Welcome to our dedicated page for Health Catalyst news (Ticker: HCAT), a resource for investors and traders seeking the latest updates and insights on Health Catalyst stock.
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, Inc. (HCAT) announced a five-year strategic partnership with Deaconess Health System to enhance clinical, operational, and financial performance through data analytics. The partnership aims to utilize Health Catalyst's analytics technology to transform Deaconess’s health services across 51 counties in Indiana, Illinois, and Kentucky. Deaconess will leverage Health Catalyst’s enterprise analytics tools, including the Analytic Accelerators library and Pop Insights™, to improve patient care and operational efficiency, aiming to become a fully data-driven organization. Both parties expressed enthusiasm about the potential outcomes of this collaboration.
Health Catalyst (NASDAQ: HCAT) announced a multi-year partnership with Bryan Health, a renowned health system in Nebraska, on February 28, 2023. This collaboration focuses on using Health Catalyst's data and analytics technology to enhance population health management across Bryan Health's extensive network, including 23 Critical Access Hospitals and 1,885 providers. Bryan Health will utilize Health Catalyst's Data Operating System (DOS) and related tools to improve care quality and coordination. This partnership marks Health Catalyst's first customer in Nebraska, aiming to transform healthcare services in the state.
Health Catalyst (HCAT) has appointed Matthew Kolb, COO of Carle Health, to its board of directors, effective July 1, 2023. Kolb brings extensive experience in innovative healthcare leadership. His insights are expected to enhance Health Catalyst’s understanding of healthcare challenges. Additionally, Carle Health announced its decision to become a shareholder in Health Catalyst through recent stock purchases. This partnership, which began in 2020, has been strengthened by a new five-year contract focusing on technology-enabled services aimed at improving analytics capabilities.
Health Catalyst reported its financial results for Q4 and the full year 2022, highlighting a strong performance with total revenue increasing 7% year-over-year to $69.2 million in Q4 and 14% to $276.2 million for the year. Technology revenue rose 11% in Q4 and 19% for the year, while professional services revenue saw a slight decline of 1% in Q4 but a 6% increase for the year. Adjusted EBITDA improved significantly, showing a 90% improvement in Q4 compared to the prior year. The company also announced the appointment of Matthew Kolb to its Board and Carle Health's long-term investment in Health Catalyst. Despite challenges such as inflation impacting dollar-based retention rates, management expressed optimism for future performance.
Health Catalyst (Nasdaq: HCAT) is set to release its fourth quarter and full year 2022 operating results on February 28, 2023, after market close. A conference call will follow at 5 p.m. E.T. to discuss the results. Interested parties can dial in using (800) 343-5172 for U.S. participants or (785) 424-1699 internationally, referencing the conference ID “HCAT Q422.” A live audio webcast will also be available, with a replay accessible for approximately 90 days afterward. Health Catalyst offers data and analytics technology to healthcare organizations, aiming for significant improvements through data-informed decisions.
Health Catalyst (Nasdaq: HCAT) announced that COO Paul Horstmeier will serve as Mission President for the Church of Jesus Christ of Latter-Day Saints in Puerto Rico, effective late June 2023. He will transition to Senior Advisor on March 31, 2023, and assist in the transition of his responsibilities. CEO Dan Burton praised Horstmeier's significant contributions over the past 11.5 years. This marks the second time a senior leader at Health Catalyst has taken on such a role, following Co-Founder Steve Barlow's service in Ecuador from 2017 to 2020.
Health Catalyst, a leader in healthcare data and analytics, announced participation in the 41st Annual J.P. Morgan Healthcare Conference in San Francisco. CEO Dan Burton, CFO Bryan Hunt, and SVP Adam Brown will present on January 10, 2023, at 3:45 PM PT. A replay of the presentation will be available online. Health Catalyst utilizes a cloud-based platform powered by data from over 100 million patient records, enabling healthcare organizations to make data-driven decisions and enhance clinical, financial, and operational outcomes.
On December 5, 2022, Health Catalyst (Nasdaq: HCAT) announced a significant, multi-year agreement with Carle Health, enhancing their existing partnership. This five-year contract aims to improve Carle Health's analytics capabilities and includes an all-access technology subscription along with tech-enabled managed services. Starting January 2023, Carle Health's Clinical and Business Intelligence team will join Health Catalyst, allowing for professional growth and continued innovation in analytics support. This partnership reaffirms Health Catalyst's strong market position and is expected to positively impact patient outcomes.
Health Catalyst, a provider of data and analytics technology for healthcare, reported third-quarter 2022 results showing an 11% revenue increase year-over-year to $68.35 million. The company exceeded guidance for revenue and Adjusted EBITDA, with technology revenue rising 15% to $44 million. Adjusted EBITDA improved by 21%, showcasing operational efficiency. Health Catalyst also raised its full year 2022 revenue and Adjusted EBITDA guidance, expecting a dollar-based retention level between 97% and 101%. These results reflect strong client expansion and effective cost-reduction strategies.
Health Catalyst (Nasdaq: HCAT) announces that its KPI Ninja solution has received NCQA Certification for HEDIS® Measures for the third consecutive year. This certification validates KPI Ninja's measure logic for accurate patient data results, supporting Health Information Exchanges (HIEs) in transitioning to value-based care. The achievement demonstrates KPI Ninja's ongoing commitment to quality measures, essential for healthcare organizations aiming for enhanced population health outcomes. The certification reinforces Health Catalyst's reputation as a leading provider of data and analytics technology in healthcare.
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