Allscripts Healthcare Solutions Inc. (MDRX - Free Report) recently announced that NY-based Wyckoff Heights Medical Center has selected the Sunrise Abstracting solution. For investors’ notice, Wyckoff Heights offers outpatient services, health education and screening programs at community ambulatory care centers.
What is Sunrise Abstracting solution?
Sunrise Abstracting complements the company’s flagship Allscripts Sunrise electronic health record (EHR).
Per management, it is a powerful chart-abstracting solution that establishes the highest level of documentation and coding quality for healthcare providers.
Wyckoff Heights selected the platform to address the issues of fragmented coding workflow and potential coding inaccuracies while providing a strong reporting solution.
Solid Prospects in Sunrise Platform
We believe that the Sunrise EHR platform is an important growth driver for Allscripts. The company is gaining popularity among hospitals and healthcare systems on the back of the platform with increased sales to new domestic and international clients.
Of the recent developments in the platform, Catholic Medical Center recently announced that it has expanded its portfolio of Allscripts solutions. This was a multi-year expansionary move signed in 2017. Catholic Medical Center is likely to add integrated suite of Sunrise solutions that include Sunrise Ambulatory Care, Sunrise Emergency Care, Sunrise Surgical Care, Sunrise Radiology, Sunrise Financial Manager, Sunrise Enterprise Registration and Scheduling, Sunrise Critical Care, Sunrise Mobile MD as well as Sunrise Mobile Care.
Furthermore, Grants Pass, an existing EHR client of the company, adopted Allscripts PM along with revenue cycle management services.
In the past year, shares of Allscripts have gained 7.9% compared with the industry's rise of 7.6%.
However, the performance is unfavorable when compared with S&P 500's return of 16.2%.
The stock has a Zacks Rank #3 (Hold).
Want More from the MedTech Space?
A few better-ranked stocks in the MedTech space are Penumbra, Inc (PEN - Free Report) , Masimo Corporation (MASI - Free Report) and Illumina, Inc (ILMN - Free Report) . Penumbra and Illumina sport a Zacks Rank #1 (Strong Buy). Masimo currently carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
Penumbra has a long-term expected earnings growth rate of 20%, while the same for Masimoand Illumina is pegged at 14.8% and 22.1%, respectively.
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