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NextGen's (NXGN) HDH to Facilitate Health Information Exchange

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NextGen Healthcare, Inc. (NXGN - Free Report) recently announced that its NextGen Health Data Hub (HDH) has been chosen by HI-BRIDGE HIE (health information exchange). This will enable HIE administrators to build rules-driven data exchange to facilitate automated routing of patient information across the group of care.

Notably, NextGen HDH is a cloud-based HIE platform that lends support to secure sharing of patient health data from numerous sources.

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

More on the News

NextGen HDH is an advanced solution offering built-in patient matching, an API-first design, a provider portal and support for behavioral health data protection. HDH provides support to all the clinical data types that are utilized by in-patient and ambulatory health systems. Moreover, the solution’s solid data normalization abilities allow all connected systems to interoperate successfully.

With this collaboration, NextGen will be part of and support the future data exchange in the greater Atlanta region. Further, the company remains confident that the choice of HDH can bolster greater interoperability, data access and clinical insights for all connected providers.

Market Prospects

Per a Medgadget report, the global health information exchange market was worth $1.19 billion in 2018 and is anticipated to reach $2.18 billion by 2025, witnessing a CAGR of 8.9% over the forecast period. Hence, this announcement is a well-timed one for NextGen.

Recent Developments

This month, NextGen announced that its client — Bridges Health Partners LLC — has managed to boost quality of patient care and attain value-based care financial goals throughout its wide network of 1,100 physicians with the aid of NextGen Population Health. Additionally, Bridges Health has exceeded its savings objectives (nearly $20 million) for two consecutive years.

In November, the company 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.

Price Performance

Shares of this Zacks Rank #3 (Hold) company have gained 19.4% in a year’s time, compared with the industry’s rally of 32.4%.

Stocks to Consider

Some better-ranked stocks from the broader medical space are Merit Medical Systems, Inc. (MMSI - Free Report) , Align Technology, Inc. (ALGN - Free Report) and Thermo Fisher Scientific Inc. (TMO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Merit Medical has a projected long-term earnings growth rate of 12.6%.

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

Thermo Fisher has a projected long-term earnings growth rate of 18%.

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