NRC Health sells subscription-based analytics and feedback software to U.S. hospitals and health systems. Its core product is a digital platform that collects feedback from patients, consumers, and employees, then delivers insights to help healthcare organizations improve performance. Key use cases include measuring patient experience, managing online reputation, tracking employee engagement, reducing hospital readmissions, and complying with CMS regulatory requirements around patient satisfaction surveys (CAHPS). Over 250 of the top 400 U.S. health systems use at least one NRC Health solution. NRC Health organizes its products into two areas: Human Understanding Solutions (the core business, covering patient, consumer, employee, and market experience) and Governance Solutions, a smaller membership-based business serving health system boards through The Governance Institute. Revenue is primarily fixed-price, annual subscriptions, making it recurring and predictable. Contract value scales with health system size and the number of solutions deployed. NRC Health's growth strategy centers on cross-selling additional modules to existing customers, adding new health systems, developing new products, and M&A. The cost structure is primarily employee-based, with most of NRC Health's roughly 360 associates working remotely, and the software-based platform is largely scalable.
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