NextGen Healthcare, Inc. (NXGN - Free Report) recently announced that the next generation of its behavioral health suite is available. This health suite, backed by a renowned electronic health record (EHR) and practice management system, is the industry’s only platform that combines comprehensive physical, behavioral and oral health in one software solution.
This new behavioral health suite is likely to boost NextGen’s broad solutions portfolio.
More on NextGen Behavioral Health Suite
Notably, this behavioral health suite is an upgraded software solution, which includes the most advanced capabilities from the company’s Topaz Information Solutions buyout (announced on Oct 23, 2019), with new features and specialized content.
This behavioral suite brings in packet navigation that will enable clinicians to define workflows without the need of outside assistance. Further, the suite will lower the total cost of ownership with the help of improved clinical content for targeted treatment. Apart from this, electronic medication administration record (eMAR) and bed board solutions will help clinicians in documenting inpatient and residential settings through single sign-on.
Per management, the introduction of this behavioral health suite comes at an important time as many people have been suffering from various behavioral health conditions during the COVID-19 pandemic. With this solution, there will be easy data exchange throughout the care continuum and mobile access, thereby enabling clinicians to offer informed care outside of a clinic or office setting.
In Aug 2020, Virginia Cardiovascular Specialists — the largest private cardiology practice in Central Virginia — implemented NextGen Virtual Visits to extend care and treatment for non-urgent visits utilizing telehealth during the COVID-19 pandemic.
In July, NextGen announced that Nevada Eye Physicians, a comprehensive eye care facility in the Las Vegas area, is utilizing NextGen Enterprise with integrated telehealth capability called NextGen Virtual Visits.
In June, the company announced that Capital Women’s Care, OB/GYN private practice in the mid-Atlantic region, has utilized NextGen Virtual Visits for the expansion of women’s healthcare services during the pandemic.
Per a report by Grand View Research, the global behaioral health care software and services market valued at $2.1 billion in 2019 and is anticipated to see a CAGR of 11.1% over the forecast period (2020-2027). Hence, the announcement of the availability of the health suite is a well-timed one.
Shares of this Zacks Rank #2 (Buy) company have lost 13% in a year’s time, against the industry’s growth of 30.7%.
Other Stocks to Consider
Some other top-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. (PKI - Free Report) . While PerkinElmer sports a Zacks Rank of 1 (Strong Buy), both Thermo Fisher and West Pharmaceuticals carry a Zacks Rank #2. 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%.
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