Cerner Corporation’s wholly owned subsidiary, Cerner Government Services, Inc., recently signed an agreement with the Department of Veterans Affairs (VA). Cerner aims to facilitate care to the veteran community through VA’s efficient integrated network.
Notably, Cerner Government Services provides industry-leading solutions to digitize paper processes from hospitals and ambulatory practices to public health and correctional agencies. Post announcement, Cerner’s share price inched up 1.2% to $61.34 at closing.
Cerner is expected to deliver its existing healthcare solutions to senior citizens by providing their care givers with a crisp medical history through a single electronic health record (EHR) system. We are optimistic that such developments will likely provide a cushion to the stock, which has lost 5% versus the industry’s 6.5% gain in a year’s time.
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Cerner has consistently prioritized health and wellbeing of the aged populace. Lately, the company also deployed its technologies at Department of Defense (DoD) medical facilities. Per management, this latest move will act as a catalyst for interoperability across the public and private health care sectors.
Furthermore, Cerner has been dominating headlines in a bid to digitize its EHR system. Last reported quarter, the company’s existing clients continued to migrate from legacy systems to Cerner Millennium, a Java and cloud-based automated library solution. Per management, Cerner has brought over 300 hospitals and more than 1200 ambulatory facilities under its revenue cycle solutions since 2017.
Moreover, the company foresees significant growth opportunities in the EHR market. Per statistics, there are more than 2,000 hospitals on the EHR platform, all need to be updated in the near future.
EHR Platform Evolution
Of late, Cerner saw a slew of developments on its EHR platform. Recently, Georgia-based Crisp Regional Health, Inc. deployed Cerner’s EHR and revenue cycle management solutions across its facilities with a view to lend a complete and real-time record of an individual’s heath.
Additionally, Cerner’s EHR and revenue cycle management solutions were selected by the Indiana Family and Social Services Administration (FSSA) to be integrated in its six state-run psychiatric facilities.
Market Prospects
Per a study by Markets and Markets, the healthcare IT (HCIT) market is expected to reach $280.25 billion by 2021 at a CAGR of 15.9%. Primary growth drivers of the market are high return on investment in HCIT solutions, government directives and the need to curtail escalating healthcare costs.
Zacks Rank & Key Picks
Cerner carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Abiomed, Inc. , Genomic Health, Inc. and Varian Medical Systems, Inc. .
Abiomed has a long-term earnings growth rate of 27%. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Genomic Health has an expected earnings growth rate of 187.5% and a Zacks Rank of 1.
Varian Medical has a projected long-term earnings growth rate of 8%. The stock carries a Zacks Rank #2 (Buy).
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Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Cerner-VA Pact to Use EHR Platform for Better Veteran Service
Cerner Corporation’s wholly owned subsidiary, Cerner Government Services, Inc., recently signed an agreement with the Department of Veterans Affairs (VA). Cerner aims to facilitate care to the veteran community through VA’s efficient integrated network.
Notably, Cerner Government Services provides industry-leading solutions to digitize paper processes from hospitals and ambulatory practices to public health and correctional agencies. Post announcement, Cerner’s share price inched up 1.2% to $61.34 at closing.
Cerner is expected to deliver its existing healthcare solutions to senior citizens by providing their care givers with a crisp medical history through a single electronic health record (EHR) system. We are optimistic that such developments will likely provide a cushion to the stock, which has lost 5% versus the industry’s 6.5% gain in a year’s time.
Cerner has consistently prioritized health and wellbeing of the aged populace. Lately, the company also deployed its technologies at Department of Defense (DoD) medical facilities. Per management, this latest move will act as a catalyst for interoperability across the public and private health care sectors.
Furthermore, Cerner has been dominating headlines in a bid to digitize its EHR system. Last reported quarter, the company’s existing clients continued to migrate from legacy systems to Cerner Millennium, a Java and cloud-based automated library solution. Per management, Cerner has brought over 300 hospitals and more than 1200 ambulatory facilities under its revenue cycle solutions since 2017.
Moreover, the company foresees significant growth opportunities in the EHR market. Per statistics, there are more than 2,000 hospitals on the EHR platform, all need to be updated in the near future.
EHR Platform Evolution
Of late, Cerner saw a slew of developments on its EHR platform. Recently, Georgia-based Crisp Regional Health, Inc. deployed Cerner’s EHR and revenue cycle management solutions across its facilities with a view to lend a complete and real-time record of an individual’s heath.
Additionally, Cerner’s EHR and revenue cycle management solutions were selected by the Indiana Family and Social Services Administration (FSSA) to be integrated in its six state-run psychiatric facilities.
Market Prospects
Per a study by Markets and Markets, the healthcare IT (HCIT) market is expected to reach $280.25 billion by 2021 at a CAGR of 15.9%. Primary growth drivers of the market are high return on investment in HCIT solutions, government directives and the need to curtail escalating healthcare costs.
Zacks Rank & Key Picks
Cerner carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Abiomed, Inc. , Genomic Health, Inc. and Varian Medical Systems, Inc. .
Abiomed has a long-term earnings growth rate of 27%. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Genomic Health has an expected earnings growth rate of 187.5% and a Zacks Rank of 1.
Varian Medical has a projected long-term earnings growth rate of 8%. The stock carries a Zacks Rank #2 (Buy).
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>