CPSI and PointClickCare Announce Exclusive Referral Partnership for TruBridge RCM Services to Skilled Nursing Facilities
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Insights
The exclusive referral partnership between CPSI and PointClickCare is significant in the healthcare solutions landscape. It indicates a strategic move by CPSI to capitalize on PointClickCare's established customer base within skilled nursing facilities. By exclusively referring TruBridge's RCM solutions, CPSI is likely to see an uptick in adoption rates, which can have a positive impact on revenue streams. This partnership also follows CPSI's divestment of American HealthTech, suggesting a streamlined focus on core competencies and potential for improved operational efficiency.
From a financial perspective, the partnership could enhance CPSI's market position in the RCM space, which is crucial given the current industry trends towards outsourcing. The collaboration may lead to cost synergies and cross-selling opportunities, potentially increasing the shareholder value. However, the long-term success of this partnership will depend on TruBridge's ability to integrate with PointClickCare's platform and the actual uptake by skilled nursing facilities.
The healthcare technology sector, particularly RCM, is ripe for growth, driven by the increasing complexity of healthcare billing and a shift towards value-based care. The partnership between CPSI and PointClickCare taps into the underpenetrated skilled nursing facility market, indicating a strategic targeting of a niche yet growing segment. As organizations face staffing challenges and look to optimize financial health, the demand for outsourced RCM solutions is expected to surge.
Market data suggests that the efficiency and financial health of healthcare providers are key factors in maintaining competitiveness. The partnership could provide a competitive edge by offering a comprehensive solution that addresses these challenges. However, the success of this initiative will hinge on the ability to effectively communicate the value proposition to PointClickCare's existing customer base and to seamlessly deliver on the promised efficiencies.
The referral partnership between CPSI and PointClickCare reflects a growing trend in the healthcare industry towards consolidation of services and technology integration. The focus on RCM solutions for skilled nursing facilities is particularly noteworthy, as these organizations often face unique financial and operational challenges. TruBridge's HFMA Peer Reviewed services are likely to resonate with facilities looking for proven solutions to improve their financial operations.
By aligning with PointClickCare, CPSI may benefit from increased exposure and credibility within the post-acute care market. However, the effectiveness of the partnership will largely depend on the integration of TruBridge's services with PointClickCare's technology platform and the ability to meet the specific needs of skilled nursing facilities. It's also critical that the partnership delivers on its promise of eliminating inefficiencies and improving financial outcomes for it to be considered successful in the long term.
Chris Fowler, president and chief executive officer of CPSI, stated, “This exclusive referral partnership brings together two leaders with the similar goal of creating more efficiencies for healthcare organizations. Skilled nursing facilities are not immune to staffing challenges and the pressure that comes with managing resources and the financial health of their facilities. This market remains largely underpenetrated, however, skilled nursing facilities will ultimately benefit by outsourcing part or all of the RCM process. This partnership will provide the skilled nursing facilities and care teams that leverage PointClickCare, a clear choice for a trusted RCM partner in TruBridge,” added Fowler.
Dave Wessinger, chief executive officer and co-founder, PointClickCare, stated, “Our Marketplace Partners provide world-class technology and share our deep commitment to ensuring our customers have access to the most powerful, efficient, and effective solutions. This partnership aligns well to address an increasing demand from skilled nursing facilities to get paid quickly and accurately for their services. We look forward to a successful partnership with TruBridge to further extend our customers’ technology capabilities and help them eliminate inefficiencies and improve the financial health of their business.”
The news of this exclusive partnership immediately follows CPSI announcing the divestment of American HealthTech to PointClickCare. CPSI acquired American HealthTech in 2016, which provided the TruBridge team invaluable experience and understanding of the unique needs in the post-acute market. Leveraging this tenure and experience, TruBridge’s talented RCM team and HFMA Peer Reviewed services are a great fit for PointClickCare’s skilled nursing facility customers.
Fowler added, “It is very clear that RCM is part of our future growth as healthcare organizations will increasingly look to outsource part or all their RCM process to trusted partners like TruBridge to simplify their revenue cycle needs. We are thrilled to have found the right long-term home for the AHT customer base in PointClickCare, and remain committed to supporting these same customers with our proven RCM solutions that improve the financial health of healthcare organizations.”
About CPSI
CPSI has over four decades of experience in connecting providers, patients and communities with innovative solutions that support both the clinical and financial side of healthcare delivery. We provide business, consulting, and managed information technology (IT) services, including our industry leading HFMA Peer Reviewed® suite of revenue cycle management (RCM) offerings, to help streamline day-to-day revenue functions, enhance productivity, and support the financial health of healthcare organizations. Our patient engagement solutions provide patients and providers with the critical information and tools they need to share existing clinical data and analytics that support value-based care, improve outcomes, and increase patient satisfaction. We support efficient patient care across an expansive base of community hospitals with electronic health record (EHR) product offerings that successfully integrate data between care settings. We make healthcare accessible through data-driven insights that support informed decisions and deliver workflow efficiencies, while keeping patients at the center of care. We are a healthcare solutions company. We clear the way for care. For more information, please visit www.cpsi.com.
About PointClickCare
PointClickCare is a leading healthcare technology platform enabling meaningful collaboration and access to real‐time insights at every stage of the patient healthcare journey. PointClickCare’s single platform spans the care continuum, fostering proactive, holistic decision‐making and improved outcomes for all. Today, PointClickCare enables care collaboration and value-based care delivery for millions across
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. Without limiting the generality of the preceding statement, all statements in this press release relating to the anticipated benefits of an exclusive referral partnership to PointClickCare and CPSI, together with other statements regarding PointClickCare and CPSI that are not historical facts, are forward-looking statements. We caution investors that any such forward‑looking statements are only predictions reflecting the best judgement of PointClickCare and CPSI based upon currently available information and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause the companies’ actual results, performance or plans to differ materially from those projected in the forward‑looking statements. Such factors may include: risks associated with the referral partnership, including that the use of TruBridge’s RCM solution by PointClickCare’s skilled nursing facilities might not increase the facilities’ ability to get paid quickly and accurately for their services; the partnership with TruBridge might not extend PointClickCare’s customers’ technology capabilities or help them eliminate inefficiencies and improve the financial health of their business; the possibility that if the companies do not achieve the perceived benefits of the referral partnership as rapidly or to the extent anticipated by financial analysts or investors, the market price of CPSI’s common stock could decline; and other 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 its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240116908516/en/
CPSI CONTACT:
Tracey Schroeder
Chief Marketing Officer
tracey.schroeder@cpsi.com
(251) 639-8100
PointClickCare CONTACT:
Nicole Das
Media Relations
PointClickCare@pancomm.com
Source: CPSI
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