NextGen Healthcare Strengths, Domain Expertise, and Key Differentiators
Headquartered in Atlanta, Georgia, NextGen Healthcare is an American software and services firm. Specializing in electronic health record (EHR) software and practice management systems, the company caters to the healthcare sector. Additionally, NextGen Healthcare offers population health, financial management, and clinical solutions tailored for medical and dental practices.
NextGen Healthcare Recent Developments
In September 2023, NextGen Healthcare launched NextGen Ambient Assist, offering AI-generated SOAP notes directly into the electronic health record (EHR) for provider convenience. This innovative tool, accessible through the NextGen Mobile application, saves providers up to two hours of documentation daily, enhancing patient interaction time. Within 30 seconds of a patient encounter, a concise SOAP note appears with over 90% accuracy, streamlining the documentation process.
In May 2020, NextGen Healthcare, a provider of ambulatory-focused technology solutions, launched NextGen Advisors. This team of healthcare and regulatory experts provides strategic guidance to ambulatory care providers nationwide, aiming to navigate industry changes and enhance patient outcomes.
In June 2019, NextGen introduced the NextGen Behavioral Health Suite, offering providers a unified platform for both physical and behavioral health records. Ideal for various healthcare settings, including physician practices, community health clinics, and behavioral health centers, the suite supports targeted case management, crisis intervention, substance use disorder services, and more. It facilitates seamless data exchange across care settings and allows clinicians to access patient information remotely for informed care delivery.
In 2018, NextGen signed an agreement with Amazon to migrate its hosted clients to Amazon Web Services.
NextGen Healthcare Mergers and Acquisitions (M&A) Activities
In November 2023, Thoma Bravo finalized its acquisition of NextGen Healthcare, following the agreement announced on September 6, 2023. Shareholders approved the acquisition at a Special Shareholder Meeting on November 7, 2023. As part of the transaction, NextGen Healthcare shareholders will receive $23.95 per share in cash. Consequently, the company's common stock ceased trading and will be delisted from Nasdaq.
In November 2022, NextGen finalized a deal to acquire TSI Healthcare for $68 million upfront, payable in cash. Additionally, there's a potential earnout of up to $22 million in cash, contingent on meeting specific financial targets by March 31, 2025. The acquisition is expected to contribute $10 to 12 million in revenue for the remaining four months of fiscal 2023 and will enhance adjusted EBITDA and cash flow within a year. Updated guidance will be provided upon reporting fiscal 2023 third-quarter results.
NextGen Healthcare completed the acquisition of Medfusion, in November 2019. The anticipated closure is slated for early December 2019, contingent upon meeting closing conditions, which involve transferring Medfusion's data services business. The total acquisition cost is $43 million, with adjustments applied as per standard practices. Payment will be made in cash upon finalizing the acquisition. Medfusion's Patient Experience Platform facilitates crucial aspects of patient-provider interactions. With a modern, user-friendly interface compatible across all devices, the platform offers robust features for patient intake, scheduling, and payments. Currently, it serves over 16 million patients.
NextGen Healthcare Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying NextGen Healthcare applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of NextGen Healthcare and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified NextGen Enterprise EHR, NextGen Office, NextGen Telehealth, customers.
NextGen Healthcare Overview
3525 Piedmont Rd., NE Building 6, Suite 700
Atlanta, GA, 30305, United States
1 404-467-1500
https://www.nextgen.com/
Ownership: - Thoma Bravo
Number of Employees: 2800
Functional Markets: Analytics and BI, Collaboration, Content Management, ERP Financial, ERP Services and Operations,
Key Verticals: Healthcare,
NextGen Healthcare Key Enterprise and Cloud Applications
NextGen Enterprise EHR, NextGen Office, NextGen Telehealth,
NextGen Healthcare Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
NextGen Healthcare Revenue Breakdown By Type, $M:
NextGen Healthcare Enterprise Applications Revenues By Functional Markets, $M:
NextGen Healthcare Enterprise Applications Revenues By Verticals, $M:
NextGen Healthcare Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
NextGen Healthcare Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
NextGen Healthcare Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified NextGen Healthcare Customers
No. of NextGen Healthcare Customers: 10000
No. of NextGen Healthcare Enterprise Applications Customers: x
No. of NextGen Healthcare Cloud Customers: x
No. of NextGen Healthcare Cloud Subscribers: 100000
NextGen Healthcare serves over 10,000 clients and has a customer base of 155,000 providers. Among its notable customers are Reno-Sparks Tribal Health Center (RSTHC), Gila River Health Care (GRHC), Pacific Dental Services (PDS), Capital Women’s Care, LLC, Putnam County Memorial Hospital (PCMH), Avita Health System, Medical Advanced Pain Specialists, Lee Dental, Fairfield County Bariatrics, Community Practice Services, Hunterdon Healthcare, Surgery Partners, Katzen Eye Group, Gailey Eye Clinic, Medical College of Wisconsin, Crystal Run Healthcare, D.W. McMillan Memorial Hospital, Prairie Clinic, MedStar Good Samaritan, and others.
NextGen Healthcare Market Opportunities, M&A and Geo Expansions
In March 2023, NextGen Healthcare introduced Mirth Cloud Connect, an enhanced solution aimed at addressing clinical data exchange challenges across various healthcare entities. Leveraging Mirth Connect's renowned integration engine, Mirth Cloud Connect streamlines connectivity and patient data flow from multiple sources to care providers and patients. This facilitates actionable insights at the point of care, promoting better healthcare outcomes. Built upon the success of Mirth Connect, which processes over 7 million messages monthly, NextGen Healthcare tools serve more than one-third of Health Information Exchanges (HIE).
In March 2020, NextGen Healthcare launched the NextGen Patient Experience Platform, incorporating advanced patient access and engagement features. This offering, a result of the recent integration of Medfusion and OTTO Health, seamlessly extends NextGen Enterprise, the company's acclaimed Electronic Health Records (EHR) and Practice Management solution.
NextGen Healthcare Risks and Challenges
NextGen Healthcare faces risks in developing and marketing new products to keep up with technological changes and industry standards. There's uncertainty about their success in meeting client needs and competing with other software products. Failure to distinguish their offerings or introduce new products promptly could harm their market share and financial condition. Despite efforts to develop new software, success is not guaranteed, and delays could impact their competitive position.
NextGen Healthcare Ecosystem, Partners, Resellers and SI
In January 2024, Spectrum Healthcare chose NextGen Healthcare to enhance its delivery of whole-person care, addressing Arizona's significant medical and mental health needs. Serving areas with shortages of healthcare professionals, Spectrum provides integrated mind-body care across seven locations, including telehealth and in-home services. It operates mobile crisis teams and collaborates with schools for on-campus student care. NextGen solutions, including EHR, practice management, population health, mobile, self-scheduling powered by Luma, and behavioral health suite, will enhance interoperability and optimize performance across Spectrum's statewide network.
In August 2023, NextGen Healthcare and Luma Health expanded their partnership to offer AI-enhanced patient communication solutions for ambulatory organizations nationwide. The collaboration introduces NextGen Patient Engage and NextGen Self-Scheduling powered by Luma, allowing patients to engage with providers in over 20 languages via mobile devices. Integrated with NextGen Enterprise EHR, these solutions enable appointment confirmations, cancellations, document submissions, and pre-visit intake forms from home. NextGen Healthcare clients gain features such as appointment reminders, "smart" waitlist invitations, and automated responses using AI and natural-language processing. All interactions are secure and HIPAA-compliant.
In January 2020, NextGen formed an exclusive partnership with Doctible, a platform that facilitates real-time patient feedback and automates back-office tasks for healthcare providers. Doctible seamlessly integrates with NextGen Office, a cloud-based Electronic Health Record (EHR) and Practice Management (PM) system, enhancing loyalty and aiding practice growth for small practices. It offers a comprehensive communication suite, including HIPAA-compliant texting, customizable appointment reminders, and tools to boost online reputation.
NextGen Healthcare primarily utilizes its direct sales force for sales, supplemented by a few resellers.
NextGen Healthcare partners with a range of companies including Dell, 3M, Aviacode, Cardiac Science, Citrix Systems, Clearwave, Conversion Technologies International, DataFile Technologies, DISC Corporation, Diversified Information Technologies, Document Imaging Technologies, Entrada, First Databank, Fujitsu Computer Products of America, GFI Software, Harmony Healthcare IT, Healthwise, Inc., HP, IBM, IMO, Intel, IntrinsiQ, Isabel Healthcare, j2 Global, Inc., LifeSigns, LLC, MDabstract, M.I.S.T., Microsoft, Midmark, NexSched, Nuance Healthcare, OTech Group LLC, Phreesia, Pioneer Records Management, Inc., Primetime Medical Software, RemitDATA, Inc., RemoteScan Corporation, RxVantage, ScImage, Inc., SIS NW, SureScripts, and Welch Allyn, Inc.
NextGen Healthcare Cloud Infrastructure Insights
Subscribe to read more about:
- NextGen Healthcare Public Cloud and Infrastructure (IaaS)
- NextGen Healthcare Platform (PaaS)
- NextGen Healthcare Application Delivery
- NextGen Healthcare Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/About Ushttps://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
