Last week, U.S. health officials released standards for electronic medical records in an effort to spark investment in new technology.
Electronic health records have been available for years, but many doctors' offices remain mired in paper, as physicians remain reluctant to spend money on systems that could quickly become obsolete.
But now that standards have been set, the situation may be about to change.
And with $19 billion in stimulus funds earmarked for converting paper records into digital files companies such as Allscripts-Misys Healthcare, Cerner Corp and McKesson Corp could benefit.
Also, larger technology companies such as General Electric's GE Healthcare unit, Siemens , Microsoft and Google could benefit - they are all also involved in the health information technology business.
However, before you rush into a new position, it’s important to know that a final rule on standards for electronic records technology won’t be issued sometime in 2010.
What else must you know about a potential ‘can’t lose’ trade? Find out from Allscripts CEO Glen Tullman. Watch the video now!
Got something to to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to firstname.lastname@example.org.
Trader disclosure: On January 4th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;
For Guy Adami:
Adami Owns (AGU)
Adami Owns (C)
Adami Owns (GS)
Adami Owns (INTC)
Adami Owns (MSFT)
Adami Owns (NUE)
Adami Owns (BTU)
For Pete Najarian:
Najarian Owns (CLF), Is Short (CLF) Calls
Najarian Owns (MGM)
Najarian Owns (MS)
Najarian Owns (CAT) Call Spread
Najarian Owns (BP) Call Spread
Najarian Owns (BG) Call Spread
For Karen Finerman:
Finerman Owns (GOOG)
Finerman's Firm Is Short (IJR)
Finerman's Firm Is Short (IWM)
Finerman's Firm Is Short (MDY)
Finerman's Firm Is Short (SPY)
Finerman Owns (AAPL)
Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads
Finerman Owns (BAC) Preferred, (BAC)
Finerman's Firm Owns (CSCO)
Finerman's Firm Owns (MSFT)
Finerman's Firm And Finerman Own (RIG)
Finerman's Firm Owns (VOLC)
Finerman's Firm And Finerman Own (WFC) Preferred
Finerman's Firm Owns (CMP)
For Tim Seymour:
Seymour Owns (AAPL)
Seymour Owns (BAC)
Seygem Asset Management Owns (CZZ)
Seymour Owns (FXI)
Seymour Owns GE
Seymour Owns (INTC)
Seymour Owns (LVS)
Seymour Owns (MSFT)
GE Is The Parent Company Of CNBC
For Mark Mahaney:
A Citi Associate Owns (YHOO)
A Citi Associate And A Citi Research Assistant Own (GOOG)
Citigroup Global Markets Or Affiliates Owns 1% Or More Of (YHOO), (PCLN),
Citigroup Global Markets Or Affiliate Received Non-Investment Banking Compensation From (GOOG), (AMZN), (YHOO), (EXPE) In Past 12 Months
(GOOG), (AMZN), (YHOO) Are Or In Past 12 Months Were Non-Investment
Banking Clients Of Citigroup Global Markets (Securities-Related Services)
(GOOG), (AMZN), (YHOO), (EXPE) Are Or In Past 12 Months Were Non-Investment Banking Clients Of Citigroup Global Markets (Non-Securities-Related)
Citigroup Global Markets Is A Market Maker In (GOOG), (AMZN), (YHOO), (EXPE), (PCLN), (NFLX), (AKAM)
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (GOOG), (YHOO), (EXPE)
Citigroup Global Markets Or Affiliates Owns 2% Or More Of (YHOO)
For Robin Farley:
UBS AG & Affiliates Owned 1% Or More Of (WYNN) As Of End Of Last Month
(WYNN) Is Or In Past 12 Months Was An Investment Banking Client Of UBS
UBS Securities LLC Received CompensationFrom (WYNN) In Past 12 Months
CNBC.com with wires