ATLANTA, March 6, 2018 /PRNewswire/ -- Craneware (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)
- Adjusted EBITDA refers to earnings before interest, tax,
depreciation, amortization, share based payments and acquisition
and share transaction related costs.
Operational Highlights
- Two significant contracts secured in the half, with two
additional announced post period end
- Increasing market engagement with 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 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 leading
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. 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.
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SOURCE Craneware