Edinburgh-based Craneware, a software firm that specializes in the US healthcare market, said its revenue increased 11% to $49.8 million and profit before tax increased by 10% to $13.9 million in the year to June 30.
But Craneware warned in its overview of the year: “While the need to address the healthcare requirements of an ageing population grows more urgent, the growing cost of US healthcare is unsustainable.
“Hospital operating margins continue to be under pressure and there is still significant waste and inefficiency in the system …
“While hospital leadership teams are focusing on controlling costs and increasing levels of care, consumers are facing ever increasing out-of-pocket costs as the healthcare model shifts a significant proportion of the payment responsibility to the patient, via high deductible plans.”
Craneware chairman George Elliott said the firm’s services spanned the breadth of the US healthcare provider landscape, from the smaller rural hospitals to multi-hospital groups.
“Sales across all strata were strong in the year and it was particularly pleasing to see two significant sales successes into two large hospital groups,” said Elliott.
“These $7.5 million and $8 million contracts demonstrate the value and importance these groups attribute to the Craneware software solutions in assisting them to protect their operating margins while delivering improved outcomes for all.
“The US healthcare market continues to evolve as predicted towards value-based care.
“The group’s strategy is to expand its offerings, providing deeper insight into a broad range of a hospital’s operations, analysing and managing data from across the organisation.
“Our solutions will enable providers to improve margins and enhance patient outcomes so the hospitals can provide quality care to their communities.
“To achieve this, we will continue to utilise a combination of in-house development expertise, partnerships and targeted acquisitions to expand our offering.”