Streamline Health® Announces New RevID™ Contract with 400-Bed Health System
Rhea-AI Summary
Streamline Health Solutions (NASDAQ: STRM) has announced a new contract with a 400-bed health system in Southern California, facilitated through a partnership with Oracle Health. The health system utilizes Oracle Cerner's EHR system and will now implement Streamline's RevID™ automated charge reconciliation software. This solution aims to enhance financial performance by ensuring accurate capture and billing for all provided care. Streamline Health's CEO, Ben Stilwill, expressed enthusiasm for expanding their client base through this partnership in fiscal 2024.
Positive
- New contract with a 400-bed health system in Southern California.
- Partnership with Oracle Health for the implementation.
- RevID™ software will enhance financial performance through automated charge reconciliation.
- Potential for accelerated cash flow due to improved billing accuracy.
- Streamline Health aims to expand its client footprint in fiscal 2024.
Negative
- No specific financial terms of the contract disclosed.
- Reliance on the successful implementation and adoption of RevID™ by the health system.
News Market Reaction
On the day this news was published, STRM gained 15.93%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Oracle Health partnership enables 400-bed, southern California health system to leverage RevID’s automated charge reconciliation for improved financial performance
Atlanta, May 29, 2024 (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 RevID, with a 400-bed, Oracle Cerner-EHR based health system with facilities in Southern California. The deal was closed in partnership with Oracle.
Streamline Health is leading an industry movement to improve hospital financial performance through pre-bill technology solutions. RevID’s automated charge reconciliation accelerates cash flow by ensuring that providers can accurately capture, bill and ultimately be paid for all the care they provide.
“We are thrilled to support another key health system through our Oracle Health partnership,” stated Ben Stilwill, President and Chief Executive Officer, Streamline. “We look forward to continued expansion of our client footprint through our direct and partnership channels in fiscal 2024.”
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
FAQ
What is the new contract announced by Streamline Health?
Who is Streamline Health partnering with for the new contract?
What technology will be used by the 400-bed health system in the new contract?
What is the purpose of implementing RevID™ in the health system?
How does RevID™ improve financial performance?
What are Streamline Health's future plans as mentioned in the PR?
