Business
Comprehensive Healthcare Systems Inc. Provides Corporate Update and Strategic Plan
Calgary, Alberta--(Newsfile Corp. - March 13, 2024) - Comprehensive Healthcare Systems Inc. (TS...
About this update from Comprehensive Healthcare Systems Inc
[{"type":"text","content":"Comprehensive Healthcare Systems Inc. Provides Corporate Update and Strategic PlanCalgary, Alberta--(Newsfile Corp. - March 13, 2024) - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the \"Company\" or \"CHS\"), an industry leader in healthcare benefits administration software and services, is pleased to announce its Company update for Q1, 2024.Comprehensive Healthcare Systems is pleased to provide an update on the business ending February 29th, 2024.Key Highlights:Completed major operational restructuring resulting in significant cost savings.Achieved realignment of cost structure to current revenue base.The Company expects to report positive EBIDTA on an adjusted go-forward basis in Q1 2024,\" not including legacy payments and extraordinary items against an average cash loss of over USD 300K per month as reported in quarter ending September 30, 2023. This does not include legacy payables under previous management, and extraordinary items.Implemented price rationalization across the client base to account for increased inflation resulting in enhanced revenue.Well positioned to explore additional revenue opportunities from current client base.Strong pipeline of new business development opportunities.Internalized technology team and reduced reliance on third party vendors resulting in better quality control and improved performance for clients.Strengthened management team in areas of operations and technology.Improved Customer Experience: Customers' support response improved 300% Year over year.The Company continues to diligence strategic opportunities that could enhance shareholders' value. Operational Improvements:Having completed our organizational restructuring in Q3/Q4, FY23, it has allowed us to complete the rollout of our new development and support strategy. The Company implemented a strategy to secure and internalize its fulfillment team and discontinued using third party vendors. This has resulted in a significant saving for CHS. The company and our clients are also seeing the positive effects from those efforts. Client support response has improved by almost 300% Year Over Year, and our new client engagement methodology has improved the level of client satisfaction, utilizing a better communication process and hitting committed delivery dates.As we implement new clients this year, we will be utilizing a new methodo...