LHC Group, Inc. LHCG recently announced expansion of its partnership with Medalogix. The aim is to implement Medalogix Bridge in multiple markets. Per management, the implementation will be completed by the first quarter of 2020.
For investors’ notice, Tennessee-based Medalogix is a leading provider of data science in home health.
How Will LHC Group Gain?
The Medalogix Bridge is an evidence-based software solution that leverages millions of historical home health episodes and data points to identify patients currently in curative care who have a high risk of mortality.
Per management, the aim of the expansion is to improve value-based care and reduce treatment costs for patients.
LHC Group has also been a long-term user of Medalogix Nurture and will expand to additional locations in the first quarter of 2020.
These leading solutions will help ensure that patients have a choice for the right care at the right time, allowing home health providers deliver appropriate level of care.
It is encouraging to note that in recent times, the company has agreed to acquire 17 home health, eight hospice and two home and community-based services locations, the majority of which are hospital joint ventures. These acquisitions represent around $86.7 million in annualized revenues.
Earlier this month, the company expanded its existing joint venture with LifePoint Health with a view to share ownership and governance of LifePoint's home health agencies and hospices as well as select LHC Group agencies located near LifePoint facilities.
The global home healthcare market is expected to reach a worth of $557.57 billion at a CAGR of 7.8%, per
Grand View Research. Improved patient outcome, cost-efficiency and patient convenience provided by home healthcare are to fuel growth.
Hence, the latest development is a well-timed one for LHC Group.
In a year’s time, the Zacks Rank #2 (Buy) company has rallied 38.6% against the
industry’s 7.8% decline. Other Key Picks
Other top-ranked stocks from the broader medical space are CONMED Corporation
CNMD, HealthEquity HQY and West Pharmaceutical Services ( WST Quick Quote WST - Free Report) . While CONMED and West Pharmaceutical currently carry a Zacks Rank #2, HealthEquity sports a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here
Conmed has a long-term earnings growth rate of 17%.
HealthEquity has a long-term earnings growth rate of 25%.
West Pharmaceuticals has a long-term earnings growth rate of 14%.
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