U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
NASHVILLE - HealthStream (NASDAQ: NASDAQ:HSTM), a prominent provider of healthcare workforce solutions with a market capitalization of $1.01 billion and impressive gross profit margins of 66%, has recently announced that its CredentialStream application, along with the CredentialStream Hub and Network, has received HITRUST r2 Certification. According to InvestingPro data, the company maintains strong financial health with a perfect Piotroski Score of 9, indicating excellent operational efficiency. This certification is recognized as a premier benchmark for information protection and compliance in the healthcare industry, where the risk of data breaches is notably high.
CredentialStream, a software-as-a-service (SaaS) platform, is widely utilized by hospitals and health systems for managing credentialing, privileging, and enrollment processes. The HITRUST r2 Certification signifies that the application meets rigorous security standards, which is critical in an industry handling sensitive protected health information.
The certification process for HealthStream was extensive, involving over 900 baseline controls across 19 domains, focusing on various aspects of data and network security. This year-long initiative underscores HealthStream’s commitment to enhancing data security and risk management practices.
Robert A. Frist, Jr., CEO of HealthStream, expressed gratitude for the achievement and highlighted the collective effort of the company’s employees in reaching this milestone. The HITRUST r2 Certification is not only a testament to the company’s dedication to security but also positions HealthStream favorably among healthcare organizations seeking reliable and secure data management solutions. The company’s strong position is reflected in its financial stability, with moderate debt levels and sufficient cash flows to cover interest payments. For detailed analysis of HealthStream’s financial health and growth prospects, investors can access comprehensive research reports available on InvestingPro.
In the broader context of healthcare data security, HealthStream’s certification is particularly significant. The U.S. Department of Health and Human Services Office for Civil Rights reported 720 security breaches in 2024, with the majority occurring within healthcare provider organizations. HITRUST’s 2024 Trust Report revealed a low breach rate of 0.64% among HITRUST-certified environments for the years 2022 and 2023, underscoring the value of such certifications.
HealthStream, listed on NASDAQ as HSTM, is known for its comprehensive ecosystem of platform-delivered workforce solutions designed to empower healthcare professionals in providing excellent patient care. The company’s stock is currently trading near its 52-week high, with annual revenues of $288 million and notably low price volatility. InvestingPro subscribers have access to 12 additional investment tips and comprehensive financial metrics for HealthStream, helping investors make more informed decisions.
This news is based on a press release statement from HealthStream.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.