September 10, 2018
MOBILE, Ala.--(BUSINESS WIRE)--Sep. 10, 2018-- 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 Jamestown Regional Medical Center, a Rennova Health Company, has selected their Thrive EHR solution, along with revenue cycle management (RCM) and cloud hosting offered through sister company, TruBridge. The Tennessee-based healthcare facility is expected to go live with all offerings in December.
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Jamestown Regional Medical Center, an 85-bed hospital located 65 miles northwest of Knoxville, was acquired by Rennova Health in early 2018. This recent shift in ownership prompted the healthcare facility to re-evaluate their technology needs and address their ongoing challenge of using multiple, disparate systems to run their operations. Once live, the facility will utilize the complete Thrive hospital and clinic EHR to support its clinical and financial operations. Additionally, Jamestown Regional Medical Center will implement the complete set of RCM products and services as well as cloud hosting offered through TruBridge. The RCM solution set will help the hospital maximize revenue and improve cash flow in part through more efficient insurance claim and reimbursement processes.
“It was clear to us that we needed one complete and fully integrated EHR system that could connect patient clinical and financial data across all points of care, including emergency room, inpatient and the clinic environments,” said Lynette Pritchett Evans, chief executive officer of Jamestown Regional Medical Center. “Having one comprehensive EHR will create greater efficiency and accuracy in retrieving patient information, saving our staff valuable time and offering the patients we serve a better quality experience. It’s exciting to have a system that gives us these much needed capabilities to manage care in our community.”
Boyd Douglas, president and chief executive officer of CPSI, said, “Our continued success in community healthcare comes from our deep understanding of the critical need to support patient care across various care settings. We are confident that the capabilities the Thrive EHR offers along with complementary solutions through TruBridge will ensure the success of Jamestown Regional Medical Center, both in financial sustainability and the quality of care offered to the patients and communities they serve.”
CPSI is a leading provider of healthcare solutions and services for community hospitals, their clinics and post-acute care facilities. Founded in 1979, CPSI is the parent of three companies – Evident, LLC, TruBridge, LLC 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 for community hospitals and their affiliated clinics. American HealthTech is one of the nation’s largest providers of EHR solutions and services for post-acute care facilities. TruBridge focuses on providing business, consulting and managed IT services, along with its complete RCM solution for all care settings. 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, leverage ratio, margins, costs, expenditures, cash flows, growth rates,the Company’s level of recurring and non-recurring revenue and backlog, the Company’s shareholder returns 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 affectingMedicareandMedicaidreimbursement 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 potential 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 technology and products in response to market demands; failure of our products to function properly resulting in claims for medical and other 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 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 inthe United States of America; significant charge to earnings if our goodwill or intangible assets become impaired; 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 theSecurities and Exchange Commission, including, but not limited to, our most recent Annual Report on Form 10-K. Relative to our dividend policy, the payment of cash dividends is subject to the discretion of our Board of Directors and will be determined in light of then-current conditions, including our earnings, our leverage, our operations, our financial conditions, our capital requirements and other factors deemed relevant by our Board of Directors. In the future, our Board of Directors may change our dividend policy, including the frequency or amount of any dividend, in light of then-existing conditions. 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.
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