Streamline Health Solutions, Inc. - STRM STOCK NEWS

Streamline Health Solutions (Nasdaq: STRM) reported substantial growth in its fiscal 2022 results, highlighting a 53% increase in SaaS revenue compared to fiscal 2021. The total contract value for SaaS bookings reached $22.4 million, up from $5.6 million in fiscal 2021. The company also achieved $17.2 million in Booked SaaS Annual Contract Value (ACV) as of January 31, 2023, an increase from $10.6 million the previous year. Total revenues for the fourth quarter rose by 12% to $6.7 million, while full-year revenues reached $24.9 million, a 43% increase. Despite these gains, the company reported a net loss of ($11.4 million) for fiscal 2022, up from ($6.5 million) in fiscal 2021, largely due to increased operating expenses.

Streamline Health Solutions (Nasdaq: STRM) will announce its financial results for the three and twelve months ended January 31, 2023, on April 26, 2023, after market close. This announcement will be followed by a conference call on April 27, 2023, at 9:00 AM ET, where the management will review the results and provide corporate updates. Interested individuals can access the call via a live webcast or by phone. A replay of the call will be available from April 27, 2023, until May 4, 2023. Streamline Health Solutions provides technology-enabled services and analytics aimed at improving financial performance for healthcare organizations, addressing revenue leakage through integrated solutions.

Streamline Health Solutions (NASDAQ: STRM) announced a contract with a 1,600-bed health system in New Jersey to utilize its eValuator automated pre-bill coding analysis platform. This partnership aims to enhance revenue integrity and financial performance for inpatient and outpatient care. eValuator facilitates quick identification and correction of coding issues, reducing billing delays. President Ben Stilwill emphasized the importance of accurate reimbursement in supporting the health system's mission of quality care. Streamline Health focuses on technology-enabled services and analytics to maximize financial performance for healthcare providers.

Streamline Health Solutions (NASDAQ: STRM) reported preliminary fiscal year 2022 results showing total revenues between $24.9 million and $25.2 million, a growth of approximately 43% – 45% from $17.4 million in fiscal 2021. SaaS revenue is projected to be $12.2 million to $12.5 million, reflecting an increase of 51% – 54% compared to $8.1 million last year. Additionally, booked SaaS ACV reached $17.2 million, surpassing expectations. The company aims for $30 million in booked SaaS ACV by the end of fiscal 2023. CEO Tee Green expressed optimism regarding accelerated growth in SaaS revenue.

Streamline Health Solutions (NASDAQ: STRM) announced a new contract for its RevID system with a 350-bed California medical center, enhancing healthcare revenue integrity through automated charge reconciliation. This solution aims to improve financial performance by ensuring accurate billing and payment for services rendered. The company is promoting pre-bill technology solutions to further support healthcare providers in capturing necessary charges. Ben Stilwill, President of Streamline Health, emphasizes the importance of partnerships to optimize financial results for healthcare clients.

Streamline Health Solutions (NASDAQ: STRM) has secured a contract with a 450-bed health system in Virginia to deploy its eValuator technology, aimed at enhancing revenue integrity and financial performance from patient encounters.

This initiative allows healthcare providers to address coding issues pre-billing, significantly reducing the risk of revenue leakage and denied claims. Streamline Health emphasizes its role in advancing pre-bill technology across hospitals, optimizing coding accuracy before billing and supporting transitions to new payment models. President Ben Stilwill expresses confidence in improving healthcare providers' financial outcomes.

Streamline Health Solutions (NASDAQ: STRM) has announced an expansion in its partnership with a major healthcare system managing over 80 facilities across the U.S. This expansion includes increased utilization of the RevID automated charge reconciliation solution, aimed at improving financial performance. Additionally, the company has surpassed its target, achieving over $17 million in booked SaaS ACV by the end of fiscal 2022. The president of Streamline Health, Ben Stilwill, expressed optimism for continued growth due to their commitment to ensuring healthcare providers are compensated for their services.

Streamline Health Solutions (NASDAQ: STRM) announced a contract with a 350-bed health system in Missouri to implement its eValuator automated pre-bill coding analysis technology. This initiative aims to enhance revenue integrity and financial performance by addressing coding issues before they result in denied claims and revenue leakage. The company combines this technology with expert auditing services to optimize billing accuracy. The President, Ben Stilwill, expressed enthusiasm for supporting the health system in ensuring accurate payments for services rendered.

Streamline Health Solutions (NASDAQ: STRM) has signed a contract with an 850-bed health system in Tennessee to implement its eValuator automated pre-bill coding analysis technology. This initiative aims to enhance revenue integrity and financial performance by addressing coding issues before they lead to revenue leakage and denied claims. Streamline Health combines this technology with expert auditing services to optimize coding accuracy prior to billing. The company emphasizes improving financial performance while aiding the transition to new payment models.