Interoperability within electronic medical record systems is the single biggest investment play in the health care IT sector due to the need to be able to share and access data to be qualified for meaningful use, says Deepak Chaulagai, an Analyst at Dougherty & Company LLC.
“So just having an electronic medical record system is not going to be enough. It was enough in the beginning, but now you really have to have something that’s truly interchangeable over multiple platforms,” he said, “and I think eventually that’s where the government wants health care IT to get to.”
Chaulagai has a “buy” rating on HMS Holdings Corp. (HMSY), a health care IT, fraud, waste and abuse solutions services management company, because of its dominant technology to combat inappropriate payment in Medicaid. HMSY is the major player in its market with Coordination of Benefits contracts with 44 states.
“It has the most comprehensive claims database that they’ve been continually developing for the better part of two decades. HMS, as a COB contractor for a particular state, gets claims data from all of the health care payers in that state,” Chaulagai said. “That’s their core business, and that business has been growing rapidly.”
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