In addition to realigning the company around its new platform's operating model introduced in January, Cerner has set its sights on three key areas to define its strategic framework "over the next several years," according to CEO Brent Shafer.
During the EHR vendor's second quarter of 2019 earnings call July 24, Mr. Shafer highlighted three main areas that Cerner will continue to pursue in support of its client-centric business model:
1. Delivery of a software-as-a-service platform. By adding a SaaS approach to its EHR platform, Cerner clients will be able to adopt advanced features more quickly. The platform will also support increased digital disruption to improve collaborations with third parties.
2. Adjacent markets outside of traditional hospital environment. As the shift to value-based care becomes more prominent in healthcare, the company will continue to develop its artificial intelligence and analytical capabilities to help support "network strategies to enhance contracting power, improve patient retention and manage risks more predictably."
3. Expand curated health data abilities. To become the "acknowledged and reliant source" for curated health data, Cerner plans to develop a monetized distribution model than can grant access to legacy client segments as well as adjacent market prospects, including biopharma, payers and actuaries.
For the second quarter, Cerner reported $1.43 billion in revenue, a 5 percent increase from the same period in 2018. The majority of the company's revenue came from professional services, which accounted for $45.3 million.