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Veradigm's (MDRX) New Offering to Enhance Patient Engagement
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Veradigm Inc. (MDRX - Free Report) recently announced a new solution, Veradigm Intelligent Payments. The company aims to help increase payment rates, accelerate time to payment and reduce manual reconciliation time for healthcare provider practices by offering the new solution.
Veradigm Intelligent Payments, a bundle of financial communications and payment solutions, is now available within Veradigm Payerpath via a collaboration with RevSpring. It is noteworthy to mention that RevSpring is a renowned provider of healthcare engagement and payment solutions.
The latest offering by Veradigm will likely expand the business and strengthen its foothold in the patient engagement space.
Significance of the Availability
Veradigm Intelligent Payments is expected to offer healthcare organizations the ability to digitally engage with patients for the delivery of patient statements and collection letter communications. This, in turn, will likely ease the administrative burden experienced by many healthcare provider practices.
Veradigm Intelligent Payments also includes an enhanced online bill payment portal to improve both practice efficiency and patient satisfaction. The new solution is expected to aid practices in seamlessly shifting to a more easily actionable digital delivery of financial communications that provides patient engagement via preferred channels.
Veradigm’s management believes that the solution will likely provide overall value to its clients by offering the right payment option to each individual patient via the appropriate communication channel.
Per RevSpring’s management, the tie-up with Veradigm is expected to align with the company’s growth goals and allow it to have a positive impact on the financial health of providers and their patients.
Industry Prospects
Per a report by MarketsandMarkets, the global patient engagement solutions market was estimated to be worth $17.3 billion in 2022 and is anticipated to reach $27.9 billion by 2027 at a CAGR of 10%. Factors like the high demand for patient engagement solutions, the increasing healthcare initiatives to promote patient-centric care and the growing utilization of m-health apps are likely to drive the market.
Given the market potential, the latest offering will likely provide a significant impetus to Veradigm’s business.
Notable Developments
In October, Veradigm 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.
The same month, Veradigm and Holmusk, in a 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.
In September, 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 29.9% in the past year against the industry’s 15% rise and the S&P 500’s 10.5% 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) , HealthEquity, Inc. (HQY - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita has gained 17.3% against the industry’s 8.7% decline over the past year.
HealthEquity, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 26.7%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity has gained 5.6% against the industry’s 17.3% decline over the past year.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 11.9%.
Integer Holdings has gained 18.8% against the industry’s 12.1% decline over the past year.
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Veradigm's (MDRX) New Offering to Enhance Patient Engagement
Veradigm Inc. (MDRX - Free Report) recently announced a new solution, Veradigm Intelligent Payments. The company aims to help increase payment rates, accelerate time to payment and reduce manual reconciliation time for healthcare provider practices by offering the new solution.
Veradigm Intelligent Payments, a bundle of financial communications and payment solutions, is now available within Veradigm Payerpath via a collaboration with RevSpring. It is noteworthy to mention that RevSpring is a renowned provider of healthcare engagement and payment solutions.
The latest offering by Veradigm will likely expand the business and strengthen its foothold in the patient engagement space.
Significance of the Availability
Veradigm Intelligent Payments is expected to offer healthcare organizations the ability to digitally engage with patients for the delivery of patient statements and collection letter communications. This, in turn, will likely ease the administrative burden experienced by many healthcare provider practices.
Veradigm Intelligent Payments also includes an enhanced online bill payment portal to improve both practice efficiency and patient satisfaction. The new solution is expected to aid practices in seamlessly shifting to a more easily actionable digital delivery of financial communications that provides patient engagement via preferred channels.
Veradigm’s management believes that the solution will likely provide overall value to its clients by offering the right payment option to each individual patient via the appropriate communication channel.
Per RevSpring’s management, the tie-up with Veradigm is expected to align with the company’s growth goals and allow it to have a positive impact on the financial health of providers and their patients.
Industry Prospects
Per a report by MarketsandMarkets, the global patient engagement solutions market was estimated to be worth $17.3 billion in 2022 and is anticipated to reach $27.9 billion by 2027 at a CAGR of 10%. Factors like the high demand for patient engagement solutions, the increasing healthcare initiatives to promote patient-centric care and the growing utilization of m-health apps are likely to drive the market.
Given the market potential, the latest offering will likely provide a significant impetus to Veradigm’s business.
Notable Developments
In October, Veradigm 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.
The same month, Veradigm and Holmusk, in a 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.
In September, 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 29.9% in the past year against the industry’s 15% rise and the S&P 500’s 10.5% 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) , HealthEquity, Inc. (HQY - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita has gained 17.3% against the industry’s 8.7% decline over the past year.
HealthEquity, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 26.7%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity has gained 5.6% against the industry’s 17.3% decline over the past year.
Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 11.9%.
Integer Holdings has gained 18.8% against the industry’s 12.1% decline over the past year.