Tuesday, November 1, 2011

AthenaHealth Network

Exhibit 1: AthenaHealth Balance sheet

Exhibit 2: AthenaHealth Income Statement

Exhibit 3: AthenaHealth Network connections

Exhibit 4: Overview of Athena's extensive Network Connections



AthenaHealth offers an integrated practice management, physician billing and electronic health record services. The company’s financial data shows a 30.2% revenue growth and a 34% increase in stock holder’s equity in 2010. Both indices have been growing for the past five years. (Exhibits 1 and 2)

The company is offering cloud based business and clinical services for physicians and practitioners. Service offerings are based on web native practice management, EHR software, a continuously updated payer knowledge- based and integrated back- office service operations. Clients are operating in 47 different states and in the District of Columbia.

Its main products are:
· Athena Collector: Athena’s physician billing and practice management service.
· Athena Clinical: Certified electronic health records service offerings.
· Athena Communicator: Web based service for managing various patient communications.

Current position in the sector:

Although there are several definitions for the market of healthcare information technology, the total market was, approximately, 39.5$ billion in 2008 and is projected to grow to 54.8$ billion by 2014. In 2010, Athena Health generated revenues of 245.5$ M and the estimated market, for its services, was about 28.4$ billions. Each of its products has its own position in the market. For example, Athena Collector was ranked first or second in several ambulatory and billing scheduling categories.

Analysis of the current position should be associated with some insights about the competitors. Most of the competition comes from locally installed software to manage revenue and clinical cycle workflow in the different clinics. Competitors include:
· GE Healthcare: with 17 billion in sales in 2009
· Allscripts-Misys Healthcare Solutions
· Siemens medical solution.
· Cerner Corporation.
All these firms offer either revenue cycle management “RCM” or EHR or both. In addition, they offer devices and related medical products. There are some other pure healthcare information technology firms like:
· Eclipsys
· Quality systems

Current map of network:

Athena’s business model is based on playing an intermediary role between the different players on the industry including; providers, distributors, healthcare information technology vendors, group purchasing organizations, healthcare consultants and accountants, healthcare service organizations, societies associations, physician organizations and healthcare content partners.

This network diagram (Exhibits 3 and 4) shows Athena’s interactions with some of its partners. It gives an idea about this complicated network. It is worth knowing that 31,675 medical providers are living in Athena and the number is, constantly, increasing. For example, two new providers joined Athena’s network in the 20th of October.

AthenaHealth, which lies in the middle of this complicated network diagram, which includes 31 partnerships and strategic alliances, uses its relations to exert more control over its value chain and to offer more convenience to its customers in the era of smart devices and cloud computing.


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