KELOWNA, BC – QHR Corp., a leader in the healthcare information technology sector, is pleased to announce the appointment of Mr. Michael Checkley (pictured) to President of both QHR Corporation and its wholly owned operating subsidiary, QHR Technologies Inc. Mr. Checkley, who has been with the Company in an executive capacity for over ten years, was promoted from the position of Senior Vice President, Products and Technology.
“I’m very pleased to announce Mike Checkley’s appointment as President. Mike has been involved with our core EMR products and strategy since 2004 when we acquired the Accuro EMR product and has provided inspired leadership in all areas of our business, including product development, sales, and customer service,” said CEO Al Hildebrandt, who has recently announced that he will retire at the company’s annual meeting.
“Mike is very committed and a proven operator, who will help QHR build on the strengths of our core Canadian business.”
On April 22, 2015 the Company announced a comprehensive review of its product strategy and market opportunities. This review has confirmed that the company’s underperforming Billing Services, Clearinghouse, Tradelink EDI, and related services products, lack strategic value and should be sold or wound down in the near future.
QHR believes that this primarily US business and client base will be of value to an organization that is already in the business of US Revenue Cycle Management, Clearinghouse, and/or Billing Services (RCM), and it has decided to provide limited support to the division during a near term transition to sell the RCM assets.
In addition, QHR is announcing an internal restructuring of the company in order to focus the organization and increase profitability by reducing costs. To complete the disposition of the RCM Assets in a timely fashion, and to pay for related management and staff restructuring costs, QHR anticipates that it will incur one-time cash outlay in the range of $1.6 to $2.0 million.
QHR is restructuring in order to increase focus on, and investment opportunities in, its core Electronic Medical Records (EMR) business, predominantly in the Canadian market. The company will also take a non-cash impairment charge for intangibles and goodwill of a maximum $2.6 million which would be lowered by any amounts received from the sale of the RCM Assets.
This restructuring is expected to achieve $1.6 to $2.0 million in annualized cost savings, beginning in the second half of 2015. The company expects to see the positive impact in profitability beginning in Q3 of 2015.
“I believe our customers, shareholders, and supporters will celebrate this focus to our core healthcare technology strategy,” said Mr. Checkley. “Our strategy has always been to focus on our customers, empowering them to be more efficient, and drive positive outcomes through good, meaningful data. With this improved focus, we will fuse our technologies together, embedding and expanding products for our existing and prospective customer base. These tools include Medeo Virtual Care for online visits, Online Appointment Booking, and physician-controlled patient access to their medical records.”
About QHR Corporation
QHR is a leader in healthcare technology, empowering providers and connecting patients. With an 11-year track record offering what is now the single leading Electronic Medical Records platform in Canada, QHR has a suite of complementary offerings that empower health professionals and drive the company’s growth. The company’s technologies and services enable secure medical records management for clinical environments; they empower health providers with tools for virtual care including secure video and messaging, and tools for clinic management including scheduling, billing, and patient management. Health providers choose QHR to drive efficiencies within their practice and improve the quality of care delivered to patients.