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HMS Holdings' Solution to Help Consumers Amid Coronavirus

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HMS Holdings Corp. (HMSY - Free Report) recently created a unique COVID-19 health engagement and communications solution, which has reached out to more than seven million individuals since its inception in March. The uncertainty resulting from the pandemic has made proactive outreach with regard to health plans, government agencies and employers extremely crucial in a bid to ensure that individuals and families are safe and healthy, while simultaneously keeping a tab on available resources.

Notably, the company’s Population Health Management platform is likely to get a boost from this new development.

Benefits of the New Solution

This new health engagement solution has been created using key metrics and benchmarking data from over four billion interactions with healthcare consumers. The multi-channel outreach programs are delivered through interactive voice response (IVR), SMS/text or email with customizations made on the basis of patient population, demographic, location and risk factors.

In order to lend support to consumers during the pandemic, these personalized communication strategies have been developed on the basis of an individual’s risk profile, self-reported survey data, behavioral science methodologies and health communications’ best practices. This, in turn, will result in optimal education and consumer activation.

Another Development

In order to meet the rising demand and urgency of consumer engagement during these difficult times, HMS Holdings created a COVID-specific rapid messaging program, which is powered by its health engagement solution — Eliza. This program allows healthcare organizations to proactively communicate and provide the right message to the right person at the right time.

Market Prospects

Per a report by Grand View Research, the U.S. population health management market is estimated to reach $62.2 billion in 2027 at a CAGR of 20.5%. Higher healthcare expenditure, need for value-based healthcare delivery and effective disease management throughout different care settings are the key catalysts.

Price Performance

Shares of the Zacks Rank #2 (Buy) stock have gained 1.2% in a year’s time, against the industry’s decline of 1.3%.

Other Key Picks

Some other top-ranked stocks from the broader medical space include Aphria Inc. (APHA - Free Report) , Laboratory Corporation of America Holdings (LH - Free Report) and West Pharmaceutical Services, Inc. (WST - Free Report) . While West Pharmaceutical sports a Zacks Rank #1 (Strong Buy), Aphria and Laboratory Corporation carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

West Pharmaceutical has a projected long-term earnings growth rate of 9.2%.

Aphria has an estimated long-term earnings growth rate of 24.6%.

Laboratory Corporation has an estimated long-term earnings growth rate of 6.1%.

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