3M Co (MMM), Nuance Communications Inc. (NUAN): Confronting ICD-10, the Health Care Industry’s Y2K

For Nuance Communications Inc. (NASDAQ:NUAN), its health care portfolio — which consists of Clintegrity 360, Dragon Medical 360, and PowerScribe 360 — is its strongest area of growth. Last quarter, non-GAAP revenue at its health care unit surged 29.1% year on year to $238.1 million, accounting for 48.5% of its top line. Mobile and consumer products, for which it is more widely known, slumped 16.2% to $111 million.

Foolish bottom line
Investors should watch these three companies as the health care industry enters the home stretch for meeting ICD-10 standards, as well as the “meaningful use” deadline for EHRs next February. Both deadlines will usher in a new era of efficiency in health care, with EHRs and CDIs at the forefront of this revolution.

Other companies to watch in this space include General Electric Company (NYSE:GE), Greenway Medical Technologies, Inc. (NYSE:GWAY), and McKesson Corporation (NYSE:MCK), which all offer their own services and solutions for ICD-10 compliance.

The article Confronting ICD-10, the Health Care Industry’s Y2K originally appeared on Fool.com.

Leo Sun has no position in any stocks mentioned. The Motley Fool recommends 3M and Nuance Communications. The Motley Fool owns shares of Nuance Communications. 

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.