Agreement with US healthcare

RNS Number : 3782Q

Craneware plc

14 April 2009

 



Craneware plc

('Craneware' or the 'Company')

Craneware to Offer Financial Performance Solutions to Hospitals and Healthcare Providers through Premier, the Largest U.S. Healthcare Alliance

14 April 2009 -  Craneware plc, (AIM: CRW.L), a leader in financial improvement software solutions for the US healthcare market, announces an agreement with Premier Purchasing Partners, LP, the group purchasing unit of Premier Inc. Under the agreement, Premier Purchasing Partners will introduce pre-negotiated pricing and terms for Craneware financial performance software and services to its more than 2,100 member and client hospitals and more than 54,000 other healthcare providers. By enhancing revenue capture processes, Craneware solutions allow clients to optimise reimbursement, improve operational efficiency and support compliance.

Effective from the 1 April 2009, the 36-month agreement includes: Chargemaster Toolkit®, the original solution for management of the Charge Description Master (CDM); Online Reference Toolkit®, a Web-based tool for reducing risk by providing access to reference and regulatory resources; Bill Analyzer, software for identifying lost revenue in charge capture processes; Physician Revenue Toolkit®, software for managing a physician group's charges, codes, RVUs, fee schedules, and related information; Patient Charge Estimator™, a tool for simplifying the processes of providing charge estimates; and Pharmacy ChargeLink™, a pharmacy supply application providing an automatic connection between a hospital's pharmaceutical purchasing and billing processes.

'Premier is committed to providing our members with systems and solutions that improve quality, safety, manage risk and reduce costs,' said Mike Alkire, president of Premier Purchasing Partners. 

'We're excited about our relationship with Premier and are glad to help Premier hospitals and healthcare organisation members realise the benefits of improved financial performance,' said Craneware CEO Keith Neilson. 'The entire hospital sector continues to be under enormous pressure around both reimbursement and costs. The ease of using Craneware solutions and the quick return-on-investment are extremely valuable to Premier members as they manage these cycles in such competitive times.' 

The revenue cycle is so far-reaching that identifying opportunities and acting on them has always been a challenge for hospital administration. Continually changing regulations make it ever more complicated for clinical departments to code accurately and capture all charges. Automated revenue cycle solutions enable healthcare providers to readily identify and implement margin improvement initiatives in each phase of patient interaction.

Craneware is celebrating its 10th anniversary this year. Since 1999, more than 1,000 healthcare organisations, from small community hospitals to large health systems have chosen Craneware financial performance solutions..

For further information, please contact:

Craneware plc	KBC Peel Hunt	ICIS
[phone]	[phone]	[phone]
Keith Neilson, CEO	Jonathan Marren	Caroline Evans-Jones
Craig Preston, CFO	Richard Kauffer	Mike Smith

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 better financial and operational performance using market-driven revenue management solutions. By enhancing revenue capture processes, Craneware solutions allow those organisations to optimise reimbursement, improve operational efficiency, and support compliance.

About Premier Inc., 2006 Malcolm Baldrige National Quality Award recipient 

The Premier healthcare alliance is more than 2,100 U.S. hospitals and 54,000-plus other healthcare sites working together to improve healthcare quality and affordability. Premier maintains the nation's most comprehensive repository of clinical, financial and outcomes information and operates a leading healthcare purchasing network. A world leader in helping deliver measurable improvements in care, Premier works with the Centers for Medicare & Medicaid Services and the United Kingdom's National Health Service North West to improve hospital performance. Premier has offices in San Diego, Charlotte, N.C., Philadelphia and Washington.

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