3M Health Information Systems, part of 3M Company (MMM), recently signed an agreement with MedPartners HIM to offer outsourced staffing services for clinical documentation improvement (CDI). The outsourcing service will help hospitals and health organizations manage long-term CDI staffing required for organizational CDI initiatives.
The 3M Clinical Documentation Improvement (CDI) system is designed to provide interactive clinical documentation guidelines in an automated documentation review setting. There is an increasing demand for these CDI specialists in health organizations. Joining hands with MedPartners will further help these hospitals to achieve precise clinical documentation, accurate quality outcomes data and reimbursement to maintain regulatory compliance. 3M also has a proven expertise in CDI and delivers expert consulting and advanced software to help hospitals improve their documentation and records.
MedPartners provides consulting, staff augmentation and human capital solutions for short- and long-term projects. This agreement will further help 3M to achieve a consulting program that is customized to clients’ needs and documentation quality goals.
3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries. The company aims to deliver innovative security solutions to businesses and governments worldwide, thus maintaining the security of people and documents.
3M remains focused on inventing new products and maintaining its competitive advantage worldwide. The rise in demand for such innovative 3M product services is likely to augment its overall revenues.
3M currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Federal Signal Corp (FSS), ITT Corporation (ITT) and LSB Industries Inc (LXU), each having a Zacks Rank #2 (Buy).