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Craneware and Premier Provide Visibility Into Chargeable Supplies

Thursday, April 22, 2010 General News J E 4
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Craneware expands relationship with Premier in deal valued at $15 million

ATLANTA, April 21 /PRNewswire-FirstCall/ -- Craneware, Inc. (AIM: CRW.L), the market leader in automated revenue integrity solutions that improve healthcare providers' financial performance, today announced an expanded relationship with the Premier healthcare alliance. The new deal between Craneware and Premier is a five-year reseller agreement, with a minimum value of $15 million. Under the agreement, Premier will offer Craneware's Revenue Integrity Solutions™ to its 2,300 not-for-profit hospital alliance members, providing them a way to reduce revenue leakage, operate more efficiently and manage compliance.

As part of the agreement, Craneware will also market Premier Consulting Solutions™, which help hospitals reduce costs, increase margins and improve quality. As a result, the partnership will provide an even stronger return on investment for hospitals looking to increase cash flow and reduce compliance risks.

"Together, Craneware and Premier help hospitals achieve financial stability, while reducing costs and compliance risks," said Keith Neilson, CEO of Craneware. "Premier's proven results and high-quality expertise complement Craneware's industry-ranked revenue integrity solutions in a way that is enabling U.S. healthcare providers to improve their financial performance."

As part of the agreement, Premier will resell Craneware's newest solution, Supplies ChargeLink™. The solution establishes and maintains a dynamic link between a hospital's supply purchase history and its chargemaster, helping ensure accurate pricing, coding and billing of chargeable supplies for optimal reimbursement.

"Premier recognizes that hospitals may have revenue leakage stemming from their reimbursable supplies that is not addressed by existing technology solutions," said Wes Champion, Senior Vice President of Premier Consulting Solutions. "Craneware's latest offering coupled with Premier Consulting Solutions will help our members ensure the money they spend on drugs and chargeable supplies is reimbursed, assisting them with managing costs and driving overall financial improvement."

Today, more than 1,000 U.S. provider organizations use Craneware solutions to proactively identify and prevent revenue leakage. Craneware's Revenue Integrity Solutions consist of three product families: Revenue Cycle, Strategic Pricing and Supply Management.

Craneware's Revenue Cycle product family includes Chargemaster Toolkit, which automates the chargemaster maintenance process, has ranked No. 1 in the Revenue Cycle - Chargemaster Management market category in the "Top 20 Best in KLAS Awards" report for four consecutive years and is Peer Reviewed by HFMA®. KLAS is the leading source of healthcare information technology vendor performance metrics.

View the social media release at http://pitch.pe/58922.

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

The Premier healthcare alliance is more than 2,300 U.S. hospitals and 66,000-plus other healthcare sites working together to improve healthcare quality and affordability. Owned by not-for-profit hospitals, 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. Headquartered in Charlotte, N.C., Premier also has offices in San Diego, Philadelphia and Washington. Follow Premier on Twitter.

About Craneware

Craneware (AIM: CRW.L) is the leader in automated revenue integrity solutions that improve financial performance for healthcare organizations. Craneware's market-driven, SaaS solutions help hospitals and other healthcare providers more effectively price, charge and code for services and supplies associated with patient care. This optimizes reimbursement, increases operational efficiency and minimizes compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com.

SOURCE Craneware, Inc.

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