Cerner Corporation CERN has recently been selected by North Central Health Care (“NCHC”) in order to implement Cerner’s electronic health record (EHR) at three multi-specialty behavioral health care facilities across Wisconsin. The agreement will enable Cerner to offer physicians, therapists and nurses with near real-time patient information to drive efficiencies, as well as boost care through industry-leading behavioral health technology.
With this agreement, Cerner is likely to strengthen behavioral health solutions. Notably, behavioral health is the scientific study of emotions, behaviors and biology related to a person's mental well-being.
Benefits of Cerner’s Behavioral Health Technology
On the back of Cerner’s foundational EHR, the company’s collaboration with NCHC is likely to help facilitate integrated care throughout its mental and behavioral health services, which include psychiatric, emergency, rehabilitation and much more.
Cerner’s patient portal solution that is available through the HealtheLife portal will enable it to better prepare health systems like NCHC to provide more care options to patients.
Cerner’s behavioral health technology lends support to the clinical and financial needs of inpatient, outpatient and community behavioral health providers throughout the United States.
In May 2020, Cerner collaborated with Hospital IQ — which is an intelligent automation company — to lend support to health systems with predictive analytics in order to boost clinical and operational awareness. With this partnership, Cerner is likely to bolster the already robust healthcare information technology (HCIT) footprint further.
Further, Cerner and Intermountain Healthcare — which is an integrated, not-for-profit health system — made an announcement of a multi-year expansion in February. The expansion reinforces both the organizations’ long-standing commitment toward improvement of safety, quality, and experience of health care for patients as well as caregivers.
Per a report by Allied Market Research, the global HCIT market is expected to reach $297 billion at a CAGR of 13.2% during the 2016-2022 period. Rise in demand for quality healthcare services and solutions along with patient safety and care, proactive supportive government initiatives, and increase in acceptance of mHealth and telehealth practices are the factors driving the market. Further, growing adoption of smartphones and patient-doctor convenience are contributing to the market’s growth.
This Zacks Rank #3 (Hold) stock has gained 3.3% in a year’s time compared with the industry’s growth of 8.1%.
Some better-ranked stocks from the broader medical space include Aphria Inc. APHA, HMS Holdings Corp. HMSY and West Pharmaceutical Services, Inc. WST. While Aphria and HMS Holdings carry a Zacks Rank #2, West Pharmaceutical sports a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
Aphria has an estimated long-term earnings growth rate of 24.6%.
HMS Holdings has an estimated long-term earnings growth rate of 11%.
West Pharmaceutical has a projected long-term earnings growth rate of 9.2%.
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