HealthStream has been on a roll for a good while now, adding hospital clients and employee users. On the company's second-quarter earnings conference call Tuesday, Chairman, President and CEO Bobby Frist said his team is looking to break into related health care business such as long-term care, behavioral health and home health services. HealthStream would do so primarily by following its hospital clients as they buy their way into those spaces.

We haven’t declared this, but maybe in our next conference call we’ll give more insight, a renewed focus and maybe a financial investment focus in areas of launching new markets [...] [O]bviously those investments would precede earnings growth if we were to do those and we’re in our strategic planning process the next four months and out of that may come new initiatives for next year, early next year.