Thread regarding Allscripts layoffs

I was laid off a little over a year ago and it was the best thing that could have happened to me. I took my DBA skills and spent some time learning Python, SSIS and some other Data Analytics classes and landed a job with a small employer. It's really nice to work for a small company where I'm one layer away from the CIO. My contributions are recognized and not subject to the whim of a bean counter.

I was part of the acquisition of products from McKesson. I stayed because I'd been for so long that I knew I was unlikely to find a job with corresponding pay and of course having 4 plus weeks of vacation helped. But it was tiresome feeling like you were care taking a dying patient. Our product was never given the resources to make it current or competitive in the market place. It's a damn shame too since it would have been easy enough to do with even a modicum of direction and development.

If any of you end up being laid off I wish you the best. In all honesty I've never been happier the axe finally got me.

Good luck to everyone. 2 years ago after 30 years with company I got booted when they gutted Analytics. It was a he-l of a ride. I still miss the job and the great people. Blessed that I was at the age I could just retire. What will be left in Raleigh? The office still closed?

@2kkx+1fyfp5oO
Veradigm has all of those properties I thought.

What about the payerpath arm? Clearinghouse money is easy money!

@1jkt+1fyfp5oO
Short answer: Veradigm
Longer answer: Nothing outside of Veradigm (Ambulatory/Payer) products that I can think of.

They literally disassembled Allscripts and sold pieces at a loss - JUST TO LINE THEIR OWN POCKETS. Expect the Leadership, Board, and top stakeholders to sell off everything as soon as legally possible and then go on to a "well-earned" luxury retirement on private islands.

What software products are left under the Allscripts umbrella after this sale?

Constellation purchased a 2.57B company for $700M. Thats a heck of a deal!

Break out the champagne glasses and some sapphire gin
Hold on, and take a walk on the wild side

I was wondering why the 'digital transformation' was being slow walked at a glacial pace.

Allscripts reveals itself to be what it is and always was - a holdings company. They are not an engineering company. They are not a software company. They buy and sell like antique dealers. And antiques are mostly all they have.

Too many levels of management sitting on a_s_s for years, not making necessary updates, while the world changed around them. People who don't know engineering or software running the show. Shipping jobs to foreign locales and calling it 'business success', as the quality spiraled further and further down. Design by central committee always fails in software.

I guess Harris is already aware they are buying a trash heap, and many of us who have already been through many M&As know exactly what is coming. Allscripts is becoming the next PanAm.

Response to "1mpm+1fyfp5oO"

The marketing group is nothing more then sales people who can't sell... Can't figure out how to generate any analytics to work from. I recall some marketing person... Having what was the equiv of a untired way chart elementary schools hung on their class room doors. Diligently she colored in each week the increase in klass scores the marketing group "calculated". Well she finally colored up to the top... Far surpassing the previous reported klass scores from last year & projected klass client statisfaction numbers. Turns out what ever formula she used/came up with..or source of information was never vetted. Her chart was no where close to reality final numbers. Actual class scores were much lower..worse then previous year.. they are a waste of $$$.

Response to "1mpm+1fyfp5oO"

The marketing group is nothing more then sales people who can't sell... Can't figure out how to generate any analytics to work from. I recall some marketing person... Having what was the equiv of a untired way chart elementary schools hung on their class room doors. Diligently she colored in each week the increase in klass scores the marketing group "calculated". Well she finally colored up to the top... Far surpassing the previous reported klass scores from last year & projected klass client statisfaction numbers. Turns out what ever formula she used/came up with..or source of information was never vetted. Her chart was no where close to reality final numbers. Actual class scores were much lower..worse then previous year.. they are a waste of $$$.

Didn't that group make 990 M of the 1.5B in 2021 How does selling it for 700m make sense when mdrx market cap is 2.34B?

What's your long term outlook on mdrx?

Well, say what you want but you can't fail to be impressed by a company that apparently has an on-demand Marketing department to make slick high-production-value customized Pseudo-Onboarding videos. I almost dialed Scientology's number by accident after watching that video. It's the Orwellian version of being a piece of chum thrown into a shark tank.

Ten Core Values, you say? Why, that's FOUR MORE CORE VALUES than I've ever had before in my career! I'm ALL IN!

Harris buys old worthless HIT companies. Quadramed has been dead for years. PICIS has been around since the caveman. Amazing Charts is the equivalent of PRO. Iatric is Meditech integration platform. IMDSoft is ancient.
Just a few examples of the pile of cr-p these poor soles will be joining.
Not to mention MDRX sold EPSI for $350M only got $670M for this bunch which is basically a one X multiple of revenue.
Word on the street is that Harris was bidding against Dollar Tree and Five Below.
The Sunrise and TW customers will be livid.

If the announcement has got you feeling low, perhaps you'll feel a lot better knowing that now Virgin Pulse is giving an extra 1000 Virgin points to anyone who gets a full night's sleep tonight after the announcement. Keep those Fitbits turned on Allscripters!

RESISTANCE IS FUTILE

So, the new bosses are going to be the N. Harris Computer Corporation which is a Division of Constellation Software - a company with only $3.1B Revenue in 2019 compared with Allscripts' $1.5B Revenue in 2020 (odds of combined revenue being $4.6B over the next few years are very slim).

NHCC "provides mission critical software solutions for the Public Sector, Healthcare, Utilities and Private Sector verticals throughout North America, Europe, Asia and Australia..[12] It has 31 constituent businesses."
SLAPS ROOF OF NHCC You can fit so many darn Verticals in this bad boy! Yeah, this is definitely a "Healthcare Oriented" company.

If you go to the N. Harris Computer Corporation website, there's a top-level menu called "Being Acquired".
https://www.harriscomputer.com/being-acquired

While those who have been assimilated appear to give glowing reviews of said assimilations I'm not sure if I'm more relieved or worried that they so prominently display their prowess at, well, assimilating others. Just as well that statistically speaking it's probably only around a 70% chance of becoming an assimilee if you consider reductions and people taking other pathways.

Worth taking a look around there and Constellation's website as well.
https://www.csisoftware.com/

They REALLY push the point that they "ACQUIRE. MANAGE. BUILD." Software.
I don't know about you, but I am a little bit wary of efforts by other companies with zero healthcare portfolios doing their darndest to force their way into the Healthcare IT Industry and getting shellacked for it. Watson is probably the biggest example of that, but Allscripts has a long and storied history of making questionable acquisitions and divestitures that seem more in line with making money rather than supplying customers with reliable, modern, and useful software that can save lives.

On the other hand, they're Canadian, and there is no way they are anywhere as dysfunctional as Allscripts is. The grass may just be greener on the other side after all...

Well, that didn't go the way I had it pictured at all....

https://investor.allscripts.com/news-releases/news-release-details/allscripts-sell-net-assets-its-hospitals-large-physician

I still think they're going to sell off Veradigm and ki-l off the "Allscripts" brand at some point - but there's probably a few more dollars to squeeze out of those stocks and all.

Stock going through the roof and I’m making more than ever. Lfg!

No downsizing! We won! The stock price is up, up, up!

Is it entirety of HHS?