CALGARY, AB, Nov. 24, 2022 /CNW/ – Comprehensive Healthcare Systems Inc., (TSXV: CHS) (the “Company” or “CHS”), an industry leader in healthcare benefits administration software and services, is pleased to announce the strengthening of its Novus 360 software client portfolio, by signing a multi-year extension with an existing Taft Hartley Union in the Midwestern United States. This client will be utilizing CHS’s Novus 360 platform, leveraging the benefits, claims management, and pension fund capabilities to streamline how they manage their customers, members, and retirees.
Under the leadership of Chris Cosgrove, Chief Executive Officer, CHS has built out its industry-leading Novus 360 Benefits Administration Platform, designed to leverage software to digitize and automate the benefits management continuum. A multi-year agreement worth over USD 850,000 (approximately C$1,100,000) with the potential to grow, the retention and migration of the Midwestern Based Taft-Hartley Union to the new Novus 360 platform reaffirms the value of its solution for firms in need of servicing self-funded benefits programs. As a second strategic priority, CHS has been employing a new client implementation methodology to increase the speed at which CHS can deploy its cloud-based benefits administration software for clients. CHS’s accelerated implementation model is designed to have clients live in as little as three months.
Mr. Cosgrove commented: “We are excited to expand the footprint of our Novus 360 platform with a reputable Taft-Hartley Union in the Midwest. Our benefits administration solution will enable this Client to better process claims, billing, and eligibility for their 10,000 members. In addition, our new implementation methodology will ensure the client’s workflow redesign will go live between 3-6 months. Ensuring client success and providing speed to value is critical in Healthcare Technology. We are excited as we partner and provide a definite win for our client.”
About Comprehensive Healthcare Systems Inc.
Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, TPA, Price Transparency, Medical Management, and PBM services, all providing reliable and high-volume transaction-capable systems. The Company’s state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including insurance companies, employers, hospitals, doctors, and labor unions, through various corporations in which the majority shareholder has controlling ownership), providing healthcare administrative software, and technology-enabled services.
This press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could, ” “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Examples of forward-looking statements in this news release include the potential for the multi-year client retention agreement to grow. These forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Additionally, known and unknown risk factors could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, among others: general economic, market, and business conditions in Canada and globally; market volatility; unforeseen delays in the timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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SOURCE Comprehensive Healthcare Systems Inc.
For further information: COMPREHENSIVE HEALTHCARE SYSTEMS INC.: Toni Haugh, Chief Marketing Officer, E-mail: [email protected], Phone: 646-905-1299