UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 25, 2013
Streamline Health Solutions, Inc.
(Exact name of registrant as specified in its charter)
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Delaware |
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0-28132 |
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31-1455414 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
1230 Peachtree Street, NE, Suite 1000,
Atlanta, GA 30309
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (404) 446-0050
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 — Regulation FD Disclosure.
Streamline Health Solutions, Inc. (the “Company”) is furnishing presentation materials to be discussed at the Craig-Hallum Alpha Select Investor Conference in New York, New York on September 26, 2013, included as Exhibit 99.1 to this Current Report on Form 8-K. The Company undertakes no obligation to update these presentation materials in the future, except as may be required by law.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.
Item 9.01 — Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
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Description of Exhibit |
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99.1 |
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Streamline Health Solutions, Inc. Presentation Materials presented on September 26, 2013. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Streamline Health Solutions, Inc. | |
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Date: September 25, 2013 |
By: |
/s/ Nicholas A. Meeks |
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Nicholas A. Meeks |
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Chief Financial Officer |
INDEX TO EXHIBITS
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Exhibit No. |
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Description of Exhibit |
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99.1 |
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Streamline Health Solutions, Inc. Presentation Materials presented on September 26, 2013. |
Exhibit 99.1
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Knowledge Management for Healthcare Providers NASDAQ: STRM Investor Presentation September 2013 |
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Disclosure Statements TRADEMARKS Product or company names referenced herein may be trademarks or registered trademarks of their respective owners. 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 expections. 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 under 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 of relevant risks, except as may be required by law. |
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Our Knowledge Management solutions aggregate unstructured and fragmented data across the clinical and financial spectrum of an admission or a visit– providing clients with intelligently organized, easily accessible insights, enabling better decision-making and better financial results. Knowledge management solutions provider Streamline Health: A Clear Way Forward Integrate with leading EMR, financial and clinical systems High client retention with deeply embedded solutions Installed base of top tier clients presents sizable opportunity SaaS model enhances recurring revenue – TTM Q2 2013 recurring revenue as % of total 77.5% Highly scalable SaaS model Executive team with extensive healthcare information technology experience in both public and private equity or venture backed entities. Proven management team The increasing complexity of provider reimbursement strategies coupled with the demands of E H R implementations and a shift in coding metrics are drivers for growth. Macro market conditions driving growth 95% client retention due to subject matter expertise coupled with innovative, deep and broad solutions that integrate with the existing business process of our clients while delivering meaningful ROI. |
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Actionable Information and Knowledge Management Collabra™ OpportunityAnyWare™ eCAC eCDI ePhysician Query eAbstract 835DenialWare AuditWare ARWare Solutions Across the Patient Experience The financial and operational spectrum of a patient encounter Referral Registration Admission Discharge Coding Billing & Collections CDI Reconciliation Audit HIM AccessAnyWare™ CharityWare ReferWare PreOpWare CompletionWare ReleaseWare FolderView Patient Access | Clinicians | HIM | Coding | Clinical Documentation Improvement | Patient Financial Services | Revenue Cycle Enterprise Content Management Business Analytics Concurrent Dual Coding |
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Competitive Landscape ECM / Access AnyWare Coding / Collabra Analytics / Opportunity AnyWare Traditionally compete on solution price, service level, agility, customizability & Industry specific Traditionally compete on solution appeal |
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Addressing Critical Healthcare Issues Electronic Medical Records Providers must show “meaningful use” by 2015 (maximum reimbursement ends 2012) HITECH/ARRA is just the beginning of the EMR life cycle Enable access to unstructured data from within the EMR with MU certified EHR module Declining Reimbursements Payor denials and lack of timely reimbursements squeeze profits With decreasing profit margins, providers will rely on business analytics tools to help them protect their revenue Accelerate coding, billing, A/R collection and increase visibility of financial KPIs with business analytics ICD-10 Transition ICD-9 to ICD-10 Conversion by October 1, 2014 Over 140,000 new codes in ICD-10 Computer Assisted Coding (CAC) solution addresses ICD-10 conversion issues Streamline Health solutions address critical pain points for providers |
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Growing Addressable Market Current Market Focus Potential New Markets Compelling Market Fundamentals |
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Case Studies |
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Current Client Base Frost and Sullivan report: U.S. Hospital Health Data Analytics Market (2012) |
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TTM Q2 13 TTM Q2 12 77.5% Recurring revenue % total 77.1% 48.2% Recurring revenue growth 24.2% 54.4% Gross margin 51.5% $51.9 Backlog ($ millions) $32.2 Financial Performance 48% Growth 15% Growth TTM Revenue ($ in millions) TTM Adj. EBITDA ($ in millions) Increasing Recurring Revenue Key Financial Improvements Achieved Recurring Revenue Other Revenue $19.3 $4.4 $14.9 TTM Ending Q2 2012 S28.5 $6.4 $22.1 TTM Q2 2013 Recurring Revenue Other Revenue $4.3 Q3 2011 $4.5 Q4 2011 $5.4 Q1 2012 S5.0 Q2 2012 $6.5 Q32012 $6.6 Q4 2012 $6.5 Q1 2013 $8.8 Q2 2013 $5.8 TTM ending Q2 2012 $6.6 TTM ending Q2 2013 |
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2013 Strategic Goals and Projections Key Strategic Goals FY 2013 Revenue ($ in millions) Adj. EBITDA ($ in millions) |
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Executive Team Name Title Years of Experience: Previously Streamline Industry Total Robert Watson President & Chief Executive Officer 3 23 32 DocuSys, Concuity, Cerner (NASDAQ: CERN) Nicholas Meeks Senior Vice President & Chief Financial Officer 2 6 9 Emdeon (NYSE: EM), Chamberlin Edmonds Richard Nelli Senior Vice President & Chief Technology Officer 1 22 22 Optum (NYSE: UNH), Caremedic Matthew Seefeld Senior Vice President, Solution Strategy 2 14 16 Interpoint Partners, Deloitte, PwC Michael Schiller Senior Vice President, Sales & Marketing 2 22 22 AllScripts (NASDAQ: MDRX), GE Healthcare (NYSE: GE) Herbert Larsen Senior Vice President, Client Services 1 25 26 Edifecs, Cigna (NYSE: CI), Arthur Andersen |
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Company Summary A leading provider of SaaS-based enterprise content management, business analytics, computer assisted coding (CAC), and clinical documentation improvement (CDI) solutions for healthcare providers. NASDAQ: STRM Exchange/Ticker September 24, 2013: $7.90 (52 Week High - $8.00, Low - $4.62) Share Price (52 Week Range) 13.0 million Common Shares Outstanding September 24, 2013: $102.7 million Market Cap $5.4 million (July 31, 2013) Cash $13.1 million (July 31, 2013) Bank Debt $28.5 million (July 31, 2013) TTM Revenue $6.6 million (July 31, 2013) TTM Adj. EBITDA 110 Number of Associates |
