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Cerner's CommunityWorks Picked by Reeves County Hospital

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Cerner Corporation’s coveted CommunityWorks was recently selected by Reeves County Hospital District. Cerner’s electronic health record (EHR) and revenue cycle solutions will be implemented across the 25-bed critical access hospital to improve quality of health care in Reeves and also in adjacent West Texas communities.

Following the announcement, shares of Cerner inched up to $64.31 at close. Notably, the stock has rallied 7.5% compared with the industry’s 4.2% rise in the past three months. The current level is also higher than the S&P 500 index’s return of 5.2%.

The stock currently has a Zacks Rank #3 (Hold).

 

More Developments

In recent times, the Missouri-based provider of healthcare information technology (HCIT) solutions has seen a slew of developments.

Cerner Integrated, a community behavioral health deployment model, was recently implemented by Spectrum Health & Human Services to treat psychological disorders. (Read More: Cerner Integrated Platform Implemented by Spectrum Health)

In August, Cerner collaborated with Duke Clinical Research Institute to develop an atherosclerotic cardiovascular disease (ASCVD) Risk Calculator application. Notably, the application is designed to improve communication between patients and doctors. (Read More: Cerner, Duke Clinical Research Launch Risk Calculator App)

In July, Cerner announced a 10-year collaboration with Lumeris, an award-winning health plan and value-based care managed services operator.

Cerner & EHR

The use of analytics is gradually gaining prominence in the healthcare industry. Cerner has been dominating the headlines, courtesy of its efforts to digitize EHR systems. The company’s CommunityWorks is a cloud-based IT platform that provides an integrated digital record of a patient's health history that includes clinical and financial data.

Furthermore, Cerner’s HealtheIntent is a cloud-based population health management platform. It enables health care systems to aggregate, transform and reconcile data. Cerner Millennium is a Java and cloud-based automated library solution suitable for small to midsized medical practices.

Market Prospects

An article by Global Market Insights suggests that the global HCIT market is projected to see a CAGR of 12% and exceed $16 billion by 2024.

Rising healthcare cost and an influx of data in the healthcare industry play a pivotal role in driving the market.

Hence the latest developments are likely to benefit Cerner.

Key Picks

A few better-ranked stocks in the broader medical space are athenahealth , Intuitive Surgical (ISRG - Free Report) and Masimo Corporation (MASI - Free Report) .

athenahealth has a long-term expected earnings growth rate of 17.6%. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Intuitive Surgical’s expected long-term earnings growth rate is 14.7%. The stock has a Zacks Rank #2 (Buy).

Masimo’s long-term earnings growth rate is projected at 14.8%. The stock carries a Zacks Rank #2.

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