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HCA Healthcare (HCA) Ties Up for Accelerating Digital Processes

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HCA Healthcare, Inc. (HCA - Free Report) recently collaborated with the leading cloud computing services provider Google Cloud. The multi-year partnership will enable HCA Healthcare to make use of healthcare data, analytics and AI offerings of Google Cloud.

The tie-up aims to devise a data analytics platform for HCA Healthcare, which will lead to creation of enhanced operational models offering valuable insights. This will strengthen the company’s digital transformation efforts and enhance its clinical and operational efficiencies.

Moreover, Google Cloud seems to be the apt partner for accelerating digital transformation endeavors of HCA Healthcare. The former utilizes best-in-class technology, platform and industry solutions for digital transformation of businesses.

With the tie-up, HCA Healthcare can avail improved real-time decision making tools and offer necessary assistance to caregivers. Besides, HCA Healthcare makes use of advanced security controls and processes for safeguarding patients and their personal data.

Through the recent move, the company’s clinicians will be provided with enhanced workflow tools and analytics. They will also be alerted on their mobile devices for proper navigation and necessary actions can be undertaken on any change observed in a patient’s condition.  

The tie-up will also provide a boost to the company’s non-clinical assistance tools as well. Streamlined operations will benefit the company’s operations of supply chain, human resources and physical plant.

As evidence of its digital transformation efforts, HCA Healthcare has undertaken significant investments to distribute mobile devices. These devices are backed with tools developed by the company, which minimizes the burden of caregivers in offering clinical care.

The healthcare provider has been making constant efforts to develop its telemedicine products suite as well. In 2020, it acquired a 40% stake in a telemedicine firm.

Zacks Rank & Price Performance

Shares of this Zacks Rank #2 (Buy) healthcare provider have soared 92.9% in a year compared with the industry’s rally of 87.8%.

Other Stocks to Consider

Some other top-ranked stocks in the medical space are Tenet Healthcare Corporation (THC - Free Report) , Select Medical Holdings Corporation (SEM - Free Report) and The Joint Corp. (JYNT - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Tenet Healthcare, Select Medical and Joint Corp. have a trailing four-quarter earnings surprise of 106.38%, 245.91% and 199.17%, on average, respectively.

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