Streamline Health® Expands RevID™ Agreement with Large Provider Network, Achieves Booked SaaS ACV Goal

Rhea-AI Summary

Streamline Health Solutions (NASDAQ: STRM) has announced an expansion in its partnership with a major healthcare system managing over 80 facilities across the U.S. This expansion includes increased utilization of the RevID automated charge reconciliation solution, aimed at improving financial performance. Additionally, the company has surpassed its target, achieving over $17 million in booked SaaS ACV by the end of fiscal 2022. The president of Streamline Health, Ben Stilwill, expressed optimism for continued growth due to their commitment to ensuring healthcare providers are compensated for their services.

Positive

• Expanded partnership with a major healthcare provider managing 80+ facilities.
• Exceeded $17 million in booked SaaS ACV, surpassing fiscal 2022 goals.
• RevID's charge reconciliation is leading to improved financial performance for healthcare providers.

Negative

• None.

National Health System Expands Utilization of RevID’s Automated Charge Reconciliation for Improved Financial Performance; Company Exceeds $17M of Booked SaaS ACV 

Atlanta, GA, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of solutions that enable healthcare providers to improve financial performance, announced today an expansion of its existing relationship with a prominent healthcare system that manages 80+ facilities throughout the United States. The health system has further expanded its use of RevID. The Company also announced that it has now exceeded its previously stated goal of $17 million of booked SaaS ACV by the end of its fiscal 2022.

Streamline Health is leading an industry movement to improve hospital financial performance through pre-bill technology solutions. RevID’s automated charge reconciliation ensures that providers can accurately capture, bill and ultimately be paid for all the care they provide.

“We are pleased that this key healthcare provider continues to expand utilization of our novel RevID solution and thrilled that our sales team was able to execute on its SaaS bookings goals thus far in fiscal 2022” stated Ben Stilwill, President, Streamline Health. “We look forward to continued growth as a result of our mission to ensure that our nation’s healthcare providers are paid for the care they provide.”

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

Media
David Kosloski
Vice President, Marketing & Communications
651.308.1395
david.kosloski@streamlinehealth.net

Investors
Jacob Goldberger
Director, Investor Relations and FP&A
303.887.9625
jacob.goldberger@streamlinehealth.net

FAQ

What is the recent announcement from Streamline Health Solutions regarding RevID?

Streamline Health Solutions announced an expansion of its partnership with a major healthcare system to increase the utilization of RevID's automated charge reconciliation.

How much SaaS ACV did Streamline Health achieve?

Streamline Health Solutions surpassed $17 million in booked SaaS annual contract value (ACV) by the end of fiscal 2022.

What technology does Streamline Health use to improve hospital financial performance?

Streamline Health uses RevID's automated charge reconciliation technology to help healthcare providers accurately capture and bill for services.

What is the significance of the $17 million in booked SaaS ACV for STRM?

Exceeding the $17 million target indicates strong sales performance and growth potential for Streamline Health Solutions.