SCWorx Corp (NASDAQ: WORX) today announced the signing of a new agreement with a 448 bed New York-based single standing university medical center. The $649,000 agreement to provide data management services is initially for a three-year term with annual extensions upon mutual written agreement of the parties.
Marc Schessel, CEO of SCWorx commented: This award is especially gratifying to us at SCWorx as this medical center had only limited funds to use to enhance its business system infrastructure and has significant goals in terms of margin improvement “ as such the medical center performed one of the most in-depth due diligence that we have ever experienced. The fact that ultimately the account chose not only our base data management service, but our advanced interoperability systems is, we believe, additional proof that our suite of automated management services provides the solutions that finance professionals find critically valuable. Our company, being Provider-centric, can solve the complex systems integration issues that are blocking them from achieving a more stable and efficient business platform.
The Company does not expect to incur any significant additional overhead resulting from this contract and anticipates procuring new contracts for its software by numerous other healthcare providers in the foreseeable future.
SCWorx offers an advanced software solution for the management of health care providers foundational business applications. Together these software systems have been credited with the healthcare providers customers tending to realize reduced medical expenses, while healthcare providers have tended to experience expanded revenues and more successful and safer clinical outcomes. The SCWorx software solution ultimately transforms many aspects of the healthcare providers business through its delivery of highly accurate, real-time information that offers the executives of these healthcare providers the ability to optimize many areas of their day-to-day operations, negotiate better contracts with their vendors and payors and make better decisions with respect to strategic purchases.
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John Price, CFO