Business
Contract Win for Supplies Cha
Contract Win for Supplies Cha.
About this update from Craneware Plc
[{"type":"text","content":"\n RNS Number : 3863T Craneware plc 28 September 2010 \n \n\n \nCraneware plc\n(\"Craneware\" or the \"Company\")\n \nCraneware secures $1.5m deal for Supplies ChargeLink\n \n28 September 2010 - Craneware plc (AIM: CRW.L; OTC: CRWRY), the market leader in automated revenue integrity solutions for the U.S. healthcare market, is pleased to announce that it has signed a four year contract for the delivery of its most recently launched solution, Supplies ChargeLink, to a long-standing U.S. hospital customer. The deal is worth over $1.5 million over the term of the contract and takes the total number of Craneware products in use at the hospital to four. Due to Craneware's annuity revenue recognition policy the majority of revenues will be recognised in future years.\n \nLaunched in December 2009, Supplies ChargeLink became Craneware's fifth product and sits within the Company's Supply Management product family. The solution helps hospitals better manage and optimise reimbursement for chargeable supplies, automating the manual processes still used in the majority of U.S. hospitals. \n \nThe growing fiscal and legislative pressures currently being experienced by U.S. hospitals mean management teams are seeking means of protecting slim operating margins in order to continue to deliver high standards of patient care. Craneware's product suite integrates clinical and financial data, enabling a hospital to capture all the reimbursement owed to them, to provide visibility into what they spend on supplies and ensure that they price, charge and code effectively and defensibly. \n \nThis is the largest Supplies ChargeLink contract signed to date, adding to Craneware's growing sales momentum. \n \nKeith Neilson, CEO of Craneware commented, \"This is a significant deal for us, validating our recent investment into both product development and our sales team. We believe our solutions such as Supplies ChargeLink are uniquely positioned to address a growing requirement within the U.S. healthcare industry for increased efficiencies, whilst managing mounting levels of compliance risk. We continue to focus on the execution of our growth strategy and are confident in our ongoing success.\" \n \nFor further information, please contact:\n \n\n\n\n\nCraneware plc\n\n\nKBC Peel Hunt \n\n\nThreadneedle Comm...