NRC Health Dossier
Qualitative Analysis
Business overview
National Research Corporation, doing business as NRC Health (NASDAQ: NRC), is a leading provider of healthcare experience management and experience improvement solutions in the United States. Founded in 1981 and headquartered in Lincoln, Nebraska, the company specializes in capturing deep stakeholder insights, market intelligence, and patient feedback to help healthcare systems humanize care, improve clinical outcomes, and optimize hospital operations. NRC Health serves approximately 75% of the top 100 health systems in the U.S., leveraging its proprietary platforms, including its AI-powered rounding companion 'Huey' and its executive governance platform 'The Governance Institute' (TGI). The company operates primarily under a subscription-based model, generating highly predictable recurring revenue.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Shifting strategic focus from being a traditional 'measurement partner' to a 'true outcomes driver' by leveraging its proprietary Huey™ AI engine. The company is rolling out AI-enabled solutions such as nGage, nQuire, nVolve, nLighten, and nAct to deliver real-time feedback, narrative summaries, and automated service recovery tools.
Expected impact: Aims to deepen customer relationships, increase cross-sell penetration across multiple SKUs, and drive higher survey response rates and actionable insights for healthcare organizations.
Rebuilding and expanding the direct sales force to drive new customer acquisition ('new logos') and improve customer retention, reversing the elevated attrition experienced in late 2024.
Expected impact: Successfully contributed to new sales bookings increasing over 200% year-over-year in Q1 2026, culminating in the largest contract win in company history.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquired to incorporate Nobl's digital rounding tools, automated patient follow-up workflows, and real-time feedback capabilities into NRC Health's experience management platform.
Financial impact: Added approximately $2 million of Total Recurring Contract Value (TRCV) at the acquisition date. Paid $6 million in cash at closing with a potential earnout of up to $1 million based on future performance.
Strategic Partnerships
Collaborating to enhance real-time feedback and holistic healthcare experience management, combining Medallia's experience platform with NRC Health's deep healthcare expertise.
Selected in February 2025 to elevate patient and employee experience initiatives across the health system using human-centered solutions.