athenahealth notches solid gains for Q2
athenahealth, a developer of web-based practice management, EHR and patient communication services to medical groups, has posted financial and operational gains for the second quarter of fiscal year 2010, which ended June 30.
Total revenue for the three months was $58.6 million, compared with $45.6 million in the same period last year--an increase of 28 percent, according to the Watertown, Mass.-based company.
The company has evolved from a single-product company to a full service partner across billing, medical records and patient communications, according to Jonathan Bush, chairman, president and CEO at athenahealth.
The generally accepted accounting principles net income for the second quarter of 2010 was $1.3 million, despite continued softness in physician office activity as well as the June Medicare claims hold that shifted about $1 million in business services revenue out of second quarter 2010 and into Q3 2010, officials said.
Metrics in the second quarter of 2010 included:
For the full fiscal 2010 year, the company expects to achieve 29 to 30 percent growth in total revenue.
Total revenue for the three months was $58.6 million, compared with $45.6 million in the same period last year--an increase of 28 percent, according to the Watertown, Mass.-based company.
The company has evolved from a single-product company to a full service partner across billing, medical records and patient communications, according to Jonathan Bush, chairman, president and CEO at athenahealth.
The generally accepted accounting principles net income for the second quarter of 2010 was $1.3 million, despite continued softness in physician office activity as well as the June Medicare claims hold that shifted about $1 million in business services revenue out of second quarter 2010 and into Q3 2010, officials said.
Metrics in the second quarter of 2010 included:
- $1.4 billion in collections posted to client accounts, compared wtih $1.2 billion in the same quarter of 2009; and
- 38.8 average client days in accounts receivable (DAR), compared with 40.2 average client DAR in the same quarter of 2009.
For the full fiscal 2010 year, the company expects to achieve 29 to 30 percent growth in total revenue.