Welcome to our dedicated page for Performant Finl news (Ticker: PFMT), a resource for investors and traders seeking the latest updates and insights on Performant Finl stock.
Company Overview
Performant Finl Corp (PFMT) is a publicly traded entity that provides technology-enabled recovery and analytics services. The company is dedicated to addressing the challenges associated with waste, improper payments, and unpaid debts across a broad spectrum of public and private markets. By leveraging advanced data analytics, sophisticated workflow technologies, and a team of seasoned industry experts, PFMT helps organizations enhance revenue and contain costs. Its service offerings are built around identifying and recovering elusive funds in sectors such as healthcare, student loans, and government receivables, making it a vital player in minimizing financial inefficiencies.
Technology and Analytics
At the heart of PFMT's operations is a proprietary data processing platform that enables the analysis of vast datasets with precision and speed. This advanced analytics capability allows the company to detect anomalies and improper payments quickly, thereby maximizing recovery outcomes. The integration of this technology with comprehensive recovery processes ensures a seamless and effective approach to unlocking value hidden within large, complex data streams.
Recovery and Workflow Infrastructure
PFMT's recovery infrastructure is designed to manage accounts that span extremely high dollar ranges. The company employs highly scalable workflow technologies that allow it to process numerous cases simultaneously, ensuring that each account is handled with meticulous attention. This infrastructure, combined with a success-based fee model, aligns the company’s performance directly with the financial benefits realized by its clients.
Market Segments and Services
The company operates across multiple market segments, serving both government and private entities. It offers its services on an outsourced basis, managing many or all aspects of its clients' recovery processes. Whether it is the identification and recovery of student loan assets, correcting improper healthcare payments, or reclaiming delinquent state tax and federal treasury receivables, PFMT’s diversified approach helps mitigate common financial losses that affect various sectors.
Business Model and Revenue Generation
PFMT utilizes a success-based revenue model, earning fees as a percentage of the funds recovered for its clients. This performance-driven approach ensures that the company’s interests are closely aligned with those of its clients. By focusing on the recovery of funds that might otherwise be lost, PFMT drives immediate financial impact and operates with a clear value proposition that resonates across multiple industries.
Expertise and Operational Scale
The company prides itself on its team of experienced professionals who have a deep understanding of industry intricacies. This expertise is essential in navigating the regulatory and operational complexities that industries such as healthcare and government finance present. The operational scale of PFMT is supported by a robust staffing allotment and strategically located offices, enhancing its ability to manage recovery processes involving substantial dollar volumes and complex cases.
Competitive Position and Value Proposition
PFMT’s competitive edge lies in its ability to merge traditional recovery practices with cutting-edge technology. This unique combination of seasoned expertise, advanced analytics, and scalable process management distinguishes it from other service providers in the recovery and analytics space. The company’s comprehensive approach not only minimizes financial leakage but also provides a transparent and measurable return on investment for its clients.
Key Considerations
Investors and stakeholders interested in understanding PFMT should note the company’s diverse client base and its ability to operate effectively in a highly specialized market. The use of sophisticated technologies and a strong adherence to proven recovery methodologies underpin its operational strategy. While PFMT remains focused on mitigating improper payments and recovering lost assets, its commitment to operational excellence and industry-specific expertise are what enable it to maintain competitiveness in an ever-evolving financial services landscape.
Performant Healthcare Solutions (Nasdaq: PFMT) announced that Rohit Ramchandani, SVP of Finance and Strategy, will participate in a fireside chat at the LifeSci Partners HealthTech Symposium on September 21, 2022, at 3:30 PM ET. The Company provides technology-enabled payment integrity, eligibility, and analytics services, focusing on healthcare payment integrity. Performant serves healthcare payers in both government and commercial markets to identify improper payments and reduce losses. A live audio webcast can be accessed via the Company's investor relations website.
Performant Healthcare Solutions (Nasdaq: PFMT) announced the participation of President Simeon Kohl and SVP Rohit Ramchandani in two investor conferences: the 12th Annual Midwest IDEAS Investor Conference on August 25, 2022, in Chicago, and Lake Street's BIG6 Conference on September 14, 2022, in New York City. The Midwest conference will feature a presentation at 11:00 am CT, which will be webcast. Performant specializes in payment integrity and analytics services in the U.S. healthcare sector, helping clients avoid improper payments through advanced technology.
Performant Financial Corporation (Nasdaq: PFMT) reported its second-quarter results for 2022, showing total revenues of $25.7 million, a decline from $32.8 million year-over-year. Healthcare revenues increased by 17% to $21.8 million. The company incurred a net loss of approximately $(3.2) million, or $(0.04) per diluted share, compared to a net loss of $(1.5) million, or $(0.03) per diluted share in the previous year. Adjusted EBITDA stood at $(1.4) million, significantly down from $4.2 million in the prior year. The company maintains 2022 healthcare revenue guidance of $92-$96 million.
Performant Financial Corporation (NASDAQ: PFMT) will report its second quarter 2022 results post-market on August 8, 2022. A conference call will follow at 5:00 PM ET to discuss the results. Stakeholders can access the call via phone or through a live webcast on the company’s Investor Relations page. Performant provides technology-enabled payment integrity and analytics services, primarily focusing on healthcare sectors including Medicare and Medicaid. The company enhances revenue and minimizes costs by identifying and recovering improper payments.
Performant Financial Corporation (NASDAQ: PFMT) has announced a new dba name, Performant Healthcare Solutions, reflecting its focus on the healthcare industry, which constitutes the majority of its revenue and strategic growth initiatives. This rebranding will not affect the company's ticker symbol or corporate structure. President Simeon Kohl emphasized the company's historical engagement in healthcare since 2005, citing the importance of this sector in their future direction and growth. For more details, visit www.performanthealth.com.
Performant Financial Corporation (NASDAQ: PFMT) will participate in the 19th Annual Craig-Hallum Institutional Investor Conference on June 1st. President Simeon Kohl and Senior VP Rohit Ramchandani will engage with investors throughout the virtual event. Performant specializes in technology-enabled payment integrity and analytics services, focusing on the healthcare industry to identify improper payments through claims auditing. Founded in 1976 and based in Livermore, California, the company aims to reduce losses for clients in both government and commercial sectors.
Performant Financial Corporation (Nasdaq: PFMT) reported Q1 2022 financial results with total revenues of $27.1 million, a 14% decline from $31.4 million in the prior year. Healthcare revenues grew by 76% to $23.4 million, driven by strong performance in claims-based and eligibility-based services. Despite a net loss of $1.7 million, an improvement from $4.4 million a year ago, adjusted EBITDA increased to $0.3 million. The company anticipates healthcare revenues to reach $92-$96 million in 2022, amid potential challenges from COVID-19 variants.
Performant Financial Corporation (NASDAQ: PFMT) will announce its Q1 2022 results following market closure on May 9, 2022. A conference call is scheduled for 5:00 PM Eastern Time to discuss these results. Interested parties can join the call by dialing 844-826-3033 (domestic) or 412-317-5185 (international). A replay will be accessible approximately three hours post-call until March 22, 2022. The call will also be streamed live on the company's investor relations website.
Performant Financial Corporation (Nasdaq: PFMT) reported a 21% decline in fourth quarter revenues at $31.6 million, compared to $40.0 million in the prior year. Healthcare revenues rose 35% to $25.6 million. The company posted a net loss of $2.6 million, contrasting with a net income of $3.7 million a year prior. For the full year, total revenues dropped 20% to $124.4 million, with healthcare revenues increasing 13%. Adjusted EBITDA fell to $11.9 million from $20.5 million. Looking forward, 2022 guidance estimates healthcare revenues between $90 - $94 million.
Performant Financial Corporation (NASDAQ: PFMT) will release its fourth quarter and full year 2021 results on March 15, 2022, after market close. A conference call to discuss these results is scheduled for 5:00 PM Eastern Time on the same day. Participants can join by calling 877-705-6003 for domestic access or 201-493-6725 for international calls. The call will also be available via a live webcast on the company's investor relations website. A replay will be accessible until March 22, 2022.
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