Source: Beamtree
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Beamtree (BMT) signs a US$7 million (A$10.1 million) five-year contract with Ampath for its RippleDown software
  • RippleDown is Beamtree’s proprietary software that automates the clinical and administrative process by reducing the time pathologists spend reading results
  • This partnership follows a successful proof-of-concept pilot trial that examined how RippleDown can help Ampath laboratories drive better healthcare services
  • While the contract is for a five-year term, there is an option for termination after two years by giving three months notice
  • Beamtree is up 17.7 per cent with shares trading at 30 cents

Beamtree (BMT) has signed a US$7 million (A$10.1 million) five-year contract with Ampath for its RippleDown software.

RippleDown is Beamtree’s proprietary software that automates the clinical and administrative process in healthcare settings.

It reduces the time pathologists spend reading test results and improves the quality of data entry to drive financial efficiency.

It consists of RippleDown Expert that automatically generates patient reports and RippleDown Auditor that ensures healthcare claims are accurate.

This partnership follows a successful proof-of-concept pilot trial that examined how RippleDown can help Ampath laboratories drive better healthcare services.

The trial showed that RippleDown Expert could automate up to 90 per cent of clinical interpretations, providing an estimated saving of more than 6000 hours per year of manual work.

While the contract is for a five-year term, there is an option for termination after two years by giving three months notice.

“We look forward to working with Ampath and demonstrating the value of RippleDown to enhance quality, safety, accuracy and insight in pathology,” CEO Tim Kelsey said.

“We share Ampath’s passion for improving healthcare internationally. RippleDown is the world’s leading platform for automation of human expertise and is now operating in more than 20 countries.”

Beamtree was up 17.7 per cent with shares trading at 30 cents at 12:31 pm AEST.

BMT by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…