I want to do a quick round up of the big EMR systems and some of the promising new ones. I think I may have over done it on the pharma companies when I did that round up, so I’m going to be a little briefer here. I will try to do the 5 most popular EMRs and a couple emerging ones. Today is Meditech.
Meditech
Meditech has hardly come up for me personally in my first few years working in the Health Tech field, but they still own a respectable 16% of the market. A reason why I may not have encountered them is because they are especially popular among small hospitals and community health centers, a sector of the market that the companies I’ve worked with don’t touch. But they seem quite well regarded in that sector, being ranked #1 for that segment by KLAS, and maintaining very high satisfaction ratings.
One reason that Meditech is preferred by smaller organizations is that their software includes not only an EMR but other functions including revenue cycle management, medication management systems and clinical decision support that’s not too complicated.
Meditech was founded in 1969 by George Benson and Neil Pappalardo. The company started as a developer of blood bank software, but it soon expanded its focus to other areas of healthcare technology. In the early 1980s, Meditech developed their EHR around the same time as Epic and Cerner.
In 2019, Meditech released their cloud-based Expanse platform, which is cloud-based. It includes a mobile app and portal for patients and virtual care support. It also interestingly includes Expanse Transport, which provides support for transporting patients, equipment, and other items throughout an organization.
17% market share
Headquartered in eastern Massachusetts
Founded in 1968
The founder and chairman is Neil Pappalardo
Popular among smaller hospitals and community health centers
Eighty-five percent of Meditech sites have been with the EHR company for over a decade
Clinicians ranked their satisfaction with Meditech's personalization abilities 8.4 on a zero to nine-point scale, higher than any other EHR vendor, according to a KLAS Research and Arch Collaborative report.
Stable financial performance of around $500-600 M in annual revenue
In 2021, KLAS named the company the No. 1 acute care EMR, patient accounting and patient management platform for community hospitals.
Resources:
https://ehr.meditech.com/news/meditech-leads-small-hospital-market-share-klas-report-shows
https://www.healthcareitnews.com/directory/meditech
https://ehr.meditech.com/news/meditech-expanse-cloud-based-ehr-platform-built-todays-healthcare-needs
https://craft.co/meditech/metrics
https://ehr.meditech.com/ehr-solutions/cloud-platform
https://ehr.meditech.com/about/meditech
https://www.beckershospitalreview.com/healthcare-information-technology/31-numbers-that-show-how-big-epic-cerner-allscripts-meditech-are-in-healthcare.html