Why Did SCWorx (WORX) Stock Rise In Extended Trades?

SCWorx Corp. (Nasdaq: WORX) has seen its stock price rise by 5.00% to $0.4622 in Tuesday’s after-hours trading session. The increase in stock price was due to the company’s recent success in winning a new healthcare customer. This is a positive development for the company as it expands its reach in the healthcare industry and potentially brings in more revenue.

What will WORX offer the new customer?

A new healthcare provider has signed up to use SCWorx’s recently launched SaaS services, SCWorx (WORX) announced this month. SCWorx’s new product offering continues to make the SCWorx data platform accessible to hospitals of all sizes. With nearly 8,000 beds under management, this new client is a private healthcare provider headquartered in Texas. The WORX solution has proven beneficial to hospitals of all sizes with difficult data management issues due to its technological advances.

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In the post-Covid era, healthcare providers are facing unprecedented challenges. Hospitals are finding that SCWorx offers a unique way to stay current with the data management issues that all hospitals face through its new service offering. A comprehensive data management solution provided by this service is not a ‘one size fits all’ solution.

Hospitals are seeking inexpensive solutions that provide the most value for money. Healthcare data is handled uniquely with WORX because it allows providers to choose their foundational service offering and then pick and choose enhanced services a la carte. Within the healthcare industry, this is a very unique approach.

The WORX team has identified two main problems hospitals face: first, their supply data is incomplete due to rapid changes in item data within the hospital. A second problem is that this data is essential to all other projects. For example, migrations of MMIS systems, mergers and acquisitions, clinical integrations with EMR systems, and financial systems all depend on accurate data.

WORX’s customer service model

With the foundational data established, WORX can assist with other high-profile projects such as cost reduction initiatives, ERP migrations, and cloud implementations like Oracle Cloud, Infor Cloud, and Workday. SCWorx (WORX) is a trusted source of truth for healthcare providers because the data within the platform is of high quality and it has a high level of expertise.

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