Allscripts Healthcare Solutions Inc. MDRX recently announced a strategic partnership with Opargo, a SaaS platform, to strengthen Allscripts Practice Management revenue cycle software.
In a year’s time, shares of this Zacks Rank #3 (Hold) company have lost 17.4% against the industry's 4.8% growth. The current level also compares unfavorably with the S&P 500 index's gain of 4.3% over the same time frame.
However, the company is on a spree of positive developments and strategic deals, which might provide it with a solid ground to perform better in the days to come.
More About Opargo
Opargo leverages on predictive analytics to ensure that critical patients have hospital slots available, even at the last minute. Adoption of these solutions is likely to have a solid impact on Allscripts customer base and the health care industry as a whole.
Furthermore, Opargo is likely to improve scheduling capabilities and practice workflows of Allscripts Practice Management solution — a comprehensive revenue cycle management solution for physician’s practices and large hospital organizations.
Revenue Cycle Market’s Prospects Bright
Per Markets and Markets, the global revenue cycle management market is expected to reach a worth of $90.43 billion by 2022 from $45.59 billion in 2016, multiplying at a CAGR of 12.1%.
Considering the bountiful prospects, Allscripts’ latest development can be considered as a well-timed one.
Recently, Allscripts announced that it has strengthened its strategic relationship with Pulse8, a leading player in healthcare analytics and technology (read more: Allscripts Strengthens Strategic Relationship with Pulse8).
The company also announced that Qatar-based Alfardan Group and Chicago-based Northwestern Medicine have selected it to provide ambulatory care services for the launch of a project — ‘Alfardan Medical with Northwestern Medicine’ (read more: Allscripts to Fortify Middle East Foothold With New Project).
Want More From the MedTech Industry?
A few better-ranked stocks from the MedTech space are ABIOMED, Inc. ABMD, IDEXX Laboratories, Inc. IDXX and Wright Medical Group N.V. WMGI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ABIOMED’s long-term expected earnings growth rate is projected at 27.7%.
IDEXX Laboratories delivered a positive earnings surprise in each of the trailing four quarters, the average being 7.2%.
Wright Medical Group has a long-term expected earnings growth rate of 11.3%.
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