Streamline Health Solutions In Stock Price, News & Analysis

Streamline Health Solutions (Nasdaq: STRM) reported fourth quarter revenues of $6.0 million, a 100% increase year-over-year, with SaaS revenue growth of 155%. For the full fiscal year 2021, revenues reached $17.4 million, up 54% from $11.3 million in 2020. The net loss for Q4 was ($30,000), improving from ($1.2 million) in Q4 2020. Adjusted EBITDA was ($0.3 million). Pro forma revenue for FY 2021 was approximately $22.6 million, with SaaS contributing $11.3 million, an 82% increase. Management anticipates continued growth following operational impacts from the pandemic.

Streamline Health Solutions (Nasdaq: STRM) will release its financial results for the three and twelve month periods ended January 31, 2022 on April 27, 2022, after market close. A conference call to review these results and provide updates will be held on April 28, 2022, at 9:00 AM ET. Interested participants can access the call via a live webcast or by phone. A replay of the call will be available until May 5, 2022, and an online recording will be accessible for six months on Streamline's website. The company focuses on helping healthcare organizations improve financial performance.

Streamline Health (Nasdaq: STRM) announced a major expansion of its partnership with a prominent U.S. healthcare system managing over 80 facilities. The health system will increase its usage of Avelead's RevID software, aimed at eliminating revenue leakage. The RevID solution has already helped identify $75 million in missing revenue in just one quarter. This expansion illustrates the growing traction of Avelead's efforts to enhance financial performance for healthcare providers.

Streamline Health Solutions (Nasdaq: STRM) announced preliminary fourth-quarter bookings of $7.59 million and fiscal year 2021 revenue between $16.8 million to $17.4 million, marking a 49% to 54% increase from the previous year. SaaS revenue is projected at $7.5 million to $8.1 million, representing a remarkable 103% to 119% growth. The acquisition of Avelead Consulting began contributing to financial results from August 2021. Management expresses optimism for growth amid industry challenges.

Streamline Health Solutions (NASDAQ: STRM) has secured a contract with a seven-hospital health system in Pennsylvania to implement its eValuator automated coding analysis technology. This initiative aims to enhance revenue integrity and financial performance in inpatient and outpatient services. By identifying coding issues pre-billing, the solution seeks to reduce revenue leakage and denied claims. Streamline Health focuses on improving financial performance through compliant revenue capture, emphasizing a transition to new payment models.

Streamline Health Solutions (NASDAQ: STRM) has announced leadership changes to strengthen its eValuator Solutions division. Ben Stilwill, formerly Senior Vice President of Customer Success, has been promoted to President & CEO, while Amy Sebero has joined as Chief Growth Officer. Sebero brings 40 years of healthcare software sales expertise, including experience managing over 900 health systems. The company aims to enhance its technology adoption and improve financial performance for healthcare providers.

Avelead, a Streamline Health Company (NASDAQ: STRM), has expanded its leadership team with the appointment of Sean Sykes as Chief Technology Officer and Michael Yzerman as Senior Vice President of Services. These roles aim to enhance the Avelead Platform and improve service delivery for healthcare organizations. Sykes brings over 30 years of technology experience, while Yzerman has over 20 years in healthcare IT. This leadership expansion is expected to drive growth and optimize revenue integrity solutions for hospitals, aligning with Avelead's mission to eliminate lost revenue.

Streamline Health Solutions (NASDAQ: STRM) has signed a contract with a nearly 700-bed medical center in Eastern North Carolina to implement its eValuator™ Revenue Integrity Program. This automated coding analysis technology aims to enhance revenue performance for both inpatient and outpatient services. By addressing coding issues before billing, the medical center seeks to minimize revenue leakage, denied claims, and compliance risks. The partnership reflects Streamline's commitment to improving financial resources for healthcare providers through accurate coding and documentation.

Streamline Health Solutions (Nasdaq: STRM) reported third-quarter fiscal 2021 revenues of $5.5 million, a 109% increase year-over-year. The significant revenue growth stemmed from the acquisition of Avelead, recognized for enhancing revenue integrity in healthcare. SaaS revenue soared 214% compared to the prior year, totaling $1.9 million. However, the company faced a net loss of $(4.3 million), largely from non-routine costs linked to the acquisition. Adjusted EBITDA was a loss of $(0.3 million), reflecting ongoing operational challenges.