Unlike other businesses, the initial phase of COVID-19 proved to be beneficial for the Medical Information industry that advanced on growing demand for digital healthcare support to control the spreading of the infection. This created unique opportunities for heavyweights within the industry like Cerner (CERN) whose AI-enabled workflow started to get huge industry acceptance.
However, the pandemic put a brake on the flow of seamless R&D operations within this sector. Also, a gloomy second-quarter performance, along with many of the industry players’ apprehension about a ‘new great depression’ approaching has resulted in significant bearishness. The frontrunners in the industry are 10x Genomics Inc. (TXG), Allscripts Healthcare (MDRX) and NextGen Healthcare (NXGN).
About the Industry
The Zacks Medical Info Systems industry comprises companies, which develop and market healthcare information systems. They offer software and hardware solutions to healthcare providers with secure access to real-time clinical, administrative and financial data in a