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Change Healthcare Inc. (CHNG) reported its financial results for the third quarter of fiscal 2022, ending December 31, 2021. Total revenue reached $866.1 million, a significant increase from $785.1 million in the prior year, driven by a rise in solutions revenue, which totaled $811.1 million. However, the company experienced a net loss of $24.5 million, or $0.08 per diluted share. Adjusted net income improved to $116.7 million or $0.36 per diluted share, while adjusted EBITDA increased to $259.5 million. The proposed merger with OptumInsight remains under regulatory review.
Change Healthcare Inc. (Nasdaq: CHNG) will release its third-quarter fiscal 2022 financial results after market close on February 2, 2022. A conference call is scheduled for February 3, 2022, at 8:00 am ET. However, due to a transaction with OptumInsight, the company will not take questions during the call. Investors can access the call via the Company's website, with a replay available until February 3, 2023.
Change Healthcare (NASDAQ: CHNG) launched The ASAM Criteria Powered by InterQual, a new SaaS solution for substance use disorder assessments. This platform integrates with existing workflows, significantly cutting assessment times from 30 minutes to under 15 and increasing consistency in prior-authorizations. The tool is aligned with state mandates and CMS guidelines for SUD, aiding providers and payers in efficient care management.
Change Healthcare (NASDAQ: CHNG) has launched the Stratus Imaging PACS, a cloud-native Picture Archiving and Communication System, now actively used by StatRad. This system allows radiologists to access and read images seamlessly from multiple hospitals, enhancing productivity and collaboration. The platform promises high performance with proprietary streaming technology and complies with HITRUST and SOC2 security standards, reducing IT burdens for healthcare practices. The launch supports healthcare providers' needs for efficient patient care, available anytime and anywhere.
Change Healthcare has formed a groundbreaking partnership with Zasti to assist healthcare providers in measuring and managing their carbon emissions through AI and data analytics. This collaboration enables organizations to track emissions from individual care decisions and offers benchmarks for improvement. The innovative ATOM platform automates the establishment of carbon baselines and progress monitoring, enhancing decision-making. This approach is crucial as healthcare contributes significantly to greenhouse gas emissions, necessitating actionable decarbonization strategies.
Change Healthcare reported Q2 fiscal 2022 results, highlighting total revenue of $826.8 million, up from $755.9 million in Q2 fiscal 2021. Solutions revenue increased to $774.2 million, benefiting from volume recovery and COVID-19 vaccine revenue. While the company experienced a net loss of $36.4 million (net loss of $0.11 per diluted share), adjusted net income rose to $114.3 million (adjusted net income of $0.35 per diluted share). The proposed merger with OptumInsight remains under regulatory review, and financial guidance has been suspended.
Change Healthcare Inc. (NASDAQ: CHNG) is set to release its second quarter fiscal 2022 financial results on November 3, 2021, after market close. Following this, a conference call will occur on November 4, 2021, at 8:00 AM ET. However, due to the ongoing transaction with OptumInsight, no questions will be taken during the call. Investors can access the call via the company's website, with the option for on-demand listening until November 4, 2022.
Change Healthcare (Nasdaq: CHNG) has launched Stratus Imaging PACS, a cloud-native PACS solution currently in beta testing aimed at enhancing radiology workflows. The solution promises improved efficiency and security while minimizing cumbersome upgrades. Recognized as Google Cloud's Healthcare Industry Solutions Partner of the Year, Change Healthcare's innovative capabilities extend to AI-driven imaging solutions, recently earning FDA clearance for its Anatomical AI algorithm. This initiative marks a significant step in transforming enterprise imaging and patient care through advanced technology.
Change Healthcare reported its fiscal Q1 2022 results, with total revenues of $867.9 million, up from $694.2 million in the same period last year. Solutions revenue reached $816.6 million, an increase from $648.4 million. Despite a net loss of $3.6 million ($0.01 per diluted share), adjusted net income climbed to $133.0 million ($0.41 per diluted share). The proposed merger with OptumInsight is progressing, with shareholders overwhelmingly supporting the deal. Due to this merger, financial guidance has been suspended.
Change Healthcare Inc. (Nasdaq: CHNG) will release its Q1 fiscal 2022 financial and operational results on August 4, 2021, after market close. A conference call is scheduled for August 5, 2021, at 8:00 AM ET, where the company will discuss the results but will not take questions due to its transaction with OptumInsight. Investors can listen to the call via the Company's website, with the webcast available on-demand for a year.
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