Virtua Selects NextGen(R) EHR to Support Quality Initiatives
HORSHAM, Pa., Oct 26, 2009 (BUSINESS WIRE) --
Company: Quality Systems, Inc. (QSII)
NextGen Healthcare Information Systems, Inc., a wholly owned subsidiary of Quality Systems, Inc. (NASDAQ: QSII) and a leading provider of ambulatory healthcare and connectivity solutions, today announced it has entered into an agreement with Virtua, a multi-hospital healthcare system headquartered in Marlton, NJ, for the deployment of NextGen EHR (Electronic Health Record). Starting immediately, the NextGen EHR product will be implemented across the Virtua Medical Group network, which currently consists of providers practicing at 23 locations. NextGen EHR will also be offered to the organization's network of community-based physicians.
"In light of recent stimulus developments, it is more critical than ever for providers to effectively capture, measure and report quality data," said Alfred Campanella, vice president and CIO of Virtua. "NextGen EHR will give our providers the tools needed to track and report on quality measures, especially those that relate to meaningful use criteria."
"Additionally, the product offers the customization capabilities and breadth of clinical content needed to ensure provider adoption and enhanced quality of care for our patients," added Campanella.
A CCHIT Certified(R) 2008 Ambulatory EHR, NextGen(R) EHR version 5.4.29 provides built-in clinical content and workflow for more than 25 specialties. The system leverages the latest standards to be interoperable with hospitals, labs, and pharmacies.
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.
SOURCE: NextGen Healthcare Information Systems, Inc.
For NextGen Healthcare Information Systems, Inc. Brian Parrish, 770-576-2544 bparrish@dodgecommunications.com
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Company: Quality Systems, Inc. (QSII)
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