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Veradigm (MDRX)-FDB Vela to Enhance Pharmacy Connectivity
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Veradigm Inc. (MDRX - Free Report) recently announced that it is the first major electronic health record (EHR) network to join the FDB (First Databank, Inc.) Vela ePrescribing network. Veradigm will be integrating the FDB Vela ePrescribing network into its available solutions for users and partners, including its EHRs and the Veradigm ePrescribe Enterprise solution.
FDB Vela is a cloud-native ePrescribing network that enables the seamless flow of crucial medication prescription information, benefits verification and clinical decision support between prescribers, pharmacy benefit managers, payers, pharmacies and other constituents.
The latest decision by Veradigm to join FDB Vela will likely expand the Veradigm Network's community of companies providing advanced insights, technology and data-driven solutions.
Significance of the Decision
Following Veradigm joining FDB Vela, the latter will offer Veradigm a technologically advanced electronic prescriber network. This is expected to enable secure access to retail pharmacies, mail-order pharmacies and specialty pharmacies for the delivery of electronic prescriptions. It will also provide access to critical patient eligibility information at the point of care. By joining FDB Vela, Veradigm aims to further facilitate interoperability and reduce potential friction in the prescribing process while continuing to put providers and patients at the forefront of secure and timely medication delivery.
Per Veradigm’s management, the latest decision reflects the beginning of a new phase in pharmacy connectivity that aids in further streamlining prescribing workflows while enhancing the patient experience via medication information and more transparency into their out-of-pocket costs. Management also believes that with FDB Vela and through the Veradigm Network, the company will be able to offer its prescribers a wider choice of pharmacies and enhanced capabilities. This, in turn, will likely enable greater patient understanding, engagement and fully informed shared decision-making.
FDB Vela’s management feels that Veradigm's participation in the FDB Vela ePrescribing network highlights the need for greater choice within the market. Management also expects that by enabling the patient-focused workflow, greater medication adherence, patient engagement and optimal outcomes can be promoted.
Industry Prospects
Per a report by Grand View Research, the global e-prescribing market was estimated to be $2.89 billion in 2022 and is projected to witness a CAGR of 26.8% between 2023 and 2030. Factors like the increasing adoption of electronic prescribing and the growing adoption of EHR solutions are likely to drive the market.
Given the market potential, the latest announcement will likely provide a significant impetus to Veradigm’s business.
Recent Developments
This month, Veradigm and Holmusk, in a recent press release, jointly announced the next stage in its strategic collaboration. The collaboration leverages the strengths of each company to drive innovation in behavioral health and create the evidence required to make advancements in the field.
Last month, Veradigm announced a strategic collaboration with On Belay Health Solutions. The tie-up aims to support primary care providers in improving patients’ health outcomes while strengthening their practices’ financial foundation.
Price Performance
Shares of Veradigm have lost 3.6% in the past year against the industry’s 25.2% rise and the S&P 500’s 19.7% growth.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, Veradigm carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , McKesson Corporation (MCK - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita has gained 2.6% against the industry’s 4.9% decline over the past year.
McKesson, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 8.1%.
McKesson has gained 28.2% compared with the industry’s 23.3% rise over the past year.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.
Integer Holdings has gained 54.6% compared with the industry’s 1.8% rise over the past year.
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Veradigm (MDRX)-FDB Vela to Enhance Pharmacy Connectivity
Veradigm Inc. (MDRX - Free Report) recently announced that it is the first major electronic health record (EHR) network to join the FDB (First Databank, Inc.) Vela ePrescribing network. Veradigm will be integrating the FDB Vela ePrescribing network into its available solutions for users and partners, including its EHRs and the Veradigm ePrescribe Enterprise solution.
FDB Vela is a cloud-native ePrescribing network that enables the seamless flow of crucial medication prescription information, benefits verification and clinical decision support between prescribers, pharmacy benefit managers, payers, pharmacies and other constituents.
The latest decision by Veradigm to join FDB Vela will likely expand the Veradigm Network's community of companies providing advanced insights, technology and data-driven solutions.
Significance of the Decision
Following Veradigm joining FDB Vela, the latter will offer Veradigm a technologically advanced electronic prescriber network. This is expected to enable secure access to retail pharmacies, mail-order pharmacies and specialty pharmacies for the delivery of electronic prescriptions. It will also provide access to critical patient eligibility information at the point of care. By joining FDB Vela, Veradigm aims to further facilitate interoperability and reduce potential friction in the prescribing process while continuing to put providers and patients at the forefront of secure and timely medication delivery.
Per Veradigm’s management, the latest decision reflects the beginning of a new phase in pharmacy connectivity that aids in further streamlining prescribing workflows while enhancing the patient experience via medication information and more transparency into their out-of-pocket costs. Management also believes that with FDB Vela and through the Veradigm Network, the company will be able to offer its prescribers a wider choice of pharmacies and enhanced capabilities. This, in turn, will likely enable greater patient understanding, engagement and fully informed shared decision-making.
FDB Vela’s management feels that Veradigm's participation in the FDB Vela ePrescribing network highlights the need for greater choice within the market. Management also expects that by enabling the patient-focused workflow, greater medication adherence, patient engagement and optimal outcomes can be promoted.
Industry Prospects
Per a report by Grand View Research, the global e-prescribing market was estimated to be $2.89 billion in 2022 and is projected to witness a CAGR of 26.8% between 2023 and 2030. Factors like the increasing adoption of electronic prescribing and the growing adoption of EHR solutions are likely to drive the market.
Given the market potential, the latest announcement will likely provide a significant impetus to Veradigm’s business.
Recent Developments
This month, Veradigm and Holmusk, in a recent press release, jointly announced the next stage in its strategic collaboration. The collaboration leverages the strengths of each company to drive innovation in behavioral health and create the evidence required to make advancements in the field.
Last month, Veradigm announced a strategic collaboration with On Belay Health Solutions. The tie-up aims to support primary care providers in improving patients’ health outcomes while strengthening their practices’ financial foundation.
Price Performance
Shares of Veradigm have lost 3.6% in the past year against the industry’s 25.2% rise and the S&P 500’s 19.7% growth.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, Veradigm carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , McKesson Corporation (MCK - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita has gained 2.6% against the industry’s 4.9% decline over the past year.
McKesson, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 8.1%.
McKesson has gained 28.2% compared with the industry’s 23.3% rise over the past year.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.
Integer Holdings has gained 54.6% compared with the industry’s 1.8% rise over the past year.