Allscripts Healthcare Solutions, Inc (MDRX - Free Report) business unit Veradigm, a leading provider of data and technology solutions, recently inked a deal with Surescripts to enhance its Veradigm AccelRx specialty medication fulfillment solution with Surescripts Specialty Patient Enrollment. The deal will enable AccelRx to support healthcare providers in fulfilling prescriptions faster for hundreds of more types of specialty medications. This will be done by incorporating Surescripts’ extensive health information network, further streamlining healthcare providers’ management of specialty medication within their electronic health record (EHR) workflow.
This deal is specifically expected to bolster Allscripts’ Clinical and Financial Solutions segment.
For investors’ notice, specialty medications are likely to represent up to 50% of the total drug expenditure, thereby accounting for less than 3% of all prescriptions written in the United States in 2020.
More About the Partnership
Veradigm AccelRx delivers a unique software platform developed to streamline specialty medication fulfillment. The platform is the result of a combination of healthcare’s largest prescriber bases with broad industry partnerships established over decades of e-prescribing and prior authorization leadership.
The Veradigm-Surescripts partnership is expected to strengthen the ability of Allscripts’ network of healthcare providers to curb or eliminate the many phone calls and faxes associated with enrolling patients for specialty medication prescriptions. This deal will allow Veradigm AccelRx to deliver a solution for hundreds of specialty medications and help Allscripts swiftly progress with covering every specialty medication for every therapeutic area.
Veradigm AccelRx, in collaboration with Surescripts, should be able to deliver the tools healthcare providers need to overcome the existing loopholes and expedite the specialty medication fulfillment process. This will be done by helping providers enroll patients under specialty programs in the EHR and coordinating information sent to the pharmacy, while the patient is in their office.
An accurate, electronic workflow will ensure that patients get faster essential therapies and better outcomes.
Per a report by ResearchandMarket.com, global specialty pharmaceuticals market is expected to reach a worth of $568 billion by 2026. Hence, the deal comes at an opportune time.
In March 2020, Allscripts created a specialized plan for clients to swiftly implement telehealth at their organizations through its EHR-agnostic patient engagement platform, FollowMyHealth. Through this, the company’s clients signed up to deliver telehealth visit capabilities swiftly to their patients. This is also expected to have bolstered the company’s Clinical and Financial Solutions segment.
In the past year, the stock has lost 39.1% against 4.8% growth of its industry.
Zacks Rank and Key Picks
Allscripts currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Aphria (APHA - Free Report) , DexCom (DXCM - Free Report) and Pacific Biosciences (PACB - Free Report) . You can see the complete list of today’s Zacks #1 Rank(Strong Buy) stocks here.
Aphria’s long-term earnings growth rate is estimated at 24.6%. The company presently carries a Zacks Rank #2 (Buy).
DexCom’s long-term earnings growth rate is estimated at 36.3%. The company presently carries a Zacks Rank #2.
Pacific Biosciences’ long-term earnings growth rate is estimated at 30%. It currently carries a Zacks Rank #2.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>