Allscripts’ Board of Directors approves a Stockholder Rights Plan that would allow stockholders to buy Allscripts’ common stock at a 50% discount in the event of a hostile takeover attempt. Allscripts says the move was not done in response to any current hostile takeover attempts, and, the current stock price does not adequately reflect the company’s long term potential. The plan effectively means management has to approve any takeover, which seems to favor the management team over shareholders. Perhaps a hostile takeover that includes a premium share price might be more financially beneficial in the eyes of some stockholders.
Apex Medical Group d/b/a Nephrology Consultants (TN) agrees to pay $4.36 million to settle allegations that it submitted false and fraudulent claims to government health programs through a pattern of up-coding for various physician services or billing for services never rendered. The case stems from a whistleblower lawsuit filed in 2005 which alleged that the physician owners-managers inaccurately filed claims to Medicare and TennCare for a variety dialysis services. The owners settled without admitting wrongdoing. The whistleblower will received over $400,000 as part of the settlement.
Emdeon acquires TC3 Health, a provider of cost containment solutions for healthcare payers.
Southern Brain & Spine (LA) selects SRS EHR for its 10 providers.
RCM provider PracticeMax acquires KLO Professional Billing, a provider of billing and PM services for physician offices.
The 25-doctor Valley ENT (AZ) selects ChartLogic’s EHR Suite.
Bloomberg Businessweek profiles eClinicalWorks CEO Girish Navani and his company’s community analytics offering, which provides reporting, alerting, and messaging capabilities for population health management. Navani, by the way, predicts eCW’s 2012 revenues will hit $250 million.
Physician offices added 5,500 of the healthcare industry’s 19,000 new jobs in April.
The AMA issues a reminder to physicians that June 30, 2012 is the deadline to report on at least 10 electronic prescriptions to avoid the 2013 Medicare e-prescribing program penalty. Physicians unable to meet the program requirements can apply for a hardship exemption by June 30.