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NextGen Healthcare

#4497

Rank

$1.1B

Marketcap

US United States

Country

NextGen Healthcare
Leadership team

Mr. David William Sides (CEO, Pres & Director)

Mr. James Robert Arnold Jr. (Exec. VP & CFO)

Mr. David A. Metcalfe (Exec. VP & CTO)

Products/ Services
Analytics, Electronic Health Record , Health Care, Information Services, Medical
Number of Employees
1,000 - 20,000
Headquarters
Irvine, California, United States
Established
1974
Company Registration
SEC CIK number: 0000708818
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
NXGN
Social Media
Overview
Location
Summary
NextGen Healthcare, Inc. provides healthcare technology solutions in the United States. The company offers clinical care solutions, including NextGen Enterprise EHR; financial solutions, such as NextGen Enterprise PM; patient engagement solutions comprising NextGen Virtual Visits; integrated clinical care and financial solutions consisting of NextGen Office; interoperability solutions that include NextGen Share and Mirth Connect; data and analytics solutions, which comprise NextGen Health Data Hub; and value based care solutions, including NextGen Population Health Solutions. It also provides managed services, such as revenue cycle management services comprising billing and collections, electronic claims submission and denials management, electronic remittance and payment posting, and accounts receivable follow-up; and client and support services. Further, the company offers professional services consisting of training, project management, installation services, and application managed services; and consulting services that include physician, professional, and technical consulting; assisting clients to optimize their staffing and software solutions; enhancing financial and clinical outcomes; achieving regulatory requirements; and meeting the requirements of healthcare reform. It serves accountable care organizations, independent physician associations, managed service organizations, veterans service organizations, dental service organizations, ambulatory care centers, and community health centers through a direct sales force and reseller channel. The company was formerly known as Quality Systems, Inc. and changed its name to NextGen Healthcare, Inc. in September 2018. NextGen Healthcare, Inc. was incorporated in 1974 and is headquartered in Atlanta, Georgia.
History

Quality Systems, Inc. was formed by Sheldon Razin in 1973 in Corona, California, as a dental software company. Sheldon started QSI in his home study with $2,000, and built it into a business with a market capitalization of over a billion dollars, with no debt or venture funding.

QSI was incorporated in April 1974.In December 1982, QSI went public through NASDAQ under the symbol QSII.In 1994, Clinitec was formed by Pat Cline and Bryan Rosenberger to sell software for converting paper medical records into electronic medical records. After acquiring a smaller interest in 1995, QSI purchased the remaining equity of Clinitec in 1996.In May 1997, QSI purchased Micromed, which provided front- and back office practice management software. In April 1999, QSI combined Clinitec and MicroMed into one operating division to create the MicroMed division, which was later renamed NextGen Healthcare Information Systems division in 2001.

In 2008, NextGen Healthcare then acquired HSI of St. Louis, Missouri, and Practice Management Partners of Hunt Valley, Maryland, to expand its billing services and revenue cycle consulting division.

In 2009, NextGen Healthcare updated the name of its electronic medical record system from NextGen EMR to NextGen EHR.

In February 2010, Quality Systems entered into an agreement to acquire Opus Healthcare Solutions, Inc. and announced it would be integrated with the assets of Sphere Health Systems, Inc., which were acquired by QSI in August 2009. Both software and services companies for the inpatient market would become part of NextGen Healthcare.

In October 2010, NextGen Ambulatory EHR v.5.6.SP1 earned certification for Stage 1 Meaningful Use to support eligible providers in receiving funding under the American Recovery and Reinvestment Act . NextGen Inpatient Clinicals v.2.4 earned Stage 1 Meaningful Use certification to support hospitals in December 2010. Version 5.6 certified reporting makes extensive use of included add-on Crystal Reports which mine data from the EHR database.

Pat Cline retired from NextGen in 2011, and started up a new health informatics venture: Lightbeam Health Solutions.In 2013, Quality Systems acquired Mirth Corporation, developers of Mirth Connect, a popular open-source integration engine used by thousands of healthcare entities.

In 2013, NextGen was ranked as one of the Top 20 Most Popular EHR Software Solutions on the market by Capterra.In 2014, NextGen earned KLAS Top Performance Honors for Ambulatory RCM Services.On October 30, 2015, Quality Systems announced an agreement to acquire HealthFusion for $165 million-plus potential additional contingent consideration of up to $25 million. Based in San Diego, Calif., HealthFusion was a privately held developer of web-based software for physicians, hospitals and medical billing services.In October 2019, NextGen Healthcare acquired Topaz Information Solutions.In November 2019, NextGen Healthcare announced the acquisition of Medfusion and completed the acquisition in December 2019.In December 2019, NextGen Healthcare announced an agreement to acquire OTTO Health

Mission
NextGen Healthcare is dedicated to redefining the Delivery, Experience and Quality of healthcare by connecting doctors and patients with solutions that drive better outcomes.
Vision
Our vision is to be the leader in providing solutions that integrate our customers with the right data and tools to power their success in a constantly changing healthcare landscape.
Key Team

Mr. Mitchell L. Waters (Exec. VP of Commercial Growth)

Mr. Srinivas S. Velamoor (Exec. VP, Chief Growth & Strategy Officer)

Mr. David Ahmadzai (Sr. VP, Corp. Controller & Chief Accounting Officer)

Mr. David Slazyk (Chief Information & Security Officer)

Mr. Matthew Scalo (VP of Investor Relations)

Mr. Jeffrey D. Linton (Exec. VP, Gen. Counsel & Sec.)

Ms. Colleen Edwards (Sr. VP of Marketing)

Recognition and Awards
Since its founding, NextGen Healthcare has been recognized with numerous awards, including the KLAS Category Leader Award for Ambulatory EHR since 2010 and the Inc. 5000 Hall of Fame. In 2016, NextGen Healthcare was named 34th in Deloitte’s 50 fastest-growing technology companies.
References

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NextGen Healthcare
Leadership team

Mr. David William Sides (CEO, Pres & Director)

Mr. James Robert Arnold Jr. (Exec. VP & CFO)

Mr. David A. Metcalfe (Exec. VP & CTO)

Products/ Services
Analytics, Electronic Health Record , Health Care, Information Services, Medical
Number of Employees
1,000 - 20,000
Headquarters
Irvine, California, United States
Established
1974
Company Registration
SEC CIK number: 0000708818
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
NXGN
Social Media