If you have been monitoring the many issues affecting healthcare right now, you know that healthcare businesses are really feeling the pinch. The inability to provide “elective” procedures and the fact people are staying home is really hurting their bottom line. In addition, the cost of a worker is increasing. Enter 5G and artificial intelligence. The bar has never been lower to replace now non-essential workers with technology.
What 5G brings is the ability to transfer large amounts of data quickly. For systems relying on real time information and using it for patient care is huge. With 5G possibly solving the data transfer gap, it opens up huge possibilities.
Here are four areas where 5G will be able to help transform healthcare. First, the ability to do pathology and diagnosis. The ability of companies to take data and use artificial intelligence can really help hasten the diagnosis of many diseases. Second, the ability to perform remote surgery may now be possible. Companies providing the capability to use AI and robotics with the data transfer ability makes this possible. Third, the ability for patients and doctors to communicate in a way that will increase patient care. Finally, the ability to transfer medical data without having to have a wired connection provides greater mobility.
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The following seven stocks are positioned to fulfill at least one of the four areas that 5G will impact our healthcare system.
5G Healthcare Stock #1: Health Catalyst Inc (NASDAQ: HCAT)
Health Catalyst is a provider of data and analytics technology and services to the healthcare industry. The company has a cloud-based platform, analytics software and professional services experience. The company announced a new care management solution on July 1. The “Care Management Suite” is designed to support the entire clinical pathway as care is coordinated across healthcare environments and teams.
5G Healthcare Stock #2: Globus Medical Inc (NYSE: GMED)
Globus Medical is a medical device company that manufactures products to treat patients with spine disorders. The company discussed the difficulty of COVID-19 and described it as, “one of the greatest healthcare challenges we have faced in recent history.” While the company withdrew its guidance for 2020, the bigger picture is what makes this stock interesting.
5G Healthcare Stock #3: Intuitive Surgical, Inc (NASDAQ: ISRG)
Intuitive Surgical was founded in 1995 and makes robotic-assisted systems that makes procedures less invasive. Their Da Vinci surgical system was the fist robotic-assisted system cleared by the FDA for general laparoscopic surgery. Their system is predominantly used for urological and transoral procedures, but recent FDA clearance has allowed the company to branch out into peripheral lung biopsies.
5G Healthcare Stock #4: Teladoc Health Inc (NYSE: TDOC)
Teledoc is a virtual healthcare services provider. The company announced on July 1, 2020 that they completed the acquisition of InTouch Health. The merger helps link providers to assist patients in complex medical environments. It does this through facilitating a spectrum of acute to chronic visits with a global end-to-end partnership of doctors and hospitals.
5G Healthcare Stock #5: Qiagen NV (NYSE: QGEN)
Qiagen engages in molecular testing that helps streamline the process in order to gain insights or a diagnosis faster. The company has focused its solutions in areas pertaining to tuberculosis infection, next-generation sequencing, personalized healthcare, polymerase chain reaction (PCR) and technologies for reading samples. The company is currently being acquired by a subsidiary of Thermo Fisher Scientific Inc (TMO)
5G Healthcare Stock #6: Thermo Fisher Scientific Inc (NYSE: TMO)
Thermo Fisher is a world leader in service science through their life sciences solutions, analytical instruments, specialty diagnostics and laboratory products and services segments. On July 6, 2020, the company provided an update for 2Q outlook saying that they expect revenue growth for the quarter to increase 10%. The bump in revenue largely came through global sales of PCR-based tests and other COVID-19 related expenditures.
5G Healthcare Stock #7: Ontrak, Inc (NASDAQ: OTRK)
Ontrak recently changed its name from Catasys Inc in order to align its name with its signature product. The company utilizes AI-powered and telehealth solutions to assist with outpatient treatment of behavioral conditions. The company is also expanding into other areas of diagnosis into other medical conditions like diabetes, heart disease, COPD, etc.