Cerner Corporation CERN recently announced a collaboration with Vynca — a national leader in advance care planning solutions — to streamline the complicated advance care planning procedure for individuals and families, caregivers and clinicians in a bid to ensure patients’ end-of-life preferences and needs are met every single time. The partnership will allow Cerner and Vynca to break down the digital barrier between legal documents and electronic health records (EHRs), thereby making it simpler for clinicians to carry out the process.
Notably, Palo Alto, CA-based Vynca offers comprehensive advance care planning technology solutions, which help health care organizations to deliver high-quality end-of-life care consistent with an individual's preferences.
This partnership is likely to provide a boost to Cerner Millennium — a health care information technology (HCIT) platform designed to support an individual’s care across the continuum — from the doctor’s office to the hospital and other venues of care.
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The partnership will enable the integration between Vynca’s digital solution and Cerner Millennium EHR. This will allow clinicians to look at relevant patient information and the patient’s future care preferences all in one place, thereby lowering risk of error and enhancing efficiency by avoiding going back and forth between different sources. The partnership will help in augmenting accessibility and usability through the availability of advance care documents in the patient portal.
By simplifying the process, patients and their clinicians can now have early discussions and make critical end-of-life decisions. Cerner continues to remain committed toward giving support to its clients by helping clinicians with data that enables them to deliver smarter and more insightful care.
This month, Cerner inked a deal with Finland regional leadership with an aim to deliver more coordinated and efficient access to health and social services via a government-sponsored set of standards. Notably, this collaboration will not only strengthen Cerner’s foothold in the HCIT space but also expand its presence geographically.
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, and patient safety and care, proactive supportive government initiatives, and increase in acceptance of mHealth and telehealth practices are the primary factors driving the market. Further, growing adoption of smartphones and patient-doctor convenience are contributing to the market’s growth.
Shares of this Zacks Rank #4 (Sell) company have gained 1.6% in a year’s time compared with the industry’s rally of 32.6%.
Stocks to Consider
Some better-ranked stocks from the broader medical space include Merit Medical Systems, Inc. MMSI, Thermo Fisher Scientific Inc. TMO and CONMED Corporation CNMD, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Merit Medical has a projected long-term earnings growth rate of 12%.
Thermo Fisher has an estimated long-term earnings growth rate of 15%.
CONMED has a projected long-term earnings growth rate of 10.8%.
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