National Research Corp (NASDAQ: NRC)

National Research Corporation, commonly referred to as NRC Health, is a prominent player in the healthcare information and market research services industry. The company, headquartered in Lincoln, Nebraska, has built a reputation over four decades as a leading provider of patient experience solutions for healthcare providers and other healthcare organizations.

NRC Health's primary business activities revolve around providing actionable information and analysis to healthcare organizations. These services span a range of mission-critical, constituent-related elements, including patient experience, service recovery, care transitions, employee engagement, reputation management, and brand loyalty. These services are designed to help healthcare providers improve various aspects of their operations, ultimately leading to enhanced patient satisfaction and health outcomes.

The company generates revenue primarily through the renewal of subscription-based client service agreements. These agreements are supplemented by sales of additional solutions to existing clients and the addition of new clients. NRC Health's sales activities are carried out by a dedicated growth team comprising professional and trained sales associates. The company also engages in marketing activities that enhance its brand visibility, generate demand for its solutions, and engage existing clients.

In the competitive landscape of the healthcare information and market research services industry, NRC Health positions itself as a leading provider of patient experience solutions. Its competitors include Press Ganey and other organizations with less annual revenue. NRC Health's competitive advantages include its established client base of leading healthcare organizations, its highly scalable and visible revenue model, and its comprehensive portfolio of solutions.

NRC Health's solutions are primarily offered through fixed-price, subscription-based service agreements. These agreements are recurring in nature, enabling ongoing relationships with clients and favorable retention. The company's proprietary rights, including its systems, survey instruments, and procedures, are protected by copyright and trade secret laws and associated nondisclosure agreements.

The healthcare industry is significantly influenced by government regulation, with the Centers for Medicare and Medicaid Services (CMS) being a key player. NRC Health's solutions are designed to help healthcare providers comply with CMS regulations, such as the requirements for capturing and reporting patient experience data.

NRC Health's human capital comprises 435 associates, none of whom are represented by a collective bargaining unit. The company considers its relationships with its associates to be good and is committed to providing a workplace free of harassment or discrimination.

NRC Health's solutions cater to the healthcare industry, providing insights and analysis to help healthcare organizations improve patient satisfaction, loyalty, and advocacy. The company's offerings include patient experience surveys, service recovery programs, care transitions initiatives, employee engagement programs, reputation management programs, and brand loyalty programs.