Tenet Healthcare Corporation THC recently partnered with Commure to deploy its AI-driven platform, Commure Scribe, across its employed physician network, Tenet Physician Resources. The ambient AI platform aims to streamline clinical workflows by automating data collection and documentation, reducing administrative tasks for healthcare providers.

This move will allow physicians to focus more on patient care, enhancing efficiency and fostering a more patient-centered experience. Tenet Physician Resources employs more than 2,200 physicians and healthcare providers across its national network.

Commure, backed by HCA Healthcare, Inc. HCA, General Catalyst and Sequoia Capital, focuses on healthcare AI with a provider- and patient-centric approach to enhance clinical workflows and efficiency. It is expected to reduce providers’ administrative burdens.

Healthcare & AI

THC actively invests in selected AI-enabled technologies, which are expected to enhance the clinical and administrative workflow and efficiency. This is likely to lower costs, reduce patient wait times, and improve patient experiences. This is a growing trend in the hospital industry, where companies are increasingly adopting AI, automation, and real-time analytics to enhance patient care, streamline workflows, and manage costs.

These technologies are helping healthcare providers maintain a competitive edge. This has become the need of the hour as increasing patient volumes and utilization, along with rising costs for supplies, labor and benefits, are pushing hospitals’ operating expenses higher. Hospital companies are also renegotiating supplier contracts to address cost pressures.

Tenet Healthcare’s Price Performance

Shares of THC have surged 102.9% in the year-to-date period, outperforming the 22.6% growth of the industry.

Image Source: Zacks Investment Research

THC’s Zacks Rank & Other Key Picks

Tenet Healthcare currently sports a Zacks Rank #1 (Strong Buy).

Some other top-ranked and promising stocks in the broader Medical sector are CareDx, Inc CDNA and Encompass Health Corporation EHC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for CareDx’s current-year earnings indicates a 162.5% year-over-year improvement. CDNA beat earnings estimates in each of the past four quarters, with an average surprise of 135.2%. The consensus mark for revenues suggests 17.5% growth from the year-ago period.

The Zacks Consensus Estimate for Encompass Health’s 2024 full-year earnings implies a 17.6% increase from the year-ago reported figure. EHC beat earnings estimates in each of the last four quarters, with an average surprise of 13.6%. The consensus mark for its current-year revenues is pegged at $5.34 billion, which indicates an 11.2% year-over-year increase.