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Is Allscripts a Buy?

We already talked about what a great push the folks in Washington can be for a company, and Allscripts is a similar play.

No, there isn’t one particular politician that bought this stock the way Nancy Pelosi bought Clean Energy Fuels. Allscripts benefits thanks to what Chairman and CEO Glenn Tullman called “landmark legislation,” the newly signed Medicare bill.

Washington has decided to pay doctors to use Allscripts e-prescribing software for drug prescriptions. And on top of that, the government will start to penalize doctors who aren’t using e-prescribing systems, starting in a few years.

“So you can’t ask for a better endorsement than the government actually pushing your product,” Tullman said.

The CEO also took a minute to explain the expected acquisition of Mysis Healthcare Systems, saying the deal is on track for completion and that shareholders can expect about $5 a share cash dividend once the merger is closed.

Cramer expressed some concern about the stock dropping once that payout happens, but Tullman said that was inevitable given that some stockholders only bought MDRX for that dividend. “If you believe in the long-term premise,” he said, then that dip is a buying opportunity.

“This is a good story,” Cramer said. If the stock gets hit on the dividend payout, he might recommend MDRX again.

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