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Microsoft (MSFT) Partners GE Healthcare to Fight Coronavirus
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Microsoft (MSFT - Free Report) and GE Healthcare, the healthcare business arm of General Electric Company (GE - Free Report) , recently extended their partnership to launch a cloud-based patient monitoring software.
The Mural Virtual Care Solution, which is powered by Microsoft Azure, will enable medical workers to monitor COVID-19 patients remotely from a central hub, giving them a comprehensive view of each patient’s data.
GE Healthcare stated that the solution can monitor a 100-bed, multi-site ICU network with just three nurses and intensivists working 24x7. It can also compile real-time data from ventilators, patient monitoring systems, electronic medical records as well as labs, allowing one person to monitor several patients at the same time.
The solution is feasible for hospitals of all sizes and has already been deployed by the Oregon Health & Science University. Moreover, the subscription fee is being waived for hospitals and health systems til January 2021.
The solution’s features will aid hospitals in limiting staff exposure to patients and save critical resources like personal protective equipment (PPEs). This could lead to its robust adoption among hospitals, which bodes well for Microsoft’s long-term prospects.
Moreover, it is likely to instill confidence in the company’s stock. Notably, the company’s shares have returned 9% in the year-to-date period compared with the industry’s rise of 4.5%.
The deal with GE Healthcare is part of Microsoft’s focus on aiding global COVID-19 efforts through various partnerships and collaborations.
Notably, the company collaborated with various nonprofit organizations and private companies to roll out the Protecting People Everywhere initiative via the HealthEquip app. The app is an attempt to combat the shortage of PPEs by matching donors with potential recipients.
Microsoft also expanded its partnership with Adaptive Biotechnologies (ADPT - Free Report) to aid public health officials as well as researchers to access and track data pertaining to COVID-19 patient immune responses. The open source dataset will be deployed on Microsoft’s cloud computing platform, Azure.
Additionally, the company teamed up with CDC foundation and other healthcare organizations to launch an Azure powered healthcare bot service. The bot will aid them in screening potential COVID-19 patients and recommend the best possible course of action.
These endeavors are expected to aid researchers and medical workers around the world in solving this crisis and generate goodwill around Microsoft’s brand.
Digitization of Healthcare Bodes Well
The coronavirus outbreak is forcing healthcare organizations to digitize their operations and is driving the digital transformation of the healthcare system.
Notably, healthcare organizations are making use of emerging technologies like AI to develop solutions that enable better screening of patients, as well monitor COVID-19 symptoms and provide decision support for medical procedures.
Moreover, tech stalwarts are leveraging AI, ML, and cloud computing capabilities in an attempt to revolutionize the healthcare space.
We believe Microsoft’s improved healthcare capabilities from its partnerships and investments positions it well to benefit from the ongoing digital overhaul taking place in the healthcare industry.
Zacks Rank & A Key Pick
Microsoft currently carries a Zacks Rank #3 (Hold).
The long-term earnings growth rate for CyberOptics is currently pegged at 12%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Microsoft (MSFT) Partners GE Healthcare to Fight Coronavirus
Microsoft (MSFT - Free Report) and GE Healthcare, the healthcare business arm of General Electric Company (GE - Free Report) , recently extended their partnership to launch a cloud-based patient monitoring software.
The Mural Virtual Care Solution, which is powered by Microsoft Azure, will enable medical workers to monitor COVID-19 patients remotely from a central hub, giving them a comprehensive view of each patient’s data.
GE Healthcare stated that the solution can monitor a 100-bed, multi-site ICU network with just three nurses and intensivists working 24x7. It can also compile real-time data from ventilators, patient monitoring systems, electronic medical records as well as labs, allowing one person to monitor several patients at the same time.
The solution is feasible for hospitals of all sizes and has already been deployed by the Oregon Health & Science University. Moreover, the subscription fee is being waived for hospitals and health systems til January 2021.
The solution’s features will aid hospitals in limiting staff exposure to patients and save critical resources like personal protective equipment (PPEs). This could lead to its robust adoption among hospitals, which bodes well for Microsoft’s long-term prospects.
Moreover, it is likely to instill confidence in the company’s stock. Notably, the company’s shares have returned 9% in the year-to-date period compared with the industry’s rise of 4.5%.
Microsoft Corporation Price and Consensus
Microsoft Corporation price-consensus-chart | Microsoft Corporation Quote
Partnerships to Aid Fight Against COVID-19
The deal with GE Healthcare is part of Microsoft’s focus on aiding global COVID-19 efforts through various partnerships and collaborations.
Notably, the company collaborated with various nonprofit organizations and private companies to roll out the Protecting People Everywhere initiative via the HealthEquip app. The app is an attempt to combat the shortage of PPEs by matching donors with potential recipients.
Microsoft also expanded its partnership with Adaptive Biotechnologies (ADPT - Free Report) to aid public health officials as well as researchers to access and track data pertaining to COVID-19 patient immune responses. The open source dataset will be deployed on Microsoft’s cloud computing platform, Azure.
Additionally, the company teamed up with CDC foundation and other healthcare organizations to launch an Azure powered healthcare bot service. The bot will aid them in screening potential COVID-19 patients and recommend the best possible course of action.
These endeavors are expected to aid researchers and medical workers around the world in solving this crisis and generate goodwill around Microsoft’s brand.
Digitization of Healthcare Bodes Well
The coronavirus outbreak is forcing healthcare organizations to digitize their operations and is driving the digital transformation of the healthcare system.
Notably, healthcare organizations are making use of emerging technologies like AI to develop solutions that enable better screening of patients, as well monitor COVID-19 symptoms and provide decision support for medical procedures.
Moreover, tech stalwarts are leveraging AI, ML, and cloud computing capabilities in an attempt to revolutionize the healthcare space.
We believe Microsoft’s improved healthcare capabilities from its partnerships and investments positions it well to benefit from the ongoing digital overhaul taking place in the healthcare industry.
Zacks Rank & A Key Pick
Microsoft currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is CyberOptics Corp. , which sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for CyberOptics is currently pegged at 12%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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