Craneware’s Year-End Revenue Rises 1%, But Profits Dip

In the year ended June 30, healthcare revenue cycle management firm Craneware posted a 1 percent increase in revenue to $41.5 million, but profit before tax decreased 5 percent to $10.6 million.

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Keith Neilson, CEO of Craneware, said in a news release that despite the dip in profit, sales at the company continued to progress. “Overall group revenue reported in the year was marginally ahead of that of last year, masking the steady growth through the year in sales to individual hospitals, which was very encouraging and a reflection of the more stable trading environment,” he said. “We are confident Craneware has the platform to deliver increased shareholder value in the years ahead.”

According to a BBC report, Craneware, based in Scotland, conducts business with roughly a quarter of all U.S. hospitals and providers.

More Articles on Craneware:
5 Steps for Hospitals to Create a Rational Pricing Structure
How St. Joseph Healthcare in Maine Recouped $153k Through the Revenue Cycle
3 Things Hospitals Should Do to Prepare for Medicare RAC Complex Reviews

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