PRA Health Sciences, Inc. PRAH recently enhanced its commercial Health Harmony COVID-19 Monitoring Program by integrating it with the Microsoft Healthcare Bot service. Users of the PRA Health Harmony digital platform, enrolled under the organization’s COVID-19 Monitoring Program, can use the AI-based chatbot which can recognize and respond to COVID-19-related queries.
This development is likely to boost PRA Health’s Data Solutions segment, which offers data, analytics, technology and consulting solutions to the life sciences market.
More About the Platform
Through an array of conversational queries and interactions within PRA’s Health Harmony digital health platform, the COVID-19 chatbot compares users’ symptoms to U.S. Centers for Disease Control guidance and then recommends one of the three available COVID-19 programs under which they should enroll. For users of the Health Harmony app, the enrollment experience becomes more customized as it can precisely determine the level of COVID-19 patient care needed. For organizations that have deployed PRA Health’s COVID-19 Monitoring Program, the integration allows them to understand patient flow and to monitor, educate and personalize care with greater agility. With this collaboration, patients’ health and wellbeing are likely to be benefitted immensely.
As a result of collaborating with leading companies like Microsoft, PRA Health is equipped to deliver path-breaking new models of patient care as their needs evolve, especially in times of crisis. With this app, patients can monitor symptoms and self-manage their COVID-19-related care. Hence, through this app, PRA Health is allowing patients more control and greater access to individualized healthcare on their own devices and schedule.
Notably, in May, PRA Health launched the program and the Health Harmony mobile app, with the integration of the COVID-19 Healthcare Bot service, to more than 7,000 employees in the United States. Since March, thousands of users from all over the world have downloaded the PRA Health Harmony app and enrolled under the COVID-19 Monitoring Program.
In April, PRA Health announced that Symphony Health, a PRA Health Sciences subsidiary, will make a 30-day license of its newly-launched Metys COVID-19 Module. The COVID-19 Module within the Metys platform will offer up to three users per company access to all drugs and markets within any U.S. geographic region down to CBSA (core-based statistical area).
In March, PRA Health announced the expansion of its market-leading Mobile Health Platform, which has been designed to facilitate remote clinical monitoring. This has been done by adding several new capabilities that cater to sponsor needs for COVID-19 virtual study support.
Per a report by MarketWatch.com, the life science analytics market is projected to see a CAGR of 11.91% during the 2019 to 2025 period. It valued $19.16 billion in 2018.
In the past year, the company’s shares have outperformed the industry. The stock has lost 1.9% compared with the industry’s 22.8% decline.
Zacks Rank and Key Picks
PRA Health currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are Aphria APHA, Biogen BIIB and HMS Holdings HMSY.
Aphria’s long-term earnings growth rate is estimated at 24.6%. The company presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biogen’s long-term earnings growth rate is estimated at 14%. The company presently carries a Zacks Rank #2.
HMS Holdings’ long-term earnings growth rate is estimated at 10%. It currently carries a Zacks Rank #2.
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