Curahealth Hospitals and Cobalt Rehabilitation Extend Evident EHR and Trubridge RCM Services Across New Facilities as Part of Growth Strategy
Evident, a subsidiary of CPSI (NASDAQ: CPSI), announced that Curahealth Hospitals and Cobalt Rehabilitation have chosen its EHR system and TruBridge's collection services for three new rehabilitation facilities in Denver, West Houston, and San Antonio. This partnership enhances patient care and billing processes across nine facilities nationwide. TruBridge's services can increase private pay cash by 37%, aiding revenue growth. CPSI's technology aims to improve healthcare services amid COVID-19 challenges, with a focus on operational efficiency and better patient outcomes.
- Curahealth Hospitals and Cobalt Rehabilitation expanding use of Evident EHR and TruBridge services to new facilities.
- Potential 37% increase in private pay cash through TruBridge's collection services.
- Enhanced operational efficiency and patient outcomes with integrated EHR across multiple facilities.
- Risks related to COVID-19 could impact CPSI's revenue and gross margin.
- Dependence on TruBridge's services for financial performance introduces potential operational risks.
Evident, LLC, a wholly-owned subsidiary of CPSI (NASDAQ: CPSI) and a leading provider of electronic health record (EHR) systems and related services, today announced that Texas-based Curahealth Hospitals and Cobalt Rehabilitation, long-standing clients of Evident, have selected the Evident EHR along with collection services offered through its sister company, TruBridge, for three new rehabilitation facilities located in Denver, Colorado; West Houston, Texas; and San Antonio, Texas.
Together, Curahealth Hospitals and Cobalt Rehabilitation provide long-term acute care (LTAC) and inpatient rehabilitation services to communities in 12 states. With the addition of these three new facilities, the Evident EHR and revenue cycle services from Trubridge will now be running in a total of nine rehabilitation facilities across the United States, with plans for future growth.
By leveraging an integrated EHR system across clinical and financial operations, these facilities will benefit from better alignment of services delivered at the point of care with patient billing. In addition, the TruBridge Collection services, including proactively working with late accounts and setting up payment arrangements, can result in an increase of private pay cash by as much as 37 percent, helping to increase revenue and improve overall business operations. Greater accuracy and patient-data capture across care settings including vitals, allergies and pre-existing conditions, will help improve care and patient outcomes for the communities Curahealth and Cobalt serve.
According to Jeff Crawford, chief development officer and vice president of rehab operations for Curahealth Hospitals and Cobalt Rehabilitation, the ongoing partnership with Evident and TruBridge has provided more consistency and confidence, which are essential in healthcare. “There are tremendous benefits to using one EHR across many of our rehabilitation facilities, for both our staff and our patients. As we bring on new facilities, having one partner also offers efficiencies and familiarity, which helps with training and overall system adoption.”
“It’s exciting to partner with an organization that continues to grow,” said Boyd Douglas, president and chief executive officer of CPSI. “Our long-standing partnership is a testament to the impact that our EHR and complimentary RCM services have on patient care and the business of healthcare, which is more important than ever considering the challenges put forth by COVID-19. We continue to do our part by offering market-leading technology that brings excellence to the communities served by Curahealth Hospitals and Cobalt Rehabilitation.”
About Evident
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.
About TruBridge
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 HMFA 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.
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,” “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 Curahealth Hospitals and Cobalt Rehabilitation 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; the ability of TruBridge’s collection services to improve patient billing and collections systems; 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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