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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 Financial (Nasdaq: PFMT), operating as Performant Healthcare Solutions, will report its second quarter 2024 results on August 7, 2024, after market close. The company will host a conference call at 5:00 pm ET to discuss the results. Investors can join via phone or webcast, with replay options available.
Performant specializes in technology-enabled payment integrity, eligibility, and analytics services for commercial healthcare and government payers. The company helps identify and prevent waste, improper payments, and defaulted assets, serving markets including Medicare, Medicaid, and commercial healthcare. With over a decade of experience in healthcare recovery audits, Performant utilizes a proprietary analytics platform and workflow technology to provide comprehensive services.
Performant Financial (Nasdaq: PFMT) announced its participation in several June investor conferences. On June 6, Performant's Investor Relations will present and meet with investors at the Spring MicroCap Rodeo Conference in NYC. On June 13, they will be present at the East Coast IDEAS Investor Conference, again with 1:1 investor meetings. On June 26, CEO Simeon Kohl will host a panel on reducing fraud in healthcare at the Truist 2024 Healthcare Disruptors & Digital Health Summit, with both Kohl and CFO Rohit Ramchandani available for investor meetings. Performant specializes in payment integrity and analytics services, offering solutions to prevent and recover improper payments for healthcare payers. Detailed schedules and presentation materials will be available on Performant's website.
Performant Financial (Nasdaq: PFMT) reported healthcare revenues of $25.8 million, a 13% increase from the prior year. Total revenues were $27.3 million. Net loss was $4.0 million, and adjusted EBITDA was $(1.2) million. The acquisition of AI technology from RecordsOne aims to enhance efficiency and growth strategy.
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