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Health Catalyst, Inc. (Nasdaq: HCAT) is a leading provider of data and analytics technology and services to healthcare organizations. Founded by healthcare veterans, the company specializes in building comprehensive data warehousing and process improvement solutions, aiming to significantly enhance healthcare delivery. Health Catalyst's innovative solutions are powered by its adaptive data architecture, which uses a late-binding bus model for agile and quick implementation.
The company operates primarily through two segments: Technology and Professional Services. The Technology segment is the key revenue driver, providing data platforms, analytics applications, and support services under cloud-based subscriptions, time-based licenses, and maintenance agreements. The Professional Services segment offers analytics, implementation, strategic advisory, outsourcing, and improvement services, enabling clients to maximize the utility of Health Catalyst's technological offerings.
Health Catalyst has recently gained recognition with several achievements:
- VitalCDM: Ranked number one in the Revenue Cycle - Chargemaster Management category of the 2024 Best in KLAS: Software & Services.
- MeasureAble™: Achieved ONC-Health IT 2015 Edition Certification, allowing its use for various quality reporting programs.
- Able Health Registry: Received QPP Qualified Registry approval for the 2024 performance year from CMS.
- Acquisition of Carevive Systems: Strengthened their capabilities in oncology data analytics, improving patient care and outcomes.
Financially, Health Catalyst continues to show promising trends, with forward-looking revenue and EBITDA guidance indicating growth. The company frequently updates its investors through quarterly earnings calls and reports, reflecting transparency and financial health.
Health Catalyst envisions a future where all healthcare decisions are data-informed, leveraging a cloud-based data platform encompassing over 100 million patient records and trillions of data points. This commitment to data-informed decision-making is at the core of its mission to drive measurable improvements in clinical, financial, and operational metrics for healthcare organizations.
For more information, visit the Health Catalyst Investor Relations page.
Health Catalyst launched Healthcare.AI, a suite of AI products and services aimed at addressing challenges in revenue, cost, and quality within healthcare organizations. The suite expands AI use cases, featuring five levels of analytics. It allows easy integration into existing tools and significantly reduces the time required to deliver analytical insights from months to minutes. Expert services support organizations in tailoring predictive models. This innovation aims to improve decision-making across various healthcare settings, addressing the industry's evolving challenges.
SOUTH JORDAN, Utah, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Health Catalyst (Nasdaq: HCAT) announced participation in upcoming investor conferences. Bryan Hunt, CFO, and Adam Brown, SVP of Investor Relations, will present at the Raymond James & Associates’ 42nd Annual Institutional Investors Conference on March 3, 2021, with a fireside chat at 12:30 p.m. EST. They will also participate in the 2021 Truist Securities Technology, Internet & Services Conference on March 9, 2021. Health Catalyst provides data and analytics technology to healthcare organizations to improve clinical, financial, and operational outcomes.
Health Catalyst (HCAT) reported its 2020 financial results, showcasing a 22% increase in total revenue, reaching $188.8 million. Technology revenue surged 32% year-over-year, driven by strong demand for data analytics amid the pandemic. Despite revenue growth, net losses ballooned by 202% to $43 million due to increased operational expenses. The company maintained a 102% dollar-based retention rate for its technology services, although professional services retention declined. Health Catalyst is optimistic about future growth, considering its robust technology usage during the health crisis.
Transformation Capital, a leader in digital health investments, announced the hiring of Jenna Ciotti as Vice President and Akhi Samant as Associate. Jenna, with experience at M33 Growth, will drive deal sourcing in digital health. She holds degrees from Yale University and focuses on improving health outcomes. Akhi, formerly at Goldman Sachs, brings expertise in technology and finance. Their addition aligns with Transformation's growth strategy and commitment to supporting innovative healthcare solutions, enhancing its impactful portfolio that includes notable companies like Health Catalyst (NASDAQ: HCAT).
Health Catalyst (HCAT) has partnered with Smarter Health, a Singapore-based healthcare technology company, to enhance data integration between payors and providers in Southeast Asia. This collaboration aims to address inefficiencies in medical billing and claims administration, leveraging Health Catalyst's Data Operating System and analytics capabilities. The partnership will facilitate improved transparency, service, and satisfaction within the healthcare ecosystem, ultimately supporting payors in evaluating care appropriateness and cost.
Health Catalyst (Nasdaq: HCAT) will announce its fourth quarter and full year 2020 operating results on February 25, 2021, after market close. A conference call will be held at 5 p.m. E.T. on the same day to discuss the results. The call can be accessed by U.S. participants at 1-877-295-1104 or 1-470-495-9486 internationally, using participant code 3180522. An online audio webcast will also be available. Health Catalyst specializes in data and analytics technology for healthcare, aiming for data-informed healthcare decisions.
Vitalware by Health Catalyst announced that its chargemaster management solution, VitalCDM, has ranked number one in the Revenue Cycle - Chargemaster Management category of the 2021 Best in KLAS Awards. This marks the third consecutive year VitalCDM has received this accolade. The recognition stemmed from client feedback in 2020, highlighting client satisfaction, functionality, and support. This achievement underscores VitalCDM's ability to enhance operational efficiency, ensure compliance, and improve reimbursement accuracy for hospitals amidst challenging economic conditions.
Health Catalyst (Nasdaq: HCAT) announced the re-appointment of Stephen Grossbart, Ph.D., as a member of the National Quality Forum's Primary Care and Chronic Illness Standing Committee on Jan. 11, 2021. Grossbart has been on the committee since 2017, contributing to significant healthcare quality measures amid ongoing challenges like the coronavirus pandemic. The committee oversees important healthcare measures, crucial for improving treatment outcomes for chronic and infectious diseases.
Transformation Capital Partners has launched its oversubscribed growth equity fund, Transformation Capital Fund II, with $500 million in capital commitments. This fund targets investments in commercial-stage digital health companies aiming to improve healthcare efficiency and consumer access. The firm, managing over $800 million across its funds, leverages its deep industry expertise and extensive healthcare network to support digital health entrepreneurs. The pandemic has accelerated the adoption of digital health solutions across the sector, positioning Transformation Capital as a key partner for growth.
Health Catalyst (Nasdaq: HCAT) will participate in the 39th Annual J.P. Morgan Healthcare Conference from January 11-14, 2021. CEO Dan Burton and CFO Bryan Hunt will present on January 11 at 5:20 p.m. EST. The conference will be held virtually, allowing broader access to healthcare stakeholders. An audio replay of their presentation will be available on the company's investor relations website. Health Catalyst is known for its advanced data and analytics solutions aimed at improving healthcare outcomes through informed decision-making.
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