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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
April 2, 2001
(Date of Report)
April 2, 2001
(Date of earliest event reported)
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Commission File Number 0-26816
IDX SYSTEMS CORPORATION
(Exact name of registrant as specified in its charter)
Vermont 03-0222230
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1400 Shelburne Road
South Burlington, VT 05403
(Address of principal executive offices)
Registrant's telephone number, including area code: (802-862-1022)
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Exhibit Index on Page 2
ITEM 5. OTHER EVENTS
On April 2, 2001, the Company announced that the Company and WebMD
Corporation entered into an agreement regarding their relationship.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
EXHIBIT NO. DESCRIPTION PAGE
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99 IDX News Release dated 4
April 2, 2001
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
IDX SYSTEMS CORPORATION
(Registrant)
Date: April 2, 2001 By: /S/ JOHN A. KANE
__________________________________________
John A. Kane
Vice President, Finance and Administration
Chief Financial Officer, and Treasurer
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EXHIBIT 99
FOR IMMEDIATE RELEASE
IDX Systems Corporation WebMD Corporation
Investors/Media: Investors:
Margo Happer Risa Fisher
margo_happer@idx.com rfisher@webmd.net
802-864-1758 ext. 6169 201-703-3415
Media:
Jennifer Meyer
jmeyer@webmd.net
646-521-9212
IDX and WEBMD ANNOUNCE EXPANDED RELATIONSHIP
IDX PHYSICIANS WILL BENEFIT FROM INTEGRATED ACCESS TO
WEBMD'S TRANSACTION PROCESSING SERVICES
BURLINGTON, VT and ELMWOOD PARK, NJ (April 2, 2001) - IDX Systems Corporation
(NASDAQ: IDXC) and WebMD Corporation (NASDAQ: HLTH) announced today that they
have entered into an agreement to expand their relationship by making WebMD
IDX's provider of electronic claim transactions with commercial payers for
physician groups that connect to payers via IDX's eCommerce Services gateway.
IDX will also feature to its customers WebMD's full suite of real-time
transaction processing services for commercial payers. Under this newly expanded
agreement, IDX and WebMD will work together to accomplish their goal of more
than doubling the number of electronic transactions currently being generated by
the IDX physician user base over the next several years. Although pricing
specifics were not announced today, the companies announced that incentives have
been built into the contract to accomplish this goal.
Richard E. Tarrant, CEO of IDX, said, "We are pleased to expand our relationship
with WebMD in order to bring WebMD's electronic healthcare processing solutions
to the IDX customer base of 120,000 physicians. By integrating WebMD's solutions
with our eCommerce Services, IDX users will greatly benefit from WebMD's
extensive payer connectivity."
The 120,000 physicians served by IDX practice management systems will have
access through IDX's eCommerce Services to WebMD's suite of transaction
processing services including claims, claims status, eligibility, electronic
remittance advice, referrals and encounters. WebMD currently works with
approximately 1,000 healthcare payers across the United States and this full
range of connectivity will be made available to IDX's 2,600 client sites.
Martin J. Wygod, Chairman and CEO of WebMD, said, "Continuing and expanding our
relationship with IDX is an important step toward WebMD achieving its goal of
vastly increasing the volume of electronic healthcare transaction processing and
substantially bringing down administrative costs for payers across the country.
Working closely with industry leaders such as IDX demonstrates our ability to
eliminate the administrative burden for physicians and their office staffs in
order to reduce healthcare costs and improve the quality of patient care."
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ABOUT IDX
Founded in 1969, IDX Systems Corporation uses information technology to maximize
value in the delivery of healthcare, improve the quality of patient service,
enhance medical outcomes, and reduce the costs of care. IDX supports these
objectives with a broad range of complementary, functionally rich, and highly
integrated products installed at 2,600 client sites. Clients span the full care
continuum including academic hospitals and medical centers, integrated delivery
networks, and physician group practices in North America and the United Kingdom.
Customers include 120,000 physicians who utilize practice management systems to
improve patient care and other workflow processes. The IDX Web Strategy includes
browser technology, e-commerce and web-based tools -- built using Internet
architecture -- that facilitates access for patients, physicians and care
providers to vital health information and data managed by the IDX clinical,
administrative, financial, and managed care products. EDiX Corporation, an IDX
subsidiary, offers medical transcription and clinical documentation services to
physicians groups and hospital customers.
ABOUT WEBMD
WebMD provides connectivity and a full suite of services to the healthcare
industry that improve administrative efficiencies and clinical effectiveness
enabling high-quality patient care. The Company's products and services
facilitate information exchange, communication and transactions between the
consumer, physician and healthcare institutions.
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ALL STATEMENTS CONTAINED IN THIS PRESS RELEASE, OTHER THAN STATEMENTS OF
HISTORICAL FACT, ARE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS ARE BASED ON
WEBMD'S CURRENT PLANS AND EXPECTATIONS AND INVOLVE RISKS AND UNCERTAINTIES THAT
COULD CAUSE ACTUAL FUTURE EVENTS OR RESULTS TO BE DIFFERENT FROM THOSE DESCRIBED
IN OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THESE RISKS AND UNCERTAINTIES
INCLUDE THOSE RELATING TO: THE AMOUNT AND TIMING OF THE BENEFITS EXPECTED FROM
THE RESTRUCTURING OF THE STRATEGIC RELATIONSHIP BETWEEN IDX AND WEBMD; MARKET
ACCEPTANCE OF WEBMD'S PRODUCTS AND SERVICES; OPERATIONAL DIFFICULTIES RELATING
TO COMBINING ACQUIRED COMPANIES AND BUSINESSES; THE PROFIT POTENTIAL OF WEBMD'S
STRATEGIC RELATIONSHIPS AND CUSTOMER CONTRACTS; ECONOMIC CONDITIONS AND
REGULATORY MATTERS AFFECTING THE INTERNET AND HEALTHCARE INDUSTRIES; AND THE
ABILITY OF WEBMD TO ATTRACT AND RETAIN QUALIFIED PERSONNEL. FURTHER INFORMATION
ABOUT THESE MATTERS CAN BE FOUND IN WEBMD'S SECURITIES AND EXCHANGE COMMISSION
FILINGS. WEBMD EXPRESSLY DISCLAIMS ANY INTENT OR OBLIGATION TO UPDATE THESE
FORWARD-LOOKING STATEMENTS.
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS PERTAINING TO IDX THAT
INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES. AMONG THE IMPORTANT FACTORS THAT
COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH
FORWARD-LOOKING STATEMENTS ARE UNCERTAINTIES REGARDING THE EXPECTED FUTURE
BENEFITS OF IDX'S RELATIONSHIP WITH WEBMD, POSSIBLE DEFERRAL, DELAY OR
CANCELLATION BY CUSTOMERS OF COMPUTER SYSTEM PURCHASE DECISIONS, POSSIBLE DELAY
OF SYSTEMS INSTALLATIONS, DEVELOPMENT BY COMPETITORS OF NEW OR SUPERIOR
TECHNOLOGIES, CHANGING ECONOMIC, POLITICAL AND REGULATORY INFLUENCES ON THE
HEALTHCARE AND INTERNET INDUSTRIES, CHANGES IN PRODUCT PRICING POLICIES, GENERAL
ECONOMIC CONDITIONS AND REGULATORY DEVELOPMENTS IN THE HEALTHCARE INDUSTRY, AND
FACTORS DETAILED FROM TIME TO TIME IN THE IDX'S PERIODIC REPORTS AND
REGISTRATION STATEMENTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, WHICH
IMPORTANT FACTORS ARE INCORPORATED HEREIN BY REFERENCE. IDX UNDERTAKES NO
OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS TO REFLECT CHANGED ASSUMPTIONS,
THE OCCURRENCE OF UNANTICIPATED EVENTS, OR CHANGES IN FUTURE OPERATING RESULTS,
FINANCIAL CONDITION OR BUSINESS OVER TIME.
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