CPSI Reports Strong Interest in CPSI Rural ACO Program, Powered by Caravan Health
April 11 2017 - 2:30PM
Business Wire
CPSI (NASDAQ: CPSI), a community healthcare solutions company,
today announced the first round of charter members for the CPSI
Rural Accountable Care Organization (ACO) Program, powered by
Caravan Health. CPSI is bringing its leadership and experience to
the value-based care arena through a strategic partnership with
Caravan Health, the market leader in rural ACOs and value-based
payments. More than 50 healthcare facilities have signed letters of
intent to be the first members of the CPSI Rural ACO Program, while
over 100 other facilities have expressed interest in the
program.
“We believe this program will help small, rural communities in
their drive to manage the health of their populations through
value-based care,” said Boyd Douglas, president and chief executive
officer of CPSI. “We are excited about partnering with community
healthcare leaders and providers and providing a best-practice,
highly engaged process that supports each community. By working
together, CPSI and Caravan Health are helping to remove the
barriers rural providers face in participating in an ACO. We are
minimizing up-front costs while providing the tailored tools and
training needed to transform healthcare delivery in their
communities.”
“We were interested in the CPSI Rural ACO Program for several
reasons,” said Marvin Neth, chief executive officer of Callaway
District Hospital and Medical Clinics located in Callaway,
Nebraska. “We have explored the transition to delivering
value-based care by participating in an ACO before, but the steep
financial requirements and risk were barriers. The CPSI Program
addresses the financial hurdle, and Caravan Health’s successful
track record gives us confidence. No other ACO program we explored
offered the level of educational support and proven tools that come
with this program.”
“This program is a great opportunity for rural providers to
transition to value-based care with minimal risk,” said Lynn Barr,
chief executive officer of Caravan Health. “This is an exciting
opportunity of which we hope others continue to take
advantage.”
Barr added that Caravan Health was able to achieve shared
savings that were 257% greater than the national average based on
2015 Centers for Medicare & Medicaid Services data. When this
program is combined with the solutions offered by the CPSI family
of companies, communities can live healthier, more vibrant lives by
leveraging the collective strengths of CPSI and Caravan Health.
About CPSICPSI is a leading provider of healthcare
solutions and services for community hospitals plus other
healthcare systems and post-acute care facilities. Founded in 1979,
CPSI is the parent of four companies – Evident, LLC,
TruBridge, LLC, Healthland Inc., 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 and
services for community hospitals. TruBridge focuses on providing
business, consulting, and managed IT services along with their RCM
product, Rycan, providing revenue cycle management workflow and
automation software to hospitals, other healthcare systems, and
skilled nursing organizations. 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. For more information,
visit www.cpsi.com, www.evident.com, www.trubridge.com,
www.healthland.com, www.healthtech.net or www.rycan.com.
About Caravan HealthCaravan Health supports more than
17,000 independent primary care providers making the transformation
to value-based payments with affordable, simple solutions that
achieve outstanding results through Practice Transformation
Networks (PTNs), Accountable Care Organizations (ACOs) and now
Comprehensive Primary Care Plus (CPC+). For more information, go to
www.caravanhealth.com.
Forward-Looking StatementsThis 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, 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
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. 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 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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version on businesswire.com: http://www.businesswire.com/news/home/20170411006070/en/
CPSITracey Schroeder, 612-787-3125Chief Marketing
Officertracey.schroeder@cpsi.com
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