athenahealth inc (ATHN) Details
athenahealth, Inc., a business services company, provides ongoing billing, clinical-related, and other related services to medical group practices primarily in the United States. The company provides services through the athenaNet, a proprietary Internet-based practice management application. It offers athenaCollector, a revenue cycle management service that automates and manages billing-related functions for physician practices, and includes a practice management platform. The athenaCollector assists its physician clients with the handling of claims and billing processes to help manage reimbursement. The company also provides Anodyne Analytics, a business intelligence application, which offers physicians and practice managers with insight into practice performance; and Healthcare Data Services that offers practices an understanding of the cost and quality of the care to patients. In addition, it offers athenaClinicals, an electronic health record service that automates and manages medical-record-management-related functions for practices, as well as assists medical groups with the handling of physician documentation, orders, and related inbound and outbound communications. Further, the company provides athenaCommunicator that allows practices to manage patient communication tasks electronically; the creation of a self-service patient portal for registration, appointment requests, bill payments, and general communication; automatic generation of emails to patients; and patient education tools. Additionally, it offers athenaCoordinator, a referral cycle management tool that helps streamline the disorganized system of patient care coordination. athenahealth, Inc. sells its products through a direct sales force, as well as through channel partners. The company was formerly known as athenahealth.com, Inc. and changed its name to athenahealth, Inc. in November 2000. athenahealth, Inc. was incorporated in 1997 and is headquartered in Watertown, Massachusetts.
Last Reported Date: 02/11/13
Founded in 1997
athenahealth inc (ATHN) Top Compensated Officers
Co-Founder, Executive Chairman, Chief Executi...
Total Annual Compensation: $530.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $321.3K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $300.0K
President of Enterprise Services
Total Annual Compensation: $300.0K
Chief Marketing Officer and Senior Vice Presi...
Total Annual Compensation: $300.0K
Compensation as of Fiscal Year 2012.
INTEGRIS Health, Inc. and Athenahealth, Inc. Partner to Improve Care Coordination and Better Manage Network of Providers
May 15 13
Athenahealth, Inc. announced that INTEGRIS Health will use athenahealth's cloud-based services to centralize revenue cycle management, enhance patient communications and care coordination, and gain better insight into provider productivity and care delivered across INTEGRIS's growing patient population. INTEGRIS will deploy athenaCollector(R), athenaCommunicator(R), and athenaClarity(SM). As a fast-growing health system with more than 300 physicians across 11 hospital facilities and nearly 100 clinics, INTEGRIS needed an information infrastructure and set of supportive services that could help the health system align its operational processes running across multi-vendor systems and disparate locations. Through its work with athenahealth, INTEGRIS will move from a decentralized billing and IT infrastructure to a uniform structure and set of processes that will help the group to scale, achieve greater ROI and better track and collect on claims. As part of its work with athenahealth, INTEGRIS will enhance patient scheduling, making it easy for patients to manage office visits and communication with the health system between visits and simplify coordination between primary and specialty care. INTEGRIS will also gain unique and highly valuable insight into provider productivity and care activity across its many locations; this will allow the health system to evaluate services delivered against a uniform set of metrics. Additionally, this comprehensive insight will position INTEGRIS to perform in line with, and effectively report against, a variety of quality-based reporting and payment models.
athenahealth Inc. Acquires Arsenal on the Charles in Watertown, Massachusetts from Harvard University
May 13 13
Avison Young announced that athenahealth, Inc. has finalized the acquisition of the 'Arsenal on the Charles' - a 760,000-square-foot (sf), 11-building complex situated on 29 acres on the Charles River in Watertown, MA - for $168.5 million. The seller was Boston-based Harvard University.
The Arsenal on the Charles is currently more than 90% leased. athenahealth currently occupies 250,000 sf. Other major tenants include Harvard Business School Publishing (100,000 sf), Bright Horizons (90,000 sf) and Boston Sports Clubs (50,000 sf).
Athenahealth, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Provides Earnings Guidance for the Fiscal Year Ending December 31, 2013
May 2 13
Athenahealth, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenue of $125,596,000 against $96,566,000 a year ago, an increase of 30%. Operating loss was $11,873,000 against operating income of $5,187,000 a year ago. Loss before income taxes was $11,983,000 against income of $5,321,000 a year ago. Net income was $700,000 against $2,428,000 a year ago. Basic and diluted net income per share was $0.02 against $0.07 a year ago. Net cash used in operating activities was $5,540,000 against $379,000 a year ago. Purchases of property and equipment were $11,003,000 against $10,383,000 a year ago. Capitalized software development costs were $4,799,000 compared to $2,839,000 a year ago. Non-GAAP adjusted EBITDA was $17,575,000 against $17,059,000 a year ago. Non-GAAP adjusted operating income was $9,390,000 against $11,573,000 a year ago. Non-GAAP adjusted net income was $14,224,000 against $6,260,000 a year ago. Non-GAAP adjusted net income per diluted share was $0.38 against $0.17 a year ago.
For the fiscal year ending December 31, 2013, the company expected total revenue in the range of $580.0 million to $615.0 million, non-GAAP adjusted gross profit in the range of $365.4 million to $393.6 million, non-GAAP adjusted gross margin in the range of 63.0% to 64.0%, non-GAAP adjusted operating income in the range of $68.0 to $80.0 million, non-GAAP adjusted operating income margin of 11.7% to 13%, GAAP net income in the range of $0.4 million loss to $18.5 million income or $0.01 loss to $0.08 income per diluted share, non-GAAP adjusted net income in the range of $39.8 to $43.4 million or $1.05 to $1.15 per diluted share and GAAP effective tax rate of approximately 70% to 90%. The change in the anticipated fiscal year 2013 GAAP effective tax rate is driven by the purchase of Epocrates. Guidance for core athena remains unchanged. Non-GAAP tax rate of 37% to 43% for the year. The range for Epocrates revenue is $46 million to $55 million, which includes an approximate $10 million reduction in revenue attributed to the purchase accounting treatment of Epocrates deferred revenue and an approximate $15 million reduction due to the changes made to market research offerings.