Two Community Hospitals Return to CPSI Family of Companies for EHR Solution
October 19 2017 - 1:00PM
Business Wire
Community Healthcare Experience and Commitment Prove
Important to Decisions for Small, Rural Hospitals
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.”
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.
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. 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/20171019006142/en/
CPSITracey Schroeder, 251-639-8100Chief Marketing
OfficerTracey.schroeder@cpsi.com
Computer Programs and Sy... (NASDAQ:CPSI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Computer Programs and Sy... (NASDAQ:CPSI)
Historical Stock Chart
From Sep 2023 to Sep 2024