NEW YORK--(BUSINESS WIRE)--SCWorx Corp (NASDAQ: WORX) today announced the signing of a $1,800,000 service contract with a highly respected northern New Jersey hospital. Initially, under a 5-year fixed-term agreement, SCWorx is licensing the hospital its data governance and analytics suite of application solutions as the foundation of what will become a robust array of services providing full transparency into the major cost drivers across the enterprise.
Marc Schessel, founder and CEO of SCWorx said, “We are delighted to have one of the most advanced university medical centers choose our platform to help facilitate and drive normalized data throughout their enterprise systems. The results of this effort will be to reduce the cost of delivered care, enhance margins and increase patient safety. I believe that it was our team’s experience and commitment in delivering accurate and automated data management services to healthcare providers that ultimately made the decision for this healthcare provider to partner with SCWorx and complete this critical component of their expansive strategy. We look forward to a long and mutually beneficial relationship. Our experience will greatly benefit the hospital through enhanced efficiency, critical system interoperability, sustained long-term savings and auditable margin improvement.”
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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