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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Computer Programs and Systems, Inc.    CPSI

COMPUTER PROGRAMS AND SYSTEMS, INC.

(CPSI)
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Computer Programs and : Oklahoma Hospital Selects Evident EHR and TruBridge RCM Solutions for Their Integration, Intuitive Workflows, and Financial Efficiencies

10/06/2020 | 12:02pm EST

Evident, LLC, a wholly owned subsidiary of CPSI (NASDAQ: CPSI) and a leading provider of electronic health record (EHR) systems and services, announced today that Haskell Regional Hospital, Inc., an 18-bed critical access hospital (CAH) located in Stigler, Oklahoma, has selected the Evident EHR solution through a Software-as-a-Service (SaaS) licensing agreement. This includes the full suite of clinical, financial and workforce management applications and the Revenue Cycle Management (RCM) and cloud-hosting services offered through CPSI sister company, TruBridge, LLC.

Boa Vida Healthcare manages Haskell Regional Hospital, Inc., the second of its hospitals to implement Evident’s EHR solution, following Monroe Regional Hospital located in Aberdeen, Mississippi. Like many rural facilities, Haskell Regional Hospital, Inc. faced challenges with profitability and risk of closure, which were further affected by the COVID-19 pandemic. Running the Evident EHR solution will afford Haskell Regional Hospital, Inc. the opportunity to take advantage of advanced, modern and integrated technology solutions to improve workflow efficiencies for providers and facilitate the transfer of patient information across a variety of settings, including emergency department, lab, patient rehab and inpatient care.

“Haskell Regional Hospital, Inc. is the first to implement the Evident EHR solution under our new corporate agreement with Evident,” said KJ (Kirnjot) Singh, MD, president of Boa Vida Healthcare. “We believe the benefits from the Evident EHR solution, plus the complementary offerings from TruBridge, have already delivered significant value to Monroe Regional Hospital and will do the same for Haskell Regional Hospital, Inc. and many more of our facilities in the future. The competition simply can’t compete with what Evident has to offer community hospitals. Its experience and longstanding focus on rural healthcare delivery really sets Evident apart.”

The TruBridge RCM solution will create efficiencies and drive revenue cycle success for both front and back office staff at Haskell Regional Hospital, Inc. and future facilities due to the corporate agreement. “Through integration with the Evident EHR solution, our teams will be able to easily reconcile charges and eliminate duplicate entries, making our patient billing process more accurate and having a positive impact on profitability, which is key to solid business operations,” Singh added.

According to Boyd Douglas, president and chief executive officer of CPSI, “The combination of our industry leading EHR and RCM solutions continues to bring significant value to our clients and their ability to improve both patient and financial outcomes for the communities they serve. In partnership with Boa Vida Healthcare, we look forward to bringing this winning combination to other rural communities across the U.S.”

Haskell Regional Hospital, Inc. is expected to be live on the Evident system in November 2020.

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 a 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.

About Boa Vida Healthcare

Boa Vida Healthcare brings together a team of professionals with decades of experience in clinical medicine and the management of hospitals. Boa Vida Healthcare’s mission is to save and improve hospitals so that they can deliver compassionate, quality care to patients and revitalize communities. Boa Vida Healthcare focuses on the unique needs of rural and urban safety-net hospitals.

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 Boa Vida Healthcare and Haskell Regional Hospital, Inc. 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 improve workflow efficiencies for providers and facilitate the transfer of patient information across a variety of settings and the ability of TruBridge’s RCM solution to create efficiencies and drive revenue cycle success; the ability of CPSI to enable Haskell Regional Hospital, Inc. to go live on the Evident system in November 2020; the impact of COVID-19 and related economic disruptions which have materially affected the Company’s revenue and could materially affect the Company’s gross margin and income, as well as the Company’s financial position and/or liquidity; actions to be taken by the Company 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 the Company’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.


© Business Wire 2020
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Financials (USD)
Sales 2020 265 M - -
Net income 2020 17,2 M - -
Net Debt 2020 28,8 M - -
P/E ratio 2020 25,3x
Yield 2020 5,21%
Capitalization 433 M 433 M -
EV / Sales 2020 1,74x
EV / Sales 2021 1,62x
Nbr of Employees 2 000
Free-Float 95,9%
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 32,29 $
Last Close Price 30,73 $
Spread / Highest target 20,4%
Spread / Average Target 5,06%
Spread / Lowest Target -12,1%
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Managers and Directors
NameTitle
John Boyd Douglas President, Chief Executive Officer & Director
Glenn P. Tobin Chairman
Christopher L. Fowler Chief Operating Officer
Matt J. Chambless Chief Financial Officer, Secretary & Treasurer
J. Scott Littrell Vice President-Information Technology Services
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