Streamline Health Solutions, Inc. - STRM STOCK NEWS

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.

Streamline Health Solutions, Inc. (NASDAQ: STRM) reported second quarter fiscal 2021 revenues of $2.9 million, matching the prior year. SaaS revenue surged by 59% year-over-year, representing 84% of total revenue. The net loss narrowed to ($0.1 million) from ($1.1 million) in Q2 2020, aided by $2.3 million in loan forgiveness. Adjusted EBITDA loss grew to ($0.8 million) from ($0.4 million) the previous year. Total bookings were $1.6 million. The company continues to focus on enhancing sales and support amid challenges posed by the COVID Delta variant.

Streamline Health Solutions (NASDAQ: STRM) has announced a new contract with a Cerner EHR-based health system in Eastern North Carolina. The nearly 300-bed medical center will utilize the eValuator™ Revenue Integrity Program to enhance revenue integrity and financial performance across inpatient and outpatient services. This technology enables the identification of coding issues before billing, reducing revenue leakage and compliance risks. Streamline Health aims to lead the industry towards pre-bill technology for improved financial outcomes.