Streamline Health® Announces New eValuator™ Contract with 750-Bed Academic Medical Center
Streamline Health Solutions (NASDAQ: STRM) announced a new contract for its eValuator solution with a 750-bed academic medical center in Texas. The eValuator uses AI-enhanced pre-bill code auditing to improve revenue integrity by ensuring accurate billing and avoiding denials. This partnership was enabled by eValuator's TX-RAMP certification, allowing Streamline to engage with all Texas state-funded health systems. CEO Ben Stilwill expressed excitement about expanding their client base and enhancing financial performance for more health systems.
- New contract with a 750-bed academic medical center in Texas.
- eValuator’s TX-RAMP certification enables business with all Texas state-funded health systems.
- None.
Insights
The announcement of Streamline Health signing a new contract with a 750-bed academic medical center significantly enhances the company’s revenue prospects. The adoption of eValuator by a large Texas-based institution indicates a solid validation of the product's value proposition. From a financial perspective, the certification under TX-RAMP is a strategic advantage, allowing the company to tap into a broader market within Texas state-funded health systems. This move is likely to increase the customer base and drive revenue growth.
In the short term, investors might see a positive market reaction due to the potential revenue influx from the new contract. Long-term, Streamline Health's ability to secure such contracts could lead to increased market share and recurring revenue streams. However, investors should monitor the scalability and customer retention metrics, as these will be critical to sustaining growth.
The implementation of eValuator, an AI-enhanced pre-bill code auditing tool, marks a noteworthy advancement in the healthcare IT landscape. The tool's ability to preemptively address revenue integrity issues implies that hospitals can reduce claim denials and improve their billing accuracy. This is especially critical for large medical centers where revenue leakage can significantly impact financial health.
The TX-RAMP certification further underscores the product’s compliance and security standards, which are paramount in the healthcare sector. This certification not only facilitates business with Texas state-funded systems but also enhances the credibility of eValuator in the broader market.
For investors, understanding these technological advantages provides insight into the product's competitive edge and long-term adoption potential.
Texas-based academic medical Center selects eValuator to enhance revenue integrity
ATLANTA, July 02, 2024 (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 eValuator with a 750-bed, Epic-EHR based medical center in Texas. During the pursuit of this relationship eValuator was TX-RAMP certified, enabling Streamline to pursue business with all Texas state funded health systems.
Streamline Health is leading an industry movement to improve hospital financial performance through pre-bill technology solutions. eValuator’s AI-enhanced pre-bill code auditing ensures that providers can accurately capture, bill and ultimately be paid for all the care they provide while avoiding denials.
“We are pleased to expand our client footprint with another world-class health system,” stated Ben Stilwill, President and Chief Executive Officer, Streamline. “We are excited to continue growing and aiding more of our nation’s health systems ensure they are accurately paid for the care they’ve provided.”
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
FAQ
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