NextGen Healthcare Boosts Patient Care With CHC Strategies

NextGen Healthcare, Inc. (NASDAQ:NXGN) recently announced that CHC Strategies, Inc. has been delivering innovative medical care to more than 53 countries and 107,000 patients through NextGen Population Health. This will not only enable NextGen Healthcare deliver better patient care but also boost its presence in health management.

For investors’ notice, NextGen Population Health along with Analytics Solutions helps providers to evaluate clinical, financial, claims, and patient-derived data, thereby enabling them to deliver better and more informed decisions for patient care.

Few Words about CHC Strategies

Established in 2017, CHC Strategies is a clinically-integrated network of three independent Federally Qualified Health Centers (FQHC) that serve most rural towns in Missouri.

With each CHC (Community Health Center) having its own NextGen Population Health, which runs on its own database, CHC Strategies utilizes the geospatial capabilities of NextGen Population Health. This capability enables CHC Strategies to locate children in need of medical attention in geographically isolated areas.

Benefits of Utilizing NextGen Population Health Platform

Using NextGen Population Health, CHC Strategies has been able to create a balance between cost and quality of medical care. With the healthcare industry moving rapidly toward value-based payments, NextGen Population Health helps providers to understand cost, manage staffing outcomes and analyse claims data and serve patients effectively and efficiently.

NextGen Healthcare will continue to benefit from strong demand for its other NextGen solutions that include Hospitals, EHR (Electronic Health Record) and practice management. Strength of its NextGen division is primarily driving revenues.

Recent Development

In September, University Hospitals Health System selected NextGen Population Health to enhance patient care. This boosts NextGen’s foothold in the global EHR space.

Market Prospects

According to a report by MarketsandMarkets, the population health management market is estimated to reach $42.54 billion by 2021 from $13.85 billion in 2016, witnessing a CAGR of 25.2%. Rising geriatric population, advancement in IT and big data capabilities, subsequent increase in chronic diseases are some of the factors driving this market.

Zacks Rank and Share Price Movement

Currently NextGen Healthcare carries a Zacks Rank of 3 (Hold). Shares of the company have gained 2.6% in a year’s time, compared with the industry’s growth of 9.9%. Meanwhile, the S&P 500 index rallied 17.6% in the same timeframe.

Stocks to Consider

Some better-ranked stocks from the broader medical space are Conmed Corporation (NASDAQ:CNMD) , West Pharmaceutical Services, Inc. (NYSE:WST) and Edwards Lifesciences Corporation (NYSE:EW) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Conmed has a long-term earnings growth rate of 17%.

West Pharmaceutical has a long-term earnings growth rate of 14%.

Edwards Lifesciences has a long-term earnings growth rate of 14.8%.

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