CPSI Launches Rural ACOs in Partnership with Caravan Health
January 09 2017 - 10:00AM
Business Wire
Innovative Program to Help Rural Providers Transition to
Value-Based Care
Healthcare solutions leader CPSI (NASDAQ: CPSI) today announced
the creation of the CPSI Rural Accountable Care Organizations
(“ACOs”) in partnership with Caravan Health. CPSI and its family of
businesses are a leading provider of healthcare solutions for
community hospitals and post-acute care facilities nationwide. CPSI
now brings its leadership and experience to the value-based care
arena through a strategic partnership with Caravan Health, the
market leader in rural ACOs and value-based payments.
“We are excited to bring this new, innovative ACO offering to
all rural community hospitals and their affiliated and employed
physicians, regardless of which EHR they use,” said Boyd Douglas,
president and chief executive officer of CPSI. “Finding the right
partner to bring the CPSI Rural ACOs to fruition was vital to the
success of our clients. Caravan Health has a proven track record in
the rural ACO space with 23 successful Medicare Shared Savings
Programs in 32 states. This partnership allows us to address the
specific needs rural providers face as they begin their transition
to value-based care.”
Lynn Barr, chief executive officer of Caravan Health, sees the
benefits of the CPSI Rural ACOs. “Over the years, CPSI has shown
that they understand the sense of pride a community has in its
hospital,” said Barr. “They also know the unique challenges that
providers must overcome on their path to providing value-based
care. We are proud to be partnering with CPSI to bring this great
opportunity to the community marketplace.”
Douglas added, “In talking with customers, we have found that
the largest barrier they are facing is finding resources needed to
participate in an ACO. With CPSI Rural ACOs, not only are we able
to minimize the up-front costs while maximizing revenue under the
value-based care model, but we will also provide our customers with
the tailored tools and training needed to transform healthcare
delivery in their communities. CPSI will support up to 20 new rural
ACOs with up to 200 rural health systems across the country.”
According to data published in 2015 by the Centers for Medicare
& Medicaid Services, Caravan Health achieved shared savings
257% greater than the national average with an aggregate quality
score of 96.8%. This was accomplished through the passion of
rural providers for their communities, combined with the
infrastructure and tools needed for rural facilities to be
successful in the ACO setting. The Caravan Health program allows
physicians to focus on treating their patients instead of dealing
with administrative paperwork. When this program is combined with
the solutions offered by the CPSI family of companies, we are
helping more communities to live healthier, more vibrant lives by
leveraging our collective strengths.
According to Douglas, more than 4,600 acute, post-acute and
ambulatory facilities nationwide employ solutions from the CPSI
family of companies, covering a broad range of care settings in
community healthcare.
About CPSI
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, www.evident.com,
www.trubridge.com, www.healthland.com, www.healthtech.net or
www.rycan.com.
About Caravan Health
Caravan Health supports more than 17,000 independent primary
care providers making the transformation to value-based payments
with affordable, simple solutions that achieve outstanding results
through Practice Transformation Networks (PTNs), Accountable Care
Organizations (ACOs) and now Comprehensive Primary Care Plus
(CPC+). For more information, go to www.caravanhealth.com.
Forward-Looking Statements
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170109005427/en/
CPSITracey Schroeder, 612-787-3125Chief Marketing
Officertracey.schroeder@cpsi.com
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