September 19, 2017
JACKSON, Ala.--(BUSINESS WIRE)--Sep. 19, 2017-- Evident LLC, a wholly owned subsidiary of CPSI (NASDAQ: CPSI) and a leading provider of electronic health record (EHR) systems and services, announced today that Jackson Medical Center, a 35-bed acute care facility located in Jackson, Alabama, recently selected Thrive, Evident’s EHR solution, to replace their existing EHR system. The Alabama-based hospital is now live on nearly the entire suite of Evident products, including the EHR for hospital, financials and ancillary needs.
For Jackson, a subsidiary of Gilliard Health Service, Inc., the decision to switch back to Evident and leverage their complete EHR solution was a financial one, as collections had dropped around 75 percent under their previous vendor. According to Tom McLendon, chief operating officer for Gilliard Health Services, this drastic change in collections was something Jackson couldn’t sustain.
“We went almost six months going from $600 to $700,000 a month in cash flow to $100 to $150,000 a month in cash flow,” McLendon said. “A facility of our size would have difficulty maintaining hospital operations with this type of revenue shift.”
In addition to having prior experience with Thrive at Jackson, located about 60 miles north of Mobile, sister location Evergreen Medical Center in Evergreen, Alabama, has been an Evident client for about 25 years, solidifying their decision to return to Thrive.
McLendon added that returning to Thrive was a positive experience for his staff. “It was a fairly easy transition,” said McLendon. “The Evident training and support team wanted this to be easy for us with minimal disruption for our staff. They bent over backwards to get everything we needed done in a timely manner.”
“We are pleased to renew our partnership with Jackson Medical Center with the implementation of our Thrive EHR solution,” said Boyd Douglas, president and chief executive officer of CPSI. “We understand how important it is for rural providers to have both successful financial and patient outcomes as they work to remain viable, and we will work tirelessly to ensure they have a positive impact on the communities they serve.”
CPSI is a leading provider of healthcare solutions and services for community hospitals plus other healthcare systems and post-acute care facilities. Founded in 1979, CPSI is the parent of four companies – Evident, LLC, TruBridge, LLC, Healthland Inc., and American HealthTech, 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 on providing business, consulting, and managed IT services along with their RCM product, Rycan, providing revenue cycle management workflow and automation software to hospitals, other healthcare systems, and skilled nursing organizations. 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. For more information, visit www.cpsi.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/20170919005328/en/
Tracey Schroeder, 612-787-3125
Chief Marketing Officer