CPSI Announces Partnership With ChartWise Medical Systems to Offer Enhanced TruBridge Clinical Documentation Solutions to Imp...
September 23 2020 - 11:00AM
Business Wire
CPSI (NASDAQ: CPSI), a healthcare solutions company, and
ChartWise Medical Systems Inc. (ChartWise), a computer-assisted
clinical document improvement (CDI) company, today announced a
partnership that will help healthcare organizations of all sizes
improve clinical documentation accuracy and overall medical
reimbursement.
To strategically manage costs, while also requiring improvements
in the quality of patient care, payers continue to shift from
fee-for-service to fee-for-value reimbursement models. However,
providers struggle with incomplete or inaccurate documentation that
often results in incorrect billing, reimbursement and quality
reporting. By leveraging the ChartWise computer-assisted CDI
software, physicians and clinical documentation specialists (CDS)
have the tools and guidance necessary to improve documentation
quality, resulting in reduced claim denials and more accurate
reimbursement.
Dr. Jon Elion, founder of ChartWise, said, “We have spent the
last 25 years focusing on technology innovations that help
healthcare providers work smarter, not harder. ChartWise enables
patient care to be delivered in a more efficient and effective
manner, while empowering the clinicians and staff with the tools
they need every day.”
“TruBridge provides end-to-end revenue cycle management products
and services to healthcare organizations of all sizes,” said Chris
Fowler, president of TruBridge. “Through this partnership with
ChartWise, we will enhance our existing CDI service with the
software and technology that will ultimately improve reimbursement
for clients. With this electronic health record (EHR)-agnostic
offering, we believe there will be real interest in the added value
to the bottom line of many healthcare organizations – especially
considering the current financial dynamics being experienced during
the COVID-19 pandemic.”
Steven Mason, president and chief executive officer of
ChartWise, said, “We are proud and excited to have a mutually
beneficial partnership that will improve the value proposition of
the TruBridge CDI offering. Our award-winning solution with
built-in intelligent expertise guides physicians and CDS toward a
complete diagnostic picture, automatically analyzing lab data,
medications and procedures to help identify complications and
additional diagnoses that have not been specified completely in the
notes. The result is improved patient acuity determination, quality
scores and revenue capture.”
About CPSI 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
four companies – Evident, LLC, American HealthTech, Inc.,
TruBridge, LLC, and iNetXperts, Corp. d/b/a Get Real Health. 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
clients. 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. Get Real Health
focuses on solutions aimed at improving patient engagement for
individuals and healthcare providers. For more information, visit
www.cpsi.com.
About TruBridge TruBridge, a member of the CPSI family of
companies, provides business and consulting services, and an
end-to-end Revenue Cycle Management (RCM) solution. With our
arsenal of RCM offerings that include a HFMA Peer Reviewed® product
and an HMFA Peer Reviewed® complete outsourcing service, TruBridge
helps hospitals, physician clinics, and skilled nursing
organizations of all sizes become more efficient at serving their
communities. For further information visit www.trubridge.com.
About ChartWise ChartWise Medical Systems, Inc., based in
Wakefield, RI, is a healthcare software firm and the developer of
ChartWise CDI, a web-based solution for Computer-Assisted Clinical
Documentation Improvement. ChartWise CDI’s built-in clinical
intelligence and efficient workflow assists physicians and clinical
documentation specialists with increased completeness and accuracy
of documentation, risk-adjustment, reimbursement and quality
scores. Developed by renowned physician Jon Elion, M.D., ChartWise
CDI is the only clinical documentation software that translates
clinical language used by physicians into accurate diagnostic
language required for documentation and reimbursement. ChartWise
CDI has provided a positive ROI between five (5) to eighteen (18)
times the cost of the software for every client who has used
ChartWise CDI. ChartWise was recognized in the 2016 and 2017 Inc.
5000 List as one of America’s fastest-growing private companies,
placing first among all Rhode Island-based businesses on the list
each year. ChartWise has also been a KLAS award winner for the CDI
software category for three (3) consecutive years. For more
information, visit www.chartwisemed.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,” “projects,” “targets,”
“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 the prospects of CPSI’s partnership with
ChartWise 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: risks related to TruBridge’s ability to
successfully leverage ChartWise’s computer-assisted CDI software to
improve reimbursement for, and add value to, healthcare
organizations; the impact of COVID-19 and related economic
disruptions which have materially affected the Company’s revenue
and could materially affect the Company’s gross margin and income,
as well as the Company’s financial position and/or liquidity;
actions to be taken by the Company in response to the pandemic; the
legal, regulatory and administrative developments that occur at the
federal, state and local levels; potential disruptions, breaches,
or other incidents affecting the proper operation, availability, or
security of the Company’s or its partners’ information systems,
including unauthorized access to or theft of patient, business
associate, or other sensitive information or inability to provide
patient care because of system unavailability; changes in revenues
due to declining hospital demand and deteriorating macroeconomic
conditions (including increases in uninsured and underinsured
patients); potential increased expenses related to labor or other
expenditures; and the impact of our substantial indebtedness and
the ability to refinance such indebtedness on acceptable terms or
at all, as well as risks associated with disruptions in the
financial markets and the business of financial institutions as the
result of the COVID-19 pandemic which could impact us from a
financial perspective. Numerous other risks, uncertainties and
other factors may cause actual results to differ materially from
those expressed in any forward-looking statements. Such factors
include risk factors described from time to time in CPSI’s public
releases and reports filed with the Securities and Exchange
Commission, including but not limited to, CPSI’s most recent Annual
Report on Form 10-K and Quarterly Reports on Form 10‑Q. We also
caution investors that the forward-looking information described
herein represents CPSI’s outlook only as of this date, and CPSI
undertakes no obligation to update or revise any forward-looking
statements to reflect events or development after the date of this
press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20200923005635/en/
Tracey Schroeder Chief Marketing Officer
Tracey.schroeder@cpsi.com (251) 639-8100
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