Quality Systems, Inc. Names Daniel J. Morefield Executive Vice President, Chief Operating Officer
IRVINE, Calif.--(BUSINESS WIRE)--
Quality Systems, Inc. (NASDAQ: QSII) announced today the appointment of
Daniel J. Morefield to the position of executive vice president, chief
operating officer, effective September 25, 2012.
In this new capacity, Morefield will oversee operations for the Company
and all its business units.
Morefield brings more than 30 years of experience to Quality Systems,
having spent the past decade serving in various operational and
technology leadership roles. Most recently, Morefield was president and
chief executive officer at LEADS360, Inc., the country's largest and
most successful sales lead management company. During his tenure,
Morefield introduced several successful new products, reorganized its
leadership team and helped develop and implement a new strategy that
resulted in improved financial and operational performance
Previously, Morefield was chief operations officer at Experian Consumer
Direct, the largest consumer credit report monitoring business and
parent of well-known brands such as consumerinfo.com and
freecreditreport.com. Here, Morefield oversaw technology, product
development, customer operations and wholesale client relationships.
During his tenure, Morefield rebuilt the company's technology and
product management teams, which helped increase its average membership
revenue by 59 percent.
Morefield also served as chief information officer at Overture Services,
Inc., the pioneer of the paid search concept including
pay-for-performance and sponsored search options. Morefield scaled the
company's operations to successfully support rapid growth, including a
1,000 percent increase in revenue, and expanded the technology team from
70 to more than 400 professionals worldwide.
"We welcome Dan to the senior management team at Quality Systems. We
believe his operational expertise -- coupled with his extensive
knowledge of software and technology -- will prove beneficial to the
growth and future of Quality Systems. Dan's insight will be advantageous
in our continued development of cutting-edge ancillary products and
services that support our award-wining electronic health records (EHR)
platform, practice management solutions and revenue cycle management
offering," noted Steven T. Plochocki, president and chief executive
officer at Quality Systems.
"We also look forward to the contributions Dan will make in his new role
as we continue to address the ongoing, nationwide adoption of EHR as
part of the stimulus plan, new models stemming from healthcare reform
and the recent changes in the healthcare information technology sector
as well as throughout our organization. We are confident that Dan's
acumen will play a key role in the direction and success of Quality
Systems, and welcome him to the team," Plochocki said.
Morefield is a resident of Laguna Niguel, Calif. and holds a Bachelor of
Arts degree in management science (quantitative economics) from the
University of California, San Diego.
About Quality Systems, Inc.
Irvine, Calif.-based Quality
Systems, Inc. and its NextGen Healthcare subsidiary develop and
market computer-based practice management, electronic health records and
revenue cycle management applications as well as connectivity products
and services for medical and dental group practices and small hospitals.
Visit www.qsii.com
and www.nextgen.com
for additional information.
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements within the
meaning of the federal securities laws, including but not limited to,
statements regarding future events, developments, the Company's future
performance, as well as management's expectations, beliefs, intentions,
plans, estimates or projections relating to the future (including,
without limitation, statements concerning revenue, net income and
earnings per share). Risks and uncertainties exist that may cause the
results to differ materially from those set forth in these
forward-looking statements. Factors that could cause the anticipated
results to differ from those described in the forward-looking statements
are set forth in Part I, Item A of our most recent Annual Report on Form
10-K for the fiscal year ended March 31, 2012, including but not limited
to: the volume and timing of systems sales and installations; length of
sales cycles and the installation process; the possibility that products
will not achieve or sustain market acceptance; seasonal patterns of
sales and customer buying behavior; impact of incentive payments under
The American Recovery and Reinvestment Act on sales and the ability of
the Company to meet continued certification requirements; the
development by competitors of new or superior technologies; the timing,
cost and success or failure of new product and service introductions,
development and product upgrade releases; undetected errors or bugs in
software; product liability; changing economic, political or regulatory
influences in the health-care industry; changes in product-pricing
policies; availability of third-party products and components;
competitive pressures including product offerings, pricing and
promotional activities; the Company's ability or inability to attract
and retain qualified personnel; possible regulation of the Company's
software by the U.S. Food and Drug Administration; changes of accounting
estimates and assumptions used to prepare the prior periods' financial
statements; and general economic conditions. A significant portion of
the Company's quarterly sales of software product licenses and computer
hardware is concluded in the last month of a fiscal quarter, generally
with a concentration of such revenues earned in the final ten business
days of that month. Due to these and other factors, the Company's
revenues and operating results are very difficult to forecast. A major
portion of the Company's costs and expenses, such as personnel and
facilities, are of a fixed nature and, accordingly, a shortfall or
decline in quarterly and/or annual revenues typically results in lower
profitability or losses. As a result, comparison of the Company's
period-to-period financial performance is not necessarily meaningful and
should not be relied upon as an indicator of future performance. The
Company undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Quality Systems, Inc.
Susan J. Lewis, 303-804-0494
[email protected]
Source: Quality Systems, Inc.
News Provided by Acquire Media
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