Streamline Health Solutions, Inc. - STRM STOCK NEWS

Streamline Health Solutions (NASDAQ: STRM) has secured a contract with a seven-hospital health system in Pennsylvania to implement its eValuator automated coding analysis technology. This initiative aims to enhance revenue integrity and financial performance in inpatient and outpatient services. By identifying coding issues pre-billing, the solution seeks to reduce revenue leakage and denied claims. Streamline Health focuses on improving financial performance through compliant revenue capture, emphasizing a transition to new payment models.

Streamline Health Solutions (NASDAQ: STRM) has announced leadership changes to strengthen its eValuator Solutions division. Ben Stilwill, formerly Senior Vice President of Customer Success, has been promoted to President & CEO, while Amy Sebero has joined as Chief Growth Officer. Sebero brings 40 years of healthcare software sales expertise, including experience managing over 900 health systems. The company aims to enhance its technology adoption and improve financial performance for healthcare providers.

Avelead, a Streamline Health Company (NASDAQ: STRM), has expanded its leadership team with the appointment of Sean Sykes as Chief Technology Officer and Michael Yzerman as Senior Vice President of Services. These roles aim to enhance the Avelead Platform and improve service delivery for healthcare organizations. Sykes brings over 30 years of technology experience, while Yzerman has over 20 years in healthcare IT. This leadership expansion is expected to drive growth and optimize revenue integrity solutions for hospitals, aligning with Avelead's mission to eliminate lost revenue.

Streamline Health Solutions (NASDAQ: STRM) has signed a contract with a nearly 700-bed medical center in Eastern North Carolina to implement its eValuator™ Revenue Integrity Program. This automated coding analysis technology aims to enhance revenue performance for both inpatient and outpatient services. By addressing coding issues before billing, the medical center seeks to minimize revenue leakage, denied claims, and compliance risks. The partnership reflects Streamline's commitment to improving financial resources for healthcare providers through accurate coding and documentation.

Streamline Health Solutions (Nasdaq: STRM) reported third-quarter fiscal 2021 revenues of $5.5 million, a 109% increase year-over-year. The significant revenue growth stemmed from the acquisition of Avelead, recognized for enhancing revenue integrity in healthcare. SaaS revenue soared 214% compared to the prior year, totaling $1.9 million. However, the company faced a net loss of $(4.3 million), largely from non-routine costs linked to the acquisition. Adjusted EBITDA was a loss of $(0.3 million), reflecting ongoing operational challenges.

Streamline Health Solutions (NASDAQ: STRM) will release its financial results for the three months ending October 31, 2021 on December 8, 2021, after market close. A conference call to review these results will take place on December 9, 2021, at 9:00 AM ET, accessible via a live webcast or phone. A replay will be available from December 9 to December 16, 2021. Streamline Health specializes in revenue integrity solutions for healthcare providers, including the eValuator™ program, aimed at improving financial performance.

Streamline Health Solutions (NASDAQ: STRM) announced findings from a KLAS Research report on its eValuator revenue integrity program. The report highlights that 100% of surveyed customers saw positive outcomes within six months, with a third experiencing immediate benefits. Customers praised eValuator's coding accuracy and its impact on financial performance. The automated system reduces coding overhead and improves claim clean rates, leading to quicker revenue collection. Overall, the eValuator received high marks in customer satisfaction, with clients expressing willingness to repurchase.

Streamline Health Solutions (Nasdaq: STRM) has been invited to the 12th Annual Craig-Hallum Alpha Select Conference, scheduled for November 16, 2021. The conference will be held virtually, allowing healthcare providers to engage in discussions on revenue integrity. Streamline's eValuator Revenue Integrity Program aims to help healthcare institutions improve financial performance by addressing revenue leakage. For inquiries or to schedule meetings, attendees can contact their Craig-Hallum representative or Streamline's investor relations.

Streamline Health Solutions (NASDAQ: STRM) is set to present at the Fall Harvest – Best Ideas from the Buy-Side conference on October 6, 2021, at 10:30 AM ET. This virtual conference runs from October 5-8, 2021, focusing on the top 35 investment ideas from qualified institutional investors. Streamline, renowned for its eValuator™ Revenue Integrity Program, aims to tackle revenue leakage in healthcare. Management will also conduct one-on-one meetings during the event. For more information, visit Streamline Health's website.