Cerner Corporation CERN recently announced that King Faisal Specialist Hospital & Research Centre (KFSH&RC) has achieved Stage 7 on the Ambulatory Electronic Medical Record Adoption Model (A-EMRAM) using Cerner Millennium.
Notably, KFSH&RC is the first organization outside North America to attain this recognition from Healthcare Information and Management Systems Society (HIMSS) Analytics.
The HIMSS Analytics tracks the use of EMR technologies within hospitals with their EMRAM and A-EMRAM where the organizations need to complete 8 stages, from 0-7. Notably, stage 7 is the highest attainable stage on both these models.
Cerner has been in a strategic partnership with KFSH&RC since 2002. Notably, the company previously helped KFSH&RC win HIMSS Stage 6 recognition in 2012.
Use of IT has helped KFSH&RC offer better treatment and care to patients. Decision making through real time access to information has been of vital help to this Saudi Arabian institute over the years. Cerner’s solutions have notably been implemented in more than 20 KFSH&RC departments.
Meanwhile, Cerner’s Millennium EHR has been helping the company win multiple contracts. In September this year, Cerner’s Millennium EHR was selected by Western Connecticut Health Network and Glens Falls Hospital. The Baptist Health South Florida also implemented the Cerner Millennium and HealtheIntent for its entire health system in August.
Austria-based AUVA (Allgemeine Unfallversicherungsanstalt – the Austrian Workers' Compensation Board) chose the Millennium platform for seven of its emergency hospitals and four rehabilitation centers.
This July, Cerner entered into an agreement with the CoverMyMeds to integrate the latter’s electronic prior authorization (ePA) platform with Millennium to improve the process of prescription reviewing and reduce transaction costs.
We believe that the recent recognition win for KFSH&RC will increase the visibility of Cerner’s Millennium EHR, which in turn, will fetch new contracts. This will also open up considerable top-line opportunities for Cerner.
Zacks Rank & Key Picks
Cerner presently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the medical sector include Streamline Health Solutions STRM, Masimo Corporation MASI and Cesca Therapeutics KOOL. All three stocks sport a Zacks Rank #1 (Strong Buy).
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