Emdeon Inc., through its subsidiaries, provides revenue and payment cycle management and clinical information exchange solutions that connect payers, providers, and patients in the United States healthcare system. Its product and service offerings integrate and automate business and administrative functions for healthcare payers and healthcare providers throughout the patient encounter. The company operates in three segments: Payer Services, Provider Services, and Pharmacy Services. The Payer Services segment provides payment cycle solutions that simplify the administration of healthcare related to insurance eligibility and benefit verification, claims management, payment integrity, and paym...
3055 Lebanon Pike
Nashville, TN 37214
Founded in 2006
Emdeon Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Impairment of Long-Lived Assets for the Second Quarter of 2015
Jul 24 15
Emdeon Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s total revenue was $354,801,000 compared to $336,158,000 a year ago. Operating income was $31,966,000 compared to operating loss of $54,204,000 a year ago. Loss before income tax provision was $8,019,000 compared to $86,486,000 a year ago. Net income was $7,928,000 compared to net loss of $59,527,000 a year ago. Adjusted EBITDA was $97.9 million compared to $90.3 million a year ago. EBITDA was $79,631,000 compared to LBITDA of $3,313,000 a year ago.
For the six months, the company’s total revenue was $700,496,000 compared to $655,365,000 a year ago. Operating income was $56,169,000 compared to operating loss of $39,937,000 a year ago. Loss before income tax provision was $19,809,000 compared to $110,742,000 a year ago. Net income was $2,178,000 compared to net loss of $62,516,000 a year ago. This increase in net income as compared to the prior year periods was primarily due to the absence of an impairment charge related to the partial loss of a customer contract recognized in the prior year periods and a recent change to state tax laws impacting the current year periods. Net cash used in operating activities was $123,598,000 against $33,833,000 a year ago. Purchases of property and equipment were $24,654,000 against $25,952,000 a year ago. Adjusted EBITDA was $185.5 million compared to $168.6 million a year ago. Adjusted EBITDA increased 8.4% and 10.0% for the three and six month periods, respectively, compared to the prior year periods as a result of revenue growth, operational efficiencies and other productivity improvements. EBITDA was $153,963,000 compared to $55,457,000 a year ago.
Impairment of long-lived assets was $122,000 for the second quarter of 2015 compared to $76,508,000 a year ago.
Elavon Partners with Emdeon to Launch Transend Pay
Jul 7 15
Elavon and Emdeon announced the launch of Transend Pay, an innovative payments processing platform for hospitals and healthcare providers that significantly reduces the time it takes to receive payments from health insurance carriers. Paper checks may have little to no direct cost to the payee, but there are numerous indirect costs associated with the handling process such as slowing down cash flow availability and adding non-patient paper work for staff. Electronic deposits via Transend Pay do not require staff to open, record, reconcile, and deposit payments, offering significant time savings compared to checks. With Transend Pay, claim payments from participating insurance payers are deposited automatically into a hospital or healthcare provider’s bank account on file with Elavon and are reported on bank statements and MerchantConnect.com, Elavon’s online customer reporting tool. Because Emdeon serves as the clearinghouse for the paying insurance companies, protected health information remains secure via this new processing platform.
Emdeon Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Announces Impairment Charges
May 11 15
Emdeon Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. Net loss for the first quarter of 2015 was $5.7 million compared to $3.0 million for the same period in 2014. Total revenue was $345.7 million against $319.2 million reported last year. Operating income was $24.21 million against $14.3 million reported last year. Loss before income tax provision was $11.8 million against $24.3 million reported last year. Net cash provided by operating activities was $33.7 million against $26.7 million reported last year. Purchases of property and equipment was $12.7 million against $14.5 million reported last year. EBITDA was $74.3 million against $58.8 million reported last year. Adjusted EBITDA was $87.6 million against $78.3 million reported last year. This increase in Adjusted EBITDA compared to the same period in 2014 is primarily due to business growth and productivity improvements throughout the business.
For the quarter, the company also reported impairment of long-lived assets of $0.8 million compared to $3.1 million reported in the same period last year.