Medication and supply management and adherence tools provider Omnicell, Inc.OMCL recently advanced its Patient Management Access Portal (PMAP) with four new enhancements to help it improve patient outcome.
Notably, this single, web-based portal hosts functionality to guide and track patient notes, interventions and appointments. It also provides a detailed information on the patients to the respective pharmacist by identifying, preparing and documenting the ongoing patient engagement.
The latest enhancements to the PMAP include Targeted Adherence Interventions for patients, who are new to chronic therapy. Also, there is a Time My Meds dashboard, providing pharmacists with individualized performance snapshots. These enhancements also consist of single sign-on integration with a third party software, helping the pharmasists assist patients with a Medicare plan option and Immunization Solutions to aid in identifying those in need of vaccinations while simplifying a pharmacist's workflow.
Per Omnicell, all these advancements will together make PMAP a more comprehensive web portal, prompting the pharmacists to provide a personalized care to medically complex patients while maintaining effective services. Further good news is that this initiative will lead to curbing healthcare costs.
Per the data provided by Omnicell, currently more than 30 million Americans are taking five or more maintenance medications daily. However, only half of all chronic-condition patients, who require medications, do not take them as prescribed. This accounts for a 30-50% of all treatment failures and 125,000 deaths annually. With people gradually realizing the importance of medication adherence, the market potential of PMAP-like web portals seems huge. We expect this latest feature-enhancement of PMAP to result in better market adoption of the system.
For most part of the past three months, Omnicell's share price consistently underperformed the industry . However, the company has picked up some steam post its impressive second-quarter results with a year-over-year increase in both earnings and revenues. Accordingly, the stock has surged 24.2%, significantly ahead of the industry's 4.6% gain. With Omnicell putting efforts in product innovation through research and development, we expect the company to maintain this bullish momentum going ahead.
Zacks Rank & Key Picks
Omnicell currently carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Edwards Lifesciences Corp. EW , Lantheus Holdings, Inc. LNTH and Align Technology, Inc. ALGN . Both Edwards Lifesciences and Align Technology sport a Zacks Rank #1 (Strong Buy), while Lantheus Holdings carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock has gained around 3.2% over the last three months.
Lantheus Holdings has a long-term expected earnings growth rate of 12.5%. The stock has soared 66.1% over the last six months.
Align Technology has a long-term expected earnings growth rate of 26.6%. The stock has rallied roughly 29.6% over the last three months.
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