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Omnicell (OMCL) Progresses With Intelligent Infrastructure Tools
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Omnicell (OMCL - Free Report) has moved one step forward in terms of intelligent infrastructure in medication management. The company recently announced the launch of IVX Station robotic compounding technology, aimed at optimizing the benefits of IV robotic technology, making it accessible to the mainstream market.
The company, along with other technological advancements, has introduced the aforesaid technology in Omnicell’s Winter 2022 release.
Further Details
IVX Station, according to Omnicell, is a fully automated IV compounding robot designed to deliver better patient safety, accuracy, cost savings, supply chain control and compliance benefits compared to its earlier generations while addressing industry issues related to throughput and reliability. It is claimed to support three times the throughput speed of current IV robotic technology.
The IVX Station technology, due to its innovative features, can eliminate the prime cause of downtime, i.e., re-calibration, and can also maintain the approximate footprint of a four-foot hood.
Image Source: Zacks Investment Research
The IVX Station is available through Omnicell’s IV Compounding Service. Here, this technology gets combined with trained pharmacy technicians to ensure value realization. Omnicell believes that this "as-a-Service" approach will help reduce reliance on outsourced sterile compounding while allowing health systems to reduce drug wastage in the operating room.
Other Winter 2022 Releases by OMCL
Omnicell, through its Winter 2022 releases, aims to strengthen its portfolio of intelligent infrastructure solutions for medication management. The company has unveiled several technological enhancements in this line.
These enhancements include Omnicell One scorecard and benchmarking capabilities. These new capabilities consolidate pharmacy supply chain data from across a provider’s ecosystem. The company will also be introducing its new Refrigerated Carousel. These refrigerated medications comprise 20% of overall hospital drug spending, leading to better supply visibility and control. The company also plans to introduce expanded form factors for XR2. According to Omnicell, using the XR2 Automated Central Pharmacy System, health system pharmacies can now manage more medications offered through Omnicell’s Central Pharmacy Dispensing Service.
Other technological advancements that the company presented are workflow enhancements for XT Anesthesia Workstation and new workflow functionality for XT Automated Dispensing Cabinets.
Strategic Implication
Over the past couple of years, thanks to the pandemic, the healthcare industry has been typically grappling with issues like staffing shortages and supply chain disruptions. Further, the pandemic, while inflating the complexities of healthcare procedures, has also led to a stupendous increase in cost of healthcare.
Under such a scenario, Omnicell believes that the enhancement of its existing technologies and delivering new intelligent infrastructural technologies like IVX Station within medication management and adherence should increase the efficiency of pharmacy care, and thereby help overcome the aforesaid challenges.
Under the current situation, when new strains of coronavirus are still being detected at regular intervals across the globe, we believe Omnicell’s latest focus to strengthen its portfolio of intelligent infrastructure solutions is well timed and strategic for its business.
Omnicell's Recent Updates on Intelligence Infrastructure
The company has accelerated a shift to cloud-based solutions and tech-enabled services through the launches of Omnicell One and Central Pharmacy Dispensing Services. In 2021, the company has seen rapid growth in SaaS, subscription software and tech-enabled services bookings. In this line, EnlivenHealth, a division of Omnicell, launched personalized interactive voice response, a SaaS technology solution that automates patient communications and frees up pharmacists to spend more quality time with patients. Omnicell’s acquisitions of FDS Amplicare and MarkeTouch are anticipated to expand the company’s EnlivenHealth division’s market footprint.
Share Price Movement
Over the past year, Omnicell’s shares have outperformed the industry it belongs to. The stock has increased 3.2% against the industry’s 45.5% decline.
Zacks Rank and Key Picks
Omnicell currently carries an Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical space are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and Bio-Rad Laboratories, Inc. (BIO - Free Report) .
McKesson has a long-term earnings growth rate of 11.8%. MCK has gained 49.7% compared with the industry’s 4.7% growth in the past year.
AMN Healthcare, carrying a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 23.8% versus the 62% industry decline.
Bio-Rad reported fourth-quarter 2021 adjusted EPS of $3.21, which surpassed the Zacks Consensus Estimate by 11.9%. It currently has a Zacks Rank #2.
Bio-Rad has an earnings yield of 2.3%, which compares favorably against the industry’s negative yield. BIO surpassed earnings estimates in the trailing four quarters, the average surprise being 66.9%.
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Omnicell (OMCL) Progresses With Intelligent Infrastructure Tools
Omnicell (OMCL - Free Report) has moved one step forward in terms of intelligent infrastructure in medication management. The company recently announced the launch of IVX Station robotic compounding technology, aimed at optimizing the benefits of IV robotic technology, making it accessible to the mainstream market.
The company, along with other technological advancements, has introduced the aforesaid technology in Omnicell’s Winter 2022 release.
Further Details
IVX Station, according to Omnicell, is a fully automated IV compounding robot designed to deliver better patient safety, accuracy, cost savings, supply chain control and compliance benefits compared to its earlier generations while addressing industry issues related to throughput and reliability. It is claimed to support three times the throughput speed of current IV robotic technology.
The IVX Station technology, due to its innovative features, can eliminate the prime cause of downtime, i.e., re-calibration, and can also maintain the approximate footprint of a four-foot hood.
Image Source: Zacks Investment Research
The IVX Station is available through Omnicell’s IV Compounding Service. Here, this technology gets combined with trained pharmacy technicians to ensure value realization. Omnicell believes that this "as-a-Service" approach will help reduce reliance on outsourced sterile compounding while allowing health systems to reduce drug wastage in the operating room.
Other Winter 2022 Releases by OMCL
Omnicell, through its Winter 2022 releases, aims to strengthen its portfolio of intelligent infrastructure solutions for medication management. The company has unveiled several technological enhancements in this line.
These enhancements include Omnicell One scorecard and benchmarking capabilities. These new capabilities consolidate pharmacy supply chain data from across a provider’s ecosystem. The company will also be introducing its new Refrigerated Carousel. These refrigerated medications comprise 20% of overall hospital drug spending, leading to better supply visibility and control. The company also plans to introduce expanded form factors for XR2. According to Omnicell, using the XR2 Automated Central Pharmacy System, health system pharmacies can now manage more medications offered through Omnicell’s Central Pharmacy Dispensing Service.
Other technological advancements that the company presented are workflow enhancements for XT Anesthesia Workstation and new workflow functionality for XT Automated Dispensing Cabinets.
Strategic Implication
Over the past couple of years, thanks to the pandemic, the healthcare industry has been typically grappling with issues like staffing shortages and supply chain disruptions. Further, the pandemic, while inflating the complexities of healthcare procedures, has also led to a stupendous increase in cost of healthcare.
Under such a scenario, Omnicell believes that the enhancement of its existing technologies and delivering new intelligent infrastructural technologies like IVX Station within medication management and adherence should increase the efficiency of pharmacy care, and thereby help overcome the aforesaid challenges.
Under the current situation, when new strains of coronavirus are still being detected at regular intervals across the globe, we believe Omnicell’s latest focus to strengthen its portfolio of intelligent infrastructure solutions is well timed and strategic for its business.
Omnicell's Recent Updates on Intelligence Infrastructure
The company has accelerated a shift to cloud-based solutions and tech-enabled services through the launches of Omnicell One and Central Pharmacy Dispensing Services. In 2021, the company has seen rapid growth in SaaS, subscription software and tech-enabled services bookings. In this line, EnlivenHealth, a division of Omnicell, launched personalized interactive voice response, a SaaS technology solution that automates patient communications and frees up pharmacists to spend more quality time with patients. Omnicell’s acquisitions of FDS Amplicare and MarkeTouch are anticipated to expand the company’s EnlivenHealth division’s market footprint.
Share Price Movement
Over the past year, Omnicell’s shares have outperformed the industry it belongs to. The stock has increased 3.2% against the industry’s 45.5% decline.
Zacks Rank and Key Picks
Omnicell currently carries an Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical space are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and Bio-Rad Laboratories, Inc. (BIO - Free Report) .
McKesson, carrying a Zacks Rank #2, reported third-quarter fiscal 2022 adjusted EPS of $6.15, which beat the Zacks Consensus Estimate of $5.38 by 14.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
McKesson has a long-term earnings growth rate of 11.8%. MCK has gained 49.7% compared with the industry’s 4.7% growth in the past year.
AMN Healthcare, carrying a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 23.8% versus the 62% industry decline.
Bio-Rad reported fourth-quarter 2021 adjusted EPS of $3.21, which surpassed the Zacks Consensus Estimate by 11.9%. It currently has a Zacks Rank #2.
Bio-Rad has an earnings yield of 2.3%, which compares favorably against the industry’s negative yield. BIO surpassed earnings estimates in the trailing four quarters, the average surprise being 66.9%.