ATLANTA - Streamline Health Solutions, Inc. (NASDAQ: STRM), a provider of healthcare financial performance solutions, announced an expansion of its partnership with a 700-bed health system operating five facilities. The health system, which utilizes Oracle (NYSE:ORCL) EHR, has incorporated eValuator™, Streamline Health's code auditing technology, to enhance pre-bill revenue integrity. This move comes after over two years of the health system using Streamline's RevID™ for automated charge reconciliation.
Streamline Health is at the forefront of a shift towards optimizing hospital financial operations through technology that operates before billing. The integration of eValuator™ aims to ensure accurate billing and reduce denials by using AI to enhance pre-bill code auditing. The combination of eValuator™ and RevID™ is expected to capture and accurately bill for all care provided, which is essential for the financial health of healthcare providers.
Ben Stilwill, President and CEO of Streamline, expressed excitement about assisting the client in expanding their team's capabilities, emphasizing the importance of accurate compensation for healthcare services. The partnership is projected to yield a synergistic effect on the health system's revenue cycle, leveraging both technologies to bolster financial outcomes.
Streamline Health Solutions provides various integrated solutions, technology-enabled services, and analytics designed to address revenue leakage and enhance financial performance across healthcare organizations.
The information about the expanded partnership and technology adoption is based on a press release statement from Streamline Health Solutions.
InvestingPro Insights
As Streamline Health Solutions, Inc. (NASDAQ: STRM) continues to innovate in the healthcare financial performance space, investors and stakeholders are closely monitoring the company's financial metrics and market performance. The recent announcement of their expanded partnership could be a strategic move in addressing their financial challenges and leveraging growth opportunities.
InvestingPro data shows the company with a market capitalization of $19.33 million, reflecting its current valuation in the market. Despite the potential for growth through partnerships and technology like eValuator™, the company's financials indicate that it is not currently profitable, with a negative P/E ratio of -1.01. The adjusted P/E ratio for the last twelve months as of Q3 2024 stands at -1.66, which suggests that the market does not expect earnings to turn positive in the near future.
Moreover, the company's stock has experienced significant volatility, with a one-month price total return as of the 116th day of 2024 at -30.75%. This could be indicative of investor concerns or market reactions to the company's financial performance and outlook. Additionally, an InvestingPro Tip highlights that Streamline Health is quickly burning through cash, which could be a point of caution for investors considering the company's ability to sustain operations and invest in growth initiatives.
For those interested in a deeper analysis of Streamline Health Solutions, there are additional InvestingPro Tips available that could provide further insights into the company's financial health and operational strategies. For instance, one tip points out that the company's short-term obligations exceed its liquid assets, which could pose risks to its financial stability. Another tip notes that analysts do not anticipate the company will be profitable this year, which aligns with the negative P/E ratio data.
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