Craneware Regulatory News (CRW)

25 Sep 2009 07:00



Craneware plc

("Craneware" or the "Company")

CONTRACT WIN

25 September 2009 - Craneware plc (AIM: CRW), a leader in financial improvement software solutions for the US healthcare market, is pleased to announce the signing of a significant contract for the supply of Craneware's Revenue Cycle products to one of the largest not-for-profit health plans in the US. Head-quartered in California, the organisation comprises 31 hospitals and 15,000 physicians across the US.

Craneware's Chargemaster Toolkit® will be utilised by the organisation across its member hospitals to reducing billing errors, ensure the timely and accurate submission of claims and manage compliance risk. The Company's revenue recognition policy means that whilst implementation is scheduled in the current financial year, the full impact of the revenue will be seen from FY11 onwards.

Keith Neilson, CEO of Craneware, commented, "We are delighted to have secured such a significant multi-year contract in the first quarter of our new financial year. This contract with one of the leading healthcare organisations in the US, won following a competitive tendering process, underlines our market-leading position and further endorses the quality of our software and customer support. Additionally, the long-term nature of the contract adds to our significant amount of future revenue under contract, giving us a high-level of confidence in the ongoing growth of Craneware." 

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About Craneware

Founded in 1999, Craneware has headquarters in Livingston, Scotland, with offices in Florida, Arizona and Kansas, employing over 100 staff. Craneware is a recognised leader of solutions that improve the financial performance of US healthcare organisations. Craneware partners with healthcare organisations to improve returns, increase productivity and manage risk, driving sustainable financial and operational performance improvements using market-led revenue management solutions. By enhancing revenue capture processes, Craneware SaaS solutions allow those organisations to optimise reimbursement, improve operational efficiency, and support compliance.

For further information please visit craneware.com