Medical Information Technology ( Meditech ) Essay

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Medical Information Technology (MediTech) is a privately held company, which holds approximately 19% of the hospital electronic health record (EHR) market share in the United States (Rouse, M). In 2015, the company 's combination of products and service revenues were $475.5 million, and in that year MediTech employed nearly 3,750 workers, as detailed in publicly available financial reports. MediTech products have been widespread among midsize hospitals and other settings whose budgets are not big enough to afford EHRs sold by leading competitors. MediTech started back in 1966 when A. Neil Pappalardo began assisting with the development of the Massachusetts General Hospital Utility Multi-Programming System (Rouse, M). Pappalardo programmed language at that medical center’s computer lab. In 1969 Pappalardo founded MediTech, when MUMPS became commercially available. Pappalardo acts as MediTech’s chairman and is navigating the company through challenging times. In 2009, when Obama administration launched the electronic health records incentive programs, this provided incentive payments to hospitals and physician offices that executed electronic health records and demonstrated significant use. In 2012, MediTech saw its revenues increase to its maximum level of $597.8 million. However, revenue has decreased from 2013 through 2015 as of this writing. According to company records, the declines were primarily due to lower product bookings (Rouse, M). The Westwood, Mass.-based
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