Allscripts Healthcare Solutions, Inc. MDRX recently joined forces with TeleTracking Technologies to improve interoperability between solutions. Under the terms of the newly inked deal, Allscripts Care Management platform will be connected with TeleTracking’s patient flow and healthcare operational management platform. In addition, both the companies will resell each other’s solutions.
The primary goal behind the integration of the platforms is to achieve better operational outcome, while lessening the burden of expenses and resources on the health system. We believe that the partnership with TeleTracking will help Allscripts’ solutions gain better visibility in the market, which is expected to drive the top line.
Partnerships and new contracts have been a core area of focus for Allscripts, when it comes to expanding the reach of its solutions.
In October this year, Catholic Health Initiatives selected Allscripts TouchWorks HER, Allscripts Practice Management solution and FollowMyHealth patient engagement platform. Allscripts Electronic Health Record (EHR) solutions were also chosen by Baptist Health Care to improve the latter’s business operations.
Allscripts Chronic Care Management (“CCM”) Program also fetched four new clients in the domestic market – Heart and Vascular Center of Lake County, Joliet Doctors, Santa Ynez Valley Medical Associates and Frischer Medical Group.
Allscripts has managed to gain considerable market traction on the back of its Sunrise platform, which provides a complete range of fully integrated inpatient, ambulatory, emergency care and surgical care solutions to EHR clients.
Also, this October, Allscripts Sunrise platform was selected as an Electronic Patient Record (“EPR”) system by the University Hospital of South Manchester NHS Foundation Trust (“UHSM”).
In Aug 2015, Allscripts entered into a strategic partnership with CoverMyMeds, which will help patients obtain prescriptions faster with the help of the Allscripts eAuth software. Under the terms of the deal, the number of health plans accessible to Allscripts eAuth software clients will increase.
We believe that such regular contract wins and strategic collaborations will consistently drive Allscripts’ top line.
Zacks Rank & Other Key Picks
Currently, Allscripts carries a Zacks Rank #2 (Buy). Other favorably ranked stocks in the medical sector are Masimo MASI, Natus Medical BABY and Olympus Corp OCPNY. All the stocks sport a Zacks Rank #1 (Strong Buy).
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