ResMed's New Brightree Suite To Boost Home Infusion Business
Zacks Investment Research | Mar 07, 2019 09:50PM ET
Brightree, the wholly owned subsidiary of ResMed Inc. (NYSE:RMD) , recently announced a new and enhanced pharmacy suite, which will cater to home infusion therapy providers and home medical equipment (HME) pharmacies. The company plans to showcase this pharmacy suite at NHIA 2019.
Per ResMed, this improved suite will help optimize business processes of the users by easily meeting compliance requirements and providing them with highest quality patient care. Bringing automation into the home infusion and HME pharmacy work flow, this suite is supposed to create a seamless connection with leading electronic health/medical records (EHR/EMR) and third-party vendors to receive necessary patient data and process medication prescriptions electronically.
Brightree Prospects at a Glance
Significantly, ResMed’s Brightree software-as-a-service business is gradually growing strong. This business has been part of the ResMed Group for three full years, having registered a stable period of success. On the last reported second-quarter fiscal 2019 conference call, ResMed noted that the Software-as-a-Service portfolio continues with its trajectory of excellent growth registering 63% higher revenues year over year, driven by a steady expansion of Brightree and the full quarterly contribution from HEALTHCAREfirst along with partial quarterly benefits from MatrixCare and Apacheta.
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