Streamline Health Solutions announces a contract with a Texas health system for RevID, enhancing charge reconciliation and financial performance.
Quiver AI Summary
Streamline Health Solutions, Inc. announced a new partnership with a 400-bed health system in Western Texas to implement its RevID technology, aimed at enhancing hospital financial performance through automated charge reconciliation. This contract, facilitated with Oracle Health, allows hospitals to improve revenue capture and accelerate cash flow by eliminating charge capture gaps, ensuring complete billing for services provided. The system’s integration with Oracle Health’s Soarian billing platform enhances efficiency and accuracy in financial operations. CEO Ben Stilwill highlighted Texas as an ideal market for growth due to its innovative healthcare providers and expressed optimism about expanding their solutions further in the region.
Potential Positives
- Streamline Health Solutions has secured a significant contract with a 400-bed health system, highlighting its growing market presence and ability to attract large healthcare clients.
- The partnership with Oracle Health reinforces Streamline Health's strategic alliances and enhances its technological capabilities, particularly with the integration of RevID into established EHR systems.
- The implementation of RevID is poised to help hospitals capture 100% of earned revenue and improve cash flow, directly addressing critical financial performance challenges within the healthcare sector.
- The CEO's comments indicate a positive outlook for expansion opportunities in Texas, suggesting potential future growth for the company within a key healthcare market.
Potential Negatives
- Signing a new contract may indicate a reliance on external partners like Oracle Health, potentially exposing Streamline Health to risks associated with partnership dependency.
- While the press release highlights the benefits of the new contract, it does not provide specific details about financial projections or expected impacts, which may raise concerns about clarity and transparency regarding expected outcomes.
- The focus on a specific geographical area (Western Texas) may limit perceived market potential, suggesting that growth is not as expansive as previously implied.
FAQ
What is Streamline Health Solutions, Inc. known for?
Streamline Health Solutions is a leading provider of solutions that enhance healthcare financial performance and address revenue leakage.
What contract has Streamline Health recently signed?
Streamline Health signed a contract for the use of RevID with a 400-bed health system in Western Texas.
How does RevID improve hospital financial performance?
RevID enhances financial performance by automating charge reconciliation, capturing 100% of earned revenue, and accelerating cash flow for healthcare providers.
What is the partnership between Streamline Health and Oracle Health?
The partnership promotes the integration of RevID with Oracle Health’s Soarian billing platform to optimize charge reconciliation processes.
Why is Texas a significant market for Streamline Health?
Texas boasts innovative healthcare providers, making it an ideal market for Streamline Health's expansion and pre-bill technology solutions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$STRM Insider Trading Activity
$STRM insiders have traded $STRM stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $STRM stock by insiders over the last 6 months:
- BENJAMIN LOUIS STILWILL (President and CEO) purchased 6,300 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$STRM Hedge Fund Activity
We have seen 13 institutional investors add shares of $STRM stock to their portfolio, and 18 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HARBERT FUND ADVISORS, INC. added 4,502,598 shares (+1400.0%) to their portfolio in Q3 2024
- UBS GROUP AG added 170,412 shares (+5509.6%) to their portfolio in Q3 2024
- PERKINS CAPITAL MANAGEMENT INC removed 131,027 shares (-100.0%) from their portfolio in Q3 2024
- HERALD INVESTMENT MANAGEMENT LTD removed 55,698 shares (-100.0%) from their portfolio in Q3 2024
- RADNOR CAPITAL MANAGEMENT, LLC added 28,285 shares (+1400.2%) to their portfolio in Q3 2024
- MORGAN STANLEY added 23,333 shares (+1399.7%) to their portfolio in Q3 2024
- TWO SIGMA SECURITIES, LLC added 9,726 shares (+1096.5%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ATLANTA, Dec. 18, 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 Health-EHR based health system with facilities in Western Texas. The deal was closed in partnership with Oracle Health.
Streamline Health is leading an industry movement to improve hospital financial performance through pre-bill technology solutions. RevID’s automated charge reconciliation enables hospitals to capture 100% of earned revenue by eliminating charge capture gaps and accelerates cash flow by ensuring that providers can accurately capture, bill and ultimately be paid for all the care they provide. Enabled by seamless integration with Oracle Health’s Soarian billing platform, RevID positions health systems to enhance financial operations by automating and optimizing charge reconciliation processes for greater accuracy and efficiency.
“Texas is home to some of the nation’s most forward-thinking healthcare providers, and is an ideal market for continued expansion,” stated Ben Stilwill, Chief Executive Officer. “Our growing partnership with Oracle Health strengthens our ability to deliver pre-bill solutions that seamlessly integrate with leading EHR platforms. We look forward to extending our footprint across Texas and beyond.”
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
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
