Athenahealth’s Shares Up As Software Wins Physicians’ Approval

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Shares of Athenahealth Inc. (NASDAQ:ATHN) experienced a jump on Friday after the company posted fourth-quarter results that exceeded the Wall Street Journal’s predictions, NBC News reports.

The Watertown, Massachusetts based company is one of the largest to make online health-record and medical-practice billing software and has a growing following amongst physicians; it’s network of doctors has ballooned by 28 percent. As a result of the its expanding network, the company’s shares shot up 14 percent in extended trading on Thursday, per Reuters.

Athenahealth‘s products include its billing product, athenaCollector, its practice-management software, athenaClinicals, as well as its athenaCommunicator software which streamlines physician and patient communication. Athenahealth also bought the mobile medical application business known as Epocrates in March which contributed 18.9 million to the company’s revenue.

Athenahleath has reported that its net income rose to $13.1 million, or 34 cents a share, from $5.9 million, or 16 cents a share in the fourth-quarter; Athenahealth’s revenue surged 48 percent to $171.6 million. Analysts were expecting a net income of approximately 44 cents a share on $168.4 million in revenue.

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