statements in this news release concerning the timing of implementation and features of and benefits provided by Eclipsys software, evidence-based content and implementation services are forward-looking statements and actual results may differ from those projected due to a variety of risks and uncertainties. Implementation and customization of Eclipsys software is complex and time-consuming. Results depend upon a variety of factors and can vary by client. Each client's circumstances are unique and may include unforeseen issues that make it more difficult than anticipated to implement or derive benefit from Eclipsys software or services. The success and timeliness of the company's services will depend at least in part upon client involvement, which can be difficult to control. Eclipsys is required to meet specified performance standards, and the contract can be terminated or its scope reduced under certain circumstances. More information about company risks is available in recent Form 10-Q and 10-K filings made by Eclipsys from time to time with the Securities and Exchange Commission. Special attention is directed to the portions of those documents entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Eclipsys Corporation and The Outcomes Company are registered trademarks of Eclipsys Corporation. Sunrise Acute Care, Sunrise Patient Financials, Sunrise EPSi, Sunrise Clinical Manager, PeakPractice, Eclipsys Communities and Eclipsys ClientConnect are trademarks of Eclipsys Corporation. Other product and company names in this news release are trademarks and/or registered trademarks of their respective companies.
SOURCE: Eclipsys Corporation
Eclipsys Corporation Robin Wrinn, 404-847-5219 Director, Public Relations (media) robin.wrinn@eclipsys.com or Jason Cigarran, 404-847-5965 Vice President of Investor Relations (investors) jason.cigarran@eclipsys.com
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Companies: Eclipsys Corp. (ECLP)
ATLANTA, Oct 26, 2009 (BUSINESS WIRE) --
Eclipsys Corporation(R) (NASDAQ: ECLP), The Outcomes Company(R), today announced that The Brooklyn Hospital Center (Brooklyn, NY) has selected multiple clinical components of the company's Sunrise Enterprise(TM) suite of solutions to maximize stimulus payment opportunities expected from the American Recovery and Reinvestment Act (ARRA). The extensive technology initiative expands The Brooklyn Hospital Center's use of Eclipsys clinical solutions and is designed to create a single electronic health record (EHR) -- from the bedside to the hospital pharmacy, to hospital-owned outpatient clinics. Expected clinical benefits include improved speed and accuracy of carrying out physician orders, improved coordination of care across the care continuum, along with improved system interoperability -- all which supports improved patient outcomes and meeting the expected "meaningful use" definition of ARRA.
Expanded Use of Technology for a Single EHR from Bedside to Outpatient Clinics
The agreement calls for The Brooklyn Hospital Center to enhance and expand its use of Sunrise Acute Care(TM), Eclipsys' computerized physician order entry (CPOE) system, Sunrise Surgery(TM) (powered by Surgical Information Systems), along with implementation of Eclipsys' integrated pharmacy information system, the company's clinical documentation solution, Knowledge-Based Charting(TM) , and Sunrise Radiology(TM), Eclipsys' Web-based radiology management system. These solutions will serve as the clinical technology foundation to transform care delivery processes and support qualifying for ARRA stimulus dollars.
Because ARRA is expected to require healthcare organizations to significantly expand Centers for Medicare and Medicaid Services (CMS) Quality Measures reporting requirements by the years 2013 and 2015, The Brooklyn Hospital Center also has selected Eclipsys' Sunrise Clinical Analytics(TM) business intelligence tool. Part of what is slated to be Eclipsys' ARRA 2011 Certified EHR Technology, Sunrise Clinical Analytics intelligently extracts and transforms data at the right time from Eclipsys' Sunrise Clinical Manager(TM) EHR solution to automate quality reporting. To further meet key ARRA requirements for reporting and interoperability, a National Order Item Catalog (NORIC) platform will be deployed to accelerate the hospital's ability to incorporate evidence-based guidelines from a multitude of publishers and support health information exchange.
In a later phase, Sunrise Patient Portal(TM) will be activated to provide The Brooklyn Hospital Center patients with self-service functionality, such as Internet access to updated health information and to view scheduled doctor appointments. The solution integrates with HealthVault(TM), the Microsoft(R) consumer health platform.
"This initiative continues our commitment to provide quality healthcare services to the Brooklyn community," said Richard Becker, president and chief executive offer, The Brooklyn Hospital Center. "The passage of ARRA is a momentous opportunity to maximize our ability to invest in enabling technologies, which are fundamental to improving costs and care effectiveness. We selected Eclipsys because we have enjoyed a positive working relationship with them, and they are a company unmatched in helping clients achieve deep adoption of technology. We expect Eclipsys to fully support us in satisfying what we expect to be the meaningful use requirements of ARRA."
Professional Services for Accelerated Implementation and Enhanced System Functionality
The Brooklyn Hospital Center has opted to utilize Eclipsys' accelerated "speed to value" implementation approach, along with the Eclipsys Remote Hosting Services(TM) and information technology (IT) outsourcing services in an effort to support an implementation timeline that optimizes ARRA stimulus opportunities. Eclipsys' proven, repeatable implementation method is based on hundreds of successful on-time, on-budget implementations and decades of experience with a broad range of hospital and health systems. The remote hosting solution will offload storage and processing for the new IT infrastructure, while the IT outsourcing services will augment internal hospital IT staff and leverage Eclipsys' deep solution knowledge and proven implementation methodologies.
"The passage of ARRA is unprecedented in enabling providers to build out their technology foundation in support of improved health outcomes and to expedite the removal of inefficiency and costs from the nation's healthcare delivery system," said Jay Deady, Eclipsys executive vice president of Client Solutions. "We are pleased The Brooklyn Hospital Center has shown its continued confidence and satisfaction with Eclipsys in helping it achieve its ARRA and clinical quality goals."
The Eclipsys solutions will be remotely hosted by the ISO 9001:2000-certified Eclipsys Technology Solutions Center in Mountain Lakes, NJ.
About The Brooklyn Hospital Center
Founded as the borough's first voluntary hospital, The Brooklyn Hospital Center (TBHC) has been keeping Brooklyn healthy since 1845. Today, it is a 367-bed teaching hospital, offering primary and specialized medical care, sophisticated diagnostic and therapeutic services, cutting-edge technology, and specialized surgery to nearly 300,000 patients annually. Located in the heart of Brooklyn's downtown revitalization district, TBHC is a member of the New York-Presbyterian Healthcare System and a Brooklyn academic and clinical affiliate of Weill Cornell Medical College. TBHC has fully accredited, independent residency programs in Emergency Medicine, Internal Medicine, General Surgery, Obstetrics and Gynecology, Pediatrics, Family Practice, General Dentistry and Oral and Maxillofacial Surgery, and trains more than 250 physicians each year. For more information, see www.tbh.org.
About Surgical Information Systems
Surgical Information Systems (SIS) provides software solutions that are uniquely designed to add value at every point of the perioperative process. Developed specifically for the complex surgical environment, all SIS solutions -- including anesthesia -- are architected on a single database and integrate easily with other hospital systems. SIS offers the only surgical scheduling system endorsed by the American Hospital Association (AHA), and a rules-based charging system that has been granted Peer Reviewed status by the Healthcare Financial Management Association (HFMA). For more information, see, www.SISFirst.com.
About Eclipsys
Eclipsys is a leading provider of advanced integrated clinical, revenue cycle and performance management software, clinical content and professional services that help healthcare organizations improve clinical, financial and operational outcomes. For more information, see www.eclipsys.com or email info@eclipsys.com.
Statements in this news release concerning the timing of implementation and features and benefits provided by Eclipsys software, evidence-based content and implementation and remote hosting services are forward-looking statements and actual results may differ from those projected due to a variety of risks and uncertainties. Implementation and customization of Eclipsys software is complex and time-consuming. Results depend upon a variety of factors and can vary by client. Each client's circumstances are unique and may include unforeseen issues that make it more difficult than anticipated to implement or derive benefit from Eclipsys software or services. The success and timeliness of the company's services will depend at least in part upon client involvement, which can be difficult to control. Eclipsys is required to meet specified performance standards, and the contract can be terminated or its scope reduced under certain circumstances. More information about company risks is available in recent Form 10-Q and 10-K filings made by Eclipsys from time to time with the Securities and Exchange Commission. Special attention is directed to the portions of those documents entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Eclipsys Corporation and The Outcomes Company are registered trademarks of Eclipsys Corporation. Sunrise Enterprise, Sunrise Acute Care, Sunrise Surgery, Knowledge-Based Charting, Sunrise Radiology, Sunrise Clinical Analytics, Sunrise Clinical Manager, Sunrise Patient Portal and Eclipsys Remote Hosting Services are trademarks of Eclipsys Corporation. Other product and company names in this news release are or may be trademarks and/or registered trademarks of their respective companies.
SOURCE: Eclipsys Corporation
Eclipsys Corporation Media: Robin Wrinn, 404-847-5219 Director, Public Relations robin.wrinn@eclipsys.com or Jason Cigarran, 404-847-5965 Vice President, Investor Relations jason.cigarran@eclipsys.com
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Companies: Eclipsys Corp. (ECLP)
ATLANTA, Oct 15, 2009 (BUSINESS WIRE) --
To support healthcare organizations in making the appropriate technology decisions to maximize federal stimulus dollar opportunity, Eclipsys Corporation(R), (NASDAQ:ECLP), The Outcomes Company(R), today announced the multiple superior outcomes its client organizations are achieving today. With a client base that leads the industry in adoption of computerized physician order entry (CPOE), outperforms peers in composite performance across all Centers for Medicare and Medicaid Services (CMS) Quality Measures and clinical information systems that dominate the Magnet Recognition Program(R) hospitals, Eclipsys offers an industry-differentiating ability to support healthcare providers in meeting the expected "meaningful use" objectives of the American Recovery and Reinvestment Act (ARRA). In addition, the company's analytics technology provides a solid foundation to meet the expected more stringent and outcomes-focused ARRA requirements in 2013 and 2015.
A Client Base Ranked No. 1 in Meeting Composite CMS Quality Measures; Dominates Magnet Hospitals
In conducting a competitive analysis study of CMS Core Measures performance, data identified Eclipsys clients as ranking No. 1 in composite performance across all CMS Quality Measures. The study, which was based on publicly available data from HIMSS Analytics and the U.S. Department of Health and Human Services Hospital Compare site, also identified that Eclipsys clients ranked No. 1 in adherence to surgery CMS criteria, while statistically tying in adherence to heart failure, acute myocardial infarction (AMI) and pneumonia.
According to Jay Deady, Eclipsys executive vice president of Client Solutions, Eclipsys clients' superior quality outcomes are a factor of the advanced clinical decision support and embedded complex algorithms built into the company's CPOE solution, which leverage more than 30 years of experience to transcend fundamental computerized order entry. "Proactive, advanced clinical decision support is going to be a critical success factor in meeting ARRA 'meaningful use' requirements," said Deady. "The fact that our client base today is comprised of higher-performing organizations is a clear demonstration of what sets apart Eclipsys in helping healthcare organizations improve patient health status and outcomes, the fundamental goal behind this government act. With hundreds of healthcare organizations seeking a new clinical information system platform, we expect our proven track record and strong positioning to support us in achieving expanded market share."
Industry CPOE Adoption Leadership
A key provision of ARRA is that healthcare organizations must drive the use of information technology to improve patient health status -- not just demonstrate its existence or specific functionality. According to the KLAS CPOE Digest 2009: Meaningful Use and Physician Adoption report, deep adoption is pivotal to the overarching success of an electronic medical record (EMR) implementation. The same KLAS report concludes that Eclipsys leads the industry in total physicians live on CPOE and percentage of its client base using the system. Eclipsys also continues to have the highest physician satisfaction from clients who use its system, and on average, highly customizable ordering capabilities allow a physician to order faster than any other CPOE solution on the market.
In addition, Eclipsys' clinical information systems dominate the field of Magnet Recognition Program(R) hospitals. Magnet status provides consumers with a benchmark to measure the quality of care they can expect to receive. Eclipsys clients represent 45 percent of all organizations receiving Magnet status, and represent 40 percent of the organizations listed as "America's Best Hospitals," according to the U.S. News & World Report's 2009 ranking.
ARRA Requirement to Use Clinical Data in More Meaningful Ways
Along with the existing rise in pay-for-performance and changes in reimbursements, ARRA is expected to require healthcare organizations to use patient data to drive insight and intelligence about how systems and practice patterns are affecting care quality and outcomes. With the addition of the Sunrise Clinical Analytics(TM) business intelligence solution to what is slated to be Eclipsys' ARRA 2011 Certified EHR (electronic health record) Technology, Eclipsys plans to offer hospitals unparalleled capabilities to meet increasingly complex quality reporting requirements. Sunrise Clinical Analytics intelligently extracts and transforms data at the right time from Eclipsys' Sunrise Clinical Manager(TM) electronic health record solution to automate quality reporting. Ease of access to information is delivered without disruption to clinical workflows. The analytics system is designed to support organizations in effectively tracking and measuring clinical performance and identifying how clinician adoption impacts patient outcomes and clinical costs.
"We believe no other health information technology company can match our proven record of deep clinical adoption, our system agility to respond to changing environments and requirements and an unparalleled integrated clinical analytics solution," added Deady. "Providers seeking to prepare for the implications of this momentous legislation should have confidence in selecting Eclipsys as their clinical technology partner."
Eclipsys' CPOE high adoption rates and speed are a factor of its embedded complex algorithms that leverage more than 30 years of experience to transcend fundamental order entry and offer a solution that is able to automatically interpret and recalculate new order protocols in real time based on any updates to the patient condition. The intuitive, easy-to-adopt solution offers highly complex clinical decision support capabilities that provide workflows tailored to how physician's practice medicine and support fully automating even the most complex order sets and medication ordering, including the exacting protocols, long-range medication schedules and complicated treatment plans commonplace in oncology and pediatric care environments.
About the Magnet Recognition Program
The Magnet Recognition Program(R) was developed by the American Nurses Credentialing Center (ANNC) to recognize healthcare organizations that provide nursing excellence. The program also provides a vehicle for disseminating successful nursing practices and strategies. Recognizing quality patient care, nursing excellence and innovations in professional nursing practice, the Magnet Recognition Program provides consumers with the ultimate benchmark to measure the quality of care that they can expect to receive. For more information, go to www.nursingcredentialing.com.
About the Eclipsys Competitive Analysis Study and Hospital Compare Web site
Organizations for each vendor were identified from an HIMSS Analytics query. Hospitals with less than 100 beds were excluded from the analysis since recent reports suggest that organizations with a small bed base can score well mainly based on the lower volume of cases. The Hospital Compare Web site was used to cross-reference hospital CMS criteria performance. The Hospital Compare Web site was created through the efforts of the Centers for Medicare & Medicaid Services (CMS), the U.S. Department of Health and Human Services, and other members of the Hospital Quality Alliance: Improving Care Through Information (HQA). The information on this website comes from hospitals that have agreed to submit quality information for Hospital Compare to make public. For more information, go to www.hospitalcompare.hhs.gov.
About the KLAS CPOE Digest 2009
The KLAS CPOE Digest 2009 compiled data from healthcare executives, managers and clinicians. The study provided detailed information on several criteria including current CPOE usage at healthcare organizations, product capabilities and vendor performance.
About KLAS
KLAS is a research firm specializing in monitoring and reporting the performance of healthcare vendors. KLAS' mission is to improve delivery, by independently measuring vendor performance for the benefit of our healthcare provider partners, consultants, investors, and vendors. Working together with executives from over 4500 hospitals and over 2500 clinics, KLAS delivers timely reports, trends, and statistics, which provide a solid overview of vendor performance in the industry. KLAS measures performance of software, professional services, and medical equipment vendors. For more information, go to www.KLASresearch.com, email marketing@KLASresearch.com, or call 1-800-920-4109 to speak with a KLAS representative.
About Eclipsys
Eclipsys is a leading provider of advanced integrated clinical, revenue cycle and performance management software, clinical content and professional services that help healthcare organizations improve clinical, financial and operational outcomes. For more information, see www.eclipsys.com or email info@eclipsys.com.
Statements in this news release concerning the timing of implementation and features of and benefits provided by Eclipsys software and implementation services are forward-looking statements and actual results may differ from those projected due to a variety of risks and uncertainties. Implementation and customization of Eclipsys software is complex and time-consuming. Results depend upon a variety of factors and can vary by client. Each client's circumstances are unique and may include unforeseen issues that make it more difficult than anticipated to implement or derive benefit from Eclipsys software or services. The success and timeliness of the company's services will depend at least in part upon client involvement, which can be difficult to control. Eclipsys is required to meet specified performance standards, and the contract can be terminated or its scope reduced under certain circumstances. More information about company risks is available in recent Form 10-Q and 10-K filings made by Eclipsys from time to time with the Securities and Exchange Commission. Special attention is directed to the portions of those documents entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Eclipsys Corporation and The Outcomes Company are registered trademarks of Eclipsys Corporation. Sunrise Clinical Analytics and Sunrise Clinical Manager are trademarks of Eclipsys Corporation. Other product and company names in this news release are trademarks and/or registered trademarks of their respective companies.
SOURCE: Eclipsys Corporation
Eclipsys Corporation Robin Wrinn, 404-847-5219 Director, Public Relations (media) robin.wrinn@eclipsys.com or Jason Cigarran, 404-847-5965 Vice President, Investor Relations jason.cigarran@eclipsys.com
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Companies: Eclipsys Corp. (ECLP)
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Eclipsys healthcare IT solutions help hospitals, physician practices achieve real, measurable clinical, financial and operational outcomes.
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