Analysts Find Dedicated Healthcare Information Technology Companies Better Prepared to Implement EMR Systems Than Larger Tech Firms

Salt Lake City, Utah (May 28, 2007) – Analysts covering the Electronic Medical Records industry have reported that in-depth studies show dedicated healthcare information technology companies are better prepared for the realities of implementing EMR systems than larger tech companies new to the game, according to online postings this week by Forbes and Business Week magazines.

AP writer, Wallace Witkowski, has written that Friedman Billings Ramsey analyst James Kumpel “likened large tech companies venturing into healthcare information technology as the Goliaths that will lose to the smaller, better-entrenched Davids of the sector.”

This is a welcome finding, according to Zubin Emsley, CEO of Salt Lake City-based EMR firm ChartLogic. “The acknowledgement of the strengths of specialized EMR companies such as ours is a reinforcement of what those in the industry already know: that breadth and depth of experience in EMR can and do significantly impact the quality of the final product.”

ChartLogic’s research indicates that awareness and perceptions of EMR have risen, and the inclination to purchase is also growing. “Almost all physicians surveyed who do not currently have EMR have indicated they will eventually purchase it,” Emsley said. With more than 900,000 physicians in the US — and surveys indicating that less than 10 percent of these have purchased an EMR system — the market is estimated at $10 billion.

“It’s hardly surprising that the generalist tech ‘Goliaths’ want a piece of the action,” Emsley said. “The bottom line, though, is that success in this market is greatly dependent on a keen understanding of what your customers need — and the newer players are finding that this insight doesn’t come overnight.”

Since ChartLogic’s inception as an EMR company in 1994, the organization has spent more than a decade listening to physicians, investing in research and development, and customizing its products and business model to meet the very specific needs of physician practices in each medical specialty.

ChartLogic Vice President of Marketing, Tim Barrett, said that the EMR market is set to boom, “history has shown that when product penetration achieves a critical mass within a medical specialty, there is a surge of market penetration as word-of-mouth begins to accelerate and the product’s credibility soars.”

Barrett added that “positive word-of-mouth only takes place when products are great enough to earn it. And until the “Goliaths” learn that lesson the “Davids” will lead the conversation and continue to be the providers of choice.”

ChartLogic enjoys the highest levels of customer satisfaction in the industry, with a customer retention rate of more than 90 percent against an industry average of about 70 percent.

Source: ChartLogic