Meditech (Medical Information Technology Inc.)
Meditech (Medical Information Technology Inc.)
Meditech: Revolutionizing Healthcare Information Technology
Meditech (Medical Information Technology, Inc.) is a leading provider of health information technology solutions, serving over 2,400 healthcare facilities across the United States, Canada, and the United Kingdom.
This privately-held company commands approximately 19% of the hospital electronic health record (EHR) market share in the U.S., according to esteemed research firm peer60. In 2015, Meditech’s combined product and service revenues soared to $475.5 million, with a workforce of nearly 3,750 employees, as disclosed in publicly available financial reports.
Meditech’s offerings have gained traction among midsize hospitals and similar settings with budgetary constraints that preclude investment in EHRs offered by industry giants like Epic Systems Corp. and Cerner Corp.
The company’s roots trace back to 1966 when A. Neil Pappalardo began contributing to the development of the Massachusetts General Hospital Utility Multi-Programming System (MUMPS) programming language at the medical center’s computer lab. Subsequently, in 1969, Pappalardo established Meditech upon the commercial availability of MUMPS.
Presently, Pappalardo assumes the role of Chairman at Meditech, guiding the company through a competitive landscape. Meditech contends with formidable rivals such as Epic, Cerner, McKesson Corp., and CPSI. The advent of the Electronic Health Records Incentive Programs in 2009, under the Obama administration, propelled Meditech’s revenue to its zenith of $597.8 million in 2012. However, revenue witnessed a downward trajectory from 2013 to 2015, primarily attributed to diminished product bookings, according to company records.
Headquartered in Westwood, Massachusetts, Meditech offers an extensive array of clinical and administrative applications, seamlessly integrated with its flagship web-based EHR product, currently at version 6.1. The company’s technology caters to over 100 million patients across various healthcare settings, including hospitals, ambulatory centers, home care, hospice, long-term care facilities, and behavioral health sites.
Meditech’s EHR encompasses a spectrum of healthcare business functions, including revenue cycle management, population health management, mobile-based physician rounding, readmissions data tracking, medication reconciliation, and telehealth monitoring for home-based patients.
Meditech stands as a beacon of innovation, continually striving to enhance healthcare delivery through cutting-edge technology and unwavering commitment to excellence.
