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Bundled $400 million acquisition provides data insights to hospitals, retail pharmacies
Craneware, a provider of automated value cycle solutions to the healthcare industry, has completed the acquisition of Sentry Data Systems, Inc., a 340B pharmacy administrator that uses its platform to simplify the complexities of pharmacy procurement, use and compliance, and its sister company Agilum Healthcare Intelligence, a pharmacy and financial analytics business that uses real-world data to provide objective evidence for hospitals, life sciences companies and payers.
As a result of this acquisition, Craneware now serves close to 40% of US hospitals and more than 10,000 clinics and retail pharmacies across the major pharmacy brands, along with local community pharmacies and clinics. With help from both companies, Craneware, executives say, will be able to provide actionable insights for better operational and strategic decisions, which can help enable additional productivities in provider performance.
"Faced with increasing pressure to better manage costs and improve patient outcomes, US 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," says Craneware CEO Keith Neilson. "... These complementary additions provide healthcare organizations with innovative new ways to measurably impact operational and financial performance."
Craneware's Pharmacy ChargeLink solution helps US healthcare providers verify that administered hospital medications are accurately coded, billed and reimbursed. To do so, 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.