Combined offering provides hospitals and affiliated retail pharmacies with transformational data insights used to create new models of healthcare delivery
Craneware (AIM: CRW.L), the healthcare market leader in automated value cycle solutions, today announced it has successfully completed the acquisition of Sentry Data Systems, Inc., the nation’s leader in pharmacy procurement, compliance and utilization management and Agilum Healthcare Intelligence, an innovative pharmacy and financial analytics company focused on utilizing real-world data to deliver objective evidence for hospitals, life sciences companies and payers.
As a result of this acquisition, Craneware now serves nearly 40 percent of U.S. hospitals and more than 10,000 clinics and retail pharmacies across all the major pharmacy brands as well as local community pharmacies and clinics. With the quality and extent of the combined solutions from both companies, Craneware will deliver far-reaching actionable insights for better operational and strategic decisions, enabling further efficiencies in provider performance so they can focus on serving their communities and healthcare missions.
“Faced with increasing pressure to better manage costs and improve patient outcomes, U.S. healthcare providers must effectively use automation to generate actionable insights that enhance operational efficiency and compliance resulting in sustainable margins that can be re-invested in providing better care for those who are in need,” said Craneware CEO Keith Neilson. “We’re thrilled to add the healthcare industry’s leading 340B platform along with end-to-end compliance and performance improvement software to our robust value cycle solutions suite. These complementary additions provide healthcare organizations with innovative new ways to measurably impact operational and financial performance.”
Neilson continued, “Sentry Data Systems shares our core values and unwavering commitment to serve the U.S. healthcare market. This acquisition presents a tremendous opportunity for us to work together to transform the business of healthcare.”
Craneware’s Pharmacy ChargeLink solution helps U.S. healthcare providers ensure that administered hospital medications are accurately coded, billed and reimbursed at an optimal level. Business algorithms compare units purchased with the volume billed and reimbursed to help organizations more quickly identify charge capture problems and better manage potential compliance risks.
Thousands of hospitals and care locations across the country rely on Sentry’s integrated platform to simplify the complexities of pharmacy procurement, utilization and compliance. As a result, these organizations are able to capture more revenue through advanced NDC mapping and flexible configuration options that optimize existing business processes and meet 340B program requirements.
“I’m excited that Sentry will now be part of Craneware to continue the mission of improving healthcare quality and reducing the total cost of care,” said Travis Leonardi, RPh, CEO of Sentry Data Systems. “The combined Sentry and Craneware organization represents a powerful opportunity to truly impact healthcare in a meaningful way by building upon our solid foundation of leading talent, innovative technologies and proven reputation across the spectrum of care.”
The value cycle is the environment where healthcare providers seize every opportunity to achieve the best outcome for the best cost. This is accomplished through optimization of clinical, operational and financial functions so margins are protected and grown to support a healthcare provider’s mission to provide quality care to their communities.
About Sentry Data Systems, Inc.
Sentry Data Systems, Inc. is a pioneer in providing technology solutions that help healthcare providers address their three biggest challenges: reducing total cost of care, managing compliance and producing better quality. Thousands of hospitals and care locations across the country rely on Sentry’s integrated platform for their solutions, which provide decision support for millions of unique patients and have helped hospital systems and IDNs realize billions of dollars in documented savings.
About Agilum Healthcare Intelligence
Agilum Healthcare Intelligence is an innovative pharmacy and financial analytics company focused on utilizing real-world data to deliver objective, real-world evidence for hospitals, life sciences companies and payers. Our proprietary CRCATM (Comparative Rapid Cycle Analytics®) P&T solution leverages a revolutionary longitudinal census population database to help healthcare leaders make more informed formulary decisions that reduce costs and improve quality of care, while our advanced Service Line Costing & Profitability platform enables insights within the healthcare organization to help manage profitability, boost departmental efficiency and optimize revenues. Our goal is simple: to drive better outcomes while leading the transition to value-based care. Visit agilum.com.
Craneware (AIM: CRW.L), the leader in automated value cycle solutions, collaborates with U.S. healthcare providers to plan, execute and monitor financial and operational performance so they can continue to drive better outcomes for the communities they serve. Craneware’s Trisus platform combines revenue integrity, cost management and decision enablement into a single SaaS-based platform. Our flagship solution, Chargemaster Toolkit®, continually earns KLAS recognition in the Revenue Cycle – Chargemaster Management category and is part of our value cycle management suite, which includes charge capture, strategic pricing, claims analytics, patient engagement, revenue recovery and retention, and cost and margin intelligence solutions. Learn more at craneware.com.
This post is related to:340B