Cerner Corporation (NASDAQ: CERN) is an international health care information technology corporation that specializes in providing complete systems for hospitals and other medical organizations to manage and integrate all electronic medical records, Computer physician order entry (CPOE) and financial information.[1]
Cerner claims to be the largest provider of electronic medical systems in the United States.[2][3] Its largest competitor, McKesson Corporation, is larger in size but McKesson has income from other non-technology medical sources.
As of Second Quarter 2009 its systems are licensed by 8,000 facilities around the world including 2,100 hospitals, 1,500 pharmacies and 3,300 physician practices representing 30,000 physicians.[4]
It has more than 8,200 employees. As of June 2006, approximately 1,900 associates in the United States and 600 associates in India were involved full-time in the software development aspect of the company. Cerner has more than 6,000 clients worldwide.
Cerner Learning Manager is a learning management system that will help you plan and manage learning events for your healthcare staff, as well as document, track and assess organizational and individual education and training.
Assign, deliver, and monitor education activities
The solution offers important features and functions that will serve your entire workforce. Users can create an online catalog of scheduled training events and available eLearning solutions as well as organization-specific courses, curriculum and customized tests to monitor learning retention of your staff. The solution also will help you to:
Assign training curriculum to groups of employees based on role or position
Monitor completion of training events for each employee and view consolidated reports
Access individual learning records with the ability to export to a printable Microsoft Excel document
Search and self-enroll for instructor-led sessions or online training within the organization’s course catalog
Extract value from the system
Cerner Learning Manager provides a powerful, easy-to-use reporting function. With the Ad-Hoc Reporting Tool, you can report on virtually any data the system accumulates, save reports as templates and sharing among staff members effortlessly.
Additionally, Cerner Learning Manager system configuration provides your organization with:
Robust and intuitive user interface
Customized branding, including corporate banner, colors, and fonts
Customized notifications related to course cancellations and confirmation of enrollment
Customized roles or learning groups to meet your organization structure
Quick search capability
Learn from embedded healthcare education Cerner Learning Manager can help you manage and deliver all of your learning activities. Supporting the system are Cerner Healthcare Learning Libraries, with more than 900 courses available.
The libraries contain courses created by industry experts such as BridgeFront, HCPro, HFMA and Patient Education Institute. Library topics include: Annual Core Regulatories, Coding and Reimbursement Education, Revenue Cycle Education, Finance Education and Patient Education.
Access anytime, anywhere
You can access Cerner Learning Manager through your Internet browser, giving you anytime, anywhere access. Key Benefits
Improve productivity through online management of education and training
Create customizable learning reports
Deliver focused curriculums to learning groups
Improve employee retention and patient safety with just-in-time training
Retention
Greater resource alignment of staff with patient, equipment and beds
Improved staff satisfaction and retention
Increased delivery of safe, competent bedside care
Reduced labor costs by more effectively managing hours worked by staff
(a) Base Salary .
(i) For the period April 1, 2007 through September 30, 2007, the Executive shall receive salary of $1 payable in a lump sum upon completion of the Employment Period.
(ii) Beginning October 1, 2007 through the balance of the Employment Period, the Executive shall receive a gross monthly salary of $75,000 payable in a lump sum on the last business day of each month. The Company shall cease payment of the Executive’s monthly salary upon the expiration of the Employment Period. In the event the expiration of the Employment Period does not coincide with the last business day of the month, the Executive shall receive a pro rata lump sum payment based on the number of calendar days in the month occurring prior to the expiration of the Employment Period.
(b) Director Compensation . During the Employment Period, Executive shall not receive any compensation for his service on the Board.
(c) Annual & Long-Term Cash Bonuses . During the Employment Period, the Executive shall not be eligible to receive an annual or long-term cash bonus.
(d) Long-Term Equity Awards . The Executive shall receive grants of equity compensation awards pursuant to the Company’s Omnibus Incentive Plan of 2006 (the “ Incentive Plan ”) as set forth below.
(i) Initial Stock Option Grant . On the Effective Date, the Executive shall be granted an option (the “ Initial Stock Option ”) to purchase 250,000 shares of common stock of the Company (the “ Common Stock ”). The Initial Stock Option shall have:
(A) a per share exercise price equal to the closing price of a share of Common Stock on the date of grant as reported on the New York Stock Exchange – Composite Transactions in the Wall Street Journal, Midwest Edition (the “ Fair Market Value ”);
(B) a vesting schedule such that the Initial Stock Option will become exercisable in full on the first anniversary of the date of grant, provided that the Executive remains in the employ of the Company through September 30, 2007; and
(C) a ten-year term.
All the terms and conditions of the Initial Stock Option shall be subject to the terms of the Incentive Plan and the award agreement evidencing the grant of the Initial Stock Option.
Cerner continues to be committed to working closely with employers to bend the healthcare cost curve, improve health outcomes and achieve a high level of employee satisfaction,” said Zane Burke, Cerner senior vice president. “IMC Health Care has a tremendous record of delivering on-site healthcare services to its employer clients and we believe our strengths can be combined to uniquely fulfill these needs in the employer market.”
In an effort to better control healthcare costs, Cerner has been a self-insured corporation for more than 20 years and has a wholly-owned subsidiary that has served as its third-party administrator since 2006. In 2006, the company expanded its employer offerings and opened a primary care clinic on its world headquarters campus in Kansas City, Mo. Among services offered to Cerner employees and dependents are primary care services, pharmacy, chronic condition management and wellness programs, an electronic health record and secure messaging capabilities with providers.
Cerner claims to be the largest provider of electronic medical systems in the United States.[2][3] Its largest competitor, McKesson Corporation, is larger in size but McKesson has income from other non-technology medical sources.
As of Second Quarter 2009 its systems are licensed by 8,000 facilities around the world including 2,100 hospitals, 1,500 pharmacies and 3,300 physician practices representing 30,000 physicians.[4]
It has more than 8,200 employees. As of June 2006, approximately 1,900 associates in the United States and 600 associates in India were involved full-time in the software development aspect of the company. Cerner has more than 6,000 clients worldwide.
Cerner Learning Manager is a learning management system that will help you plan and manage learning events for your healthcare staff, as well as document, track and assess organizational and individual education and training.
Assign, deliver, and monitor education activities
The solution offers important features and functions that will serve your entire workforce. Users can create an online catalog of scheduled training events and available eLearning solutions as well as organization-specific courses, curriculum and customized tests to monitor learning retention of your staff. The solution also will help you to:
Assign training curriculum to groups of employees based on role or position
Monitor completion of training events for each employee and view consolidated reports
Access individual learning records with the ability to export to a printable Microsoft Excel document
Search and self-enroll for instructor-led sessions or online training within the organization’s course catalog
Extract value from the system
Cerner Learning Manager provides a powerful, easy-to-use reporting function. With the Ad-Hoc Reporting Tool, you can report on virtually any data the system accumulates, save reports as templates and sharing among staff members effortlessly.
Additionally, Cerner Learning Manager system configuration provides your organization with:
Robust and intuitive user interface
Customized branding, including corporate banner, colors, and fonts
Customized notifications related to course cancellations and confirmation of enrollment
Customized roles or learning groups to meet your organization structure
Quick search capability
Learn from embedded healthcare education Cerner Learning Manager can help you manage and deliver all of your learning activities. Supporting the system are Cerner Healthcare Learning Libraries, with more than 900 courses available.
The libraries contain courses created by industry experts such as BridgeFront, HCPro, HFMA and Patient Education Institute. Library topics include: Annual Core Regulatories, Coding and Reimbursement Education, Revenue Cycle Education, Finance Education and Patient Education.
Access anytime, anywhere
You can access Cerner Learning Manager through your Internet browser, giving you anytime, anywhere access. Key Benefits
Improve productivity through online management of education and training
Create customizable learning reports
Deliver focused curriculums to learning groups
Improve employee retention and patient safety with just-in-time training
Retention
Greater resource alignment of staff with patient, equipment and beds
Improved staff satisfaction and retention
Increased delivery of safe, competent bedside care
Reduced labor costs by more effectively managing hours worked by staff
(a) Base Salary .
(i) For the period April 1, 2007 through September 30, 2007, the Executive shall receive salary of $1 payable in a lump sum upon completion of the Employment Period.
(ii) Beginning October 1, 2007 through the balance of the Employment Period, the Executive shall receive a gross monthly salary of $75,000 payable in a lump sum on the last business day of each month. The Company shall cease payment of the Executive’s monthly salary upon the expiration of the Employment Period. In the event the expiration of the Employment Period does not coincide with the last business day of the month, the Executive shall receive a pro rata lump sum payment based on the number of calendar days in the month occurring prior to the expiration of the Employment Period.
(b) Director Compensation . During the Employment Period, Executive shall not receive any compensation for his service on the Board.
(c) Annual & Long-Term Cash Bonuses . During the Employment Period, the Executive shall not be eligible to receive an annual or long-term cash bonus.
(d) Long-Term Equity Awards . The Executive shall receive grants of equity compensation awards pursuant to the Company’s Omnibus Incentive Plan of 2006 (the “ Incentive Plan ”) as set forth below.
(i) Initial Stock Option Grant . On the Effective Date, the Executive shall be granted an option (the “ Initial Stock Option ”) to purchase 250,000 shares of common stock of the Company (the “ Common Stock ”). The Initial Stock Option shall have:
(A) a per share exercise price equal to the closing price of a share of Common Stock on the date of grant as reported on the New York Stock Exchange – Composite Transactions in the Wall Street Journal, Midwest Edition (the “ Fair Market Value ”);
(B) a vesting schedule such that the Initial Stock Option will become exercisable in full on the first anniversary of the date of grant, provided that the Executive remains in the employ of the Company through September 30, 2007; and
(C) a ten-year term.
All the terms and conditions of the Initial Stock Option shall be subject to the terms of the Incentive Plan and the award agreement evidencing the grant of the Initial Stock Option.
Cerner continues to be committed to working closely with employers to bend the healthcare cost curve, improve health outcomes and achieve a high level of employee satisfaction,” said Zane Burke, Cerner senior vice president. “IMC Health Care has a tremendous record of delivering on-site healthcare services to its employer clients and we believe our strengths can be combined to uniquely fulfill these needs in the employer market.”
In an effort to better control healthcare costs, Cerner has been a self-insured corporation for more than 20 years and has a wholly-owned subsidiary that has served as its third-party administrator since 2006. In 2006, the company expanded its employer offerings and opened a primary care clinic on its world headquarters campus in Kansas City, Mo. Among services offered to Cerner employees and dependents are primary care services, pharmacy, chronic condition management and wellness programs, an electronic health record and secure messaging capabilities with providers.