Streamline Health® Announces New eValuator™ Contract with Deaconess Health System
Rhea-AI Summary
Streamline Health Solutions (NASDAQ: STRM) has signed a new contract with Deaconess Health System, a 1,200-bed Indiana-based health system, for its eValuator solution. The technology will be used to optimize pre-bill coding accuracy and financial outcomes.
Deaconess selected eValuator for its unique capabilities in improving coding and billing workflows within the mid-revenue cycle. The AI-enhanced pre-bill code auditing solution helps healthcare providers accurately capture, bill, and receive payment for services while avoiding denials.
Deaconess Health System serves a population of more than 1.5 million across southwestern Indiana, western Kentucky, and southeastern Illinois, operating across 19 hospital locations throughout the Tri-State area.
Positive
- Secured new contract with major 1,200-bed health system
- Expansion into significant market serving 1.5 million population
- Partnership with 19-location hospital system enhances market presence
Negative
- None.
Insights
This deal marks a strategic win for Streamline Health in the competitive healthcare revenue cycle management space. The partnership with a 1,200-bed health system represents a significant client acquisition that could materially impact STRM's revenue stream, particularly given Deaconess's substantial market presence serving 1.5 million residents across three states.
eValuator's AI-powered pre-bill auditing technology addresses a critical pain point in healthcare finance - coding accuracy and revenue leakage. With an average hospital losing 1-3% of revenue due to coding errors, this implementation could potentially save Deaconess millions annually while providing STRM with recurring revenue. For a micro-cap company like STRM (
The selection by Deaconess, particularly noting eValuator's "unique capabilities," suggests STRM's technology maintains competitive advantages in the mid-revenue cycle optimization space. This could accelerate sales pipeline conversion with similar-sized health systems seeking proven solutions.
The strategic importance of this contract extends beyond immediate revenue implications. Deaconess's selection of eValuator for pre-bill coding accuracy optimization addresses a growing industry challenge where healthcare providers face increasing pressure to maximize appropriate reimbursement while ensuring compliance.
With 19 affiliated hospital locations in Deaconess's network, this implementation represents a substantial footprint for STRM's technology. The potential for expanded utilization across the health system's network could drive additional recurring revenue opportunities. More importantly, success with a system of this scale could serve as a powerful reference case for other major health systems evaluating pre-bill coding solutions.
The emphasis on automation and workflow improvement in the statement from Deaconess's Revenue Cycle Officer indicates this is likely a comprehensive implementation, not just a deployment. This suggests a deeper integration into Deaconess's revenue cycle operations, which typically translates to higher contract values and stronger client retention.
1,200 bed health system selects eValutor’s pre-bill code audit technology to improve coding accuracy
ATLANTA, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of solutions that enable healthcare providers to improve financial performance, announced that it has signed a new contract for the use of eValuator with Deaconess Health System, a 1,200 bed Indiana-based health system. Deaconess selected Streamline Health’s eValuator solution to optimize its pre-bill coding accuracy and financial outcomes.
“We were seeking automation to assist with improving coding and billing workflows as well as accuracy within the mid-revenue cycle. eValuator’s unique capabilities stood apart and best fit our organizational priorities” stated Rebecca Conen, VP/Chief Revenue Cycle Officer, Healthcare Resource Solutions, LLC.
Streamline Health is leading an industry movement to improve health system financial performance through pre-bill technology solutions. eValuator’s AI-enhanced pre-bill code auditing ensures that providers can accurately capture, bill and ultimately be paid for all the care they provide while avoiding denials.
“We are honored to partner with Deaconess Health System, a leader in delivering exceptional care to Indiana communities” stated Ben Stilwill, Chief Executive Officer. “Together, we aim to optimize their coding processes and accuracy so they can focus on what matters most—serving their patients with the highest quality care”.
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
About Deaconess Health System
Deaconess Health System is the premiere provider of health care services to a population of more than 1.5 million in southwestern Indiana, western Kentucky and southeastern Illinois. Serving a population of more than 1.5 million residents, the system consists of 19 wholly owned, joint ventured, sponsored or affiliated hospital locations situated throughout the Tri-State.
To Learn More
Jacob Goldberger
Vice President, Finance
303.887.9625
jacob.goldberger@streamlinehealth.net
Source: Streamline Health Solutions, Inc.
FAQ
What is the new contract Streamline Health (STRM) signed with Deaconess Health System?
How will eValuator benefit Deaconess Health System's operations?
What is the size of Deaconess Health System's service area for STRM's eValuator?
How does Streamline Health's eValuator technology work?
