Cerner Corporation’s (CERN - Free Report) coveted Cerner Millennium electronic health record (EHR) platform has been recently integrated with B. Braun Medical’s Infusomat Space Large Volume Pumps at the McLaren Greater Lansing Hospital, Michigan. Notably, this will help reduce medication administration errors through the use of real-time data.
Per management at B. Braun this integration marks the completion of its Synchronized Intelligence Infusion Platform with Cerner.
The latest development thus further fortifies Cerner’s foothold in the Healthcare IT (HCIT) industry.
Cerner Millennium in Focus
Cerner Millennium is an HCIT platform designed to support an individual’s care across the continuum – from the doctor’s office to the hospital and other venues of care.
Interestingly, the platform has seen some notable developments this year.
In May, Georgia-based Crisp Regional Health adapted to Cerner Millennium for better patient outcomes. (Read More: Cerner's EHR Picked by Crisp Regional, Shares Up)
Moreover, Maine-based Mayo Regional Hospital has transitioned to Cerner Millennium, with an aim to maintain a digital record of their patients’ health history. Additionally, University of Missouri Health Care has extended its Cerner Millennium domain to Capital Region Medical Center.
Trade Market Research opines that the global HCIT consulting market is projected to reach $77.99 billion by 2025, at a CAGR of 19.7%.
Hence, the latest move has been a well-timed one for Cerner.
EHR — A Popular Trend in Healthcare
The field of healthcare is currently witnessing increasing digitization of patient records. Cerner has been dominating the headlines, courtesy of its efforts to digitize EHR systems. The company’s HealtheIntent also provides it with significant exposure to AI trends.
Some other key players of the industry are, athenahealth (ATHN - Free Report) and Allscripts Healthcare Solutions (MDRX - Free Report) . athenahealth’s cloud-based big data network — athenaNet and Allscripts’ FollowMyHealth patient engagement platform deserve mention in this regard.
We believe positive developments such as these will provide cushion to the stock which has declined 14.1% compared with the industry’s 10.7% in a year’s time. The current level is also lower than the S&P 500 index’s 7.3% rise.
The stock currently has a Zacks Rank #4 (Sell).
A better-ranked stock from the broader medical space is Baxter International (BAX - Free Report) .
Baxter’s long-term earnings growth rate is projected at 12.4%, The stock has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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