Greenway Medical Technologies Inc. has a substantial increase in revenues and customer base during operations for its fiscal year 2007 (FY07) ending June 30, 2007.
Greenway Medical Technologies Inc, a provider in integrated Electronic Health Records (EHR), practice management and interoperability functionality, reported that revenue for the year increased 41 percent from FY06 and 91 percent from FY05. The company completed FY07 with over 600 practices and 1700 sites licensing PrimeSuite, its fully integrated CCHIT EHR solution, which includes almost 2,500 physicians and 14,000 users in 42 states and the District of Columbia.
Greenway also initiated a new Community Electronic Health Record initiative during the latter half of FY07 and to date have begun working with six health systems and independent physician associations (IPAs).
"On behalf of all our employees, I am pleased to report that fiscal year 2007 was a pivotal year for Greenway," says Tommy Green, chairman and CEO of Greenway Medical Technologies Inc. "We have invested more than $80 million in building this industry's leading integrated EHR solution all while creating a highly-profitable and streamlined organization with no debt that looks forward to a very bright future. This momentum has propelled Greenway with $200 million in EHR opportunities in our sales pipeline. We are expanding Greenway after achieving positive EBITDA and positive cash flow in FY07. It is definitely an exciting time in the history of our company."
Plans for future growth of Greenway's infrastructure include a new 20,000- square-foot operations center adjacent to the company's corporate headquarters inside our 15 acre corporate campus that includes a state-of-the-art support call center, enhanced network operations center and expanded research and development space. Greenway maintains its commitment to hiring and fostering the best employees and corporate environment in the health information technology industry, says Green.
In June, Greenway announced that PrimeSuite 2007 R2 received its 2007 ambulatory EHR certification from the Certification Commission for Healthcare Information Technology (CCHIT). Greenway's PrimeSuite 2007 R2 was the first Ambulatory EHR product to receive CCHIT's 2007 Ambulatory EHR Certification. This certification assures that PrimeSuite has been tested and passed inspection on 100 percent of a comprehensive set of criteria for functionality, interoperability and security.
"For years we have assisted our physician membership to maximize practice revenues, traditionally through the provision of payor contract services. With reimbursement levels trending downward over the past several years, we realized we had to begin focusing our efforts to assist our physician membership with management of the overhead cost components of their practices and that is where Greenway comes in," says Bill Breen, CEO of Health Choice, LLC. "As a Greenway partner, we now provide a powerful tool to our physician membership, allowing their practices to optimize practice workflow, enhance patient care and reduce the practice's operating overhead," continues Breen. "Through widespread adoption of the Greenway solution in our community, we will also build one large interoperable network for physicians and the entire local healthcare community to electronically exchange patient care information in pursuit of improved patient care."
Last February at the annual HIMSS conference, Greenway received the 2006 "Best in KLAS" award for PrimeSuite in the Ambulatory EMR category for practices consisting of between 6-25 physicians.