Founded in 1999, Craneware’s mission is to stop the loss of legitimate revenue owed to healthcare organizations by establishing a culture of revenue integrity within these organizations. Our vision is to be the partner that can be relied on to improve and sustain our customers’ strong financial performance.
Over our history we have come a long way towards achieving this. Today, Craneware has a total of nine core products, spanning four product families: Revenue Cycle, Access Management & Strategic Pricing, Supply Management and Audit & Revenue Recovery. One in four registered U.S. hospitals has chosen Craneware products to help them optimize reimbursement, improve operational efficiency, and minimize compliance risk. To support this growing client base and the company’s future growth prospects, Craneware now employs more than 200 professionals across the US and UK.
Craneware’s Growing Marketplace
In 2012 total US healthcare expenditure is expected to exceed $3 trillion, and with an anticipated 4% growth per annum, it will rapidly approach a projected 20% of US GDP by 2017. This vast and complex market produces immense amounts of data, which need to be analyzed in order to understand and bring some control to this unsustainable growth.
The need for continued innovation in this changing environment drives Craneware’s growth. By providing the tools to normalize data across disparate areas of the hospital and remaining agnostic to data formats and other vendors, Craneware gives the power to take a step back and provide a holistic view identifying areas of productivity improvement, inefficiencies and errors.
Craneware’s Market Leadership
At the center of a hospital’s revenue cycle is its chargemaster: its register of all procedures that can be performed by the provider. In 1999, Craneware introduced the world’s first automated chargemaster management software. Today Chargemaster Toolkit® (CMT) continues to lead the industry, ranking #1 in the Revenue Cycle – Chargemaster Management market category for nine years in a row by KLAS. Our Bill Analyzer software was ranked #1 in its market category for four years in a row (Revenue Cycle – Charge Capture 2013 – 2014 and Revenue Cycle – Other 2011 – 2012). KLAS, the industry standard in customer satisfaction reporting, found that 96% of CMT users “would buy Craneware products again… and would recommend them to their colleagues.”
In addition, Chargemaster Toolkit, Online Reference Toolkit®, Interface Scripting Module, and Bill Analyzer have all achieved Peer Reviewed status for the last eight years from HFMA (Healthcare Financial Management Association), one of the most highly respected associations in the industry. From this industry recognition to the enthusiastic participation at our user group meetings, from our speaking engagements before national audiences to our partnerships with leading group purchasing organizations, Craneware is an established industry leader.