Watertown, Mass.-based athenahealth released its third quarter financial results, posting a 17 percent growth in revenue during Q3.
Here are five things to know about the health IT vendor's Q3 earnings.
1. Total revenue increased 17 percent between Q3 of 2015 and Q3 of 2016. For the three months ended Sept. 30, 2016, athenahealth posted a total revenue of $276.7 million, compared to the $236.1 million posted during the same period last year.
2. Total revenue rose 19 percent between the first three quarters of fiscal year 2015 and the first three quarters of FY 2016. For the first nine months of FY 2016, athenahealth reported $794.8 million in total revenue. During the same period in 2015, the company reported $667.2 million in total revenue.
3. The number of new physicians athenahealth added to its network during Q3 FY 2016 decreased 8.4 percent compared to Q3 FY 2015. For the three months ended Sept. 30, 2016, the company added 9,335 physicians to its network, compared to the 10,193 physicians added during the same period last year.
4. The number of new providers athenahealth added to its network during Q3 FY 2016 grew 0.94 percent compared to Q3 FY 2015. The health IT vendor added 12,414 providers during Q3 this year, compared to the 12,298 providers added during Q3 last year.
5. Athenahealth remains committed to its 2016 financial goals. The company expects its total revenue for the fiscal year ending Dec. 31, 2016 to fall between $1.085 billion and $1.115 billion.