MOBILE, Ala. (November 6, 2020) – Evident LLC, a wholly owned subsidiary of CPSI (NASDAQ: CPSI) and a leading provider of electronic health record (EHR) systems and services, announced today that Townsen Memorial Hospital has selected the Evident cloud-hosted EHR solution through a Software-as-a-Service (SaaS) licensing agreement. Once live, Townsen Memorial Hospital will be running the full suite of Evident clinical and financial applications in its hospital, emergency department, affiliated surgery center and imaging centers. In addition, Townsen purchased the full Revenue Cycle Management (RCM) product suite offered through Evident sister company, TruBridge.
Located in Humble, Texas, Townsen Memorial Hospital, a CIHQ accredited facility, is comprised of an acute care hospital, emergency department, an affiliated surgery center and two affiliated imaging centers serving Humble and Houston, Texas and the surrounding communities. Townsen was looking for one complete and integrated EHR to better manage its clinical and financial operations. Currently, they are using multiple systems and completing all hospital scheduling and registration manually on paper.
“Serving such a large patient population across both inpatient and outpatient settings results in a very diverse set of care needs for the communities we serve, and we needed a modern, robust technology set to address this type of complex care,” said Lisa Tarkington, Chief Nursing and Clinical Officer, Townsen Memorial Hospital. “We look forward to giving our staff much needed efficiencies so they can focus on our patients and deliver a high standard of care and not be burdened with administrative tasks that can be repetitive and time consuming as a result of using multiple systems and manual processes. With the Evident EHR, our providers and other clinicians will benefit greatly from the advanced workflows and streamlined transfer of patient data across our various care settings.”
On the business side, Townsen Memorial Hospital faced challenges with using multiple financial systems. EHR system integration will give its business office the enhanced accounting and reporting capabilities that it needs for better and faster decision making. In addition, with TruBridge they will gain the ability to get paid faster and get paid more with a full end-to-end RCM offering, maximizing reimbursement and increasing cash flow across their entire organization.
According to Kris James, Townsen Memorial Hospital Chief Financial Officer, “One of the benefits that stood out with the TruBridge product is we will now have a complete view of our revenue cycle history across our hospital and specialty care facilities in one, easily accessible location, allowing us to make decisions based on real data. Much of the guesswork can be eliminated by providing the tools we need to uphold solid business operations across our entire organization, a critical benefit considering the dynamic and often unpredictable nature of healthcare.”
Boyd Douglas, President and Chief Executive Officer of CPSI, said, “We recognize the broad spectrum of EHR and RCM technology available to support healthcare delivery. When partnering with the CPSI family of companies, our clients see real value and ease of doing business with one company that offers a comprehensive solution set that works across the entire organization to advance and improve community healthcare. We look forward to playing a role in the future success of Townsen Memorial Hospital.”
Evident, a member of the CPSI family of companies, recognizes the challenges hospitals, clinics and other healthcare providers face – the need for simplicity, cost containment and delivery of a quality healthcare experience for patients and physicians alike. Our integrated software solutions are backed by a proactive support approach, making us the partner of choice for hundreds of healthcare organizations. For more information, visit www.evident.com.
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 HFMA 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 Townsen Memorial Hospital 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 Evident’s EHR solution to create clinical efficiencies and improve decision-making and TruBridge’s RCM solution to improve cash flow at Townsen Memorial Hospital; 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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