CPSI to Rebrand as TruBridge, Inc.
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Insights
The rebranding of CPSI to TruBridge signifies a strategic pivot that aims to consolidate the company's offerings and enhance its market presence. This move is indicative of a broader trend where companies streamline their identities to better communicate their core competencies and value propositions to the market. For stakeholders, a unified brand can simplify client interactions and potentially lead to increased brand equity. The focus on revenue cycle management (RCM) offerings aligns with the growing demand for healthcare organizations to optimize their financial operations in an increasingly complex regulatory environment.
From a market perspective, TruBridge's emphasis on data-driven tools and workflow efficiencies is likely to resonate with healthcare providers seeking to improve operational effectiveness. The company's commitment to maintaining high-touch service is essential for customer retention, particularly in an industry where service quality is paramount. The rebranding could attract new clients who associate the new identity with a strong commitment to addressing the current challenges in healthcare technology.
The announcement of CPSI's name change to TruBridge and the subsequent ticker symbol change to TBRG is a significant event for investors and the stock market. Such rebranding efforts can often lead to short-term volatility in a company's stock price as investors assess the potential impact on the company's future earnings. The shift in branding strategy may be viewed as a positive step towards achieving more significant market penetration and revenue growth, particularly if the new brand resonates with the target audience.
Long-term implications for shareholders include the potential for the rebranding to unlock value through better market positioning and clearer messaging around the company's services. Investors will be monitoring the effectiveness of the rebranding in driving sales and whether it can lead to improved financial performance. It will be critical to evaluate subsequent financial statements to determine if the rebranding has translated into tangible financial benefits.
The healthcare industry is undergoing rapid transformation, with technology playing a pivotal role in shaping the future of care delivery. TruBridge's focus on revenue cycle management (RCM) is particularly relevant as healthcare providers face increasing pressure to improve financial performance while maintaining high standards of patient care. The ability of TruBridge to leverage over four decades of industry experience positions it favorably within the competitive landscape.
TruBridge's continuation of the legacy created by CPSI and the Evident EHR business indicates a sustained commitment to supporting small, rural community hospitals and clinics, which are often underserved by larger healthcare technology firms. This could lead to strengthened relationships with existing clients and the acquisition of new ones in this niche market. The company's strategic focus on timely delivery of solutions that address real problems aligns with the industry's shift towards value-based care, which emphasizes both financial and clinical outcomes.
New Brand Reflects Company Commitment To Clear The Way For Care.
The name change reflects the Company’s recent transformation, leveraging its strengths and expertise to deliver a more cohesive and comprehensive suite of financial and clinical solutions. With a singular focus on addressing the technology needs of today’s complex healthcare environment, TruBridge will continue to deliver its industry-leading suite of revenue cycle management (RCM) offerings and utilize data-driven tools and insights that deliver workflow efficiencies and remove distractions.
With this consolidation, TruBridge brings over four decades of experience as a trusted partner to healthcare providers, helping them navigate through a complex and ever-changing industry. TruBridge has been at the forefront of helping clients across all care settings to drive improved financial health. Now, TruBridge will also continue the legacy created by CPSI and the former Evident electronic health record (EHR) business to support more efficient care delivery in small, rural community hospitals and clinics. Importantly, TruBridge is committed to offering the same exceptional support and high-touch service that its now combined client base has come to expect.
“As one company, TruBridge is collectively focused on bridging gaps in healthcare, empowering providers and improving financial and clinical outcomes through the timely delivery of solutions that solve real problems in the communities we serve,” said Chris Fowler, president and chief executive officer of CPSI.
“We embarked on a transformation journey over two years ago to align our products and services more effectively with market demand. Following market research with our employees, clients, and other stakeholders, it was abundantly clear that the TruBridge brand has a solid reputation and more accurately reflects our current strategic focus and planned growth trajectory.
“As healthcare organizations increasingly look to outsource their RCM process, TruBridge is a trusted name that brings the right experience and expertise to meet their needs. We are fortunate to have a loyal customer base of healthcare providers who will continue to benefit from the unmatched value that is synonymous with the TruBridge brand. We remain steadfast in our mission to help communities thrive and promote equitable access to quality healthcare for all. This commitment extends to the over 1,500 clients we serve, our exceptional team of employees, and our shareholders,” added Fowler.
The Company will be unveiling the TruBridge brand at ViVE®2024 (Booth 1344) taking place on February 25 - 28, 2024, in
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 TruBridge
We are a trusted partner to more than 1,500 healthcare organizations with a broad range of technology-first solutions that address the unique needs and challenges of diverse communities, promoting equitable access to quality care and fostering positive outcomes. Our industry leading HFMA Peer Reviewed® suite of revenue cycle management (RCM) offerings combine unparalleled visibility and transparency to enhance productivity and support the financial health of healthcare organizations across all care settings. TruBridge has over four decades of experience in connecting providers, patients and communities with innovative solutions that create real value by supporting both the financial and clinical side of healthcare delivery. Our solutions champion end-to-end, data-driven patient journeys that support value-based care, improve outcomes, and increase patient satisfaction. We support efficient patient care with electronic health record (EHR) product offerings that successfully integrate data between care settings. Above all, we believe in the power of community and encourage collaboration, connection, and empowerment with our customers. We clear the way for care. For more information, please visit www.trubridge.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. Without limiting the generality of the preceding statement, all statements in this press release relating to the Company’s ongoing business transformation, including the anticipated benefits to the Company of rebranding CPSI into TruBridge, together with other statements regarding the Company 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 the Company based upon currently available information and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause the Company’s actual results, performance or plans to differ materially from those projected in the forward-looking statements. Such factors may include: risks associated with the Company’s business strategy, including that the Company may not be successful in pursuing new market opportunities and delivering value to clients, communities and shareholders; risks related to future opportunities and plans for the Company following the corporate name change and rebranding to TruBridge, including uncertainty of the expected financial performance and results of the Company and any disruptions making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; the inability to retain key personnel; the possibility that if the Company does not achieve the perceived benefits of the rebranding as rapidly or to the extent anticipated by financial analysts or investors, the market price of the Company’s common stock could decline; 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 and our 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/20240222312549/en/
Tracey Schroeder
Chief Marketing Officer
tracey.schroeder@cpsi.com
(251) 639-8100
Source: CPSI
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