Leading healthcare information technology (“HCIT”) solutions provider Cerner Corp (CERN) reported that St. Louis-based leading non-profit senior care and services provider Bethesda Health Group has deployed its skilled nursing facility (“SNF”) solution. This marks the initial deployment of the company’s “BeyondNow” software platform on which the SNF solution has been built.
Bethesda has been selected by Cerner as a development partner based on its vast continuum of post-acute care and reputation in senior care and services.
The SNF solution, essentially a medical record software, has been already utilized by two of Bethesda’s facilities for development and tracking of resident care plans and handling back-office operations (including billing and logistics for dining and bed management). Plans are in place to expand utilization to seven more facilities.
Moreover, in late 2011, Bethesda will deploy Cerner’s solutions for home health, private duty and hospice care, which will enable it to easily exchange medical information with hospitals and physician’s offices.
According to the U.S. Department of Health and Human Services, 12 million Americans aged over 65 are expected to require long-term care by 2020. The SNF residents often have complex medical needs or limited ability to communicate their requirements. Cerner’s BeyondNow platform enables providers to coordinate and manage care across the post-acute continuum.
Missouri-based Cerner is a leader in HCIT solutions, serving hospitals and healthcare providers, primarily in the U.S. These solutions, which can be implemented as standalone, combined, or enterprise-wide systems, are created to provide clinical, financial and information management tools for the healthcare marketplace. Cerner competes with Allscripts Healthcare Solutions (MDRX) and Quality Systems (QSII).
Optimism about the growth prospects of HCIT service providers has improved under the Obama Administration, which passed the Stimulus package in May 2009, aimed at increasing the use of electronic health record (“EHR”) systems by medical practitioners.
Cerner’s fourth-quarter fiscal 2010 earnings of 82 cents beat the Zacks Consensus Estimate with profit soaring roughly 17% year over year driven by higher revenues (up 7.3%) and solid bookings. The federal stimulus package drove bookings in the quarter. The “meaningful use” rule, which enables hospitals to qualify for federal incentive program, is expected boost business opportunities for Cerner in the long run.
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