Welcome to our dedicated page for Performant Finl news (Ticker: PFMT), a resource for investors and traders seeking the latest updates and insights on Performant Finl stock.
PFMT is the historical ticker symbol associated with Performant Financial Corporation, later known as Performant Healthcare, Inc., a company that focused on healthcare payment integrity, eligibility, and analytics services. News linked to this symbol covers the company’s strategic shift into healthcare, its government and commercial contracts, financial performance while public, the change of its name and ticker, and its eventual acquisition.
Coverage includes announcements describing Performant as a provider that helps healthcare payers identify, prevent, and recover waste and improper payments using advanced technology, analytics, and proprietary data assets. Press releases have highlighted its work with national and regional payers, its roles in Medicare and Medicaid programs, and awards such as CMS Recovery Audit Contractor (RAC) contracts and a New York State Medicaid RAC award. Financial news under PFMT has included quarterly earnings results, revenue mix between healthcare and customer care services, and commentary on efficiency initiatives and growth in healthcare revenues.
Later news items document the company’s corporate evolution, including its decision to change its name to Performant Healthcare, Inc., the planned ticker change from PFMT to PHLT, and the rationale of becoming a pure-play healthcare payment integrity company. Subsequent coverage reports on Machinify’s acquisition of Performant Healthcare, Inc., noting stockholder approval, the transaction value, and the delisting of the company’s shares from Nasdaq as it became privately held.
Investors and researchers using this news page can review historical press releases, conference participation announcements, contract awards, and transaction updates tied to PFMT. This archive helps explain how the business evolved from a broader financial recovery background into a healthcare-focused payment integrity specialist and ultimately into part of Machinify’s healthcare intelligence platform.
Performant Financial Corporation (Nasdaq: PFMT) reported its third quarter results for 2020, showing total revenues of $36.2 million, a slight increase from $35.9 million year-over-year. Net income rose to $2.0 million, or $0.04 per diluted share, improving from a net loss of $8.1 million in the same quarter last year. Adjusted net income was $3.2 million ($0.06 per diluted share) compared to a loss of $7.3 million previously. Healthcare revenues surged by 63% to $17.6 million, while recovery revenues dropped 26% to $15.4 million.
Performant Financial Corporation (Nasdaq:PFMT) will announce its third quarter 2020 results on November 10, 2020, post-market. A conference call will follow at 5:00 PM ET to discuss the outcomes. Interested parties can join via a domestic dial-in number of 877-705-6003 or 201-493-6725 for international attendees. A replay will be available for a week after the call. The company delivers technology-enabled recovery solutions, addressing financial waste and improper payments across multiple sectors, including healthcare and government.
Performant Financial Corporation (Nasdaq:PFMT) has secured contracts covering over four million lives for its new Premium Accuracy service, aimed at improving Medicare Advantage Plans by addressing inaccuracies in primary health coverage data. This service allows MA Plans to restore up to 80% of premium payments that could be lost due to incorrect records. The company identified over $2M in premium recoveries within two months of launching this initiative, highlighting its potential to enhance revenue for MA providers while improving operational efficiency.
Performant Financial Corporation (Nasdaq:PFMT) announced that it has regained compliance with Nasdaq's minimum bid price requirement as of October 16, 2020. This notification signifies the closure of the matter with Nasdaq, ensuring the company meets regulatory standards. Performant Financial specializes in technology-enabled recovery and analytics services focusing on delinquent assets and improper payments across various sectors including government and healthcare. This development is crucial for maintaining its listing status on the Nasdaq exchange.
Performant Financial Corporation (Nasdaq: PFMT) announced its participation in the Lytham Partners Virtual Investor Growth Conference on October 6, 2020, at 4:00 PM ET. CEO Lisa Im and other executives will discuss the company's strategic growth, emphasizing a remarkable 76% year-over-year growth in Healthcare market revenues for the first half of FY2020, following a 66% increase in the previous year. A webcast of the presentation will be available on their investor relations website, along with opportunities for virtual one-on-one meetings with management.
Performant Financial (NASDAQ:PFMT) will present at the LD 500 investor conference on September 1, 2020, at 1:20PM PST. CEO Lisa Im will showcase the company's strategic growth after a remarkable 76% YoY growth in healthcare revenues in the first half of FY2020. This follows a 66% YoY growth from the previous year. The conference aims to provide an interactive platform amid challenges posed by COVID-19. Performant, a leader in technology-enabled recovery services, has been enhancing revenue and controlling costs across key sectors.