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NRC Health reports developments in healthcare experience improvement solutions for hospitals and health systems. Its updates cover products and services such as Patient Experience, Market Insights, Reputation, Leader Rounding, and The Governance Institute, a service that provides governance research, education, assessments, conferences, and advisory resources for not-for-profit hospital and health system boards.
Company news commonly includes quarterly operating results, Total Recurring Contract Value disclosures tied to renewable contracts, cash flow and adjusted performance measures, health system partnership expansions, online reputation and consumer insight initiatives, industry recognition, governance publications, and capital allocation actions such as share repurchase authorizations.
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National Research Corporation (NASDAQ:NRC) announced an online web simulcast of its 2023 first quarter earnings conference call, scheduled for May 3, 2023, at 11:00 a.m. Eastern Time. The earnings results will be released after market close on May 2, 2023. The live audio webcast can be accessed via a designated link, and a 30-day replay will also be available. NRC Health has over 40 years of experience in enhancing healthcare by understanding individual patient needs, shaping healthcare systems with a patient-focused approach and market research that emphasizes consumer preferences.
NRC Health released its 2023 Pediatric Experience Perspective report, emphasizing the importance of understanding individual patient needs in pediatric healthcare. The report, unveiled at the NRC Health Pediatric Collaborative, incorporates insights from 300,000 consumers and over 300 healthcare leaders across 98 hospitals. Key findings indicate that nearly 55% of parents believe pediatric hospitals should offer superior care compared to other hospitals. Additionally, there is a marked increase in outpatient behavioral health volumes since 2020, and the demand for post-discharge follow-up has risen significantly. The report highlights parents' preference for retail clinics when faced with long wait times. NRC Health is recognized as the top organization for improving patient experience, according to the 2023 Best in KLAS report.
NRC Health has introduced a new digital solution called Compliment Sharing aimed at alleviating burnout and enhancing morale among frontline healthcare teams. This tool leverages Natural Language Processing (NLP) to efficiently gather positive patient feedback and deliver it to healthcare staff in real-time. Helen Hrdy, NRC Health's Chief Growth Officer, emphasizes the importance of recognizing the efforts of healthcare workers. The system is designed for ease of use, allowing staff to send positive comments quickly, thereby fostering a culture of appreciation within healthcare systems. Most NRC Health partners can incorporate Compliment Sharing into their existing services.
NRC Health is enhancing healthcare delivery with its new tool MyView, which integrates patient insights into electronic health records (EHR) to streamline care teams' workflows. This innovation allows healthcare providers to obtain essential patient information quickly, taking only 15 seconds to review. MyView aims to foster personalized care experiences and improve communication between providers and patients. Paired with MyStory, which captures patient-generated data, it provides a comprehensive view of patient needs. NRC Health is recognized as a leader in patient experience improvement, recently ranked #1 in the 2023 Best in KLAS report.
NRC Health released its 2023 Experience Perspective, highlighting insights from over 300 healthcare leaders and 300,000 consumer surveys. The report emphasizes the importance of Human Understanding in improving patient experience and loyalty. Key findings include that only 38% of patients felt uniquely treated, despite this being crucial for Net Promoter Score. The report identifies fundamental strategies for enhancing healthcare experiences and underscores the significance of patient perspectives on quality. It also addresses the need for equity in care and outlines trends for healthcare leaders to consider in order to strengthen organizational performance.
National Research Corporation (NRC) reported 7% year-over-year revenue growth for 2022, driven by its Human Understanding Program. The company added notable clients like St. Bernards Healthcare and received the Best in KLAS 2023 Award for Patient Experience Improvement. However, revenue growth was partially offset by the phase-out of Canadian operations. For 2022, NRC allocated $12.2 million for innovation, $21.0 million for dividends, and $27.6 million for share repurchases. Diluted earnings per share fell to $1.27 for the year from $1.46 in 2021, highlighting financial challenges amidst strategic investments.
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National Research Corporation (NASDAQ:NRC) has announced a quarterly cash dividend of $0.12 per share, payable on April 14, 2023. Shareholders of record as of March 31, 2023 will be eligible for this payment. With over 40 years in the healthcare sector, NRC Health focuses on enhancing customer experiences in healthcare organizations. Their approach emphasizes empathy, proprietary methods, and skilled associates to elevate patient and staff satisfaction while fostering loyalty.