Streamline Health expands contract with Florida medical center

ATLANTA – Streamline Health Solutions, Inc. (Nasdaq: STRM), a provider of healthcare financial performance solutions, has expanded its contract with a Central Florida academic medical center to include additional facilities. The expansion follows the initial adoption of Streamline's eValuator, an AI-enhanced pre-billing code review system that the healthcare provider implemented across its 1,250-bed Epic network.

The medical center recently completed its implementation of eValuator and decided to expand use of the platform to other facilities it has purchased. The decision was made after observing a significant return on investment shortly after the system went live. Streamline President and CEO Ben Stilwill said the rapid expansion of customers is driven in part by new rules generated by artificial intelligence that have proven to be effective.

Streamline Health is at the forefront of industry trends focused on improving hospital financial performance through pre-billing technology solutions. The eValuator system is designed to ensure that healthcare services provided are accurately captured and billed, thereby reducing denials and ensuring appropriate payment for the care provided.

The company emphasizes that eValuator's artificial intelligence capabilities are designed to support healthcare providers' billing processes, ensure compliance and improve revenue integrity. Streamline Health provides an integrated suite of solutions and services and analytics to address revenue leakage and enhance financial outcomes for healthcare organizations.

This expansion demonstrates the trust healthcare providers have in Streamline Health's technology and team as they work to maintain a unified platform across their growing system. Financial details of the contract expansion were not disclosed.

3rd party advertising. Not an offer or recommendation by disclosures here or
Remove ads

The information in this article is based on a press release from Streamline Health Solutions, Inc.

Investment Professional Insights

As Streamline Health Solutions, Inc. (NASDAQ: STRM) continues to expand its presence in healthcare facilities using the eValuator system, investors and stakeholders are paying close attention to the company's financial health. According to the latest data from InvestingPro, Streamline Health Solutions has a market capitalization of approximately $18.25 million.

Despite the company's strategic moves in healthcare technology, the data shows some challenges. The price-to-earnings ratio was -0.91, reflecting investor doubts about future profits, and this has revised to -1.57 in the trailing 12 months to the third quarter of 2024, indicating continued concerns about profitability.

Moreover, the company’s stock has been underperforming, with a 1-month total price return of -33.12% and a 1-year total price return of -81.76%. This likely reflects broader market sentiment as well as the specific financial challenges facing Streamline Health Solutions.

InvestingPro Tips notes that the company is burning through cash rapidly and has short-term debt exceeding liquid assets. Analysts don't expect the company to make a profit this year, which is consistent with a negative price-to-earnings ratio.

While the expansion of the eValuator system shows customer confidence in Streamline Health's products, the company's financial metrics suggest a cautious approach may be warranted. The InvestingPro platform provides additional insights that may be valuable to those looking to make informed decisions about Streamline Health Solutions.

Use coupon code PRONEWS24, users can enjoy an additional 10% discount on annual or biennial Pro and Pro+ subscriptions at InvestingPro to get more comprehensive analysis and tips. Currently, Streamline Health has 6 additional InvestingPro Tips that can help you gain a deeper understanding of the company's prospects.

3rd party advertising. Not an offer or recommendation by disclosures here or
Remove ads

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *