American HealthTech Chosen by Texas Healthcare Facility for Financial and Technology Advances
Accounts Receivable Management is Central to Financing Technology Enhancement Package
ELDORADO, Texas--(BUSINESS WIRE)--Dec. 8, 2016-- American HealthTech (AHT), a wholly owned subsidiary of CPSI(NASDAQ: CPSI), today announced that AHT has been selected by Schleicher County Medical Center and Nursing Home in Eldorado, Texas, to provide Medicaid accounts receivable management services and fund the implementation of advanced technology upgrades in the organization’s clinical and business management operations. The Texas nursing home expects to turn improved collection of reimbursement dollars into an updated, comprehensive technology system.
In addition to its post-acute nursing home, the organization operates a critical-access hospital and physician clinic on its campus in rural Eldorado, which is about 200 miles from both Austin and San Antonio.
“We were looking for a way to recover more dollars, faster, from government payors for the Medicaid residents in our nursing facility,” said Pam Stokes, Administrator. “We discovered that through American HealthTech we could accelerate collections and, in turn, update our electronic charting technology so that we can ultimately improve patient care and recover more costs for each resident by improving our documentation. This new element of our relationship with AHT will strengthen the financial standing of our healthcare system here in Eldorado, which also significantly enhances the vitality of our entire community.”
The TruBridge accounts receivable management service is a new offering from AHT – a result of becoming part of the CPSI family of companies early in 2016. CPSI’s TruBridge business consulting group has a long history of providing Revenue Cycle Management (RCM) services and improving receivables collection and management for hospitals -- and now post-acute nursing facilities.
Teresa Chase, president of American HealthTech, said, “This partnership with Schleicher County Medical Center and Nursing Home is a critically important and innovative approach to improving accounts receivable management as the means to upgrade technology for improving across-the-board operations and the delivery of patient care. We think it’s a model for facilities across the country -- especially considering the increasing complexity of reimbursement rules and regulations.”
Chase said that AHT’s medical charting technology is part of its overall electronic health records (EHR) solution for post-acute and senior living organizations. Physician and nursing notes, lab results, prescription information, billing history, immunization records and more are charted quickly, easily and accurately into the system.
CPSI is a leading provider of healthcare IT solutions and services for rural and community hospitals and post-acute care facilities. Founded in 1979, CPSI is the parent of five companies – Evident, LLC, TruBridge, LLC, Healthland Inc., American HealthTech, Inc., and Rycan Technologies, Inc. Our combined company is 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 rural and community hospitals. TruBridge focuses exclusively on providing business management, consulting and managed IT services to rural and community healthcare organizations, regardless of their IT vendor. 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. Rycan provides revenue cycle management and workflow and automation software to hospitals, healthcare systems, and skilled nursing organizations. For more information, visit www.cpsi.com, www.evident.com, www.trubridge.com,www.healthland.com, www.healthtech.net or www.rycan.com.
About American HealthTech
Headquartered in Jackson, MS, and with offices in Denver, CO, American HealthTech (AHT) is a premier provider of integrated solutions to the skilled nursing industry to help organizations achieve data-driven clinical and financial improvements. Its solutions delivered to clients include software, professional services and interoperability connections. AHT is part of the CPSI family of healthcare IT solutions. For more information, visit www.healthtech.netand www.cpsi.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,” “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 estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and future financial results 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: 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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Tracey Schroeder, 612-787-3125
Chief Marketing Officer