MOBILE, Ala.--(BUSINESS WIRE)--Aug 23, 2018--CPSI (NASDAQ: CPSI), a community healthcare solutions company, today announced that Santiam Hospital, a 40-bed acute care hospital located in Stayton, Oregon, has made the decision to return to the CPSI family of companies for their in-patient electronic health record (EHR) solution.
Santiam Hospital had been a long-standing Healthland client on their legacy system, Classic. While the team from Santiam Hospital had been very happy with their partnership, they needed to upgrade to a newer EHR system that better connected the clinic and hospital. As part of that decision, they explored additional options for comparison purposes. After a competitive search process, Santiam Hospital leadership chose a solution from a different vendor that came with several promises regarding the enhancement of their in-patient solution. However, nearly six months after they had gone live with their ambulatory solution, the progress they were expecting with the new in-patient solution did not come to fruition.
“There were many areas of concern from our perspective that were never realized once the clinic implementation began,” said Maggie Hudson, chief financial officer and chief operating officer of Santiam Hospital. “Our vision to serve as the healthcare provider at the center of our community needed to be supported by a fully working and proven solution in both the clinic and hospital settings. Our providers were pleased with the clinic solution, but considering the gaps within the hospital system, we simply couldn’t take the chance. By the end of 2017, we were not convinced that all the needed changes were coming, which would have adversely affected our future plans. In addition, we intend to attest for Meaningful Use in 2018, and we need to be certain we are set up to be successful.”
With that in mind, Santiam Hospital made the decision to change course and upgrade to the Centriq solution in their hospital and emergency department. Centriq is a complete EHR solution now offered by the CPSI family of companies, following the acquisition of Healthland in 2016.
“Knowing that CPSI is committed to continued support and investment in the Centriq solution was a major factor in our decision,” said Hudson. “This promise made our decision to return to the CPSI family of companies an easy one.”
The hospital, which has a rich history in the Willamette Valley, appreciates that the CPSI family of companies serves over 1,000 similar community facilities and is willing to take the steps necessary to ensure their success. Santiam expects to be live on Centriq in September, which will help the hospital successfully complete Meaningful Use 2018 attestation.
“We welcome Santiam Hospital back to our family of companies,” said Boyd Douglas, president and chief executive officer of CPSI. “As their partner, we will continue to support their mission to be the healthcare provider at the center of their community. What the providers from Santiam Hospital do every day is vitally important to the people they serve, and we want to ensure their success today and well into the future. We remain committed to offering the best healthcare solutions and support for small, rural communities like Stayton, Oregon.”
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 three companies – Evident, LLC, TruBridge, LLC 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 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. For more information, visit 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, leverage ratio, margins, costs, expenditures, cash flows, growth rates, the Company’s level of recurring and non-recurring revenue and backlog, the Company’s shareholder returns 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 potential 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 technology and products in response to market demands; failure of our products to function properly resulting in claims for medical and other 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 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 of America; significant charge to earnings if our goodwill or intangible assets become impaired; 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. Relative to our dividend policy, the payment of cash dividends is subject to the discretion of our Board of Directors and will be determined in light of then-current conditions, including our earnings, our leverage, our operations, our financial conditions, our capital requirements and other factors deemed relevant by our Board of Directors. In the future, our Board of Directors may change our dividend policy, including the frequency or amount of any dividend, in light of then-existing conditions. 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, 251-639-8100
Chief Marketing Officer
KEYWORD: UNITED STATES NORTH AMERICA ALABAMA
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