NextGen Healthcare, Inc. (NXGN - Free Report) recently announced that University Hospitals Health System (“UH”) has selected its NextGen Population Health to enhance patient care. This boosts NextGen’s foothold in the global electronic health records (EHR) space.
Notably, the company’s EHRs and health information exchanges will help better population health management by UH apart from reducing costs.
For investors’ notice, Ohio-based UH is one of the leading healthcare providers with 18 hospitals, more than 50 health centers and outpatient facilities and over 200 physician offices.
Population Health in Focus
NextGen Population Health along with Analytics Solutions offers a comprehensive platform which examines clinical, financial and patient-derived data. It also aggregates and analyzes patient data from various sources and produces a single, actionable patient record. This helps engage patients, reduce treatment costs and improve care quality.
Notably, an extra $192 billion is spent for treatment in a year. The Population Health platform is capable of addressing these issues through EHRs.
EHR Gaining Popularity in Healthcare
The advantages of EHRs in the clinical setting are numerous and significant. Considering the rapidly growing electronic interconnectivity of the health care world, EHRs dominate the headlines, thanks to time and cost saving.
For instance, HCIT bigwigs like Cerner Corporation (CERN - Free Report) and Allscripts Healthcare (MDRX - Free Report) have been gaining consistently from their coveted EHR platforms.
In fact, Transparency Market Research projects the global EHR market to reach $38.29 billion by 2025, at a CAGR of 5.7%.
We believe that positive developments such as these are likely to boost the Zacks Rank #4 (Sell) company whose shares have plunged 20.2% compared with the industry’s 9.9% decline.
A Key Pick
A better-ranked stock in the broader medical sector is Masimo Corporation (MASI - Free Report) .
Masimo’s long-term earnings growth rate is projected at 23.9%. The stock carries 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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