Today an agreement was announced with Salesforce.com investing in Practice Fusion, the free EMR that is supported by advertising. I remember 
back when the company started out, there were reservations, but it appears things are working well with e-prescribing even coming online next month. Profits of a million a year are not bad either. BD
The tech industry’s push into health care continues today, with word that Salesforce.com is investing in Practice Fusion, a closely held company in the electronic medical records business.
It’s a small deal: Practice Fusion CEO Ryan Howard told us the investment is less than $10 million, and Salesforce will get a minority stake
in an outfit with revenues of about $1 million a year.
Practice Fusion already uses that model, and lots of the bigger, better known electronic medical records companies are offering that sort of thing as well. Howard told us that, under the deal, Practice Fusion’s EMR will reside on Salesforce.com’s cloud.
More broadly, lots of tech companies have been trying to grow their presence in health care. To name a few, Google and Microsoft have launched personal health records, which allow patients to store their own health data; Cisco and UnitedHealth recently announced a telemedicine project; and Intel and GE teamed up on a system to allow doctors to monitor patients at home.
Salesforce.com Dips Its Toe Into Electronic Medical Records - Health Blog - WSJ
Related Reading:
Revenue of $1M a year does not mean profits of $1M a year. Profit (income) = revenue - expenses (e.g. salaries, technology, etc). For that revenue, they can't have more than 10 people working for the company unless they're willing to lose $. But I guess that's what the Salesforce investement is for - to cover their ongoing losses.
ReplyDelete