Streamline Health® Announces New eValuator™ Contract With Texas-Based Health System

Rhea-AI Summary

Streamline Health Solutions (NASDAQ: STRM) has secured a new contract for its eValuator solution with a 900-bed health system in northern Texas. The healthcare facility, which uses Altera EHR, becomes the fourth Texas health system to adopt eValuator's pre-bill code audit technology. The AI-enhanced solution helps healthcare providers improve financial performance by ensuring accurate medical coding, billing, and payment capture while preventing denials.

Positive

• Expansion of client base with fourth Texas health system contract
• Strategic growth in important healthcare market
• Contract with large-scale 900-bed facility indicates product appeal to major healthcare providers

Negative

• None.

Insights

Market Research Analyst

This contract win with a 900-bed Texas health system represents modest positive momentum for Streamline Health, though the financial terms remain undisclosed. The deal expands their presence in Texas to four health systems, indicating growing market penetration in a key healthcare region. eValuator's AI-powered pre-bill auditing technology addresses a critical need in healthcare revenue cycle management by helping prevent claim denials and capture accurate reimbursement.

Given STRM's micro-cap status ($9.37M market cap) and the typical revenue profile of such contracts, this win could be material to their financial results. However, the lack of contract value disclosure and implementation timeline details limits the ability to quantify the near-term revenue impact. The company's focus on preventing revenue leakage through pre-bill technology aligns with healthcare providers' increasing emphasis on financial optimization.

900-bed Texas-based health system selected eValuator’s pre-bill code audit technology to improve coding accuracy

ATLANTA, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of solutions that enable healthcare providers to improve financial performance, announced that is has signed a new contract for the use of eValuator with a 900-bed, Altera EHR-based health system serving northern Texas. This marks the fourth Texas health system to adopt eValuator, reinforcing Streamline Health’s growing presence in the region.

Streamline Health is leading an industry movement to improve hospital financial performance through pre-bill technology solutions. eValuator’s AI-enhance pre-bill code auditing ensures that providers can accurately capture, bill and ultimately be paid for all the care they provide while avoiding denials.

“Texas plays a pivotal role in our nation’s healthcare landscape and we are proud to expand our footprint there,” stated Ben Stilwill, Chief Executive Officer. “Our team is excited to help another of our nation’s health systems ensure they are accurately paid for the care they’ve provided.”

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

Source: Streamline Health Solutions, Inc.

FAQ

What is the new contract Streamline Health (STRM) announced in November 2024?

Streamline Health announced a contract with a 900-bed health system in northern Texas for its eValuator pre-bill code audit technology solution.

How many Texas health systems now use Streamline Health's (STRM) eValuator solution?

This is the fourth Texas health system to adopt Streamline Health's eValuator solution.

What does Streamline Health's (STRM) eValuator technology do?

eValuator is an AI-enhanced pre-bill code auditing solution that helps healthcare providers ensure accurate coding, billing, and payment capture while preventing denials.