Streamline Health® Announces Fourth CommunityWorks RevID Contract With Kentucky-Based Health System

Rhea-AI Summary

Streamline Health Solutions (NASDAQ: STRM) has secured a new contract for its RevID solution with a 120-bed health system in Kentucky, marking its fourth CommunityWorks Oracle EHR client. The agreement, established through partnership with Oracle Health, demonstrates growing adoption of STRM's pre-bill technology solution.

RevID's automated charge reconciliation system integrates with Oracle Health's CommunityWorks EHR to help hospitals capture 100% of earned revenue by eliminating charge capture gaps and accelerating cash flow. The solution aims to enhance financial operations by automating and optimizing charge reconciliation processes for improved accuracy and efficiency.

Positive

• Secured new contract with 120-bed Kentucky health system
• Fourth CommunityWorks Oracle EHR client, showing growing market adoption
• Strategic partnership with Oracle Health expanding market reach

Negative

• None.

Insights

Market Research Analyst

The signing of Streamline Health's fourth CommunityWorks RevID contract marks a strategic expansion in the healthcare revenue cycle management (RCM) market. This development carries several key implications:

The partnership with Oracle Health is particularly noteworthy as it provides STRM with a valuable distribution channel into the growing community hospital market segment. Oracle's CommunityWorks EHR platform specifically targets smaller healthcare facilities, representing a substantial addressable market of approximately 2,000 community hospitals in the United States.

RevID's automated charge reconciliation technology addresses a critical pain point in healthcare financial operations. Healthcare providers typically lose 1-3% of potential revenue due to charge capture leakage, making solutions that can eliminate these gaps increasingly essential. For a 120-bed hospital, this could translate to meaningful revenue recovery.

The growing adoption of STRM's pre-bill technology solutions, particularly in the community hospital segment, suggests the company's product-market fit is strengthening. This fourth CommunityWorks client acquisition demonstrates accelerating market penetration and validates the company's strategy of partnering with major EHR providers.

However, investors should note that revenue impact will likely be gradual, as implementation cycles for healthcare technology typically span several months and revenue recognition often follows a subscription-based model. The contract's specific financial terms were not disclosed, making it difficult to quantify the immediate revenue impact.

This expansion in Kentucky also indicates STRM's growing geographical footprint, particularly in rural and community healthcare markets where revenue optimization is increasingly critical for financial sustainability.

Oracle Health partnership enables 120-bed Kentucky-based health system to leverage RevID’s automated charge reconciliation to improve financial performance

ATLANTA, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of solutions that enable healthcare providers to improve financial performance, announced that it has signed a new contract for the use of RevID with a 120-bed, Oracle Health-EHR based health system with facilities in Kentucky. Closed in partnership with Oracle Health, this agreement marks Streamline Health’s fourth CommunityWorks Oracle EHR client—an important milestone underscoring the growing adoption of its pre-bill technology solution.

Streamline Health is leading an industry movement to improve hospital financial performance through pre-bill technology solutions. RevID’s automated charge reconciliation enables hospitals to capture 100% of earned revenue by eliminating charge capture gaps and accelerates cash flow by ensuring that providers can accurately capture, bill and ultimately be paid for all the care they provide. Enabled by seamless integration with Oracle Health’s CommunityWorks EHR, RevID positions health systems to enhance financial operations by automating and optimizing charge reconciliation processes for greater accuracy and efficiency.

“We are pleased to expand RevID’s footprint and serve communities in Kentucky,” stated Ben Stilwill, Chief Executive Officer. “Our growing partnership with Oracle Health strengthens our ability to deliver pre-bill solutions that seamlessly integrate with leading EHR platforms.”

About Streamline Health

Streamline Health Solutions, Inc. (Nasdaq: STRM) enables healthcare organizations to proactively address revenue leakage and improve financial performance. We deliver integrated solutions, technology-enabled services and analytics that drive compliant revenue leading to improved financial performance across the enterprise. For more information, visit www.streamlinehealth.net

To Learn More

Jacob Goldberger

Vice President, Finance

303.887.9625

jacob.goldberger@streamlinehealth.net

Source: Streamline Health Solutions, Inc.

FAQ

What is the significance of Streamline Health's fourth CommunityWorks RevID contract for STRM stock?

The fourth CommunityWorks contract demonstrates growing market adoption of STRM's RevID solution and strengthens their partnership with Oracle Health, potentially leading to increased revenue and market share.

How does RevID's automated charge reconciliation benefit STRM's healthcare clients?

RevID enables hospitals to capture 100% of earned revenue by eliminating charge capture gaps and accelerating cash flow through automated and optimized charge reconciliation processes.

What is the scope of STRM's latest RevID contract in Kentucky?

The contract is with a 120-bed health system in Kentucky that uses Oracle Health's EHR system, expanding STRM's presence in the region.

How does STRM's partnership with Oracle Health impact its market position?

The partnership enables seamless integration with Oracle Health's CommunityWorks EHR, strengthening STRM's ability to deliver pre-bill solutions to healthcare organizations using Oracle's platform.