Community Healthcare Experience and Commitment Prove Important to Decisions for Small, Rural Hospitals
October 19, 2017
MOBILE, Ala.--(BUSINESS WIRE)--Oct. 19, 2017-- CPSI (NASDAQ: CPSI), the parent company of the leading provider of electronic health record (EHR) systems and services for community hospitals, announced today that Liberty Regional Medical Center and Veterans Memorial Hospital recently made the decision to return to CPSI for Evident’s Thrive EHR solution, after having signed with another company for their respective EHR software and services.
Liberty Regional Medical Center, a 25-bed, Critical Access Hospital based in Hinesville, Georgia, had been an Evident client since 1999, and quickly discovered that Evident has the depth and functionality needed to perform at the level they wanted.
“Once we did a formal SWOT analysis of the Thrive EHR system and workflows, we realized there were pieces we weren’t using to their full potential. Without the major disruption of a system change, we were able to enhance the system to provide more than what we thought we would gain with a switch,” said Michael Hester, chief executive officer of Liberty Regional Medical Center. “We just felt comfortable knowing that Evident has been around for over 35 years and has a large base of small hospitals like ours.”
Hester also said that his experience with the CPSI leadership has been second to none. “There’s something different about having an executive team who is passionate about keeping you as a customer,” said Hester. “They’ve always been there for us, which we think is unusual for a big company.”
Veterans Memorial Hospital, based in Waukon, Iowa, began their journey to Evident when they realized that they needed to address billing concerns that materialized in a matter of months and continued to multiply.
“We couldn’t afford to let these billing issues linger, because there are too many people in our community that depend on us to remain financially viable and provide quality healthcare,” said Michael Meyers, chief executive officer of Veterans Memorial Hospital. “Once we made the shift within billing, we then set down the path of moving to the complete Thrive EHR.”
After comparing the Thrive EHR against their current solution, the Veterans Memorial team saw that Thrive’s offering exceeded what they needed from a clinical and financial perspective. Meyers concluded, “We also learned very quickly that nothing can replace the value that comes with experience, which CPSI and their family of companies clearly have in the community healthcare space. The team understood the sensitivity to our situation and prioritized accordingly with us. That type of commitment is invaluable to a small hospital like ours.”
Boyd Douglas, president and chief executive officer of CPSI, said, “We both benefit when clients return to our family of companies and solutions. These experiences create a unique opportunity to learn from each other. We are constantly working to improve our solutions in a way that makes a difference for all of our clients. When we are able to work with partners like Liberty Regional and Veterans Memorial, we can ensure their needs are met, and that rural providers just like them receive the service and support needed to make 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. 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.
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Tracey Schroeder, 251-639-8100
Chief Marketing Officer