EHR contracts signal continued growth in technology needs among rural, community hospitals
August 30, 2016
MOBILE, Ala.--(BUSINESS WIRE)--Aug. 30, 2016-- Healthcare technology leader CPSI (NASDAQ:CPSI) today announced that rural and community hospitals in eight states have recently selected the Company’s technology solutions. CPSI and its family of businesses are a leading provider of healthcare IT solutions and services for community hospitals and post-acute care facilities nationwide.
“We are pleased to announce that in the last three months, hospitals in Texas, Michigan, Georgia, Missouri, Louisiana, Florida, Mississippi and Pennsylvania have selected CPSI and our EHR solutions to address the unique needs of their patients and the rural communities they serve,” said Boyd Douglas, president and chief executive officer of CPSI.
One of the new customers, Peggy Moore, director of operations at Campbellton-Graceville Hospital in Florida, said her organization’s choice of CPSI’s Evident EHR was strongly influenced by CPSI’s deep experience with rural and community hospitals. Moore noted her hospital’s selection of CPSI was made easier because staff members working at surrounding hospitals with CPSI technology endorsed the changeover.
Moore said, “We needed a comprehensive EHR where patient data would meet the tough compliance requirements in our state. This solution will mean total peace of mind for us. When auditors come in, we can pull reports and data on demand, while improving our patient data across our entire operation.”
Douglas added, “CPSI solutions are taking hold across the country because we do not take a ‘one size fits all’ approach with our customers. We are their partner, providing them with tailored solutions that meet the special needs and challenges facing rural and community hospitals, both now and into the future.”
Douglas said an example of the Company’s dedication to small hospitals is CPSI’s recent announcement of a partnership with Caravan Health to help hospitals develop clinical practices and infrastructure to navigate complex value-based reimbursement requirements. The trend in healthcare delivery and reimbursement is and will continue to be measured by improved healthcare outcomes, the quality of healthcare provided, and the ability to keep people healthy through preventive care and patient engagement.
Douglas added, “As this correlation continues to take hold, it is important that we help our clients understand how they can be successful in this value-based healthcare model. Our philosophy is to be more than a technology provider; we will be a true partner and trusted advisor to improve community healthcare in rural communities.”
Marc Augsburger, president and chief executive officer of Caro Community Hospital in Caro, Michigan, said his hospital’s thorough review of technology systems led them to CPSI, in part because CPSI has an excellent understanding of how rural hospitals need to operate as an important asset to the community.
“We see them as a partner for the future of healthcare in our community,” Augsburger said. “There is a direct link between technology and quality of care.”
According to Douglas, more than 1,300 facilities nationwide employ CPSI technology solutions, including its Electronic Health Record (EHR) – one system, one patient record across the care continuum, plus its complete financial and revenue cycle management solution set to help hospitals better manage financial operations and reporting all while improving cash flow.
Evident is a leading provider of patient centered and community focused electronic health record systems for more than 650 community hospitals and their 12,000 providers. The Company is dedicated to meeting the ever-changing needs of health IT, while optimizing the quality of care for communities in the United States and Canada. Thrive, Evident’s health information solution, is a complete information and patient care system from business office to bedside combined with comprehensive implementation and training services. Thrive offers a seamless user experience and advanced workflows that make it an integral part of delivering quality patient care. LikeMind, the Company’s unique collaborative support model for Thrive, delivers proactive service from its staff of healthcare and business professionals who understand the challenges its customers face and share their dedication to quality healthcare. For more information, visit www.evident.com.
CPSI is a leading provider of healthcare IT solutions and services for community hospitals and post-acute care facilities. Founded in 1979, CPSI is the parent of five companies – Evident, LLC, TruBridge, LLC, Healthland Inc., American HealthTech, Inc., and Rycan Technologies, Inc. Our combined companies are focused on helping improve the health of the communities we serve, connecting communities for a better patient care experience, and improving the financial operations of our customers. Evident provides comprehensive EHR solutions and services for community hospitals. TruBridge focuses exclusively on providing business, consulting, and managed IT services to community healthcare organizations, regardless of their IT vendor. Healthland provides integrated technology solutions and services to small rural and critical access hospitals. American HealthTech is one of the nation’s largest providers of financial and clinical technology solutions and services for post-acute care facilities. Rycan provides revenue cycle management workflow and automation software to hospitals, healthcare systems, and skilled nursing organizations. For more information, visit www.cpsi.com, www.evident.com, www.trubridge.com, www.healthland.com, www.healthtech.com, or www.rycan.com
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified generally by the use of forward-looking terminology and words such as "expects," "anticipates," "estimates," "believes," "predicts," "intends," "plans," "potential," "may," "continue," "should," "will" and words of comparable meaning. Without limiting the generality of the preceding statement, all statements in this press release relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and future financial results are forward-looking statements. We caution investors that any such forward-looking statements are only predictions and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause actual results to differ materially from those projected in the forward-looking statements. Such factors may include: overall business and economic conditions affecting the healthcare industry, including the potential effects of the federal healthcare reform legislation enacted in 2010, and implementing regulations, on the businesses of our hospital customers; government regulation of our products and services and the healthcare and health insurance industries, including changes in healthcare policy affecting Medicare and Medicaid reimbursement rates and qualifying technological standards; changes in customer purchasing priorities, capital expenditures and demand for information technology systems; saturation of our target market and hospital consolidations; general economic conditions, including changes in the financial and credit markets that may affect the availability and cost of credit to us or our customers; our substantial indebtedness, and our ability to incur additional indebtedness in the future; our inability to generate sufficient cash in order to meet our debt service obligations; restrictions on our current and future operations because of the terms of our senior secured credit facilities; market risks related to interest rate changes; our ability to successfully integrate the businesses of Healthland, American HealthTech and Rycan with our business and the inherent risks associated with any potential future acquisitions; competition with companies that have greater financial, technical and marketing resources than we have; failure to develop new or enhance current technology and products in response to market demands; failure of our products to function properly resulting in claims for losses; breaches of security and viruses in our systems resulting in customer claims against us and harm to our reputation; failure to maintain customer satisfaction through new product releases or enhancements free of undetected errors or problems; interruptions in our power supply and/or telecommunications capabilities, including those caused by natural disaster; our ability to attract and retain qualified customer service and support personnel; failure to properly manage growth in new markets we may enter; misappropriation of our intellectual property rights and potential intellectual property claims and litigation against us; changes in accounting principles generally accepted in the United States; fluctuations in quarterly financial performance due to, among other factors, timing of customer installations; and other risk factors described from time to time in our public releases and reports filed with the Securities and Exchange Commission, including, but not limited to, our most recent Annual Report on Form 10-K. We also caution investors that the forward-looking information described herein represents our outlook only as of this date, and we undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160830005176/en/
Tracey Schroeder, 612-787-3125
Chief Marketing Officer