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Patientline: In Need of Financial Treatment

As a follow-up to a previous article I wrote on the business practices of Patientline – the company who almost entirely control the in-hospital communications system for patients – you may be interested in some recent developments.

Yesterday, the company’s preliminary financial results for 2007 were released and they were, unsurprisingly, rather disappointing. On this news, their shares fell almost 50% to 2.07p from 4.10p six hours earlier.

A company statement released with these preliminary results was quick to point the finger too. The following quote is from The Register’s article, Patientline Results Prompt Share Meltdown:

Revenue per terminal per day fell 6.4 per cent to £1.62, this figure has been falling for the last three years. The company blames deflation in telecoms charges, reduced treatment times and more use of mobile phones for the fall. The statement further noted: “The NHS ethos is antipathetic to the very idea of patients being charged for anything in hospital.” Revenues have been further hit by “The failure by Trusts to generally adopt Electronic Patient Records…”

I won’t comment further on this, but if you want to hear more, you can do worse than checking out the comments on The Register’s article and Peter Troy’s site.