Health Catalyst, Inc. (NASDAQ: HCAT) shares experienced a notable uptick of 9.99%, concluding the preceding session at $7.38. This surge in the valuation of Health Catalyst stock can be attributed to an upgraded recommendation from Piper Sandler, which shifted its stance from “Neutral” to “Overweight” on Monday. It is noteworthy, however, that the analyst firm revised the stock price target downward from $12 to $11.
In a recent development, Health Catalyst forged a far-reaching, multi-year strategic alliance with Accountable Health Partners (AHP). AHP operates as a clinically integrated network (CIN), boasting a proven track record in enhancing quality outcomes and delivering value to a substantial patient base of 400,000 in the Greater Rochester area. With nearly 3,000 physicians and advanced practice providers, along with affiliations with twelve prominent regional hospitals, AHP constitutes a formidable force in the healthcare landscape.
Given the substantial reporting responsibilities associated with Clinically Integrated Networks (CINs) and their need for advanced interoperability, the multi-year agreement entails AHP leveraging Health Catalyst’s data platform and enterprise analytics tools as its primary source of truth. This strategic move is aimed at bolstering the network’s capabilities in complex reporting and operational requirements.
Under this extensive partnership, AHP gains access to various technologies, including Health Catalyst’s Data Operating System (DOS) platform, Analytics and Improvement library, MeasureAble, and Visionware. Furthermore, the collaboration encompasses HCAT’s Healthcare.AI Suite, along with the inclusion of Professional Services expertise and Pop Insights offerings as well as Pop Analyzer.
In a strategic move, Health Catalyst recently acquired Electronic Registry Systems, Inc. (ERS), a leading player in cancer registry software and services. As a leading provider of cancer registry compliance and informatics services, ERS supports clients’ clinical and business objectives related to cancer care. With a history dating back to 1989, ERS is renowned for its flagship platform solution, CRStar. The integration of CRStar with ARMUS by Health Catalyst fortifies the company’s data abstraction and registry management capabilities, thereby enhancing its Tech-Enabled Managed Services (TEMS) offering within the chart abstraction domain.