Craneware plc Significant Contract Wins (8274D)
02 Aprile 2014 - 8:01AM
UK Regulatory
TIDMCRW
RNS Number : 8274D
Craneware plc
02 April 2014
Craneware plc
("Craneware", "the Group" or the "Company")
Significant Contract Wins
2 April 2014 - Craneware (AIM: CRW.L), the market leader in
automated revenue integrity solutions for the US healthcare market,
is pleased to announce the signing of two new significant
multi-year contracts with large multi-system hospital groups in the
eastern US. The first contract is expected to deliver $3.8m revenue
to the Group during the five year term while the second will
deliver in excess of $3.1m over its seven year term. The Company's
revenue recognition policy means that whilst initial implementation
is scheduled in the current financial year, the full impact of the
revenue will be seen from FY15 onwards.
The first hospital system comprises over 1200 staffed beds and
incorporates multiple specialty care facilities and programs. The
contract is for the implementation of Chargemaster Toolkit(R) ,
Online Reference Toolkit(R) , Physician Revenue Toolkit(R) ,
Pharmacy ChargeLink(R) , Supplies ChargeLink(R) , and related
professional services. Chargemaster Toolkit will be utilised by the
organisation across its member hospitals to reduce billing errors,
ensure the timely and accurate submission of claims and manage
compliance risk. Pharmacy ChargeLink and Supplies ChargeLink will
allow the organisation to establish a critical connection between
pharmaceutical and supply purchases and billing - ultimately,
improving charge capture, coding and financial performance.
The second hospital system, which has over 3000 staffed beds,
has contracted for Craneware's gateway Pharmacy ChargeLink product
and related services.
This follows the signing of a nine year multi-product contract
with a medium sized hospital group in the first half of the year,
which following the addition of further products during the quarter
just finished, now has a cumulative contract value in excess of
$3.5m.
Keith Neilson, CEO of Craneware plc commented, "We are delighted
to have secured these three significant contracts in recent weeks,
all of which contain strategic product sets over multiple years.
These competitive wins demonstrate the relevance of the Craneware
product suite to all sectors of the US healthcare provider market,
building on the increase in sales we have witnessed in the first
half of the financial year and underline our leading position
within the revenue integrity marketplace."
For further information, please contact:
Craneware plc Peel Hunt Newgate Threadneedle
+44 (0)131 550 +44 (0)20 7418 +44 (0)20 7653
3100 8900 9850
Keith Neilson, Dan Webster Caroline Forde
CEO
Craig Preston, Richard Kauffer Fiona Conroy
CFO
Heather Armstrong
About Craneware
Founded in 1999, Craneware has headquarters in Edinburgh,
Scotland with offices in Atlanta, Arizona, Massachusetts and
Tennessee employing over 200 staff. Craneware is the leader in
automated revenue integrity solutions that improve financial
performance for healthcare organisations. Craneware's
market-driven, SaaS solutions help hospitals and other healthcare
providers more effectively price, charge, code and retain earned
revenue for patient care services and supplies. This optimises
reimbursement, increases operational efficiency and minimises
compliance risk. By partnering with Craneware, clients achieve the
visibility required to identify, address and prevent revenue
leakage. To learn more, visit craneware.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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