athenahealth Among Cloud Top 500

athenahealth Strengths, Domain Expertise, and Key Differentiators

Since it was founded in 1997, Athenahealth has become the powerhouse in Cloud healthcare through a combination of three distinct but interconnected components—cloud-based software, networked knowledge, and back-office services.

Athenahealth enables healthcare providers to achieve and sustain financial health while keeping their focus on quality patient care. Its cloud-based services are currently packaged as four integrated offerings: athenaCollector for revenue cycle management, athenaClinicals for electronic health record, athenaCommunicator for patient engagement, and athenaCoordinator for patients access and care coordination services.

athenahealth Recent Developments

In July 2020 athenahealth renamed its CentricityTM Business to athenaIDX. Through the operational integration between Virence Health and athenahealth, this rebrand aligns the enterprise Revenue Cycle Management (RCM) solution with the company’s product portfolio and leverages the strength of the IDX and athenahealth brands.

athenaIDX is an on-premise or cloud-hosted enterprise RCM solution that helps health systems, hospitals, billing services, and large practices optimize financial performance and successfully adapt to healthcare payment reform. It is currently in use by some of the nation’s largest healthcare organizations, including Banner Imaging, Baystate Medical Practices (BMP), Dignity Health, Memorial Sloan Kettering Cancer Center, and Sharp HealthCare. Based on the 2018 CMS Cost Report data, athenaIDX hospital clients achieved an industry-leading 43.6 days in accounts receivable, saw net incomes roughly double that of the industry average, and had the lowest bad debt percentage among customers of other hospital RCM solutions. Additionally, the first claim payment success rate for ambulatory clients is 94% according to the athenaIDX customer metrics program.

In November 2018, Athenahealth was acquired by Veritas Capital for $135 per share in cash. Following the closing, Veritas and Evergreen expect to combine Athenahealth with Virence Health, the GE Healthcare Value-based Care assets that Veritas acquired earlier this year. Following the close of that transaction, the combined company is expected to operate under the Athenahealth brand and be headquartered in Watertown, Massachusetts.

athenahealth Mergers and Acquisitions (M&A) Activities

In November 2021, Athenahealth was bought by private equity firms Hellman & Friedman, Bain Capital for $17 billion. The purchase from Veritas Capital and Evergreen Coast Capital affirms athenahealth’s position as the largest and most innovative provider of cloud-based electronic medical record and physician practice solutions across the healthcare continuum in the United States.

In February 2019 Athenahealth completed its previously announced sale to an affiliate of Veritas Capital and Evergreen Coast Capital for approximately $5.7 billion in cash. Virence Health, the former GE Healthcare Value-based Care assets that Veritas acquired in 2018, will combine with Athenahealth under the Athenahealth name and brand. The combined company will be led by Virence Chairman and Chief Executive Officer Bob Segert and an executive leadership team comprised of executives from both companies and will be headquartered on the Athenahealth campus in Watertown, Massachusetts.

As part of the transaction, Virence's Workforce Management business becomes a separate Veritas portfolio company under the API Healthcare brand. The combination of Athenahealth and Virence brings together two innovative companies with complementary expertise and a shared focus and passion for improving healthcare outcomes. With a network of over 160,000 providers, the combined company is positioned for future growth and new market opportunities and has the necessary scale to make a transformational impact in the healthcare industry.

The transaction was announced on November 12, 2018, and received approval from Athenahealth shareholders on February 7, 2019. As a result of the completion of the transaction, shares of Athenahealth common stock will be removed from listing on Nasdaq, with trading in Athenahealth shares to be suspended following the closing of business today.

athenahealth Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying athenahealth 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 athenahealth 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 athenaClinicals, AthenaCollector, athenaCommunicator, athenaCoordinator, AthenathenaCommunicator Enterprise, customers.

athenahealth Key Enterprise and Cloud Applications

athenaClinicals, AthenaCollector, athenaCommunicator, athenaCoordinator, AthenathenaCommunicator Enterprise,

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athenahealth Revenue Breakdown By Type, $M:

athenahealth Enterprise Applications Revenues By Functional Markets, $M:

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athenahealth Direct vs Indirect sales

athenahealth Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified athenahealth Customers

No. of athenahealth Customers: 160000

No. of athenahealth Enterprise Applications Customers: 160000

No. of athenahealth Cloud Customers: 160000

No. of athenahealth Cloud Subscribers: 10 million

Athenahealth is used by over 160,000 medical providers and 106 million patients, including over 50,000 physicians working for hospitals, health systems, and emerging care delivery units of University Hospitals, Baptist Health System, Wright State Physicians, Valley Medical Group, Carolina, Health Specialists, Hudson Headwaters Health Network, Community Health Systems, and CVS MinuteClinic as well as independent medical groups and solo physician practices.

Athenahealth's recent customer wins include New York-Presbyterian, Trinity Health, CareWell Urgent Care, the University of Alabama at Birmingham, Beth Israel Deaconess Healthcare, Florida Cancer Specialists. Over 72,000 providers are using athenaCollector, athenaClinicals is used by more than 30,000 providers, while the athenaCommunicator is used by more than 50,000 providers and finally he athenaCoordinator is used by 9,000 healthcare providers.

athenahealth Market Opportunities, M&A and Geo Expansions

In June 2020 athenahealth unveiled athenaTelehealth, a new embedded offering that empowers healthcare providers to seamlessly conduct telemedicine visits with their patients. The embedded functionality – available at no additional cost to athenaOne customers until September 30, 2020 – enables practitioners to easily conduct telehealth visits that comply with HIPAA and move efficiently through workflows, from scheduling to patient messaging, video conferencing, simultaneous encounter documentation, and billing.

As stay-at-home orders and fear of exposure to coronavirus took root, government deregulation and high patient demand led to a surge in telehealth appointments. The athenahealth network saw a 3400% overall increase in daily telehealth visits from mid-February to late April. Applying its adaptable technology and cloud-based architecture, athenahealth quickly developed athenaTelehealth to allow its customers to meaningfully engage patients and deliver needed care with telemedicine visits. The solution enables video conferencing within athenaOne, allowing providers to examine patients while updating their chart in real-time and empowering them to increase visit volumes and financial performance.

Virence Health (“Virence”), the former GE Healthcare Value-based Care assets that Veritas acquired in 2018, will combine with Athenahealth under the Athenahealth name and brand. The combined company will be led by Virence Chairman and Chief Executive Officer Bob Segert.

As part of the transaction, Virence's Workforce Management business becomes a separate Veritas portfolio company under the API Healthcare brand. The combination of Athenahealth and Virence brings together two innovative companies with complementary expertise and a shared focus and passion for improving healthcare outcomes. With a network of over 160,000 providers, the combined company is positioned for future growth and new market opportunities and has the necessary scale to make a transformational impact in the healthcare industry.

athenahealth Risks and Challenges

Like most EHR technology vendors, the key for Athenahealth is to start leveraging the huge amount of medical data that touch its Cloud applications, while searching for better ways for medical professionals to generate better insights into the data repository. As Athenahealth continues to expand, it is fighting a host of incumbents that have established long-term contracts with IDNs, some of which may have more incentives to standardize and extend their existing platforms to new areas like Electronic Health Records. That could prevent Athenahealth from expanding in one of the most strategic markets. Athenahealth’s ability to grow the installed base of its EHR customers has been modest, but it expects its new order-based pricing will prove to be popular among new EHR customers. Currently, athenaCollector, Athenahealth’s Revenue Cycle Management offering, accounts for the bulk of its installed base.

Another challenge facing Athenahealth lies with the need to better integrate its recent acquisitions. Proxsys had to be rewritten, while HDS with its limited installed base would be positioned for interfacing with existing systems like EHR for both US and international users.

The risk is whether Athenahealth should target healthcare providers outside the United States where it has a limited presence. The company is focused on delivering curated drug and other content to health care providers over this channel, as well as enabling advanced levels of care coordination (via AAthenahealth’s recently announced athenaText app – a fully integrated, secure text messaging for use by care teams across their mobile phone and EHR).

Athenahealth could lean on Virence's services to ease providers' transition to VBC. The vast majority(79%) of US providers have a negative outlook on VBC, partly due to being overburdened by the time it takes to use EHRs to comply with data-reporting standards. Consolidating with Virence could allow Athenahealth to build out its EHR platform with a suite of VBC services, making its platform more valuable to healthcare providers.

athenahealth Ecosystem, Partners, Resellers and SI

In May 2020, athenahealth, Inc. and Nuance Communications, Inc. have an expansion of their strategic collaboration to include the integration of Nuance’s cloud-based Dragon Medical, bringing speech and virtual assistant technology into the athenaOne EHR and Mobile App. By leveraging the power of Nuance’s conversational AI platform, athenaOne Dictation users can take advantage of fully integrated, voice-driven capabilities that help clinicians reduce documentation time and burden in an effort to improve patient experiences.

Athenahealth organized their sales force into two segments for sales of Athenahealth-branded services to better address their clients’ needs and their markets: the enterprise team, which is dedicated to serving community hospitals, regional and national health systems, payers, and integrated healthcare enterprises; and the independent medical group team, which is dedicated to independent medical practices of all sizes. Athenahealth also has pharmaceutical sales teams dedicated to sales of their Epocrates-branded services for pharmaceutical and other institutional clients.

In addition to their direct sales force, Athenahealth maintains business relationships with third parties that promote or support their sales or services within specific industries or geographic regions. These channel partners typically do not make direct sales. Other channel relationships permit third parties to act as independent marketing representatives, purchasing agents (as in the case of group purchasing organizations), or in other joint marketing capacities. In some instances, the channel relationship involves endorsement or promotion of their services by these third parties. Among its resellers are Humana Inc., Pedsal, and WorldMed Shared Services, Inc.

It has strategic partnerships with Dell, Dymo, Falcon EHR, MedOasis, Transworld Systems, Agilence, DoctorsManagement, LBMC eHealth Solutions, FGMK, Halley Consulting Group, Lone Star MSO, Paragon Health, Physicians Professional Billing, First Databank, Healthwise, and MedAssets.

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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).

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