I can only speak from my experience of trying to use the Emis software to re order prescriptions....
it hasn't worked for weeks in my local practice, the admin staff think it is rubbish. I won't be buying
As you suggest, the NHS doesn't work in a rational manner.......think how long PSNC were banging at the DH door to get recognition that community pharmacies could help at the front line of primary care! Now it has been recognised, the emphasis is on cost effectiveness / savings for the NHS at the expense of the community payments.
EMIS must stay at the forefront of developments which integrate these newer community pharmacy services, the GPs and the PCGs / DH. In many ways, these developments / changes in contractual payments should benefit EMIS.
Would I buy? Not at the moment.....in fact not buying anything new at the moment as suspect there will be better opportunities across the board in the next 6 months. Just sitting on existing holdings and collecting divis.
I think anyone who uses the NHS is aware of the funding difficulties and these are being experienced by EMIS. However, the company says the results are expected to be in line with the board's expectation so as long as this means the same as market expectation, then it is not really a profit warning, but I would expect the negative tone of the statement to push the share price down a bit. Of course, many of EMIS's products/services are designed to reduce costs in the NHS so cost saving pressures should increase interest in the company's offerings, but I'm not sure that NHS works in such a rational manner! One of my reasons for investing in EMIS is that it is deeply embedded in the NHS in some areas and would be difficult to replace so this should limit the downside.
Thank you for posting a professsional view of Emis. This is valuable information to investors.
I can't really understand the last 6 months decline in share price since to a layman it looks an outstanding product. I assume that nearly all practices will have one of the four systems you described. Does this mean it is in effect a mature market as far as GPs are concerned with future growth depending on doctors being willing to change from their existingsystem to Emis ? I know most users of an existing computer system dread the thought of changing systems let alone doctors that will see this as just a tool and will not want to relearn a system. I know one gp friend of mine only retired because he disliked having to master and use a computer system.
EMIS Web is the predominant system nationally. It seems to be the least complained about on Doctors.net, which is VERY significant in my opinion.
INPS Vision is due a major refresh, and that appears to be forever delayed. We're struggling with speed to the point it's affecting our business. The other practice in the building run EMIS Web without issues.
TPP's SystemOne has gained a lot of users in the past few years, but it's much of a muchness in terms of the user experience at the front end, but support is lacking and they are dragging their heels on interoperability.
Microtest Evolution is a niche player, except in Cormwall where I believe it is dominant for some reason.
The GPSOC protocols allow GOP to choose their system, the cost of which is then covered by the NHS as it's the NHS that effectively 'owns the records'. Some local areas have done deals to move all practices to one system to aid joint working and streamline support and training - this has been good for those that did it.
I think, as a GP and a commissioner, that the electronic patient record (EPR) is the signle most important factor is sensible, service lead, change to the way we deliver care and switch from expensive, slow and un-responsive hospital care into efficient and responsive community delivered services. For example, less than 1% of a dermatologists' patients need to be seen in a hospital - they could be seen in community hubs a lot cheaper and more efficiently/quickly than in hospital. Tradition dictates that that's where patients are seen in out patients, and it adds hugely to the cost for no benefit to the patient. I think it's a hangover from the days of paper bundles of hospital notes needing to be kept in central locals.
It must all change in the near future, for everyone's benefit. I suspect EMIS will be at the forefront of this change because they have functioning market leading products that work and already exist and can be evolved/developed.
Well you have a different view to the practises I can relate to where the view is that the system leaves more than much to be desired, but options are very limited to the point of being almost non existent .
>>Value improving<< Sounds to me like a euphemism for continuously dropping shareprice :-)
However I do agree with your remarks but the six month drop from well over £11 to £8.61 with the lower profits reported last year do give cause for concern. It does seem to be an excellent product though with a market dominant position and with scope for growth.
Clawing back into small profit after unfortunate first purchase timing. Shame I messed up on the 1st purchase as it spoilt this recovery in price. Lucky I made the 2nd purchase to give me a change to get all square then small profit. If markets weaken I will be quickly out to re-visit a better average cost price.
Despite the pullback in January and the ongoing bear market in general, these shares continue to outperform the All Share Index by a country mile, showing persistent strength and the shares should be retained.
The 3 year chart indicates the continual growth story.
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