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Looks bad for competitor-looks good for Medify:
Press reports question future roles of iSoft and Accenture
29 Aug 2006
Weekend press reports raised further questions over the future shape of the NHS National Programme for IT and the long term involvement of key software contractor iSoft, together with raising questions over the future involvement of consulting giant Accenture.
The Department of Health has said that the NHS IT programme is not in jeopardy or at risk of stalling - despite the core electronic patient record systems running two years late, and the huge financial losses of sub-contractors iSoft, which on Friday posted qualified accounts showing losses of £382m.
In a Friday statement, the DH said: "The NHS IT programme is not at risk of stalling, in jeopardy or close to collapsing because of iSoft's recent troubles. It [iSoft] confirmed that it will make its new software through 2008 - so in no way is the programme at risk."
Last week iSoft also admitted that it was being investigated by the Financial Services Authority for accounting irregularities after problems had been found during an initial Deloitte investigation which led to commercial director Steve Graham being suspended earlier this month.
The company also revealed last week that it was in dispute with Accenture, which sub-contracted work to iSoft for the North-east and Eastern clusters of the NHS IT project – two of iSoft’s three key NHS contracts.
Quoted in the Telegraph yesterday iSoft Chairman John Weston said: “Accenture claims we have various breaches. We've not got a formal claim; there are exchanges of letters".
iSoft’s results revealed that CSC has also accused iSoft of being breach of contract in relation to delays, although no claims have yet been made and iSoft denies any liability.
Weekend press reports, including BBC Newsnight, meanwhile, reported the rumor that Accenture might be about to depart the programme either partly or wholly. A research note from Bridgewell, which is iSoft's broker, said: "There is still talk that Accenture is trying to get out of at least the secondary care part of its contract."
A spokesperson for Accenture told E-Health Insider: "We don't comment on press speciulation".
EHI sources indicate that Computer Sciences Corporation has been extremely bullish in recent weeks about the prospect of picking up additional work in the two Accenture clusters – through implementing legacy iSoft systems in acute trusts.
Intriguingly though, CSC’s current contract with NHS CfH for the North-west and West Midlands is thought to have omitted primary care.
As part of its new agreement with iSoft, also announced on Friday, CSC will take over management of seven existing iSoft sites - implemented pre-NPfIT. Under the agreement CSC can now take direct management of iSoft’s software development is the company continues to fail to deliver.
The Sunday Times, meanwhile reported at the weekend that both CSC and BT are examining a potential purchase of iSoft, with CSC said to be “running the rule” over the Manchester-based company, although it is not yet clear if either will end up bidding.
Further industry reports indicate that the new financing arrangements for iSoft are short-term. One analyst spoken to by EHI said that the new financial arrangements were strictly short-term, sustainable for no more than 15-months. The analyst predicted that iSoft would still require an £80m-£100m rights issue.
Commenting on iSoft’s Friday announcements Paul Farrelly, Labour MP for Newcastle-under-Lyme, said: “From iSoft's results announcement... it was quite clear that question marks remain over the future viability of the company."
© 2006 E-HEALTH-MEDIA LTD. ALL RIGHTS RESERVED
Thanks Doc, it's always a pleasure to talk to you!
Doc, next time my doc tells me something I'll ask for another 3 to 6 docs more for vote. It'll make me feel better.LOL
Doc, are you sure that you are a doc not a salesman? LOL
Lem, don't forget Bamby who is especially good during down time
Would love to see it!!!
May be we should ask her to find our divy?
Lem, I send Bambi to one of my friends who send her to Russia.
She is International Star now since every strip club over there as I was told is trying to copy her act.
GO Bambi GO and of course Jonathan too.
JB, how about the 1st MF'ers annual meeting next year?
I wouldn't miss that fun!
And who is JB? The Father of all MF'ers?
Interest, ANYTHING positive at all?
I know where is my place and I don't see you nearby.
Herbie, I don't think Medify or any other company here have to be defended by loyal investors. Medify has to start to defend itself by giving complete and accurate information to investors. Than we wouldn't play the guesing game and wouldn't be disappointed.
Please read my post again. I explained very clear why I'm still in this stock and still taking my chances with Medify.
I still hope that reward is outweighting risk in this one. Why are you in this stock? In your place I wouldn't.
I don't think Medify claimed anything in USA, I don't think they have a chance. Thare are a few established companies working on it for a long time now. Unfortunately IMHO they are still misleading on many items, and it's impossible to be even 50% sure about anything and this company. But even with all that stuff IMHO this company is giving us one of the better chances in pinkies. The most of the pinkies are complete BS, so this is the chance I'm willing to take. GOOD LUCK TO ALL.
If everything goes in the right way my target is 15c by the end of next year. IMHO
Simple and smart!
Herbie, agree with you on major points. Very impressed with Ian's interview. If you listen very closely you can get many details on what is going on with the company. Also very inline with last e-mail I got from JB. Think that 10k users will get us to $1 and to ED.
Congrats Turpinator, but it's all Greek for me. May be in some other life...
Lem, you choused all the great songs!
Tomorrow is 30 years for me living in this beatiful country.
GOD BLESS AMERICA AND AMERICANS!!!
Will always THANK YOU for taking me in till the day I die.
GO JONATHAN GO!!! GOOD LUCK TO US ALL!
Tjak, as soon as it will make more sense, when income situation is more clear and PPS is much higher. Could be within next Mo.IMHO
Just listened to Ian's interview. In conjunction to the latest e-mail from JB he is (Ian) probably right as far as no competition for Medify for now. Being a very critical person by nature myself I was very impressed with the interview. Very straightforward, much more clear on where they are now and where they are going to. Makes me feel very optimistic for the company's future and myself's.
For someone who missed my post # 7951:
Something very interesting:
'No believable plan' for completion of iSoft Lorenzo
21 Aug 2006
A confidential review of iSoft's release schedule has revealed that there are no immediate prospects for the completion and delivery of the Lorenzo electronic patient record software, the key patient software for three out of five regions of the £12.4bn NHS IT programme.
The EPR was first meant to be delivered to two-thirds of the NHS starting from 2004. Now, the earliest date that the first hospitals are due to get the Lorenzo system is 2008 – a schedule that has repeatedly slipped by 300%.
The document, which was produced by iSoft’s prime contractors Computer Sciences Corporation and Accenture, claims there remains no credible release schedule and the clinical safety of the product is a critical concern. It is highly critical of iSoft and the Lorenzo product, which iSoft has in annual reports described as being available since 2004.
According to the Guardian, an analysis of the “deliverability and fitness for purpose” of iSoft’s Lorenzo clinical software concluded that there is “no believable plan for delivery” for the next generation clinical software product.
To add to the confusion, both the company and CfH refer to recent NHS Connecting for Health (CfH) implementations of its older iPM patient administration product – with limited elements of the new Lorenzo system - for CSC in the North-west and West Midlands as ‘Lorenzo’ sites.
But beyond a basic version of Lorenzo that had been tailored for GPs, the CSC/Accenture review found “there is no well-defined scope and therefore no believable plan for releases.”
The Guardian reports that iSoft had sent the review’s authors a series of release dates for different versions of Lorenzo and said the final, fully functional version would not be available until the second quarter of 2008.
“These releases must be viewed as ‘indicative at best’ and are likely to be highly optimistic,” the report concludes.
There are 39 outstanding issues relating to Lorenzo, 13 of which it identifies as red - requiring immediate work.
Among these critical concerns were clinical safety and iSoft’s ability to plan and estimate how long its software development would take.
There was “no evidence for the development, nor testing of, technical procedures that would be required for operation and maintenance of the system… this is the main risk to the successful delivery of a fit-for-purpose system.”
In a statement to E-health Insider iSoft confirmed that a joint reveiw had been undetraken by CSC and Accenture. "Following this it was agreed that Lorenzo had significant potential as a strategic solution for the NHS, and broadly the solution aligned to NPfIT functional requirements." iSoft added: "Since then, a joint action plan was prepared and has been implemented."
A spokesperson for CSC said: "As an integral part of this plan, CSC has seconded a substantial number of staff to work with iSoft on the further development of Lorenzo and enhance the end-to-end development process. That collaboration has been working extremely well and CSC have reaffirmed their commitment to working together with iSoft."
An Accenture spokesperson said: “The joint report by CSC and Accenture was conducted in February 2006 and focused on assessing the status of the development process and developing a course forward for iSoft’s Lorenzo product. Since that time Accenture, NHS CFH, CSC and iSoft have worked together to enhance the development process.”
Accenture and CSC are the prime contractors to the CfH programme, responsible for managing the delivery of sub-contractors such as iSoft. In March Accenture made $450m provision for losses against its two CfH contracts, partly citing delivery delays from iSoft. In July Accenture’s chief executive indicated the company was examining alternative software suppliers.
© 2006 E-HEALTH-MEDIA LTD. ALL RIGHTS RESERVED.
Just wanted to share with you as always:
Solidgold,
Thanks for the e-mail and you are absolutely correct.
Lorenzo is the only direct competitor of Medify. Thus the news that Lorenzo and thus iSoft have been held back means we have a clear and free run into the market. It is astonishing that this news comes out just before we roll out nationally and if it were planned then this couldn't have been more perfect!
Due to the structure of the NHS, Medify has positioned itself so that it can run, deliver and bring in revenues irrespective of the timelines being adopted. Due to our EMIS contract (non-exclusive but we are the only company to have a mobile access contract with EMIS) we are self sufficient. Therefore we do not and will not suffer form the huge losses due to delay as experienced by CSC, Accenture and iSoft operating in the NHS.
So this is very very good news, our competition has riled itself out of the game, the timing could not be better and we roll out in 6 days.
The next 4 weeks will demonstrate, prove and more importantly deliver long term significant revenue publicly. Thanks for your support and keep in there your decision to be an investor will be proven to be correct.
Jonathan
There is no independent conformation on almost anything with Medify. So we got in it, we eat it and we can only pray.
Clancy, I asked him all these questions yesterday. Nothing by now. May be he doesn't like me anymore, but I'm a straightforward guy who wishes him well.
I hope it is the 1st. Just send this question to JB, but he was very quiet lately.
Something very interesting:
'No believable plan' for completion of iSoft Lorenzo
21 Aug 2006
A confidential review of iSoft's release schedule has revealed that there are no immediate prospects for the completion and delivery of the Lorenzo electronic patient record software, the key patient software for three out of five regions of the £12.4bn NHS IT programme.
The EPR was first meant to be delivered to two-thirds of the NHS starting from 2004. Now, the earliest date that the first hospitals are due to get the Lorenzo system is 2008 – a schedule that has repeatedly slipped by 300%.
The document, which was produced by iSoft’s prime contractors Computer Sciences Corporation and Accenture, claims there remains no credible release schedule and the clinical safety of the product is a critical concern. It is highly critical of iSoft and the Lorenzo product, which iSoft has in annual reports described as being available since 2004.
According to the Guardian, an analysis of the “deliverability and fitness for purpose” of iSoft’s Lorenzo clinical software concluded that there is “no believable plan for delivery” for the next generation clinical software product.
To add to the confusion, both the company and CfH refer to recent NHS Connecting for Health (CfH) implementations of its older iPM patient administration product – with limited elements of the new Lorenzo system - for CSC in the North-west and West Midlands as ‘Lorenzo’ sites.
But beyond a basic version of Lorenzo that had been tailored for GPs, the CSC/Accenture review found “there is no well-defined scope and therefore no believable plan for releases.”
The Guardian reports that iSoft had sent the review’s authors a series of release dates for different versions of Lorenzo and said the final, fully functional version would not be available until the second quarter of 2008.
“These releases must be viewed as ‘indicative at best’ and are likely to be highly optimistic,” the report concludes.
There are 39 outstanding issues relating to Lorenzo, 13 of which it identifies as red - requiring immediate work.
Among these critical concerns were clinical safety and iSoft’s ability to plan and estimate how long its software development would take.
There was “no evidence for the development, nor testing of, technical procedures that would be required for operation and maintenance of the system… this is the main risk to the successful delivery of a fit-for-purpose system.”
In a statement to E-health Insider iSoft confirmed that a joint reveiw had been undetraken by CSC and Accenture. "Following this it was agreed that Lorenzo had significant potential as a strategic solution for the NHS, and broadly the solution aligned to NPfIT functional requirements." iSoft added: "Since then, a joint action plan was prepared and has been implemented."
A spokesperson for CSC said: "As an integral part of this plan, CSC has seconded a substantial number of staff to work with iSoft on the further development of Lorenzo and enhance the end-to-end development process. That collaboration has been working extremely well and CSC have reaffirmed their commitment to working together with iSoft."
An Accenture spokesperson said: “The joint report by CSC and Accenture was conducted in February 2006 and focused on assessing the status of the development process and developing a course forward for iSoft’s Lorenzo product. Since that time Accenture, NHS CFH, CSC and iSoft have worked together to enhance the development process.”
Accenture and CSC are the prime contractors to the CfH programme, responsible for managing the delivery of sub-contractors such as iSoft. In March Accenture made $450m provision for losses against its two CfH contracts, partly citing delivery delays from iSoft. In July Accenture’s chief executive indicated the company was examining alternative software suppliers.
© 2006 E-HEALTH-MEDIA LTD. ALL RIGHTS RESERVED.
Lem, would be happy to buy a couple of them for you one day.
Well said Dwudman. Doc, for you 6 days it is.
Lem, want to add my name to the " thank you" list for the great job you are doing at this board. Keep it up!
GO JONATHAN GO!!!
Thanks doc. I'll give you one more hour.
It's only 6 days left for "sooner". We need a meaningful PR to spark.
To my understanding JB had to repilot everything because of the usage of Medify system instead of a 3rd party one.
Beside that does anyone has any proof about first 20 units from none Medify source?
The 21st unit is coming. But it's only the rumor. Still could make it by Sept. 1, 200.. Unless JB will make it more clear to us all. Would you please?
I would call it like this just to get past 55c.
I would call it being a triple delighted.
We all came to pinkies to make some real money. They are very risky and far from being perfect including PRs and truth disclosers. But I still feel like with Medify we have a chance and it's a better one than with the most of them. One day we will found it out. Good luck to all. GO JOHNY GO!
Lem, would it be a nice device: each 1000 new subscribers automatically trigger icrease in PPS by $1?
Lem, the bar is open right now in Carmel, Ca and me and my wife are drinking for all of us 2004 Shiraz, The reserve Yellow Tail. Feeeeeeling gooood.