Custom Search
Craneware to ride out storm
Wednesday 11th January 2012
Courtesy:http://stoptheleakage.com/Home.aspx
Software house Craneware Inc despite having its Bill Analyzer solution was named #1 in the Revenue Cycle - and its Chargemaster Toolkit ranked first in the Revenue Cycle Chargemaster Management market category for the sixth consecutive year in the "2011 Best in KLAS Awards: Software & Services" report, is having to ride out the storm when when its trading update for the six months to December 31, 2011 predicted revenue increase by more than 12% from the $16.6m reported the previous year, only to produce earnings before interest, tax, depreciation and amortisation (EBITDA) likely to be flat at around $4.6m.
EBITDA was impacted by last year's February Claim Trust acquisition for $15m, dragged the figure downby $700,000 after a third party using Craneware software lost a major contract. However, it seems the new winner of the contract may now also use Craneware software and the company has topically started a Stoptheleakage Blog " inviting others to join as thousands of dollars are lost daily due to problems with pricing, charging, coding and other business process issues"
Craneware CEO Keith Neilson was reported "bullish" by The Herald, expecting big growth in the second half. "We expect to see sales cycles settling down into a more normal pattern and we fully expect earnings and EBITDA to accelerate in the second half of the year. "
He added, "The integration of Insight (Claims Trust) is also "well advanced", with new products being developed."
© Compute Scotland 2010
Website : beachshore