Streamline Health Solutions In Stock Price, News & Analysis

Streamline Health Solutions (NASDAQ: STRM) announced the U.S. Small Business Administration approved the forgiveness of its $2,300,600 Paycheck Protection Program (PPP) loan. This financial support, part of the CARES Act in response to the COVID-19 pandemic, allowed the company to maintain its staff and continue supporting hospital-system customers during the crisis. Streamline Health provides the eValuator™ Revenue Integrity Program, aimed at addressing revenue leakage and compliance in healthcare.

Streamline Health Solutions (NASDAQ: STRM) reported first-quarter 2021 revenues of $3.0 million, a growth from $2.8 million year-over-year. SaaS revenue rose by 32%, contributing to overall revenue growth. However, the company experienced a net loss of $2.1 million, contrasting with a net income of $3.7 million in the same quarter last year. The loss from continuing operations was $2.5 million compared to $1.0 million in 2020, and adjusted EBITDA stood at a loss of $0.7 million, similar to the previous year's loss. Despite challenges, the company anticipates growth as healthcare rebounds from the pandemic.

Streamline Health Solutions (NASDAQ: STRM) will release its financial results for the quarter ending April 30, 2021, on June 8, 2021, after market close. A conference call to discuss these results is set for June 9, 2021, at 9:00 AM ET, accessible via a live webcast or by phone. Call replay will be available until June 16, 2021, and an online version will be accessible for six months. Streamline Health specializes in revenue cycle optimization, aiding healthcare providers in enhancing revenue integrity.

Streamline Health Solutions, Inc. (NASDAQ: STRM) announced participation in the 18th annual Craig-Hallum Institutional Investor Conference on June 2, 2021. The event is virtual and by invitation only, featuring one-on-one meetings hosted by management. Attendees can access the investor presentation on the company's investor relations website. Streamline Health provides the eValuator™ Revenue Integrity Program, assisting healthcare providers in managing revenue integrity and compliance.

Streamline Health Solutions (NASDAQ: STRM) reported fiscal 2020 revenues of $11.3 million, a decrease from $11.9 million in 2019. The fourth quarter revenue rose to $3.0 million, up 11.1% from $2.7 million in the previous year, largely driven by a 50% increase in SaaS revenue. The company achieved a net income of $0.3 million for FY 2020, compared to a loss of $2.9 million in 2019, bolstered by $5.1 million from discontinued operations. Adjusted EBITDA losses narrowed to ($1.9 million) from ($2.3 million) the prior year.

Streamline Health Solutions, Inc. (NASDAQ: STRM) will release its financial results for the three and twelve months ended January 31, 2021 on April 21, 2021, after the market closes. A conference call to discuss the results is scheduled for April 22, 2021, at 9:00 AM ET. Interested parties can access this call through a live webcast or by phone. The company is a leader in pre-bill revenue integrity solutions for healthcare providers, utilizing its eValuator™ program to enhance revenue compliance and financial performance.

Streamline Health Solutions (NASDAQ: STRM) has signed a contract with a 287-bed Meditech EMR-based health system in Northern Ohio to implement its eValuator™ Revenue Integrity Program. This cloud-based technology aims to enhance revenue integrity and compliance for inpatient and outpatient services. By preemptively addressing coding issues, the eValuator program helps prevent revenue leakage and denied claims. Streamline Health is focused on enabling healthcare providers to adopt pre-bill technology for better financial performance.

Streamline Health Solutions (NASDAQ: STRM) has secured a contract with a 1,300-bed health system in Arizona, utilizing its eValuator™ Revenue Integrity Program for enhanced revenue integrity in inpatient and outpatient services. The eValuator technology aims to identify and resolve coding issues pre- and post-billing, minimizing revenue leakage and compliance risks. This partnership reinforces the company's role in assisting providers as they shift to new payment models, supporting improved financial performance.

Streamline Health Solutions, Inc. (NASDAQ: STRM) has expanded its credit facility with Bridge Bank, transitioning to a ‘recurring revenue line of credit’ with a total capacity of $3 million. This new facility, with a two-year term, allows borrowing based on three months of trailing recurring revenue. The facility aims to boost growth and enhance the eValuator™ Revenue Integrity Program that helps healthcare providers address coding issues and improve financial performance before billing. Management sees this as a step towards advancing their capital structure.