Healthcare Stocks Shift Focus To eHealth Growth Trends; Premier Health Group, Inc. (PHGRF) (PHGI), CVS Health, Allscripts
CORAL GABLES, FL / ACCESSWIRE / November 9,
The report cites that "stable rise in the number of internet consumers, enhanced access to web-based & online services and growing implementation of e-prescriptions in hospitals and other healthcare services are some of the key factors fueling the market growth."
Furthermore, by geography, the report shows that North America is expected to dominate the largest market share due to rise in online orders and highacceptances of e-commerce being some of the factors fueling in this region. With this in mind, a number of public companies are getting actively involved in capturing early market share including Premier Health Group, Inc. (PHGRF) (PHGI), CVS Health (NYSE: CVS) and Allscripts (NASDAQ: MDRX).
Premier Health Group, Inc. (PHGRF) (PHGI) entered the primary care clinic and healthcare technology business via the HealthVue transaction. Premier obtained access to a group of four Greater Vancouver-based fully integrated, paperless and electronic-medical-record-based medical clinics with a 10-year history, 22 healthcare professionals and over 100,000 active patients.
Premier Health Group, Inc. (PHGRF) (PHGI) announced this week that as a part of its expansion plans it will enter the Pharmacy market via acquisition and/or launching a new Canada based pharmacy in H1-2019. With Premier's acquisition of HealthVue Medical Clinics in August, this could be the next phase of growth for the company. Furthermore, the Company expects to provide additional updates on acquisitions in Q4-18 and Q1-19. Premier Health Group, Inc. (PHGRF) (PHGI) is actively reviewing a pipeline of additional pharmacy partners, which include bricks and mortar locations for acquisition and strategic new retail opportunities for pharmacies.
CVS Health (CVS)'s retail medical clinic, MinuteClinic has begun to roll out a virtual healthcare offering. Similar to Premier Health, users can seek care through the MinuteClinic Video visit for things like minor injuries, cold, flu, etc.
CVS has leveraged the technology platform from another health technology company, Teladoc (TDOC) to offer this service through the CVS Pharmacy app. The video visit costs $59 and according to CVS, insurance coverage will be added in the coming months. The service is now available in 16 states including Arizona, California, Delaware, Florida, Idaho, Kentucky, Louisiana, Maine, Maryland, Mississippi, Nebraska, New Hampshire, Rhode Island, Utah, Vermont
In the company's most recent earnings call, Cowen and Company Analyst James Auh asked, "Can you talk about how Teladoc affects your clinical strategy and when we should expect a full-blown rollout?"
CVS President Larry J. Merlo explained the focus on telehealth technology specifically in stating, "As you mentioned, we've been rolling it out state-by-state. There are some state processes that we're going through to turn them on and once we get more of a critical mass, we will begin broader marketing of that. As you look at the complementary strategy to the clinics, it has the opportunity to expand our reach as well as expand our scope of practice. And those are the use cases that we've been piloting."
Allscripts (MDRX) is helping to lead the way in healthcare information technology solutions. The company focuses on things that advance clinical, financial and operational results. Allscripts solutions connect people, placesand data across an Open, Connected Community of Health™. The company integrates client information so they can take action across care sites, care teams and across multivendor electronic health record systems.
East Kent Hospitals University NHS Foundation Trust has recently gone live with the Allscripts patient administration system. According to the announcement, "East Kent Hospitals extended its initial engagement with Allscripts by contracting for Sunrise in December 2016. Maidstone and Tunbridge Wells did the same in August 2018. Nearby Medway NHS Foundation Trust is also an Allscripts PAS customer."
Shares of Allscripts hit lows of $9.52 a week ago and have since climbed back to highs of $10.62 today.
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