Nuance Communications Inc. (NUAN), Allscripts Healthcare Solutions Inc (MDRX): The Rise of Speech Recognition Technology in EHRs

Cerner and Nuance
Healthcare IT giant Cerner Corporation (NASDAQ:CERN) is another firm adopter of voice recognition technology. Last October, it announced that it was integrating Nuance Communications Inc. (NASDAQ:NUAN)’s cloud-based medical voice recognition software, Nuance 360, into all of its EHR products, including its native iPad app, PowerChart Touch. As part of that collaboration, Nuance also tied its radiology reporting suite, PowerScribe 360, into Cerner’s RadNet Radiology Information System, providing radiologists with a real-time documentation solution.

In March 2013, Cerner Corporation (NASDAQ:CERN) deepened that partnership with Nuance Communications Inc. (NASDAQ:NUAN) by integrating the latter’s clinical documentation improvement technology into its EHR products. Physicians are currently using CDI software to upgrade the outdated ICD-9 medical classification codes used in the U.S. to the ICD-10 standards used by the rest of the world.

The Foolish bottom line
Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), Greenway Medical Technologies, Inc. (NYSE:GWAY), and Cerner are only three major EHR companies that have recognized the need for integrated voice-recognition solutions. Other major players — like Epic, General Electric Company (NYSE:GE), and athenahealth, Inc (NASDAQ:ATHN) — also use Nuance Communications Inc. (NASDAQ:NUAN)’s technology in their EHR software.

For Nuance Communications Inc. (NASDAQ:NUAN), which has declined nearly 20% over the past 12 months due to weakness in its mobile and consumer business segment, these medical collaborations could usher in a new age of growth for the company beyond Siri.

The article The Rise of Speech Recognition Technology in EHRs originally appeared on Fool.com and is written by Leo Sun.

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

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