Cerner Corp. CERN recently announced that it has reached an agreement with Qualcomm Life, Inc., a subsidiary of Qualcomm Inc. QCOM, to extend the scope of its medical device connectivity expertise, from hospitals to the home space.
Cerner will use Qualcomm Life's FDA listed 2net Platform and Hub to obtain data from medical devices and sensors within a patient's home. The data will then be passed on to Cerner healthcare clients with the help of Cerner's CareAware device connectivity platform. This initiative is expected to help care providers monitor chronically ill patients in near real-time and reduce the risk of any aggravation.
Qualcomm Life's 2net Platform is known for collecting and storing multiple patient data, obtained from connected medical devices. Cerner’s CareAware will then transfer these data to the Cerner Millennium electronic health record (EHR) following which the patient will be able to view it on Cerner's patient engagement solution, HealtheLife. Agnesian HealthCare is the first enterprise client that will stand to benefit from the use of this combined technology.
The initiative to extend Cerner’s CareAware device connectivity platform to connect devices within the home to the patient's EHR will help health care organizations cut down the rate of hospital readmission and at the same time, deliver better satisfaction to patient within the comforts of his/her home.
The collaboration will help Cerner’s connectivity platform and patient engagement solution gain better visibility and consequently, larger adoption. This will, in turn, drive top-line growth for the company, going forward.
Recently, Cerner recently announced that its patient engagement app – HealtheLife – will be available on Apple Watch. Apple Inc’s AAPL much anticipated device is set to hit stores on Apr 24.
Cerner is expected to conduct initial deployments with clients this month to collect biometric values from the Apple Watch-compatible HealtheLife app, including weight, blood pressure and blood sugar values. With patients’ consent, the data will be sent directly to the Cerner Millennium Electronic Health Record (EHR).
We believe these strategic partnerships will boost Cerner’s business scale massively. By expanding its range of solutions and services, Cerner will significantly enhance its top-line growth opportunities.
Zacks Rank
Currently, Cerner has a Zacks Rank #3 (Hold). Better-ranked stocks in the medical sector are LeMaitre Vascular LMAT and SurModics SRDX. Both the stocks carry a Zacks Rank #1 (Strong Buy).
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