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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 (HCAT) has partnered with MemorialCare to implement Twistle, a patient engagement technology aimed at improving care for pediatric cardiology patients. This collaboration allows MemorialCare to remotely monitor patient progress and enhance communication between caregivers and families. MemorialCare serves over 8,000 children annually, providing specialized care and pediatric expertise. This partnership is expected to elevate patient outcomes significantly, aligning with Health Catalyst's vision of data-informed healthcare.
Health Catalyst (Nasdaq: HCAT) has announced the selection of its PowerCosting™ analytics application by Carle Health to enhance financial transformation efforts. This collaboration builds on an existing partnership aimed at improving clinical, operational, and financial performance. Carle Health, based in Urbana, Illinois, operates a comprehensive healthcare system including five hospitals and over 1,000 healthcare professionals. The integration of Health Catalyst's Data Operating System (DOS™) will provide insights into the true cost of care, aiding in better decision-making and operational efficiency.
Health Catalyst, Inc. (Nasdaq: HCAT) announced that it has documented over 5.4 million lives positively impacted by its initiatives, leading to $1.5 billion in validated improvements across 300 case studies. The company emphasizes its role in addressing the healthcare waste crisis, estimated between $760 billion and $935 billion. As of June 23, 2022, it has built a robust base of over 400 healthcare organizations that utilize its data and analytics technology for performance enhancements in clinical, operational, and financial outcomes.
Health Catalyst, a leader in data and analytics technology for healthcare, announced participation in two key investor conferences. CFO Bryan Hunt and SVP Adam Brown will present at William Blair’s 42nd Annual Growth Stock Conference in Chicago on June 7, 2022, at 12:40 pm CT, and at the Stifel Cross-Sector Insight Conference in Boston on June 8, 2022, at 3:35 pm ET. Health Catalyst's cloud-based platform leverages over 100 million patient records to drive data-informed healthcare improvements.
Health Catalyst (HCAT) has acquired ARMUS Corporation, a Silicon Valley firm specializing in clinical registry development and data management. This acquisition aims to enhance Health Catalyst's Clinical Quality and Outsourced Services offerings by integrating ARMUS's technology with its own Data Operating System (DOS™). Health Catalyst expects this strategic move to streamline operations for healthcare organizations and deliver significant financial savings. The collaboration promises to advance data abstraction and registry reporting capabilities, addressing the increasing demand for data-driven insights in healthcare.
Health Catalyst, Inc. (HCAT) reported Q1 2022 financial results, showing a 22% year-over-year revenue increase to $68.1 million, exceeding guidance. Adjusted EBITDA reached $671,000, a significant turnaround from a $(837,000) loss a year prior. Technology revenue rose 25% to $42.2 million, while professional services revenue grew 17% to $25.9 million. The net loss decreased by 21% to $22.5 million, highlighting improved operational efficiency amid labor market challenges. The company aims for continued growth and stability as it marks its third year as a public entity.
Health Catalyst (Nasdaq: HCAT) will release its first quarter 2022 operating results on May 10, 2022, after market close. A conference call to discuss these results is scheduled for the same day at 5 p.m. E.T. Participants can join by dialing (877) 295-1104 for U.S. calls or (470) 495-9486 for international calls, using participant code 2480316. The event will also be streamed live online, with a replay available for approximately 90 days. Health Catalyst specializes in data and analytics technology for healthcare organizations, helping them improve clinical and operational outcomes.
Health Catalyst (Nasdaq: HCAT) announced a strategic partnership with Tallahassee Memorial HealthCare (TMH) on March 10, 2022. This multi-year collaboration aims to implement a scalable analytics platform to consolidate TMH's data sources, supporting clinical improvement in areas like infection rates and patient readmissions. TMH will utilize Health Catalyst’s Data Operating System (DOS™) and Analytic Accelerators for enhanced data access and analytics efficiency. The partnership focuses on improving patient outcomes and operational excellence, marking a significant step toward data-informed healthcare transformation.
Health Catalyst (HCAT) reported strong Q4 and full-year 2021 results, exceeding revenue and Adjusted EBITDA guidance. Q4 revenue reached $64.7M, a 21% increase YoY, while full-year revenue grew 28% to $241.9M. Technology revenue rose 34% to $147.7M, and professional services revenue increased by 20% to $94.2M. Despite a net loss of $48.99M in Q4, the company's dollar-based retention rate improved to 112%. Health Catalyst continues to prioritize consistent performance as a public entity, marking its achievements amid a challenging macro environment.
Health Catalyst (Nasdaq: HCAT) announced its partnership with Temple University Health System on Feb 23, 2022. Temple Health will implement PowerCosting™ from Health Catalyst's Financial Empowerment Suite to enhance financial performance and clinical outcomes. CFO Nick Barcellona emphasized the strategic investment for delivering high-value patient care. This engagement aims to provide insights into true costs and improve resource utilization amidst challenges like shifting payer mixes and rising expenses. Health Catalyst’s CEO Dan Burton expressed confidence in the partnership's potential for measurable healthcare improvements.
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