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NextGen (NXGN) Strengthens Portfolio of NextGen Solutions

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NextGen Healthcare, Inc. (NXGN - Free Report) recently announced that NextGen Enterprise has been chosen by Orthopaedic & Sports Medicine Center (OSMC) as its core electronic health record (EHR) and practice management (PM) solution. Notably, OSMC is a premier orthopedic center in the northeast region of Kansas.

Being a fully integrated, single database platform, NextGen Enterprise with Orthopedic Suite provides intuitive clinical workflows created for complicated orthopedic organizations, which offer patients a consolidated, non-surgical and rehabilitation experience. The whole NextGen platform has been taken on by OSMC that includes NextGen Therapy Suite and NextGen Virtual Visits.

This deal is likely to boost NextGen’s robust portfolio of NextGen solutions.

More on the News

NextGen — a leading provider of ambulatory-focused technology solutions — will help in the process of improving patient experience, resulting in the enhancement of clinical and financial outcomes.

NextGen’s musculoskeletal integration solution will not only help OSMC to extend its reach and boost operations and efficiency but also strengthen its portfolio of solutions that can strengthen the company’s presence in the global healthcare information technology (HCIT) space.

Market Prospects

Per a report by Allied Market Research, the global HCIT market is expected to reach $297 billion at a CAGR of 13.2% during the 2016-2022 period. Rise in demand for quality healthcare services and solutions, and patient safety and care, proactive supportive government initiatives, and increase in acceptance of mHealth and telehealth practices are the primary factors driving the market. Further, growing adoption of smartphones and patient-doctor convenience are contributing to the market’s growth.

Recent Developments

This month, NextGen introduced a fully integrated platform offering optometry-specific workflow, thereby helping providers to offer proper care to patients with low vision and binocular vision problems, efficiently.

In September, the company announced that the next generation of its behavioral health suite is available. This health suite, backed by a renowned EHR and PM system, is the industry’s only platform that combines comprehensive physical, behavioral and oral health in one software solution.

Price Performance

Shares of this Zacks Rank #3 (Hold) company have lost 6.7% in a year’s time, against the industry’s rally of 24.7%.

Stocks to Consider

Some better-ranked stocks from the broader medical space include Cardinal Health Inc. (CAH - Free Report) , Align Technology, Inc. (ALGN - Free Report) and Patterson Companies Inc. (PDCO - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Cardinal Health has a projected long-term earnings growth rate of 5.4%.

Align Technology has an estimated long-term earnings growth rate of 18.3%.

Patterson Companies has a projected long-term earnings growth rate of 8.9%.

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