Streamline Health Solutions In - STRM STOCK NEWS

Streamline Health Solutions (Nasdaq: STRM) announced its upcoming financial results for the period ending October 31, 2022, to be released on December 14, 2022, post-market close. A conference call is scheduled for December 15, 2022, at 9:00 AM ET, to discuss the results and provide a corporate update. Participants can join the call through a live webcast or by phone. A replay will be available from December 15 to December 22, 2022. Streamline Health focuses on helping healthcare organizations improve financial performance through integrated solutions and analytics.

Streamline Health Solutions (NASDAQ: STRM) has partnered with a California academic medical center to implement its eValuator technology for automated pre- and post-bill coding analysis. This initiative aims to enhance revenue integrity and improve financial performance by addressing coding issues before they lead to revenue leaks and denied claims. The company is promoting pre-bill technology across hospitals, combining it with expert auditing services for a comprehensive Revenue Integrity Program. This technology is expected to aid in optimizing coding accuracy and transitioning to new payment models.

Streamline Health Solutions has closed a registered direct offering of common stock, raising approximately $8.3 million, with over 30% sourced from insiders. The company has appointed new executives, consolidating its eValuator and Avelead divisions to enhance growth and profitability. Expectations for booked SaaS ACV are projected to reach $17 million by end of fiscal 2022 and $30 million by end of fiscal 2023. The consolidation is anticipated to yield annualized cost savings of approximately $3 million.

Streamline Health Solutions (Nasdaq: STRM) announced on October 25, 2022, a registered direct offering to sell 6,299,989 shares of common stock at $1.32 per share, raising approximately $8.3 million in gross proceeds. The offering is set to close around October 26, 2022, contingent on customary closing conditions. Funds will be used for general corporate purposes. The shares will be offered under a previously filed effective shelf registration statement.

Streamline Health Solutions (NASDAQ: STRM) has secured a contract with a 1,400-bed health system in the Mid-Atlantic to utilize its eValuator automated pre- and post-bill coding analysis technology. This initiative aims to enhance revenue integrity and financial performance from both inpatient and outpatient encounters. The eValuator platform will enable healthcare providers to identify coding issues early, thereby reducing revenue leakage, denied claims, and compliance risks. This strategic partnership aligns with Streamline Health's broader objective to standardize pre-bill technology across hospitals nationwide.

Streamline Health Solutions reported a robust 109% year-over-year revenue increase for Q2 2022, totaling $6.0 million. The surge was driven by a 138% growth in SaaS revenue, with $4.4 million in new SaaS bookings. However, the company experienced a net loss of ($3.3 million) compared to a net loss of ($0.1 million) in Q2 2021. Recurring revenue accounted for 71% of total revenue. The company also introduced a new metric for SaaS growth, with a Booked SaaS ACV of $14.3 million as of July 31, 2022.

Streamline Health Solutions (Nasdaq: STRM) will announce its financial results for the quarter ending July 31, 2022, on September 7, 2022, after market close. A conference call is scheduled for September 8, 2022, at 9:00 AM ET to discuss these results. Interested participants can join via a live webcast or by phone at 877-407-8291. A replay will be accessible from September 8, 2022, to September 15, 2022, using conference ID 13732058. More information can be found on their website.

Streamline Health Solutions (NASDAQ: STRM) has announced a new contract with a West Georgia health system for its eValuator pre-bill coding analysis technology. Executed on July 28, this contract aims to enhance revenue integrity and financial performance by addressing coding issues before they lead to revenue leakage. This initiative aligns with Streamline Health's mission to promote pre-bill technology implementation across healthcare providers. CEO Ben Stilwill expressed pride in partnering with the new client to improve operational and financial outcomes.

Streamline Health Company (Nasdaq: STRM) announced the expansion of its relationship with a Southwest-based healthcare system, incorporating Avelead’s Compare solution in three additional facilities for EHR conversion support. This expansion aims to enhance data quality during large-scale migrations and mitigate revenue loss. President and CEO Jawad Shaikh emphasized the importance of transparency in data migration, addressing potential issues proactively to minimize operational disruptions. Avelead, supporting over 140 providers, focuses on eliminating revenue leakage and improving financial performance.