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Smith+Nephew Unveils Digital Platform to Boost Patient Care

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Smith & Nephew plc (SNN - Free Report) , also known as Smith+Nephew, recently launched ARIA, a digital platform and application developed to connect delivery of patient care with providers throughout the surgical and clinical episode. Notably, ARIA is fueled by the company's Real Intelligence digital ecosystem and Positive Connections ASC solutions program.

This development is expected to boost the company’s Global Orthopaedics segment.

More on the ARIA Platform

With the help of this platform, the company aims to help clinicians reduce the patient's post-acute recovery time, develop efficiencies that cut down costs and deliver key Patient Reported Outcome Measures (PROMs) and satisfaction data to better define value for both patient and the site of care. The platform comprises customizable patient engagement pathways and facilitates connected, automated communication between the care navigator and patient. Additionally, ARIA exhibits dashboards that provide visibility for the patient and help lessen variability in clinical outcomes.

Apart from these, the platform ensures secure communication with referring providers and generates data that ambulatory surgery centers or clinical practices may utilize when communicating with payers.

ARIA will help customers leverage digital connectivity with patients and their referral network to break down traditional barriers, thereby improving patient compliance and reducing readmission risk utilizing objective data.

For investors’ notice, Smith+Nephew acquired two digital technology products — MiJourney and Rapid Recovery Pathways — in February 2020. The foundation for ARIA was designed on MiJourney, and Rapid Recovery Pathways will be integrated into the platform later this year.

Recent Development

In July 2020, the company announced the launch of the RI.HIP NAVIGATION for total hip arthroplasty (THA). This new technology has been developed to help maximize precision and reproducibility by delivering patient-specific component alignment — a crucial factor for surgeons in the evaluation of individual THA cases. This is also expected to boost the company’s Orthopaedic segment.

Market Prospects

Per a report by Grand View Research, the global orthopedic software market size was estimated at $284.6 million in 2018 and is anticipated to see a CAGR of 5.8% during the forecast period of 2019-2026. Hence, this launch is a well-timed one.

Price Performance

Over the past year, the stock has lost 13.5% compared with the broader industry’s decline of 3.4%.

Zacks Rank & Stocks Worth a Look

Smith + Nephew currently carries a Zacks Rank #4 (Sell).

A few better-ranked stocks from the broader medical space include OPKO Health (OPK - Free Report) , Surmodics (SRDX - Free Report)  and Merit Medical Systems (MMSI - Free Report) .

OPKO Health’s long-term earnings growth rate is estimated at 12%. The company presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Surmodics’ long-term earnings growth rate is estimated at 10%. The company presently carries a Zacks Rank #2.

Merit Medical Systems’ long-term earnings growth rate is estimated at 11.9%. It currently carries a Zacks Rank #2.

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