Craneware plc Significant Contract Win (6008F)
28 Aprile 2014 - 8:00AM
UK Regulatory
TIDMCRW
RNS Number : 6008F
Craneware plc
28 April 2014
Craneware plc
("Craneware", "the Group" or the "Company")
Significant Contract Win
28 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 a significant multi-year
contract with a large multi-system hospital group in the US. The
contract is expected to deliver $3.8m revenue to the Group during
the 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 hospital system manages in excess of $1.5 billion operating
expenses, across multiple US states. The contract is for the
implementation of Chargemaster Corporate Toolkit(R) and related
products within Craneware's Revenue Cycle product family. One of
the key aspects of the corporate version of Chargemaster Toolkit is
the ability to establish and manage a corporate standard
chargemaster file across multiple hospitals and enable system-wide
reporting. The products will be used to reduce billing errors,
ensure the timely and accurate submission of claims and manage
compliance risk. This was a competitive win, replacing an incumbent
provider.
Keith Neilson, CEO of Craneware plc commented, "We are delighted
to have secured this competitive win, demonstrating the quality and
strength of our offering in the corporate environment with our
ability to deliver compelling levels of return on investment for
organisations of all sizes across the US healthcare industry."
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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