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NextGen Healthcare's (NXGN) Solutions Selected by MHHC

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NextGen Healthcare, Inc. (NXGN - Free Report) recently announced that NextGen Enterprise Electronic Health Records (EHR) and Practice Management (PM) Solutions have been chosen by Morris Heights Health Center (MHHC). This selection by MHHC — a leading NY-based Federally Qualified Health Center (FQHC) — will enable this center to serve its rapidly growing community in a better manner.

It is worth mentioning that MHHC, along with its more than 120 healthcare providers, offers care and treatment to the underserved populations across New York. MHHC delivers primary, specialty, dental, behavioral health and social services throughout its health center locations.

In fact, MHHC selected NextGen Enterprise to exchange patient medical records conveniently and provide all-inclusive care to its above 57,000 patients while benefiting from critical data-driven insights to enhance clinical decision-making.

This announcement is likely to boost the demand for NextGen Healthcare’s solutions.

More on the News

Per management at MHHC, the collaboration with NextGen Healthcare will help the former to provide the care that the residents of the Bronx area and beyond require and deserve.

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Per management at NextGen Healthcare, the company’s goal is to help provide improved healthcare outcomes for all. Given the plans to extend care services across New York City, MHHC recognized the benefits of NextGen Healthcare’s solutions’ integrated functionality plus action-driven insights.

Market Prospects

Per a report by Grand View Research, the global electronic health records market was estimated at $27.2 billion in 2021 and is expected to witness a CAGR of 4% from 2022 to 2030. Hence, this announcement comes at an opportune time for NextGen.

Recent Developments

This month, the company collaborated with Circuit Clinical to bring clinical trial access to patients of FQHCs across over 14,000 providers that use NextGen’s solutions.

In March, NextGen Healthcare announced the newest release of its NextGen Behavioral Health Suite. The suite, which builds upon the company’s NextGen Enterprise EHR and practice management system, is currently the first platform to integrate comprehensive physical, behavioral health, human services and oral health in one software solution.

Price Performance

Shares of this Zacks Rank #4 (Sell) company have gained 0.7% on a year-to-date basis against the industry’s decline of 31.7%.

Stocks to Consider

Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Masimo Corporation (MASI - Free Report) and Veeva Systems, Inc. (VEEV - Free Report) .

AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 15.6%. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare’s long-term earnings growth rate is estimated at 1.1%. The company’s earnings yield of 11.4% compares favorably with the industry’s (0.8%).

Masimo beat earnings estimates in each of the trailing four quarters, the average surprise being 4.4%. The company currently carries a Zacks Rank #2 (Buy).

Masimo’s estimated earnings growth rate for second-quarter 2022 is pegged at 22.3%. The company’s earnings yield is pegged at 3.8% against the industry’s (8.5%).

Veeva Systems surpassed earnings estimates in each of the trailing four quarters, the average surprise being 9.6%. The company currently carries a Zacks Rank #2.

Veeva Systems’ long-term earnings growth rate is estimated at 18.1%. The company’s earnings yield of 2.4% compares favorably with the industry’s 0.2%.