Allscripts Healthcare Solutions Inc. (MDRX – Analyst Report) is increasingly gaining popularity among hospitals and healthcare systems on the back of its Sunrise Electronic Health Record (EHR) platform. Allscripts Sunrise EHR is a comprehensive suite of fully integrated population health capabilities comprising inpatient, ambulatory, emergency care and surgical care solutions.
Allscripts recently announced that its Sunrise EHR platform has been selected by OH-based Grand Lake Health System as the core EHR for its community of medical centers to advance support care and patient management efforts.
The hospital, as reported, is expected to use the Allscripts Sunrise suite at all venues of care to create a comprehensive single patient record that supports acute, ambulatory, clinical, emergency, surgical care and post-acute home care. The organization will also use the Sunrise revenue cycle management solution to support today’s value-based reimbursement model.
Allscripts Sunrise, used by many leading hospitals and health systems in the world, is a highly configurable solution that offers clinician-specific workflows that help drive adoption of clinical decision support that can lead to improved outcomes.
As the services offered by Allscripts are gaining popularity among hospitals and health systems, we believe that it will enhance the company’s top-line growth opportunities.
It should also enhance visibility of the company’s wide range of services, which, in turn, will drive demand for its other offerings. We note that the company has been reporting regular contract wins and addition of new domestic and international clients. Notably, in 2014, Allscripts added nearly 800 new clients for its EHR and related solutions in total.
On the back of the Best in KLAS recognition, the Sunrise platform can surely rake in better profits for Allscripts.
We believe that such strategic opportunities will help drive Allscripts’ dwindling top line, which is a potent headwind for the company at present. Moreover, Allscripts has to counter stiff competition and face sluggishness in the international market, which adds to the woes.
Stocks to Consider
Currently, Allscripts carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the medical information systems industry include Foundation Medicine Inc. (FMI – Snapshot Report), Medidata Solutions Inc. (MDSO – Snapshot Report) and Merge Healthcare (MRGE – Analyst Report). All the three stocks carry a Zacks Rank #2 (Buy).
