“Market Cap $19.43 B As of May 2014
At a Glance
- Industry: Healthcare Services
- Founded: 1979
- Country: United States
- CEO: Neal Patterson
- Website: www.cerner.com
- Employees: 14,200
- Sales: $2.91 B
- Headquarters: North Kansas City, Missouri
#1427 Global 2000
- #1402 in Profit
- #570 in Market value
#13 Innovative Companies (#14 in 2012)
Cerner Corp. is a supplier of health care information technology solutions, services, devices and hardware. Its solutions optimize processes and help eliminate errors, variance and waste for health care organizations ranging from single-doctor practices to entire countries, for the pharmaceutical and medical device industries, and for the field of health care as a whole. It designs and develops software solutions on the unified Cerner Millennium architecture, a person-centric computing framework, which combines clinical, financial and management information systems. This architecture allows providers to securely access an individual’s electronic health record at the point of care and it organizes and proactively delivers information to meet the specific needs of physicians, nurses, laboratory technicians, pharmacists, front and back-office professionals and consumers. The company also offers a broad range of services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, healthcare data analysis, clinical process optimization, transaction processing, employer health centers, employee wellness programs and third party administrator services for employer-based health plans. It operates through two operating segments: Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States. The Global segment includes revenue contributions and expenditures linked to business activity in Argentina, Aruba, Australia, Austria, Canada, Cayman Islands, Chile, China, Egypt, England, France, Germany, Guam, India, Ireland, Italy, Japan, Malaysia, Mexico, Morocco, Puerto Rico, Qatar, Saudi Arabia, Singapore, Spain, Sweden, Switzerland and the United Arab Emirates. The company was founded by Neal L. Patterson, Clifford W. Illig and Paul N. Gorup in 1979 and is headquartered in North Kansas City, MO.“
Cerner was founded in 1979 by Neal Patterson, Paul Gorup, and Cliff Illig, who were colleagues at Arthur Andersen. Its original name was PGI & Associates. It was renamed Cerner in 1984 when it rolled out its first system, PathNet. It went public in 1986. Cerner’s client base grew steadily in the late 1980s, reaching 70 sites in 1987, 120 sites in 1988, 170 sites in 1989, and reaching 250 sites in 1990. Installations were primarily of PathNet systems.
During this time, Cerner was developing components of a Health Network Architecture, an integrated IT system designed to automate health care processes. Clients could purchase individual components or the whole system at one time. By 1994, more than 30 clients had purchased the full HNA system, while 100 clients had purchased multiple components of the system.
Cerner began to expand globally in the 1990s as well, establishing presences in Australia, England, Canada, Singapore, Saudi Arabia and Germany during the decade.
In 1997, the company introduced Cerner Millennium, an upgrade to its HNA system which incorporated all of the company’s software offerings into one unified architecture. The introduction of Millennium contributed to significant growth for the company, with revenue increasing to $1.1 billion in 2005 from $245.1 million in 1997. Ten years after its introduction, in 2007, Millennium had been successfully implemented in more than 1,200 facilities worldwide.
Its products include PowerChart, based on the Cerner CCL programming language, and Millennium e-Booking, which is providing a code base for Choose and Book.
In July 2010, president Trace Devanny left the company.
“Devanny’s responsibilities will be absorbed by the current organization. Neal Patterson will become the company’s president, in addition to his current role as Cerner’s chairman and chief executive officer.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “CernerCorporation“