Word: scription
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Dates: during 2000-2009
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...says Larry Feinberg, health-care hedge-fund manager at Oracle Partners. WebMD lost $246 million last year, despite more than doubling revenues, to $517 million. But the loss was smaller than anticipated, and it expects to turn a profit later this year. To compete with Allscripts and other e-scription players, Wygod is racing to roll out his own portable platform. He just inked a deal to be the primary content provider for Microsoft's MSN service...
WebMD's strategy might ultimately force a consolidation within the industry. Most e-scription start-ups, once flush with venture capital, are on the block, looking to be acquired or to align with bigger fish that can offer womb-to-tomb IT solutions. IBM's new venture will probably be a buyer, and Allscripts already has a deal with IDX, whose own back-office, practice-management system is used by more than 100,00 doctors. "This whole industry is so fragmented," says Wygod. "In order to make it more efficient, you can't have so many different players." Wygod just...