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Bowen Center Expands Access to Care via NextGen's (NXGN) Platform
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NextGen Healthcare, Inc. recently announced that Indiana-based Bowen Center will be leveraging NextGen Behavioral Health Suite. The platform, which integrates comprehensive physical, behavioral and oral health in one software solution, is being used by the center to improve the access to and delivery of whole-person care for the underserved patient pool.
For investors’ note, NextGen’s latest version of the platform is currently the only platform that combines comprehensive physical, behavioral, and oral health in one software solution. Thus, the integrated solutions aid in providing better care coordination between primary healthcare and mental health providers.
The latest announcement is expected to strengthen NextGen’s foothold in the global Clinical Care Solutions space.
Significance of the Announcement
The NextGen Behavioral Health Suite is expected to aid the Bowen Center by providing it access to all the information concerning a client’s total well being and treatment. This is also likely to help the center leverage automation within the platform to eradicate the requirement for multiple systems and to meet local, state and federal regulatory reporting needs.
Bowen Center’s management believes that while transitioning to an integrated care model, it is crucial to have an electronic health records system that supports both behavioral health and physical care services.
Per NextGen’s management, integrating mental health services with primary healthcare and improving patient access lead to better opportunities to improve outcomes. Further, integrated care delivery can significantly lessen the effects associated with the stigma surrounding mental health.
Industry Prospects
Per a report by Persistence Market Research, the global mental health software market revenues are anticipated to reach a value of $4.5 billion in 2021 $7.8 billion by the end of 2031 at a CAGR of 8%. Factors like growing awareness about mental illnesses, along with increasing workload and stress at workplaces, are likely to drive the market.
Given the market potential, the announcement is expected to significantly boost NextGen’s business worldwide.
Notable Developments
NextGen has witnessed a few notable developments across its business over the past few months.
The company, in June, announced that the NextGen Revenue Cycle Management Services have been adopted by Palmetto Retina Center (Palmetto) for its six locations in South Carolina.
In May, NextGen reported robust fiscal 2021 fourth-quarter results, where its Subscription services revenues registered strong uptick, led by strength in demand for patient-experience-related solutions.
The same month, the company announced the implementation of Application Programming Interface technology in support of COVID-19 vaccine administration programs in California.
Price Performance
Shares of the company have gained 48.9% in the past year compared with the industry’s 0.5% rise and the S&P 500 composite’s 38.7% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, NextGen carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are Veeva Systems Inc. (VEEV - Free Report) , AMN Healthcare Services Inc (AMN - Free Report) and National Vision Holdings, Inc. (EYE - Free Report) .
AMN Healthcare’s long-term earnings growth rate is estimated at 6.5%. It currently flaunts a Zacks Rank #1.
National Vision’s long-term earnings growth rate is estimated at 23%. It currently sports a Zacks Rank #1.
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Image: Shutterstock
Bowen Center Expands Access to Care via NextGen's (NXGN) Platform
NextGen Healthcare, Inc. recently announced that Indiana-based Bowen Center will be leveraging NextGen Behavioral Health Suite. The platform, which integrates comprehensive physical, behavioral and oral health in one software solution, is being used by the center to improve the access to and delivery of whole-person care for the underserved patient pool.
For investors’ note, NextGen’s latest version of the platform is currently the only platform that combines comprehensive physical, behavioral, and oral health in one software solution. Thus, the integrated solutions aid in providing better care coordination between primary healthcare and mental health providers.
The latest announcement is expected to strengthen NextGen’s foothold in the global Clinical Care Solutions space.
Significance of the Announcement
The NextGen Behavioral Health Suite is expected to aid the Bowen Center by providing it access to all the information concerning a client’s total well being and treatment. This is also likely to help the center leverage automation within the platform to eradicate the requirement for multiple systems and to meet local, state and federal regulatory reporting needs.
Bowen Center’s management believes that while transitioning to an integrated care model, it is crucial to have an electronic health records system that supports both behavioral health and physical care services.
Per NextGen’s management, integrating mental health services with primary healthcare and improving patient access lead to better opportunities to improve outcomes. Further, integrated care delivery can significantly lessen the effects associated with the stigma surrounding mental health.
Industry Prospects
Per a report by Persistence Market Research, the global mental health software market revenues are anticipated to reach a value of $4.5 billion in 2021 $7.8 billion by the end of 2031 at a CAGR of 8%. Factors like growing awareness about mental illnesses, along with increasing workload and stress at workplaces, are likely to drive the market.
Given the market potential, the announcement is expected to significantly boost NextGen’s business worldwide.
Notable Developments
NextGen has witnessed a few notable developments across its business over the past few months.
The company, in June, announced that the NextGen Revenue Cycle Management Services have been adopted by Palmetto Retina Center (Palmetto) for its six locations in South Carolina.
In May, NextGen reported robust fiscal 2021 fourth-quarter results, where its Subscription services revenues registered strong uptick, led by strength in demand for patient-experience-related solutions.
The same month, the company announced the implementation of Application Programming Interface technology in support of COVID-19 vaccine administration programs in California.
Price Performance
Shares of the company have gained 48.9% in the past year compared with the industry’s 0.5% rise and the S&P 500 composite’s 38.7% growth.
Zacks Rank & Stocks to Consider
Currently, NextGen carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are Veeva Systems Inc. (VEEV - Free Report) , AMN Healthcare Services Inc (AMN - Free Report) and National Vision Holdings, Inc. (EYE - Free Report) .
Veeva Systems’ long-term earnings growth rate is estimated at 15.8%. 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.
AMN Healthcare’s long-term earnings growth rate is estimated at 6.5%. It currently flaunts a Zacks Rank #1.
National Vision’s long-term earnings growth rate is estimated at 23%. It currently sports a Zacks Rank #1.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization,
Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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