Streamline Health Solutions, Inc. - STRM STOCK NEWS

Streamline Health Solutions (Nasdaq: STRM), a provider of healthcare revenue leakage and financial performance solutions, announced it will release its fiscal third quarter 2024 financial results for the period ended October 31, 2024, on Monday, December 16, 2024, after market close. The company will host a conference call on Tuesday, December 17, 2024, at 9:00 AM ET to discuss results and provide updates.

Participants can join via webcast or by dialing 877-407-8291. A replay will be available through December 24, 2024, and can be accessed by phone or through the company's website for six months.

Streamline Health Solutions (NASDAQ: STRM) has secured a new contract for its eValuator solution with a 900-bed health system in northern Texas. The healthcare facility, which uses Altera EHR, becomes the fourth Texas health system to adopt eValuator's pre-bill code audit technology. The AI-enhanced solution helps healthcare providers improve financial performance by ensuring accurate medical coding, billing, and payment capture while preventing denials.

Streamline Health Solutions has expanded its relationship with a Florida academic medical center by implementing the new eValuator Quality Module. This addition is expected to increase SaaS revenues from this client by 20%. The module provides real-time AI-powered pre-bill code auditing and analyzes 100% of encounters, enabling healthcare providers to assess risk scores and quality measurement impact in real-time. The technology aims to improve hospital financial performance by ensuring accurate billing, preventing denials, and eliminating manual post-hoc risk scoring practices.

Streamline Health Solutions (NASDAQ: STRM) has expanded its relationship with an existing eValuator client by adding the new eValuator Quality Module. This addition is expected to increase SaaS revenues from this client by 25%. The Quality Module enables real-time risk scoring and quality measurement impact, allowing healthcare providers to assess claim risk scores and their effect on quality measurements instantly. The AI-powered system analyzes 100% of encounters in real-time, helping providers accurately capture and bill for care while avoiding denials.

Streamline Health Solutions, Inc. (NASDAQ: STRM) has announced a 1-for-15 reverse stock split of its outstanding shares of Common Stock, effective October 4, 2024. This decision, approved by the Board of Directors and stockholders, aims to bring the company into compliance with Nasdaq's minimum bid price requirement. The Common Stock will continue trading on The Nasdaq Capital Market under the symbol "STRM" but with a new CUSIP number.

Key points:

• Effective at 12:01 a.m. EDT on October 4, 2024
• Every 15 shares will be combined into one share
• No fractional shares will be issued; cash will be paid for fractional entitlements
• The split applies to all convertible securities and equity awards
• Computershare Inc. is acting as the exchange agent

Streamline Health Solutions (NASDAQ: STRM) reported fiscal Q2 2024 results, showing a net loss of ($2.8 million) compared to ($2.5 million) in Q2 2023. Total revenue decreased to $4.5 million from $5.8 million year-over-year. However, SaaS revenue grew 19% on a pro forma basis, excluding a non-renewed contract. Adjusted EBITDA improved to ($0.3 million) from ($0.9 million) in Q2 2023.

The company reiterated its $15.5 million implemented SaaS ARR adjusted EBITDA breakeven run rate expectation but updated the timeline to achieve this to the second half of fiscal 2025. As of July 31, 2024, Booked SaaS ACV was $13.6 million, with $10.7 million implemented. The company won new contracts totaling $0.8 million ACV but received non-renewal notifications for $2.8 million ACV.

Streamline Health Solutions (Nasdaq: STRM), a leading provider of healthcare revenue leakage and financial performance solutions, has announced its schedule for releasing fiscal second quarter 2024 financial results. The company will disclose its financial performance for the three-month period ended July 31, 2024, on Wednesday, September 11, 2024, after the financial markets close.

A conference call is scheduled for Thursday, September 12, 2024, at 9:00 AM ET to review the results and provide a corporate update. Interested parties can join via webcast or by dialing 877-407-8291. A replay will be available until September 19, 2024, by phone and for six months online in the Investor Relations section of the Streamline website.

Streamline Health Solutions, Inc. (NASDAQ: STRM) has expanded its contract for RevID with a 425-bed, Oracle-EHR based children's health system, extending the term for an additional 5 years. RevID's automated charge reconciliation aims to accelerate cash flow by ensuring accurate capture, billing, and payment for all provided care.

The expansion demonstrates the client's continued trust in Streamline's products and team. Streamline Health is leading an industry movement to improve hospital financial performance through pre-bill technology solutions. The company's CEO, Ben Stilwill, expressed enthusiasm for supporting the client's goal of accurate payment and sharing their experience with future clients.

Streamline Health Solutions (NASDAQ: STRM) announced a new contract for its eValuator solution with a 750-bed academic medical center in Texas. The eValuator uses AI-enhanced pre-bill code auditing to improve revenue integrity by ensuring accurate billing and avoiding denials. This partnership was enabled by eValuator's TX-RAMP certification, allowing Streamline to engage with all Texas state-funded health systems. CEO Ben Stilwill expressed excitement about expanding their client base and enhancing financial performance for more health systems.