posted
Opinions, please. And don't hold back - good or bad. Zixi - e-prescription, security, etc. At its lowest - around $1.20. Great idea - saves doctors time and money. Awful management - had a terrible CEO who was recently booted. New CEO - Rick Spurr - started in February. Last week they announced an 18 million private placement for cash flow. Stock went down. But they are partnered with an eRx Collaborative in Massachusetts. Article below. So, what say you?
Pharmacy News Article
4/11/06 - eRx Collaborative Extends DrFirst E-Prescribing Program to Additional 400 Eligible Physicians; Prescription drug management solution successful in first year
Business Wire via NewsEdge Corporation :
ROCKVILLE, Md.--(BUSINESS WIRE)--April 11, 2006--Following the successful rollout of DrFirst Rcopia electronic prescribing in 2005, the eRx Collaborative has expanded its program with DrFirst to provide Rcopia and handheld devices to an additional 400 providers in Massachusetts. The eRx Collaborative will also continue to pay software licensing fees for providers using Rcopia who have met certain eligibility criteria for a second year.
In January 2005, the eRx Collaborative engaged DrFirst as an additional e-prescribing vendor to the existing collaboration between Blue Cross Blue Shield of Massachusetts (BCBSMA), Tufts Health Plan, Neighborhood Health Plan and Zix Corporation. The eRx Collaborative provided funding to 750 providers for Rcopia e-prescribing, handheld devices, wireless routers, and six months of high-speed internet. In 2005 alone, more than 2.6 million prescriptions were transmitted electronically through the eRx Collaborative. By the end of 2005, more than 300,000 prescriptions were being transmitted per month, with a record high of more than 80,000 prescriptions in a single week. This represents a 136 percent increase throughout the year and a fourfold increase from the previous year.
"DrFirst is very pleased to continue our partnership with the eRx Collaborative," said G. Cameron Deemer, Senior Vice President and General Manager of DrFirst. "We believe our joint efforts will make a significant contribution to establishing electronic prescribing as a significant part of health information exchange which can markedly improve healthcare delivery in communities across Massachusetts."
The program, aimed at improving patient safety has resulted in better formulary compliance, avoidance of adverse drug events (ADEs), and avoidance of incorrect fills at the pharmacy. The eRx Collaborative announced that by year end 2005, more than 4,000 potentially harmful prescriptions were changed each month as a result of alerts issued by the electronic prescribing applications.
Along with improvements in safety came improvements in cost. "Based on Blue Cross Blue Shield of Massachusetts (BCBSMA) actuarial analysis, there is a strong indication that physicians who write a significant number of scripts electronically shift their prescribing behavior," said Vincent Plourde, Vice President of Provider Services at BCBSMA.
"These users prescribed according to the drug formulary more than non-e-prescribers, translating into a 1.5 percent drug cost savings on their new prescriptions and subsequent refills. It is also estimated that members seeing an e-prescriber who changes their prescription to a lower tier drug prompted by a formulary message can save an average of $20 to $25 per prescription."
Dr. Allen Hinkle, Chief Medical Officer at Tufts Health Plan, said, "Electronic prescribing has broad implications to improve the quality and efficiency of care. In addition to encouraging the use of lower tier drugs, e-prescribing has proven to reduce the volume of fax and paperwork between physician offices and pharmacies."
About DrFirst
DrFirst is a healthcare information technology provider and the creator of DrFirst Rcopia, the award-winning electronic prescription management system. DrFirst is committed to improving healthcare by delivering technologies and programs that enable medical professionals and their staffs to quickly and easily create and access critical medical information at the point of care. Working nationwide, DrFirst provides workflow, cost-containment, and information solutions to physicians, physician organizations, hospitals, health systems, health plans, and employers. More information about DrFirst can be found at www.drfirst.com
About the eRx Collaborative
Blue Cross Blue Shield of Massachusetts (BCBSMA), Tufts Health Plan, Neighborhood Health Plan, Zix Corporation and DrFirst have formed a collaboration to offer physicians a comprehensive e-prescribing program. The program is expected to improve patient safety and reduce medical costs.
Posts: 120 | From: New York | Registered: Feb 2005
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looks good but im not sure when a good time is to catch a swing. I may interst my self in this for a long term play as I am with achm.
Posts: 332 | Registered: Jun 2005
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posted
Yeah, that's the thing, Amanick. I got in a little too early and it went down some from that point. I don't think it's going to go any lower than it is now but I could be wrong. The rumor is that they have 2 big deals in the making and are just waiting for everything to be finalzed before announcing it. They are giving their quarterly report on May 9th. I think it's going to take off before then though.
Posts: 120 | From: New York | Registered: Feb 2005
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posted
I hope so, Abram. I didn't think it would stay down as long as it has. This week should see some action.
Posts: 120 | From: New York | Registered: Feb 2005
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posted
Hey Abram, you around? What's going on with that damn zixi? They roped in Texas Blue Cross/Shield recently and just nailed North Carolina's Blue Cross. What's it gonna take for this thing to move?
By the way, this is some of the better advice I've heard:
"MUST always remember why I boughta stock and not to buy into other people negativity because their impatience allowed them to talk theirselves into a loss."
Posts: 120 | From: New York | Registered: Feb 2005
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posted
I'm impressed! Not by the stock drop , but by the coming unavoidable rise in share price later this year if not sooner. After digesting the recent filing , it shows an impressive return after getting rid of some things from last year. With the health care division rise , I'm surprised this didn't didn't also take off. I think this dead cat bounce might last a couple weeks but it could last longer. I'm pretty much keepping my QSII and some cash in the barrel.
I hope you didn't take a loss Ladybird. This will be coming back with a vengence. That's my opinion.
-------------------- TI AKERS , WHERE ARE YOU!!! Posts: 899 | From: FT. Wayne to Raleigh-1986 | Registered: Feb 2003
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Abram, take a loss? Why do you think I quoted you above? LOL. I held. I've felt from the beginning that this stock was under the radar and would take off eventually. I bought more at $1.05. But you do start second guessing yourself when the damn thing won't move. So thanks for the response. It's encouraging.
Posts: 120 | From: New York | Registered: Feb 2005
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posted
I've decided to go long on this, pk, so I'm not sure. Right now zixi is making money on its encryption email but it's burning money trying to establish the e-prescription side of the business. The CEO, Spurr, said they won't start making money with that until 07. But, man, they are signing up the clientele with states carrying Blue Cross/Blue Shield. They have a seminar somewhere in the U.S. every freakin week. Check out their website.
They've had mismanagement in the past but now it looks like they are focused on cutting costs and positioning themselves to be a forerunner in this new area of health care. That's how it looks to me, anyway. On the other hand, I know this stock has been shorted like h*ll recently. As always do your own DD and good luck!
Posts: 120 | From: New York | Registered: Feb 2005
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