We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Community Health (CYH) Ties Up to Offer Enhanced Remote Care
Read MoreHide Full Article
Community Health Systems, Inc. (CYH - Free Report) recently collaborated with the health technology company Cadence to extend a cutting-edge digital healthcare infrastructure to patients grappling with chronic conditions.
Shares of Community Health have lost 0.5% on Feb 11, replicating declines in broader markets.
Coming back to the latest tie-up, CYH will utilize the remote patient monitoring (RPM) and virtual care solution of Cadence for delivering better clinical care across its robust nationwide footprint. This, in turn, is anticipated to offer effective remote care to patients, who can now navigate and manage chronic conditions from the comfort of one’s home.
Access to regular and seamless virtual care at home enhances the health outcomes of a patient. This might ultimately lead to reduced hospitalization, thereby lessening the mounting burden on the U.S. healthcare system. Also, remote patient monitoring services are most affordable in nature.
Initially, the alliance between Community Health and Cadence will assist patients grappling with hypertension, heart failure, diabetes, and chronic obstructive pulmonary disease. The remote care platform of Community Health, backed by Cadence's digital infrastructure, is expected to expand its reach later to cater to the increasing number of conditions, acuities, and care pathways.
The recent partnership is reflective of CYH’s sincere efforts to deploy innovative solutions for providing enhanced remote care at home. Cadence seems to be the apt partner for complementing Community Health’s endeavor, courtesy of the procedure followed by the company. The health technology company gathers and analyzes the vitals, medical history and wellness data of patients who provide this information from their homes. Based on them, Cadence generates personalized and real-time responsiveness to enhance disease management.
Initiatives similar to the latest one seem to be time opportune as well since Americans have been increasingly suffering from chronic conditions, which continue to be a significant cause of death or disability in the country. Chronic diseases have escalated healthcare costs for Americans. Per the Centers for Disease Control and Prevention (CDC), 60% of Americans suffer from a minimum of one chronic condition, while 40% of them grapple with two or more chronic conditions.
The robust telehealth platform of Community Health has only strengthened as a result of the recent partnership. CYH has made substantial investments in developing virtual care services, which have been in huge demand since the coronavirus outbreak and show no sign of slowing down. Per Fortune Business Insights, the global telehealth market is projected to witness a CAGR of 32.1% over the 2021-2028 period. With the persistent emergence of new COVID-19 variants, people continue to prefer receiving the much-needed healthcare services from the comfort of one’s homes. The remote care platform of Community Health places it well to capitalize on the current scenario.
Similar to Community Health, other companies in the medical space, namely UnitedHealth Group Incorporated (UNH - Free Report) , Teladoc Health, Inc. (TDOC - Free Report) and Centene Corporation (CNC - Free Report) , have been offering telehealth services and remain well-poised to gain amid the growing popularity of remote services.
UnitedHealth Group has been making concerted efforts to bolster its telehealth services suite. The initiatives of UNH range from collaborating with well-known companies, launching teledentistry services to inaugurating a digital health therapy with an aim to bring about improved health outcomes for people suffering from type 2 diabetes. The launch of the new virtual care model Right2You by UnitedHealth Group’s business UnitedHealthcare aims to provide its members with an online service for custom-programmed hearing aids.
The robust telehealth platform of Teladoc Health requires a special mention, which played a crucial role in addressing the health needs of people amid the pandemic. TDOC has devised this platform through advanced technologies, partnering with well-established healthcare providers and substantial investments. In December 2021, Teladoc Health teamed up with the National Labor Alliance of Health Care Coalitions (NLA) to offer its comprehensive suite of virtual care services to benefit the latter’s members.
Centene has been making every effort to offer telehealth offerings across every corner of the United States including the underserved ones. For this purpose, CNC collaborated with Samsung Electronics America in 2020. With digitization becoming an integral part of daily lives, Centene has acquired Apixio for availing enhanced AI technology solutions and digitizing its administrative activities.
Shares of UnitedHealth Group and Centene have gained 45.7% and 40.7%, respectively, in a year. Meanwhile, Teladoc Health stock has lost 75.2% in the same time frame.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Community Health (CYH) Ties Up to Offer Enhanced Remote Care
Community Health Systems, Inc. (CYH - Free Report) recently collaborated with the health technology company Cadence to extend a cutting-edge digital healthcare infrastructure to patients grappling with chronic conditions.
Shares of Community Health have lost 0.5% on Feb 11, replicating declines in broader markets.
Coming back to the latest tie-up, CYH will utilize the remote patient monitoring (RPM) and virtual care solution of Cadence for delivering better clinical care across its robust nationwide footprint. This, in turn, is anticipated to offer effective remote care to patients, who can now navigate and manage chronic conditions from the comfort of one’s home.
Access to regular and seamless virtual care at home enhances the health outcomes of a patient. This might ultimately lead to reduced hospitalization, thereby lessening the mounting burden on the U.S. healthcare system. Also, remote patient monitoring services are most affordable in nature.
Initially, the alliance between Community Health and Cadence will assist patients grappling with hypertension, heart failure, diabetes, and chronic obstructive pulmonary disease. The remote care platform of Community Health, backed by Cadence's digital infrastructure, is expected to expand its reach later to cater to the increasing number of conditions, acuities, and care pathways.
The recent partnership is reflective of CYH’s sincere efforts to deploy innovative solutions for providing enhanced remote care at home. Cadence seems to be the apt partner for complementing Community Health’s endeavor, courtesy of the procedure followed by the company. The health technology company gathers and analyzes the vitals, medical history and wellness data of patients who provide this information from their homes. Based on them, Cadence generates personalized and real-time responsiveness to enhance disease management.
Initiatives similar to the latest one seem to be time opportune as well since Americans have been increasingly suffering from chronic conditions, which continue to be a significant cause of death or disability in the country. Chronic diseases have escalated healthcare costs for Americans. Per the Centers for Disease Control and Prevention (CDC), 60% of Americans suffer from a minimum of one chronic condition, while 40% of them grapple with two or more chronic conditions.
The robust telehealth platform of Community Health has only strengthened as a result of the recent partnership. CYH has made substantial investments in developing virtual care services, which have been in huge demand since the coronavirus outbreak and show no sign of slowing down. Per Fortune Business Insights, the global telehealth market is projected to witness a CAGR of 32.1% over the 2021-2028 period. With the persistent emergence of new COVID-19 variants, people continue to prefer receiving the much-needed healthcare services from the comfort of one’s homes. The remote care platform of Community Health places it well to capitalize on the current scenario.
Similar to Community Health, other companies in the medical space, namely UnitedHealth Group Incorporated (UNH - Free Report) , Teladoc Health, Inc. (TDOC - Free Report) and Centene Corporation (CNC - Free Report) , have been offering telehealth services and remain well-poised to gain amid the growing popularity of remote services.
UnitedHealth Group has been making concerted efforts to bolster its telehealth services suite. The initiatives of UNH range from collaborating with well-known companies, launching teledentistry services to inaugurating a digital health therapy with an aim to bring about improved health outcomes for people suffering from type 2 diabetes. The launch of the new virtual care model Right2You by UnitedHealth Group’s business UnitedHealthcare aims to provide its members with an online service for custom-programmed hearing aids.
The robust telehealth platform of Teladoc Health requires a special mention, which played a crucial role in addressing the health needs of people amid the pandemic. TDOC has devised this platform through advanced technologies, partnering with well-established healthcare providers and substantial investments. In December 2021, Teladoc Health teamed up with the National Labor Alliance of Health Care Coalitions (NLA) to offer its comprehensive suite of virtual care services to benefit the latter’s members.
Centene has been making every effort to offer telehealth offerings across every corner of the United States including the underserved ones. For this purpose, CNC collaborated with Samsung Electronics America in 2020. With digitization becoming an integral part of daily lives, Centene has acquired Apixio for availing enhanced AI technology solutions and digitizing its administrative activities.
Price Performances
Shares of Community Health have gained 43% in a year compared with the industry’s rally of 24.8%. CYH currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of UnitedHealth Group and Centene have gained 45.7% and 40.7%, respectively, in a year. Meanwhile, Teladoc Health stock has lost 75.2% in the same time frame.