GRAND RAPIDS, Mich., October 25, 2019 (Newswire.com) – SpendMend, the leading provider of cost cycle recovery solutions in the healthcare industry, today announced record Q3 revenues in 2019 with the month of September 2019 leading the way and setting the company’s high-water mark for monthly revenue posting a 51% increase over September 2018.
During the quarter, SpendMend added 16 new Integrated Delivery Networks (IDN’s) to its list of clients, included 3 of the country’s Top 10 IDNs – based on Net Patient Revenue. The acquisition of 3 Top 10 accounts marks the most Top 10 accounts ever closed in a single quarter by the company.
“Of our 16 new clients in Q3, 8 of them came through client referrals.” Chief Sales Officer of SpendMend, Al Brander explains, “This level of client confidence and support is a strong statement about the overall value we deliver as well as our high level of customer satisfaction.”
Q3 2019 revealed another positive trend for SpendMend. Prior to the quarter, many new clients initiated their engagement with SpendMend through the recovery auditing solution then expanded into additional SpendMend solutions over time. Q3 showed a strong trend of new clients signing initial contracts across the full suite of SpendMend solutions. The quarter generated large new client contracts across all six SpendMend Solutions and even more impressive is that 31% of new clients contracted with multiple SpendMend solutions.
SpendMend, is the leading provider of cost cycle recovery solutions in the healthcare industry. Our goal is to provide enhanced visibility into the procure-to-pay cycle while leveraging our in-depth industry expertise, gathered over twenty-five years of serving the industry, to identify the root cause of financial leakage and provide actionable insights to help hospitals and health systems prevent profit loss.
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