Align Technology, Inc. ALGN entered a partnership with Asana ASAN to offer Invisalign trained doctors a new workflow solution in the United States, Asana Smiles for Align. The new solution will be showcased at the American Association of Orthodontists' Annual Session in Miami Beach, FL. The solution will be available from the next month for the United States’ based doctors and practices.
The recent development is likely to strengthen Align Technology’s Invisalign portfolio, which offers orthodontic treatment options.
More on Asana Smiles for Align
Asana Smiles for Align offers a personalized workflow solution to support orthodontic and dental practices to keep track of tasks connected to the lifecycle of a patient’s Invisalign treatment journey.
Booking consultations, submitting prescriptions, monitoring ClinCheck software treatment plans, and preparing for aligner delivery appointments can be easily organized and tracked through the new workflow solution. Moreover, the solution can be executed directly or as an additional solution for practices with other existing software.
Per Align Technology’s management, through the partnership, doctors will have access to a new alternative that helps reduce manual processes and creates a clear view of Invisalign treatment workflows from prospective patients through treatment to retention.
There is a high degree of complexity in managing a successful orthodontic practice. Developing an automated workflow solution, with the ability to incorporate Invisalign treatment information and tasks, will lead to high efficiency, including improved delegation and accountability of team members.
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Moreover, by utilizing the capabilities of Asana, Align Technology will support organizations of all sizes to enhance their workflows by connecting work across teams and functions, and automating historically manual work processes. This will enable them to focus on important tasks, deliver consistent customer experiences and grow their businesses.
Per a report by Precedence Research, the global dental services market size was $371.4 billion in 2020 and is expected to reach $698.8 billion by 2030, seeing a CAGR of 6.4%. The growing prevalence of dental caries and other oral diseases among the global population is hiking the demand for dental services across the globe, thus driving the market.
In May 2022, Align Technology unveiled Invisalign Outcome Simulator Pro, the next generation of its advanced patient communication tool, featuring in-face visualization and/or 3D dentition view. The novel features help doctors to show patients their potential new smile following Invisalign treatment, all done chairside within minutes.
In March 2022, Align Technology introduced the Cone Beam Computed Tomography (“CBCT”) integration feature for ClinCheck digital treatment planning software. ClinCheck is a user-friendly tool that integrates roots, bone and crowns into a single three-dimensional model, allowing doctors to visualize a patient’s roots as part of the digital treatment planning process.
Shares of the company have lost 54.5% in a year compared with the industry's fall of 7%.
Zacks Rank and Stocks to Consider
Align Technology currently carries a Zacks Rank #4 (Sell).
A couple of better-ranked stocks in the broader medical space are UnitedHealth Group Incorporated UNH and Medpace Holdings, Inc. MEDP.
UnitedHealth, having a Zacks Rank #2 (Buy), reported first-quarter 2022 earnings per share (EPS) of $5.49, which beat the Zacks Consensus Estimate by 1.7%. Revenues of $80.1 billion outpaced the consensus mark by 14.2%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UnitedHealth has an estimated long-term growth rate of 14.8%. UNH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%.
Medpace reported first-quarter 2022 adjusted EPS of $1.69, which surpassed the Zacks Consensus Estimate by 34.1%. Revenues of $330.9 million outpaced the Zacks Consensus Estimate by 1.1%. It currently has a Zacks Rank #2.
Medpace has a historical growth rate of 27.3%. MEDP’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%.
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