NextGen Healthcare, Inc.’s NXGN integrated platform was recently selected by Lake County Tribal Health, a Northern California-based community health center. The NextGen Enterprise Electronic Health Records (EHR), NextGen Enterprise Practice Management (PM) and NextGen Patient Experience Platform are among the solutions adopted by Lake County Tribal Health to enhance patient outcomes and optimize provider workflow.
Added to this, the community health center will implement NextGen Behavioral Health, NextGen Therapy Suite and NextGen Virtual Visits, ensuring that its 12,000 patients have safe and convenient access to care.
Management at NextGen believes that these solutions will allow highly integrated, whole-person health while ensuring that the company’s tribal health partners can deliver comprehensive and high-quality community care.
The adoption of this integrated platform is likely to bolster NextGen’s solutions portfolio.
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Lake County Tribal Health provides an array of services, including medical, dental, obstetrics, pediatrics, pain management, and other services, focusing on whole person care. The uptake of NextGen Virtual Visits significantly enhances Lake County Tribal Health’s capability to serve its patients, regardless of where they are located, thereby boosting outcomes by encouraging patients to seek necessary care.
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Per Lake County Tribal Health management, NextGen’s integrated platform is anticipated to provide its patients with the certainty that their doctors better understand their healthcare needs and history. This is essential to deal with the cultural sensitivities that exist within the community.
NextGen possesses the ability to deliver a robust reporting system that offers relevant analytics and addresses the complex requirements that a tribal federally qualified health center must comply with. The NextGen Enterprise platform will enable Lake County Tribal Health to expand its community care model while also improving provider productivity and simplifying its billing process. NextGen’s collaboration with Lake County Tribal Health demonstrates the former’s ability to customize solutions, emphasizing its clients’ top needs.
Per a report published in Allied Market Research, the global healthcare information technology market is expected to witness a CAGR of 13.3% from 2021 to 2030. Factors such as growing demand for quality healthcare services and solutions, increased acceptance of mHealth and telehealth practices, rising demand for improved patient safety and patient care and a surge in government initiatives to promote healthcare information technology are fuelling market growth.
Given the market prospects, the recent adoption of NextGen’s integrated platform by Lake County Tribal Health seems well-timed.
NextGen engaged in a number of significant developments in December 2021.
The company’s NextGen Enterprise platform was adopted by El Centro Family Health (El Centro), a nonprofit federally qualified health center, to serve its rapidly growing community in northern New Mexico. This solution comprises NextGen EHR, NextGen PM, NextGen Patient Experience Platform, NextGen EDI (electronic data interchange), NextGen Behavioral Health Suite and NextGen Virtual Visits.
The company’s comprehensive solution suite was leveraged by New Jersey-based Monmouth Family Health Center (Monmouth). Monmouth entrusted NextGen to administer a fully integrated, seamless platform that caters to medical, behavioral health and dental providers, assists with enhanced reporting and billing capabilities, and automates processes and workflows, following a complete capabilities assessment.
Share Price Performance
The stock has outperformed its industry over the past year. It has declined 2.9% versus the industry’s 56.5% fall.
Zacks Rank and Key Picks
Currently, NextGen carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are Baxter International Inc. BAX, Hologic, Inc. HOLX and Cerner Corporation CERN, each currently carrying a Zacks Rank #2 (Buy).
Baxter has a long-term earnings growth rate of 9.5%. Baxter’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 10.2%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Baxter has outperformed the industry over the past year. BAX has gained 11.6% against a 15.6% decline of the industry in the said period.
Hologic has a long-term earnings growth rate of 7.4%. HOLX surpassed earnings estimates in three of the trailing four quarters and missed on another occasion, delivering an average surprise of 29.2%.
Hologic has declined 15.5% compared with the industry’s 11.3% drop over the past year.
Cerner has a long-term earnings growth rate of 12.8%. CERN’s earnings surpassed estimates in three of the trailing four quarters and met estimates on another occasion, delivering an average surprise of 3.2%.
Cerner has gained 14.1% against the industry’s 56.5% slump over the past year.
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