Credit: Shutterstock photoDaVita Healthcare Partners Inc.DVA recently announced that it will implement an advanced electronic health record (EHR) from Epic Systems. Notably, Epic's EHR will enhance and develop technological capabilities within DaVita Physician Solutions' chronic kidney disease (CKD) EHR platform.
With the migration to EPIC software, DaVita joins the community of connected organizations, covering almost two-thirds of citizens in the United States. The partnership with EPIC will also create technology solutions for physicians, which are easy to use and efficient in providing correct data at the right time to improve quality.
Wisconsin-based Epic develops software, which enable patients to maintain sound health and facilitate future generations to be healthier. Currently, 190 million global patients have an electronic record in Epic.
DaVita HealthCare Partners Inc. Price and Consensus
DaVita HealthCare Partners Inc. Price and Consensus | DaVita HealthCare Partners Inc. Quote
Why EHR?
EHR is an individual's official health document that is shared among multiple facilities and agencies.
CKD and end-stage renal diseases lead to expenses, wherein coordination becomes critical. Effectively managing patients with CKD is important to ensure healthy transition to dialysis, if the patient contracts end-stage renal disease. Unprepared transition to dialysis makes a patient prone to infection, which may become incurable. Poor transition management is also costly.
Through this alliance with Epic, DaVita will provide the community, with information and insights to reduce costs and facilitate care.
What's Next?
DaVita Physician Solutions will be taking the next step in its evolution with Epic over the next 18-24 months. Existing customers will be offered a migration path to the new solution software for office-based DaVita CKD EHR.
Thriving Market Prospects
With the number of ESRD patients on dialysis expected to double to 850,000 in the next decade, focusing on the use of technology for healthy transitions becomes important.
According to a research conducted by MarketsAndMarkets, the healthcare IT market is projected to reach $208.25 billion by 2021, at a CAGR of 15.9%.
Growing demand to manage regulatory compliance through healthcare IT solutions, government support for the same and rising need to curtail escalating healthcare costs are key catalysts.
Shares Look Up
DaVita had an impressive run on the bourses over the last year. The stock has returned 23.8% against the industry 's loss of 0.3%.
Zacks Ranks & Stocks to Consider
DaVita carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are, Medpace Holdings Inc. MEDP , Neogen Corp. NEOG and Centene Corp. CNC , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank Stocks Here .
Medpace has an expected long-term growth rate of 13%. Over the last six months, the stock has outperformed the industry with a gain of 32.3%.
Neogen has an expected long-term growth rate of 15.3%. In the last six months, the stock has gained 15.3%, surpassing the industry's gain.
Centene has a projected long-term growth rate of 14%. Over the last six months, the stock has gained 30.8%, much higher than the industry's gain.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
