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Chargemaster Toolkit® Completes Rigorous Review to Once Again Achieve “Peer Reviewed by HFMA®” Designation

ATLANTA, January 31, 2019 – Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today...

Craneware Enhances Award-Winning Customer Experience with Innovative New Educational and Performance Improvement Programs

ATLANTA, January 30, 2019 – Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today...

Craneware Showcases Cost and Margin Analytics, EHR Integration Services at HIMSS19

ATLANTA, January 23, 2019 – Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today...

Trading Update and Notice of Results

Strong performance expected to deliver revenue and adjusted EBITDA growth in the range of 15% to 20% 21 December 2018 -...

Dividend Currency Election

09 November 2018 - Craneware plc (AIM: CRW.L), the market leader in Value Cycle solutions for the US healthcare market, today...
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ATLANTA, January 31, 2019 – Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today announced it has once again achieved the “Peer Reviewed by HFMA” designation for its Chargemaster Toolkit product.

The program’s initial survey consists of a rigorous 11-step, high-level screening process by a peer review panel consisting of current customers, prospects who have not made a purchase, and expert HFMA Peer Review members. Participants provided comments on a variety of criteria, including willingness to recommend to colleagues; enhanced productivity; smoothness of implementation; data accuracy; ease of installation; quality of sales staff; ease of use; value; and quality of technical support.

As healthcare providers evolve beyond traditional revenue cycle management to value-based economics, more than 1,500 U.S. hospitals and health systems rely on Chargemaster Toolkit to:

  • optimize reimbursement by identifying chargemaster incompleteness and inaccuracy;
  • increase operational efficiency by automating chargemaster management;
  • manage workflow based on the organization’s change-validation control processes; and
  • track interdepartmental routing, approvals, and communication to provide an accurate audit trail.

“Since Craneware introduced the industry’s first effective chargemaster management solution for U.S. healthcare in 1999, our commitment to the U.S healthcare financial industry has never wavered,” said CMO Mark Montgomery for Craneware. “Recognitions like this from such a well-respected organization as HFMA further demonstrates that Chargemaster Toolkit is the leading solution for organizations who are looking to prevent earned revenue loss.”

Craneware customers recently commented on their partnership with the company:

“We’re actually pitching Craneware to the larger health system that we just joined with because it is … It’s so easy to use.”

Heather Ryan, Financial Data Coordinator

“I felt like I developed a loyalty fairly quickly and it was based on just really good open, honest people with a lot of integrity that I was dealing with at Craneware.”

Helen Haas, MHA, Manager of Strategic Pricing & CDM

 

About Craneware

Craneware (AIM: CRW.L) is the market leader in software and supporting services that help healthcare providers improve margins so they can invest in quality patient outcomes. The company's flagship solution, Chargemaster Toolkit®, has earned the KLAS No.1 ranking in Revenue Cycle - Chargemaster Management for 12 of the past 13 years and is part of our value cycle management suite, which includes Charge Capture & Strategic Pricing, Patient Engagement, Claims Analytics, Revenue Recovery & and Retention, Cost & Margin Analytics solutions. Learn more at craneware.com.

###

Craneware Media Contact:

b.parrish@craneware.com

404-364-2150

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ATLANTA, January 30, 2019 – Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today announced several new programs to further enhance the partnership experience for its valued customers.

Craneware Academy is an award-winning online education program designed to help customers develop a deeper understanding of how the company’s products and services work while also providing world-class healthcare financial industry training to support ongoing education. Custom-developed courses are available for all user levels, from new employees to advanced users, and certifications can be achieved at identified milestones.

Craneware’s Customer Lifecycle Management program brings together data and the company’s passionate professionals to define and deliver value throughout the customer lifecycle. Consistent usage monitoring and involvement from Craneware staff when necessary is utilized to ensure objective measurement of customer adoption, success and value derived during the partnership.

The Craneware Value Cycle Excellence Awards were created to recognize outstanding customer adopters of Craneware solutions who are driving value cycle excellence, the full lifecycle of optimizing every opportunity to achieve the best outcome for the best cost. These organizations are evolving beyond traditional revenue cycle management to value-based economics – an understanding of the underlying pressures on margin and its correlation to patient outcomes.

“For the past 20 years, we have worked alongside our customers to tackle the financial challenges faced in an evolving healthcare industry,” said Karen Bowden, executive vice president customer management for Craneware. “These new programs provide the education, objective measurement of financial achievements and a future vision that will help our customers continue to deliver exceptional care for their communities.”

To learn more about how you can start your journey to value cycle success with Craneware, please visit this link

About Craneware

Craneware (AIM: CRW.L), the leader in automated value cycle solutions, collaborates with U.S. healthcare providers to plan, execute and monitor value-based economic performance. Our flagship solution, Chargemaster Toolkit®, has earned the KLAS No.1 ranking in Revenue Cycle – Chargemaster Management since 2006 and is part of our value cycle management suite, which includes charge capture, strategic pricing, patient engagement, claims analytics, patient engagement, revenue recovery and retention, and cost and margin analytics solutions. Learn more at craneware.com.

###

Craneware Media Contact:

b.parrish@craneware.com

404-364-2150

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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Craneware Enhances Award-Winning Customer Experience with Innovative New Educational and Performance Improvement Programs [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => open [post_password] => [post_name] => craneware-enhances-award-winning-customer-experience-with-innovative-new-educational-and-performance-improvement-programs [to_ping] => [pinged] => [post_modified] => 2019-01-31 12:53:27 [post_modified_gmt] => 2019-01-31 12:53:27 [post_content_filtered] => [post_parent] => 0 [guid] => https://public.craneware.com/?p=205739 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 205724 [post_author] => 2 [post_date] => 2019-01-23 14:57:38 [post_date_gmt] => 2019-01-23 14:57:38 [post_content] => [et_pb_section bb_built="1" next_background_color="#e6eaee" _builder_version="3.0.106" module_class="article-post"][et_pb_row][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2"]

ATLANTA, January 23, 2019 – Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today announced it will be demonstrating the value of its Trisus® Healthcare Intelligence (THI) solution and EHR Integration Services during HIMSS19, which takes place February 11-15 in in Orlando, Fla. Craneware will be part of the Georgia, USA booth (#4573).

As the healthcare industry evolves beyond traditional, “old-school” revenue cycle management and towards value-based economics, outcomes are increasingly evaluated on both cost and quality of care. The importance of understanding cost at a patient level across the hospital or health system, department and medical condition is essential to detecting waste and cost saving opportunities – especially when negotiating with payors.

Trisus Healthcare Intelligence is a patient cost and margin analytics decision support solution that integrates revenue, cost, clinical and hospital operational information for each patient encounter. This information is used to shed light on how individual process variations made by physicians produce different profit margins by medical condition. Armed with these insights, hospitals and health systems can drive process improvements that maximize both clinical and financial outcomes.

“In any industry, successful organizations are those that know their processes and determine their true costs and control them,” said Pietro Ferrara, senior vice president healthcare analytics for Craneware Healthcare Intelligence. “THI is a cloud-based solution that introduces innovative and disruptive cost management techniques into healthcare, and we feel this is a truly game-changing approach to activity-based costing for the industry.”

During EHR system implementations, conversions and upgrades, or when bringing new facilities into a healthcare system, revenue cycle teams are increasingly in need of guidance and expertise. One critical area of focus should be on reconciling the clinical system to the chargemaster, which ensures charges flow accurately from the point of order entry to the patient account. Craneware is uniquely qualified to assist in these areas as the company has more than a decade of experience successfully working with healthcare providers in various EHR environments.

Craneware Integration Services leverages a multi-faceted approach to help organizations create a sustainable culture of revenue integrity through the following:

  • Project Management
  • CDM Clean Up Prior to Go-Live
  • CDM Standardization
  • Clinical System to CDM Reconciliation
  • Charge Capture Analysis
  • Charge Testing and Validation
  • Revenue Management

“For customers, our goal is to quickly get their organization not only back to baseline revenue levels, but to go beyond the baseline to achieve and sustain higher revenue with an EHR system,” said Elaine Dunn, DHA, RRT, RPSGT, CPCO, vice president systems integration for Craneware. “A key to achieving this is having Craneware experts onsite to provide what we like to call ‘at-the-elbow’ support.”

About Craneware

Craneware (AIM: CRW.L), the leader in automated value cycle solutions, collaborates with U.S. healthcare providers to plan, execute and monitor value-based economic performance. Our flagship solution, Chargemaster Toolkit®, has earned the KLAS No.1 ranking in Revenue Cycle – Chargemaster Management since 2006 and is part of our value cycle management suite, which includes charge capture, strategic pricing, patient engagement, claims analytics, patient engagement, revenue recovery and retention, and cost and margin analytics solutions. Learn more at craneware.com.

###
Craneware Media Contact:
b.parrish@craneware.com

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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Craneware Showcases Cost and Margin Analytics, EHR Integration Services at HIMSS19 [post_excerpt] => Determining the true cost of patient care and navigating EHR system implementations, conversions and upgrades is the company’s focus at leading HIT Conference [post_status] => publish [comment_status] => closed [ping_status] => open [post_password] => [post_name] => craneware-showcases-cost-and-margin-analytics-ehr-integration-services-at-himss19 [to_ping] => [pinged] => [post_modified] => 2019-01-30 13:44:50 [post_modified_gmt] => 2019-01-30 13:44:50 [post_content_filtered] => [post_parent] => 0 [guid] => https://public.craneware.com/?p=205724 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 205647 [post_author] => 2 [post_date] => 2018-11-13 17:30:02 [post_date_gmt] => 2018-11-13 17:30:02 [post_content] => [et_pb_section bb_built="1" next_background_color="#000000" _builder_version="3.2.2"][et_pb_row _builder_version="3.2.2"][et_pb_column type="4_4"][et_pb_video _builder_version="3.2.2" src="https://public.craneware.com/wp-content/uploads/2018/11/Drug-Pricing-Standardization-for-Hospitals-and-Health-Systems.mp4" image_src="https://public.craneware.com/wp-content/uploads/2018/11/Drug-Pricing-Standardization-for-Hospitals-and-Health-Systems.jpg" play_icon_color="#0c71c3" max_width="65%" module_alignment="center" border_width_all="2px" box_shadow_style="preset3" border_color_all="#ecf0f1" /][/et_pb_column][/et_pb_row][et_pb_row _builder_version="3.0.106" use_custom_width="on" custom_width_px="750px" module_class="webinar-body-text"][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2"]

With pharmaceuticals playing an increasingly important role in the revenue cycle, leadership at independent hospitals and health systems are looking for ways to ensure both pharmacy and finance staff are able to work together to achieve standardized, defensible, and transparent pricing for drugs. Join us for an educational presentation on best practices for drug pricing markup policy standardization. Brian will cover both standalone hospitals and multi-hospital health systems, how to accomplish standardization before, during or after a major EHR upgrade or implementation to the formulary system, and how to ensure drug pricing is competitive and defensible while remaining net neutral. This presentation will explore different approaches to corporate drug pricing standardization in health systems, as well as key factors to consider and common problems encountered when managing drug pricing across multiple formularies and hospitals.

  • Understand drug pricing markup strategies and standardization methods
  • Improve drug pricing policy adherence
  • Identify potential areas for simplification, standardization, or automation between your pharmacy and finance teams

Speakers:

  • Vickie McElarney, RN, MBA, FACHE, COC, Consultant
  • Dapo Akanbi, Net Patient Revenue Implementation Manager
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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Value Cycle Excellence: Drug Pricing Standardization for Hospitals and Health Systems [post_excerpt] => With pharmaceuticals playing an increasingly important role in... [post_status] => publish [comment_status] => closed [ping_status] => open [post_password] => [post_name] => value-cycle-excellence-drug-pricing-standardization-for-hospitals-and-health-systems [to_ping] => [pinged] => [post_modified] => 2018-11-26 20:47:23 [post_modified_gmt] => 2018-11-26 20:47:23 [post_content_filtered] => [post_parent] => 0 [guid] => https://public.craneware.com/?p=205647 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [4] => WP_Post Object ( [ID] => 205642 [post_author] => 2 [post_date] => 2018-10-26 16:55:30 [post_date_gmt] => 2018-10-26 16:55:30 [post_content] => [et_pb_section bb_built="1" next_background_color="#000000" _builder_version="3.2.2"][et_pb_row _builder_version="3.2.2"][et_pb_column type="4_4"][et_pb_video _builder_version="3.2.2" src="https://public.craneware.com/wp-content/uploads/2018/11/2018-10-Chargemaster-and-Price-Transparency.mp4" image_src="https://public.craneware.com/wp-content/uploads/2018/11/chargemaster-and-price-transparency.jpg" play_icon_color="#0c71c3" max_width="65%" module_alignment="center" border_width_all="2px" box_shadow_style="preset3" border_color_all="#ecf0f1" /][/et_pb_column][/et_pb_row][et_pb_row _builder_version="3.0.106" use_custom_width="on" custom_width_px="750px" module_class="webinar-body-text"][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2"]

Based on changes to the IPPS Final Rule, beginning in January 2019, hospitals will be required to publish a list of their standard charges online. This regulatory requirement presents an opportunity for healthcare finance teams to grow their market share and provide patients with accurate payment estimates. Trends indicate patients are “shopping” for providers with the best quality and cost, just as they do with any other commodity. This shift, along with changing reimbursement models and new regulatory requirements, motivates hospitals and health systems to adopt a consumerism-approach to healthcare which will attract and retain patients.

A Craneware customer will share their experience and the success that began with a thorough review of the hospital’s chargemaster. From the review, the customer achieved its strategic goal of creating a market based pricing strategy that keeps them competitive while also maximizing the changing payment methodologies impact rural hospitals.

In this session, presenters will share how they used the chargemaster as the foundation to build a competitive pricing strategy. Attendees will learn how to review and use their chargemaster to create a market-based pricing strategy while significantly improving patient loyalty and maximizing financial performance. The approach raised patient satisfaction, increased patient payment, and improved the hospital’s financial outcomes.

Topics Covered include:

  • Engaging with key stakeholders early on in the chargemaster review initiative, communicating the project as a top-priority and ensuring ongoing participation in chargemaster processes
  • Establishing a market-based pricing strategy using accurate charge data by comparing prices against competitors
  • Implementing a process for pricing assessment, and establishing a timeline for continual reevaluation of charges using a 100% market-competitive chargemaster
  • Identifying a strategic, multidisciplinary team comprised of clinical, non-clinical and IT professionals to champion a cross-department chargemaster review with pricing adjustments
  • Making prices available to patients online to become fully transparent

Objectives:

  • Identify common challenges that healthcare providers face to keep prices competitive and increase revenue
  • Describe the importance of performing a thorough chargemaster review to identify areas of pricing variance
  • Explain why healthcare organizations should spend a year focusing solely on chargemaster maintenance in order to see ROI
  • Discuss how increased patient loyalty can significantly impact a healthcare organization’s bottom line
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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Chargemaster & Price Transparency: Building Patient Loyalty while Improving Financial Performance [post_excerpt] => Based on changes to the IPPS Final Rule, beginning in Jan... [post_status] => publish [comment_status] => closed [ping_status] => open [post_password] => [post_name] => chargemaster-price-transparency-building-patient-loyalty-while-improving-financial-performance [to_ping] => [pinged] => [post_modified] => 2018-11-26 20:46:50 [post_modified_gmt] => 2018-11-26 20:46:50 [post_content_filtered] => [post_parent] => 0 [guid] => https://public.craneware.com/?p=205642 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [5] => WP_Post Object ( [ID] => 31290 [post_author] => 2 [post_date] => 2018-07-02 18:58:43 [post_date_gmt] => 2018-07-02 18:58:43 [post_content] => [et_pb_section bb_built="1" next_background_color="#000000" _builder_version="3.2.2"][et_pb_row _builder_version="3.2.2"][et_pb_column type="4_4"][et_pb_video _builder_version="3.2.2" src="https://public.craneware.com/wp-content/uploads/2018/07/2018-06-Chargemaster-Policies-101.mp4" image_src="https://public.craneware.com/wp-content/uploads/2018/07/cdm-policies.png" play_icon_color="#0c71c3" max_width="65%" module_alignment="center" border_width_all="2px" box_shadow_style="preset3" border_color_all="#ecf0f1" /][/et_pb_column][/et_pb_row][et_pb_row _builder_version="3.0.106" use_custom_width="on" custom_width_px="750px" module_class="webinar-body-text"][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2"]

This complimentary webinar will cover best practices for chargemaster management policies and procedures for hospitals and health systems.

Craneware has implemented new chargemaster processes and tools in nearly 1/3 of US hospitals, and often we find teams operating without clear chargemaster policies and procedures. This presentation will provide a step-by-step guide to help your team define your CDM policies and procedures, as well as ways to improve upon existing written policies.

The following topics will be covered:

  • Policies and Procedures – why they are important, critical elements
  • How to create or update your CDM Policies and use a policy approval checklist

An overview of standard CDM policies:

  • CDM Maintenance
  • Charge Reconciliation
  • Room and Bed Charging

Recommended for:

  • Chargemaster Managers and Coordinators
  • Revenue Cycle and Revenue Integrity Leadership
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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Chargemaster (CDM) Policies 101 [post_excerpt] => This complimentary webinar will cover best practices for chargemaster management policies and procedures for hospitals and health system... [post_status] => publish [comment_status] => closed [ping_status] => open [post_password] => [post_name] => 340b-opps-changes-and-improving-pharmacy-revenue-integrity-2 [to_ping] => [pinged] => [post_modified] => 2018-11-26 17:48:55 [post_modified_gmt] => 2018-11-26 17:48:55 [post_content_filtered] => [post_parent] => 0 [guid] => https://public.craneware.com/?p=31290 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [6] => WP_Post Object ( [ID] => 31277 [post_author] => 2 [post_date] => 2018-06-25 12:07:06 [post_date_gmt] => 2018-06-25 12:07:06 [post_content] => [et_pb_section bb_built="1" next_background_color="#000000" _builder_version="3.0.106" module_class="article-post"][et_pb_row][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2"]

LAS VEGAS, June 25, 2018Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today announced at the HFMA 2018 Annual Conference it is showcasing how the cloud-based Trisus platform continues to drive enhanced financial performance for U.S. hospitals and health systems.

Healthcare providers must ensure reimbursement for all chargeable items, especially high-cost implantable medical devices. Trisus Supply – a new application available for early adopters on the Trisus platform – helps identify data gaps between the Item Master, Chargemaster and Operating Room Order Entry System. These gaps shine a light on opportunities to correct charge capture issues related to revenue, cost and compliance to ensure higher reimbursement. Trisus Supply is available for demonstration at the Craneware booth (#1001).

Craneware Healthcare Intelligence’s core software solution, Trisus Healthcare Intelligence, integrates clinical, financial and operational patient information and determines the actual costs to each patient episode based on the services/activities during the encounter and the corresponding consumption of resources. Leadership from Craneware Healthcare Intelligence is available to discuss this innovative costs analytics initiative at the Innovation Hub (#863-N) on the show floor.

Trisus Claims Informatics accesses data compiled from more than 200 million related Medicare and commercial payor claims to provide predictive analytics and root-cause analysis around charge capture issues. Beebe Healthcare is sharing its experience with the solution in a presentation titled “Post-Claim Analysis: Making You Claims Data Work for You” on Wednesday, June 27, 10-11:15 am.

“As Craneware enters our twentieth year in business, we are uniquely positioned to help forward-looking providers make the transition from ‘old school’ revenue cycle management to understanding the underlying pressures on margin and its impact on patient outcomes,” said Keith Neilson, Craneware CEO. “The end result is an emerging, high-growth market for value cycle informatics and a performance platform that help providers understand risks, optimize revenue and meaningfully impact cost on a continuous basis.”

About Craneware

Craneware (AIM: CRW.L) is the market leader in software and supporting services that help healthcare providers improve margins so they can invest in quality patient outcomes. Our flagship solution, Chargemaster Toolkit®, has earned the KLAS No.1 ranking in Revenue Cycle – Chargemaster Management since 2006 and is part of our value cycle management suite, which includes patient engagement, charge capture and pricing, claims analysis, revenue recovery and retention, and cost analytics solutions. Learn more at craneware.com.

###

Craneware Media Contact:

b.parrish@craneware.com

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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Craneware Demonstrates Continued Evolution of Trisus® Platform at HFMA 2018 Annual Conference [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => open [post_password] => [post_name] => craneware-demonstrates-continued-evolution-of-trisus-platform-at-hfma-2018-annual-conference [to_ping] => [pinged] => [post_modified] => 2018-08-31 14:43:52 [post_modified_gmt] => 2018-08-31 14:43:52 [post_content_filtered] => [post_parent] => 0 [guid] => https://public.craneware.com/?p=31277 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [7] => WP_Post Object ( [ID] => 28917 [post_author] => 2 [post_date] => 2018-05-25 18:43:43 [post_date_gmt] => 2018-05-25 18:43:43 [post_content] => [et_pb_section bb_built="1" _builder_version="3.0.47" next_background_color="#000000"][et_pb_row use_custom_width="on" custom_width_px="750px" _builder_version="3.2.2"][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2"]

Webinars

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There are currently no upcoming webinars.

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Value Cycle Excellence: Machine Learning in the Revenue Cycle
Date: 02/07/2019
Cost: Complimentary

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Value Cycle Excellence: 2019 CPT Changes and Chargemaster Best Practices
Date: 01/31/2019
Cost: Complimentary

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Events

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HIMSS
Date: 2/11/2019 – 2/15/2019
Location: Orlando, FL

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HFMA Revenue Cycle Conference
Date: 3/20/2019 – 3/22/2019
Location: Austin, TX

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Health Leaders Revenue Cycle Exchange
Date: 3/27/2019 – 3/29/2019
Location: Ojai, CA

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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Upcoming Events [post_excerpt] => Stay up to date on the latest Craneware webinars and upcoming events. [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => upcoming-events [to_ping] => [pinged] => [post_modified] => 2019-02-14 18:51:22 [post_modified_gmt] => 2019-02-14 18:51:22 [post_content_filtered] => [post_parent] => 0 [guid] => https://public.craneware.com/?p=28917 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [8] => WP_Post Object ( [ID] => 27411 [post_author] => 2 [post_date] => 2018-03-06 16:23:15 [post_date_gmt] => 2018-03-06 16:23:15 [post_content] => [et_pb_section bb_built="1" next_background_color="#000000" _builder_version="3.0.106" module_class="article-post"][et_pb_row][et_pb_column type="4_4"][et_pb_text _builder_version="3.0.106" background_layout="light"]

ATLANTA, March 6, – Craneware, Inc. (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today announced its unaudited results for the six months ending December 31, 2017. The company also announced the initial launch of Craneware Healthcare Intelligence, a new business division focusing on providing cost analytics decision support solutions for healthcare organizations with its software solution, Trisus CARE (Trisus Cost Analytics and Resource Efficiency).

Financial Highlights
  • Revenue increased 16% to $31.1m (H1 2017: $26.8m)
  • Adjusted EBITDA1 increased 18% to $9.7m (H1 2017: $8.2m)
  • Profit before tax increased 16% to $8.7m (H1 2017: $7.5m)
  • Adjusted basic EPS increased 18% to 25.4 cents per share (H1 2017: 21.6 cents per share)
  • Cash position of $52m (H1 2017: $45m) following dividend payment of $4.1m
  • Proposed interim dividend increased 15% to 10p (H1 2017: 8.7p per share)

1. Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments and acquisition and share transaction related costs.

Operational Highlights
  • Two significant contracts secured in the half, with a further two announced post period end
  • Increasing market engagement with our newly launched cloud-based platform, Trisus
Outlook
  • Record sales pipeline for the current financial year
  • Total visible revenue of over $63.1m for the current financial year and $179.4m for the three-year period to June 2020
    (H1 2017 same three year period: $149.1m)

Keith Neilson, CEO of Craneware plc commented, “Our extensive expertise and experience in the US healthcare market means we are well positioned to provide actionable insight for our customers. By combining their financial and operational data in unique ways, our solutions ensure they can continue to thrive in the new era of value-based care.

“The investments made into Craneware’s product suite and operations in recent years means we are now delivering growth rates which are outperforming our industry. We are seeing growing interest across our enlarged product suite and are particularly pleased with the high levels of interest and opportunities across our customer base for our newly launched cloud-based platform, Trisus.

“With an ongoing, growing market opportunity, a record sales pipeline and increasing long-term revenue visibility, we enter the second half of the year with great confidence for the future and the ongoing success of the business.”


The importance of understanding costs across the hospital and health system at the department and patient levels is essential to uncovering cost saving opportunities. Craneware Healthcare Intelligence’s core software solution, Trisus CARE, integrates clinical, financial and operational patient information and determines the actual costs to each patient episode based on the services/activities of the patient during the encounter and the corresponding consumption of resources.

Trisus CARE users are able to:

  • identify true cost based on resource allocation;
  • determine profitability by multiple metrics including the medical condition;
  • gauge an actual patient journey and identify physician variability that is driving cost and profit variability; and
  • utilize analytical insights to drive actionable process improvement.

“Healthcare IT systems have traditionally relied on estimations of cost and surrogate markers to approximate the cost against revenue streams. Unfortunately, this has led to a poor understanding of whether revenue covers costs by medical condition,” said Pietro Ferrara, senior vice president and leader of Craneware Healthcare Intelligence. “Trisus CARE sheds light on how variations in clinical care based on physician decisions produce different profit margins by medical condition. This insight can be used to determine best practices which will improve financial performance and lead to a competitive advantage in the marketplace.”

“From hospital management and cost analytics to supply chain and clinical operations, Pietro brings a vast range of international experiences to Craneware,” said Keith Neilson, Craneware CEO. “We are excited about this strategic initiative as we extend the value of our product offering into new and emerging areas.”

For those attending HIMSS18, Craneware Healthcare Intelligence will be demonstrating Trisus CARE in the Georgia, USA booth (#3261).

About Craneware

Craneware (AIM: CRW.L) is the market leader in software and supporting services that help healthcare providers improve margins so they can invest in quality patient outcomes. The company’s flagship solution, Chargemaster Toolkit®, has earned the KLAS No.1 ranking in Revenue Cycle – Chargemaster Management since 2006 and is part of our value cycle management suite, which includes Patient Engagement, Charge Capture & Pricing, Coding Integrity, Revenue Recovery & Retention, and Cost Analytics solutions. Learn more at craneware.com.

###

Craneware Media Contact:
b.parrish@craneware.com

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[/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section] [post_title] => Craneware Announces H1 FY18 Financial Results [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => craneware-announces-h1-fy18-financial-results [to_ping] => [pinged] => [post_modified] => 2018-06-20 16:18:00 [post_modified_gmt] => 2018-06-20 16:18:00 [post_content_filtered] => [post_parent] => 0 [guid] => https://public.craneware.com/?p=27411 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) ) [post_count] => 9 [current_post] => -1 [in_the_loop] => [post] => WP_Post Object ( [ID] => 205741 [post_author] => 2 [post_date] => 2019-01-31 12:59:27 [post_date_gmt] => 2019-01-31 12:59:27 [post_content] => [et_pb_section bb_built="1" next_background_color="#e6eaee" _builder_version="3.0.106" module_class="article-post"][et_pb_row][et_pb_column type="4_4"][et_pb_text _builder_version="3.2.2"]

ATLANTA, January 31, 2019 – Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today announced it has once again achieved the “Peer Reviewed by HFMA” designation for its Chargemaster Toolkit product.

The program’s initial survey consists of a rigorous 11-step, high-level screening process by a peer review panel consisting of current customers, prospects who have not made a purchase, and expert HFMA Peer Review members. Participants provided comments on a variety of criteria, including willingness to recommend to colleagues; enhanced productivity; smoothness of implementation; data accuracy; ease of installation; quality of sales staff; ease of use; value; and quality of technical support.

As healthcare providers evolve beyond traditional revenue cycle management to value-based economics, more than 1,500 U.S. hospitals and health systems rely on Chargemaster Toolkit to:

  • optimize reimbursement by identifying chargemaster incompleteness and inaccuracy;
  • increase operational efficiency by automating chargemaster management;
  • manage workflow based on the organization’s change-validation control processes; and
  • track interdepartmental routing, approvals, and communication to provide an accurate audit trail.

“Since Craneware introduced the industry’s first effective chargemaster management solution for U.S. healthcare in 1999, our commitment to the U.S healthcare financial industry has never wavered,” said CMO Mark Montgomery for Craneware. “Recognitions like this from such a well-respected organization as HFMA further demonstrates that Chargemaster Toolkit is the leading solution for organizations who are looking to prevent earned revenue loss.”

Craneware customers recently commented on their partnership with the company:

“We’re actually pitching Craneware to the larger health system that we just joined with because it is … It’s so easy to use.”

Heather Ryan, Financial Data Coordinator

“I felt like I developed a loyalty fairly quickly and it was based on just really good open, honest people with a lot of integrity that I was dealing with at Craneware.”

Helen Haas, MHA, Manager of Strategic Pricing & CDM

 

About Craneware

Craneware (AIM: CRW.L) is the market leader in software and supporting services that help healthcare providers improve margins so they can invest in quality patient outcomes. The company's flagship solution, Chargemaster Toolkit®, has earned the KLAS No.1 ranking in Revenue Cycle - Chargemaster Management for 12 of the past 13 years and is part of our value cycle management suite, which includes Charge Capture & Strategic Pricing, Patient Engagement, Claims Analytics, Revenue Recovery & and Retention, Cost & Margin Analytics solutions. Learn more at craneware.com.

###

Craneware Media Contact:

b.parrish@craneware.com

404-364-2150

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