Performant Financial Corp (OQ:PFMT)
Business Focus: Business Support Services
| Sector: Industrials | Industry: Business Support Services |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 333 North Canyons Parkway LIVERMORE CA 94551 |
| Tel: | N/A |
| Website: | https://www.performantcorp.com/home/default.aspx |
| IR: | See website |
| Key People | ||
| Lisa C. Im Executive Chairman of the Board | Simeon M. Kohl Chief Executive Officer, Director | Rohit Ramchandani Chief Financial Officer | Ian A. Johnston Chief Accounting Officer, Vice President |
| Business Overview |
| Performant Financial Corporation supports healthcare payers in identifying, preventing, and recovering waste and improper payments by leveraging advanced technology, analytics and data assets. The Company works with national and regional healthcare payers to provide eligibility-based, also known as coordination-of-benefits (COB) services, as well as claims-based services, which includes the audit and identification of improperly paid claims. It also provides advanced reporting capabilities, support services, customer care, and stakeholder training programs designed to mitigate future instances of improper payments. The Company offers these services in both government and commercial healthcare markets. It provides audit, eligibility, and recovery services to identify improper healthcare payments. The Company provides its services to government and private clients, such as private healthcare and Center for Medicare and Medicaid Services (CMS). |
| Financial Overview |
| For the three months ended 31 March 2024, Performant Financial Corp revenues increased 6% to $27.3M. Net loss decreased 5% to $4M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Lower net loss reflects Interest expense decrease of 55% to $186K (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$0.06 to -$0.05. |
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