News | November 1, 2017

CPSI Welcomes Back Two Returning Community Hospitals

MOBILE, ALA.--(BUSINESS WIRE)--

CPSI (NASDAQ: CPSI), the parent company of the leading provider of electronic health record (EHR) systems and services for community hospitals, announced today that Seiling Municipal Hospital and El Campo Memorial Hospital have made the decision to return to the CPSI family of companies for the hosted Thrive EHR solution from Evident.

Oklahoma-based Seiling Municipal Hospital recently entered into a management agreement with Alliance Health Partners, which owns and manages small, rural community hospitals across the United States. When Evident’s management team learned that Alliance Health Partners was looking for an EHR partner with experience, success and a strong understanding of the unique needs in community healthcare, it became clear that they could deliver real value in helping Alliance Health Partners grow their network of owned and managed community hospitals.

The knowledge that Evident brings to the community healthcare space is unmatched and assures facilities like Seiling Municipal Hospital that the Thrive EHR system will work the first time, every time, and enable them to run efficiently, which also positively affects these communities as a whole.

The 18-bed, critical-access hospital will utilize not only the full Thrive EHR system, but will also take advantage of the nTrust program, offered through TruBridge, also a member of the CPSI family of companies. The nTrust program aligns the hospital’s goals by earmarking a percentage of collections toward the EHR product and services. This model makes it possible for community hospitals to improve financial operations while simultaneously moving to an advanced EHR solution with no up-front costs and affordable monthly payments. In addition, nTrust incorporates all the surrounding services, including future product enhancements, software maintenance and support.

Boyd Douglas, president and chief executive officer of CPSI, said “Welcoming Seiling Municipal Hospital back to our family of companies means everything to us at CPSI. As their partner, we will deliver the tools necessary for them to excel on all levels. And, with our newly expanded revenue cycle solution and cloud services, there’s no need for them to have to work with multiple vendors.”

El Campo Memorial Hospital, a 49-bed hospital based in El Campo, Texas, had made the decision under previous management to move to another EHR provider. Their decision was based on promises that led the team to believe the new product and services were better than their current solution. El Campo soon realized that many assurances previously made were not coming to fruition. With Nathan Tudor on board as the new CEO of El Campo, it was time for a new direction. “Once I understood what the team was looking for in an EHR solution and partner, I was certain that Evident was the right fit for us,” said Tudor. “Based on our previous experience with Evident, I also had the utmost confidence in their implementation approach, which eased the anxiety of making another change. You can’t put a price tag on commitment, and CPSI and their family of companies deliver on their promises. The simple act of doing what you say you’re going to do is invaluable to small communities like ours - it’s simply how we prefer to do business.” Douglas concluded, “Our ability to offer the full range of solutions and services that community hospitals have come to rely on is second to none. By eliminating the need for small hospitals to work with multiple companies, we can ensure the business needs of facilities like Seiling Municipal and El Campo Memorial are met at all levels and that small, community facilities continue to provide the high level of service their communities expect.”

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.


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