Welcome to our dedicated page for Performant Healthcare news (Ticker: PFMT), a resource for investors and traders seeking the latest updates and insights on Performant Healthcare stock.
Performant Financial Corporation (NASDAQ: PFMT) is a leading provider of technology-enabled recovery and analytics services in the United States. The company specializes in enhancing revenue and reducing costs by preventing, identifying, and recovering outstanding and improperly paid assets. With a robust infrastructure and a seasoned team of experts, Performant delivers impactful financial solutions to its clients.
Performant's core business involves recovery services that span multiple sectors, including student loans, healthcare payments, and delinquent state and federal taxes. By leveraging a proprietary technology platform, the company offers comprehensive recovery and analytics services that can efficiently handle large data sets. These services are primarily offered on an outsourced basis, allowing clients to outsource many or all aspects of their recovery processes.
One of the key strengths of Performant is its ability to offer success-based revenue models, where it earns fees based on the percentage of funds recovered for its clients. This aligns the company's incentives with those of its clients, fostering a collaborative and results-driven relationship.
Performant Financial has more than 1,500 employees and operates out of five office locations across the United States. This extensive network allows the company to offer scalable solutions that can manage accounts ranging into billions of dollars per client. The company's advanced analytics are powered by a unique data processing platform, enabling precise and speedy analysis.
The company serves a broad range of government and private clients, applying its deep industry expertise to guide resources and achieve significant results. Performant's seasoned experts are well-versed in the intricacies of various industries, making them capable of delivering customized solutions that meet specific client needs.
For the latest updates and news about Performant Financial Corporation, investors and stakeholders are encouraged to visit the company's official website or consult recent press releases and financial reports. Performant's innovative approach and commitment to excellence make it a significant player in the recovery and analytics services market.
Performant Healthcare (Nasdaq: PFMT) has announced its ticker symbol will change from 'PFMT' to 'PHLT' effective December 18, 2024. This change reflects the company's transformation into a pure-play healthcare payment integrity leader. The transition requires no action from shareholders, and there will be no changes to the company's CUSIP number, GICS, and NAICS codes.
Performant specializes in supporting healthcare payers by identifying and preventing waste and improper payments through advanced technology and analytics. The company provides both eligibility-based coordination-of-benefits (COB) services and claims-based audit services in government and commercial healthcare markets.
Performant Financial (Nasdaq: PFMT) announced its name change to Performant Healthcare, Inc. and plans to update its ticker symbol to PHLT. The change reflects the company's strategic shift to become a pure-play leader in healthcare payment integrity, following its 2021 decision to focus on healthcare services.
The company has successfully transitioned resources, attracted talent, and secured new business, including the New York State Medicaid RAC award. The Customer Care outsourced servicing business, representing less than 5% of total revenues for the first nine months of 2024, is being phased out.
Performant specializes in helping healthcare payers identify and prevent waste and improper payments through technology, analytics, and data assets, offering both eligibility-based and claims-based services.
Performant Financial (Nasdaq: PFMT), a technology-enabled payment integrity and analytics services provider, will participate in the Noble Capital Markets 20th Annual Emerging Growth Equity Conference in Boca Raton on December 3rd. CEO Simeon Kohl will present key updates including the New York State Medicaid RAC award, efficiency initiatives for margin improvement, successful commercial implementations, and upcoming government opportunities.
The company specializes in supporting healthcare payers with waste and improper payment prevention through advanced technology, analytics, and proprietary data assets. Their services include eligibility-based coordination-of-benefits (COB) and claims-based auditing services in both government and commercial healthcare markets.
Performant Financial (Nasdaq: PFMT) announced its participation in the 15th Annual Craig-Hallum Alpha Select Conference in New York City on November 19th. CEO Simeon Kohl and CFO Rohit Ramchandani will meet with investors to discuss several key updates, including the New York State Medicaid RAC award, efficiency initiatives for margin improvement, successful commercial implementations, and upcoming government opportunities.
The company, which specializes in technology-enabled payment integrity, eligibility, and analytics services, supports healthcare payers in identifying and preventing improper payments through advanced technology and data analytics. Their services include coordination-of-benefits (COB) and claims-based auditing for both government and commercial healthcare markets.
Performant Financial (PFMT) reported Q3 2024 results with healthcare revenues of $30.3 million, up 6% year-over-year, and total revenues of $31.5 million, a 5% increase. The company posted a net loss of $2.4 million, or $(0.03) per diluted share, compared to a net loss of $0.6 million in the prior year. Adjusted EBITDA was $1.9 million. The company reaffirmed its 2024 guidance, expecting healthcare revenues between $117-122 million and adjusted EBITDA of $4-5 million. Notable achievements include implementing 32 commercial programs expected to generate $13-14 million in annualized revenue and securing their first State Medicaid contract with New York.
Performant Financial (PFMT) has announced it will release its third quarter 2024 financial results after market close on November 6, 2024. The company will host a conference call at 5:00 PM Eastern Time on the same day to discuss the results.
Investors can join via phone (800-717-1738 or 646-307-1865) or through a live webcast on the company's website. A replay will be available approximately three hours after the call through the company website or by dialing 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 1114357.
Performant Financial (Nasdaq: PFMT) has been selected for a tentative award of the New York State Medicaid Recovery Audit Contractor (RAC) by the NYS Office of the Medicaid Inspector General (OMIG). The award spans up to five years, with an initial three-year term and potential for two one-year extensions. Performant will use its technology and claims review services to identify and rectify improper payments in post-payment assessments.
This marks Performant's entry into the significant New York State Medicaid market, estimated to generate $300-$500 million in annual revenue nationwide. The company now holds three out of five CMS RAC contracts and serves as the exclusive partner for CMS' Medicare Secondary Payer Commercial Repayment Center. Performant's CEO, Simeon Kohl, emphasized the company's strong government presence and commitment to serving both government and commercial clients.
Performant Financial (Nasdaq: PFMT), a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, has announced its participation in two investor conferences in September 2024:
1. Wells Fargo Healthcare Conference in Boston on September 4th
2. Lake Street Capital Markets "Big8" Best Ideas Growth Conference in NYC on September 12th
CFO Rohit Ramchandani will host 1:1 meetings with investors at both events. The company's updated investor presentation is available on their website. Performant specializes in supporting healthcare payers to identify, prevent, and recover waste and improper payments using advanced technology, analytics, and proprietary data assets. They offer eligibility-based (COB) and claims-based services in both government and commercial healthcare markets.
Performant Financial (NASDAQ:PFMT), a leading provider of healthcare payment integrity services, is set to present at the Q3 Investor Summit Microcap Event on August 20th, 2024. The virtual event will feature 50 micro-cap companies with catalysts and/or strong market performance.
PFMT's presentation is scheduled for 4:30 pm ET, and the company will be available for 1-on-1 meetings throughout the day. Investors can access the presentation via a webcast link provided. The event offers a unique opportunity for qualified investors to engage with promising micro-cap companies, featuring live Q&A sessions.
Performant Financial specializes in preventing improper payments for healthcare payers using advanced technology and analytics. This presentation may provide insights into the company's strategies and growth prospects in the healthcare payment integrity sector.
Performant Financial (Nasdaq: PFMT) reported its Q2 2024 financial results, showing significant growth in healthcare revenues. Key highlights include:
- Healthcare revenues increased 17% to $27.9 million
- Total revenues rose 15% to $29.4 million
- Net loss improved to $3.0 million or $(0.04) per diluted share
- Adjusted EBITDA improved to $0.5 million
The company implemented 10 commercial programs in Q2, totaling 20 for 2024, estimated to contribute $9 million in annualized steady-state revenue. Performant reiterated its 2024 guidance, expecting healthcare revenues of $117-122 million, total revenues of $124-129 million, and adjusted EBITDA of $4-5 million.
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