athenahealth, Inc.ATHN recently announced a strategic collaboration with Hawaii-based physician service organization, TeamPraxis. Under the terms of the newly-inked service agreement, TeamPraxis will be able to use the athenaNet platform to employ the athenaOne suite of services and athenaCommunicator Enterprise population health service.
TeamPraxis, along with its own widespread local services and account management, will offer athenahealth's EHR, practice management, and patient engagement services to providers. Additionally, TeamPraxis will supply athenahealth's population health management service - athenaCommunicator Enterprise.
TeamPraxis offers revenue cycle management and health IT solutions to over 560 independent physicians in more than 250 practices across Hawaii. Hence, the collaboration will help athenahealth gain considerable traction in the region, which in turn, will open up substantial growth opportunities.
Notably, athenahealth thrives on customer wins and strategic partnerships. The company's cloud-based solutions have been chosen by a number of healthcare providers, of late.
In September this year, athenaCommunicator Enterprise was selected by Summit Medical Group to improve care coordination and population health management. In July, athenahealth's cloud-based services were picked by NewYork-Presbyterian to expand and develop technology infrastructure for physician practices.
Prior to that, in June, athenahealth's patient access services were selected by the University of Alabama at Birmingham, which houses the UAB Health System, to enhance care coordination in the ambulatory care space.
These strategic alliances are expected to significantly boost athenahealth's physician base in 2015 and beyond. We note that, in the recently reported third quarter of 2015, athenahealth added 3,953 physicians to athenaCollector; 2,818 physicians to athenaClinicals and 3,422 physicians to athenaCommunicator. Healthy growth across athenahealth-branded services drove an impressive 24% increase in revenues.
Zacks Rank and Other Key Picks
Currently, athenahealth carries a Zacks Rank #2 (Buy). Other well placed stocks in the medical space are Intuitive Surgical ISRG , Natus Medical BABY and Masimo MASI . While Masimo and Natus Medical sport a Zacks Rank #1 (Strong Buy), Intuitive Surgical carries a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
