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. (NASDAQ: HCAT) announced the addition of Dr. Melissa Welch as Chief Medical Officer and Dr. Edward Sheen as Chief Population Health Officer. Dr. Welch will support client growth and healthcare improvements, while Dr. Sheen will lead value-based care initiatives. Both new leaders are dedicated to advancing Health Catalyst's mission of data-informed healthcare improvements. Their combined experience in public health and healthcare systems is expected to enhance the company's capabilities and impact in the healthcare sector.
Health Catalyst (Nasdaq: HCAT) announced a $40 million share repurchase program, highlighting their confidence in long-term value. CEO Dan Burton stated the current market does not reflect their true stock value. Repurchases will be discretionary based on market conditions and funded by existing cash, estimated at $403.3 million as of June 30, 2022. The program aims to enhance shareholder value while allowing flexibility in buying patterns.
Health Catalyst (Nasdaq: HCAT) reported Q2 2022 financial results, achieving total revenue of $70.6 million, an 18% year-over-year increase. Technology revenue rose 28% to $45.4 million, while professional services revenue grew 5% to $25.2 million. Despite this, the company revised its full-year revenue and Adjusted EBITDA outlook downwards due to a challenging market environment impacting bookings. However, Health Catalyst remains focused on financial discipline and expects improved Adjusted EBITDA leverage in 2023.
Health Catalyst (Nasdaq: HCAT) partners with LifePoint Health to improve quality in patient care using data analytics technology. This multi-year collaboration aims to enhance LifePoint's National Quality Program by leveraging Health Catalyst's Data Operating System and other analytical tools. The partnership is set to reduce clinical outcome variations and improve decision-making across LifePoint's network of 63 hospitals and additional care sites. Both companies emphasize their commitment to data-driven approaches in healthcare delivery.
Health Catalyst (Nasdaq: HCAT) has announced a multi-year strategic partnership with Akron Children's Hospital, enhancing its analytics platform to improve pediatric care. The collaboration aims to boost patient experiences and operational efficiency using Health Catalyst's advanced analytics tools. Key offerings include the Data Operating System and various analytics applications to support Akron Children's Health Collaborative in enhancing child health and operational outcomes across two hospitals serving over 287,000 children annually.
Health Catalyst, a leader in data and analytics technology for healthcare, will announce its second quarter 2022 operating results on August 4, 2022, after market close. The company will also conduct a conference call at 5 p.m. E.T. the same day to discuss the results. Health Catalyst offers a cloud-based platform utilized by healthcare organizations to drive data-informed decisions, drawing from over 100 million patient records to enhance clinical, financial, and operational outcomes.
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.
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