- This board is just as negative and depressing as it was 3+ years ago. Just like McKesson’s board. Both companies have the distinction of being on TheLayoff.com’s most active boards. Not a good sign. Unhappy employees don’t make a good company.
- To many Acquisitions and you end up with a bunch of software that doesn’t work together. They will try to get whatever they can from it and then dump it which will mean layoffs. McKesson did it. Allscripts and Hyland are doing it.
- When it hits management’s pocket, the real workers pay the price. PP did it at McKesson and there was no pandemic. Just excuses and finger pointing.
- Outsourcing. What do you get in return? C-appy software with a lot of bugs, reduced enhancements and less sales. Eventually, layoffs.
Here are some of the highlights from a financial companies business outlook on Allscripts .
- Free cash flow 2020. -211.7M
- Revenue 3yr growth. -5.95
- Combined, Cerner and Epic have 85% of the hospital EMR market. Allscript’s, around 6%.
- Switching costs are high putting pressure on Sunrise sales.
- Software Undifferentiated.
- Numerous acquisitions but lacks traction and cross selling.
- In 2018, 14 Sunrise clients switched to Epic. Three more losses in 2019.
- Net hospital market loss of approx. 29% last year.
- 2018 Bookings and backlog growth declined approx. 26% and 17% respectively.
- Stewardship. Poor.
- Community hospitals are folding or being acquired putting pressure on Paragon sales.
- Numerous acquisitions, segment reclassification and spin off sales make understanding Allscripts business challenging.
- Unlikely to lure new client.
- Faces substantial refinancing risk as sizable maturities are coming due in July.
Predictions. Layoffs are likely to continue in the future. Sunrise will be Sunset. Paragon will be ParaGone.