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.
Allscripts Enhances Healthcare Innovation With Patent Program
Read MoreHide Full Article
Allscripts Healthcare Solutions, Inc. (MDRX - Free Report) has recently been awarded five separate patents over the period of only eight days, which underscores its commitment toward delivering unique solutions to clients. The move also highlights its substantial momentum in health IT innovation.
Notably, Allscripts’ robust patent program is anticipated to add several additional patents throughout the remaining period of 2020 via innovation to enhance care delivery and connect the overall patient experience.
The strengthening of its patent program is likely to bolster Allscripts’ innovation portfolio.
Allscripts’ Role in Improved Healthcare Delivery
Allscripts has built a reputation of being a leader in healthcare technology and continues to capitalize on opportunities to boost its offerings. According to the company, healthcare solutions should be open and accessible to everyone, and cutting-edge innovation is the key to make that a reality.
Notably, each of the aforementioned awarded patents will help in simplifying and boosting healthcare delivery. For instance, one of the patents is an application that connects electronic health records (EHRs) to numerous wellness applications. This, in turn, will aid in higher level of patient engagement by offering frictionless goal-tacking functionality.
Allscripts has managed to develop a large-scale patent program with the help of substantial investment in software R&D. Notably, the program has more than 150 patents issued and another 150-plus of them still pending.
Recent Developments
Allscripts continues to focus on advancing healthcare innovation by offering unique solutions to healthcare organizations to deliver excellent care.
In August 2020, the company collaborated with Israel’s Sheba Medical Center to accelerate the pace of artificial intelligence technologies and boost patient care through the hospitals’ ARC (acronym for accelerate, redesign and collaborate) Innovation Center. Notably, ARC is the innovation unit of Sheba Medical Center and envisions to transform healthcare by 2030.
In July 2020, Allscripts extended its long-standing strategic alliance with Microsoft for five years. The deal will enable expanded development and delivery of cloud-based health IT solutions. The five-year extension will make Microsoft the cloud provider to Allscripts’ cloud-based Sunrise electronic health record (EHR) solution. With respect to co-innovation, this extension will help transform healthcare with smarter and more scalable technology.
Market Prospects
Per a report by Allied Market Research, the global healthcare IT (HCIT) market estimates that the market for HCIT solutions and services was $125 billion in 2015 and is projected to reach $297 billion by 2022, witnessing a CAGR of 13.2%.
Growing demand for quality healthcare services and solutions together with patient safety & care, proactive supportive government initiatives, and increase in acceptance of mHealth & telehealth practices have been driving this market. Further, growing adoption of smartphones is bolstering healthcare IT market growth.
Price Performance
Over the past year, shares of this Zacks Rank #3 (Hold) company have gained 1.3% compared with the industry’s rally of 29.9%.
Stocks to Consider
Some better-ranked stocks from the broader medical space include West Pharmaceutical Services, Inc. (WST - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and PerkinElmer, Inc. . While both PerkinElmer and West Pharmaceuticals sport a Zacks Rank of 1 (Strong Buy), Thermo Fisher carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PerkinElmer has a projected long-term earnings growth rate of 17.4%.
West Pharmaceutical has a projected long-term earnings growth rate of 17.4%.
Thermo Fisher has an estimated long-term earnings growth rate of 15%.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Image: Bigstock
Allscripts Enhances Healthcare Innovation With Patent Program
Allscripts Healthcare Solutions, Inc. (MDRX - Free Report) has recently been awarded five separate patents over the period of only eight days, which underscores its commitment toward delivering unique solutions to clients. The move also highlights its substantial momentum in health IT innovation.
Notably, Allscripts’ robust patent program is anticipated to add several additional patents throughout the remaining period of 2020 via innovation to enhance care delivery and connect the overall patient experience.
The strengthening of its patent program is likely to bolster Allscripts’ innovation portfolio.
Allscripts’ Role in Improved Healthcare Delivery
Allscripts has built a reputation of being a leader in healthcare technology and continues to capitalize on opportunities to boost its offerings. According to the company, healthcare solutions should be open and accessible to everyone, and cutting-edge innovation is the key to make that a reality.
Notably, each of the aforementioned awarded patents will help in simplifying and boosting healthcare delivery. For instance, one of the patents is an application that connects electronic health records (EHRs) to numerous wellness applications. This, in turn, will aid in higher level of patient engagement by offering frictionless goal-tacking functionality.
Allscripts has managed to develop a large-scale patent program with the help of substantial investment in software R&D. Notably, the program has more than 150 patents issued and another 150-plus of them still pending.
Recent Developments
Allscripts continues to focus on advancing healthcare innovation by offering unique solutions to healthcare organizations to deliver excellent care.
In August 2020, the company collaborated with Israel’s Sheba Medical Center to accelerate the pace of artificial intelligence technologies and boost patient care through the hospitals’ ARC (acronym for accelerate, redesign and collaborate) Innovation Center. Notably, ARC is the innovation unit of Sheba Medical Center and envisions to transform healthcare by 2030.
In July 2020, Allscripts extended its long-standing strategic alliance with Microsoft for five years. The deal will enable expanded development and delivery of cloud-based health IT solutions. The five-year extension will make Microsoft the cloud provider to Allscripts’ cloud-based Sunrise electronic health record (EHR) solution. With respect to co-innovation, this extension will help transform healthcare with smarter and more scalable technology.
Market Prospects
Per a report by Allied Market Research, the global healthcare IT (HCIT) market estimates that the market for HCIT solutions and services was $125 billion in 2015 and is projected to reach $297 billion by 2022, witnessing a CAGR of 13.2%.
Growing demand for quality healthcare services and solutions together with patient safety & care, proactive supportive government initiatives, and increase in acceptance of mHealth & telehealth practices have been driving this market. Further, growing adoption of smartphones is bolstering healthcare IT market growth.
Price Performance
Over the past year, shares of this Zacks Rank #3 (Hold) company have gained 1.3% compared with the industry’s rally of 29.9%.
Stocks to Consider
Some better-ranked stocks from the broader medical space include West Pharmaceutical Services, Inc. (WST - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and PerkinElmer, Inc. . While both PerkinElmer and West Pharmaceuticals sport a Zacks Rank of 1 (Strong Buy), Thermo Fisher carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PerkinElmer has a projected long-term earnings growth rate of 17.4%.
West Pharmaceutical has a projected long-term earnings growth rate of 17.4%.
Thermo Fisher has an estimated long-term earnings growth rate of 15%.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Click Here, See It Free >>