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NextGen's (NXGN) Integrated Platform Gets Leveraged by Mednax

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NextGen Healthcare, Inc. (NXGN - Free Report) recently announced that its client Mednax, Inc. (MD - Free Report) has expanded the use of NextGen Healthcare’s integrated platform. Mednax has adopted NextGen Virtual Visits as well as the NextGen Mobile. In addition, the company is utilizing the entire NextGen Healthcare platform, including NextGen Optical Management and NextGen API Solutions, throughout its network of 800 ambulatory providers in 39 states and counting.

It is worth mentioning that Mednax has been a longtime user of NextGen Enterprise electronic health records (EHR) and NextGen Enterprise PM. The long-standing, collaborative partnership with NextGen has enabled Mednax to scale operations and add new functionality at its own pace, per management. The use of NextGen’s fully integrated platform is expected to improve Mednax’s practices in putting crucial information on patients’ health and well-being at physicians' fingertips.

Per NextGen management, the company’s strategic acquisitions, including telehealth and mobile capabilities, are facilitating seamless patient-provider connections at healthcare centers throughout the country.

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NextGen Virtual Visits is expected to help Mednax in remote monitoring and treatment. This platform enables providers to see their patients through video as part of their normal workflow. The NextGen Virtual Visits integrates fully into the NextGen Enterprise EHR and virtually offers safe, convenient, and HIPAA-compliant access to care.

NextGen Mobile will enable Mednax’s providers to access schedules and records, streamline clinical documentation and collaborate with members of the care team, all with the help of a smartphone. NextGen Mobile can also connect to NextGen Enterprise EHR and provides doctors with access to a patient’s medical records, prescription lists, appointments and detailed care plans from prior providers right away.

Industry Prospects

Per a report published in MarketsandMarkets, the global telehealth and telemedicine market is expected to see a CAGR of 37.7% during 2020-2025. Factors driving the market include growing population, increased need to expand access to healthcare, rising prevalence of chronic diseases and conditions, physician shortages, advancements in telecommunications, government support, increasing awareness and greater use of technology due to COVID-19.

Given the market prospects, the expanded utilization of NextGen’s fully-integrated platform seems strategic for the company.

Notable Developments by NextGen

In September 2021, NextGen announced that it has facilitated 2 million telehealth visits since March 2020, which is a significant milestone. Since last year, the company witnessed an almost 5000% surge in telehealth visits as providers across the United States turned to the NextGen Virtual Visits to offer safe and convenient continuity of care during the COVID-19 pandemic. The NextGen Virtual Visits also gained high patient satisfaction scores of 9.1 out of 10 during this time.

In August 2021, the company announced that Neighborhood Health was utilizing the NextGen Mobile application to deliver its “street medicine” program to the homeless residents of Nashville. The NextGen Mobile app is linked to the NextGen Enterprise Electronic Health Record. This app enables field doctors to quickly access a patient’s medical records, prescription lists, appointments and detailed care plans from previous providers.

A Few Updates in Telehealth

The teleheath market has gained significant momentum with the COVID-19 outbreak when remote health care options became increasingly important. The telehealth space is competitive with the presence of notable players.

CVS Health’s (CVS - Free Report) subsidiary Aetna recently unveiled its 2022 Medicare offerings, including expanded telehealth benefits. In this regard, it was noted that all Aetna 2022 Medicare Advantage plans will cover telehealth visits for primary care, urgent care and specialty care provided by a doctor, including mental health services. Further, members will be able to schedule telehealth visits 24/7 via MinuteClinic Video Visit, Teladoc, or another network provider offering this service, based on their location.

Walgreens Boots Alliance, Inc. (WBA - Free Report) inked a five-year strategic affiliation deal with Northwell Health. The collaborative activities that are being pursued under this partnership involve digital offerings, retail and specialty pharmacy services, as well as offering Walgreens as an in-network pharmacy provider for Northwell’s employees. Notably, the terms of the digital agreement have made Northwell telehealth providers accessible on the Walgreens Find Care platform across New York, allowing community members to receive virtual emergency care services from board-certified emergency medicine physicians in the comfort of their own homes.