Best Ideas Bowl October 2020
Nasdaq: STRM
1 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Disclosure Statement
SAFE HARBOR STATEMENT: FORWARD-LOOKING DISCLOSURE
This presentation contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current management expectations. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and that can cause Streamline Health's actual results to differ. We caution you therefore to not place undue reliance on such statements.
Actual results might differ materially from these statements due to a number of risks and uncertainties. Risks that may contribute to the uncertain nature of these statements are described in Streamline Health's periodic filings made with Securities and Exchange Commission. Special attention is directed to the portions of those documents entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Streamline Health undertakes no obligation to update any forward-looking statements or relevant risks, except as may be required by law.
TRADEMARKS
Product or company names referenced herein may be trademarks or registered trademarks of their respective owners
2 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Streamline Health Investment Highlights
Transforming hospital mid-revenue cycle management
Paradigm-shifting
eValuator™ Revenue
Integrity Program
Leading the industry in automated pre-bill coding analysis
70% | SaaS & Tech-Enabled |
Services Model | |
3-year+ contracts yield | |
Recurring Revenue | reliable, long-term revenue |
2Q20 | |
$3.1B
2018 Mid-Revenue
Cycle
Large market opportunity
expected to grow to $4.5B by 2023
Positioned for Growth in 2021 and Beyond
Despite COVID-19 impact, recent strategic evolution positions STRM for long- term top-line growth
3 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Hospital Coding Today is Wildly Inefficient
Hospital billing efficiency is throttled by its coders' ability to navigate the complexities of ICD-10 -
a classification system with >130,000 unique codes.
Significant sums are often left on the table as a result of a small coding error, while overbilling results in potential claw-backs and fines
Coding Complexity
>130,000 unique billing codes.
Regulatory Complexity
Simple coding errors can result in missed revenue or create regulatory risks.
Tremendous Urgency
Hospitals need an army of coders to keep up with demand. Each day a case isn't billed negatively impacts cash flow.
Minimal Auditing
Most providers audit only a handful of cases - and only after they've been billed.
PROVIDERS ARE FORCED TO
SACRIFICE CODING QUALITY FOR
EXPEDIENCY
We Streamline
Revenue Cycle
Management
Our SaaS-based tools and tech-enabled services relieve the financial pressure on hospitals by transforming clinical data into compliant revenue.
Our flagship eValuator™ Revenue Integrity Program helps improve coding accuracy, resulting in improved cash flow efficiency.
Clinical Data
Organize
Abstracting &
Physician Query
Optimize
Clinical Documentation
Improvement (CDI)
Evaluate
eValuator™ cloud-basedpre-bill coding analysis
Validate
Coding Audit
Services
Compliant
Revenue
How Automated Pre-Bill Coding Analysis Impacts Revenue
6 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Streamline Health Investment Highlights
Transforming hospital mid-revenue cycle management
Large Market Opportunity
eValuator™ Revenue Integrity Program
Positioned for Revenue Growth
7 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
A Unique Offering in a Growing Industry
Mid-Revenue Cycle Management
Market Size*
$4.5B
$3.1B
2018 | 2019 | 2020 | 2021 | 2022 |
8 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Significant greenfield opportunity for flagship eValuator™ automated, pre-bill coding analysis platform
Anticipate revenue growth from two sources: Direct Sales to Large Healthcare Providers and an expanding set of Resellers with large existing customer base
Growing from installed base of $11.2M recurring annual revenue
*Source: Research & Markets
Streamline Health Investment Highlights
Transforming hospital mid-revenue cycle management
Large Market Opportunity
eValuator™ Revenue Integrity Program
Positioned for Revenue Growth
9 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
The eValuator™ Revenue Integrity Program
Pre-Bill Revenue Integrity as a Service (PBRIaaS)
Combines eValuator's automated pre-bill analysis with our expert audit services
Enables providers to evolve their billing practice with a backbone of world-class auditing expertise
Improves hospital coding staff performance through automated coaching and real-time feedback
Current Practice
Post-bill audits of 1-2% of all records
New Practice
Analyze 100% of records before billing
- Randomly selected cases
- Limited window to resubmit for missed revenue
-
Minimal
coder development
- Increases coding accuracy
- Aids coder development
- Improves cash flow
- Reduces regulatory risk
10 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
The Impact of eValuator™
CASE STUDY
- Large not-for-profit health system in Texas
- 17 hospitals with a total
4,242 beds
Summary of Inpatient Results from Nov. 2019 to Aug. 2020
41,437 Cases Flagged (27%)
Cases Identified with Potential DRG Changes
$7,073,406 OF UNDER BILLING | ||
156,160 | $7,512,007 OF OVER BILLING | |
Cases Processed | ||
$14,585,413 | ||
TOTAL FINANCIAL IMPACT |
11 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
The eValuator™ Revenue Integrity Program Top Tier Customer Base
12 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Interoperability with Epic
Strong integration with leading EHR
Direct integration within existing Epic workflows
Coders will receive real-time notifications of any opportunities and risks, along with narrative advice to review/correct
Available as real-time HL7 & FHIR API via Epic App Orchard
13 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Streamline Health Investment Highlights
Transforming hospital mid-revenue cycle management
Large Market Opportunity
eValuator™ Revenue Integrity Program
Positioned for Revenue Growth
14 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Bookings & Pipeline
Consistent quarterly bookings goal of $2-$3M
First Half 2020 negatively impacted by COVID-19, anticipate bookings improvement through remainder of 2020/2021
Pipeline contains $62M of opportunity among 68 prospects
$3.6M
$2.9M
$2.4M
$1.3M | $1.3M | |
$0.8M | ||
1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 |
New Bookings
15 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Line of Sight to Free Cash Flow
Our monthly break-even cash requirements (revenue requirements) averages $1.2M in Fiscal 2020; $1.5M in Fiscal 2021;
eValuator reaches 'scale' at $1.6M revenue per month in FY 2023
Based on our projections we will reach cash generation in Q3/Q4 2021;
Recent sale of legacy ECM business provides sufficient cash to operate without additional financing
16 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Clean Capital Structure
As of 7/31/20
Cash & cash equivalents | $5.7M - sufficient through 2021 |
Debt | No bank debt |
Common Stock | 30.4M shares outstanding |
17 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
Best Ideas Bowl
Nasdaq: STRM
18 | Streamline Health (Nasdaq: STRM) |
© 2020 Streamline Health, Inc. All Rights Reserved. | |
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Streamline Health Solutions Inc. published this content on 16 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 October 2020 16:34:02 UTC