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Healthcare Organization Will Benefit from a Recurring Revenue Stream, Budget Predictability and an Industry Leading EHR Across Acute, Ambulatory and Post-Acute Care
TruBridge, LLC, a subsidiary of CPSI (NASDAQ: CPSI), a healthcare solutions company, announced today that Crook County Medical Services District (CCMSD), a Wyoming-based Critical Access Hospital (CAH) has selected the nTrust program, which includes revenue cycle services from TruBridge and EHR solutions offered through the CPSI family of companies.
By partnering with TruBridge for its business office functions, CCMSD will have the ability to fund the purchase of an industry leading EHR through a percentage of collections with no upfront costs required.
The partnership with TruBridge will provide CCMSD with a better performing EHR system across its clinics, hospital, emergency department and long-term care facility. In addition, they will benefit from a recurring revenue stream and improved budget predictability, which can have a significant impact on community healthcare providers.
"We feel good about this partnership with CPSI and its family of companies," said Micki Lyons, chief executive officer of Crook County Medical Services District. "Improved decision-making for our front- and back-office teams is very important to our success. In addition, the efficiencies gained through enhanced workflows at the point of care across each of our care settings will create meaningful change for our providers. We expect these changes to have a real impact throughout our organization and on our patients, allowing us to uphold the high standard of care we strive to provide our community."
According to Trisa Linford, revenue and compliance officer of Crook County Medical Services District, "We fully expect TruBridge to improve our ability to get paid faster and get paid more by streamlining processes and getting bills out the door more efficiently. With the Business Intelligence product, we will have the ability to get information out of the system we need for better reporting, which we had difficulty doing with our previous RCM partner."
"This partnership speaks to the value CCMSD places in our shared interest to ensure they can succeed in community healthcare delivery," said Chris Fowler, president of TruBridge. "The financial barriers to changing EHR systems can be great, even considering the benefits that product innovation can provide on care delivery and business operations. Our nTrust model helps alleviate that strain and provides our clients with the added benefit of working with one partner across all disciplines of care."
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.
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 ability of Evident and TruBridge to successfully partner with CCMSD 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 the ability of CPSI’s EHR solutions to create clinical efficiencies and improve decision-making and TruBridge’s RCM solution to improve billing processes and financial reporting at CCMSD; the impact of COVID-19 and related economic disruptions which have materially affected CPSI’s revenue and could materially affect CPSI’s gross margin and income, as well as CPSI’s financial position and/or liquidity; actions to be taken by CPSI 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 CPSI’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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