CPSI Pilots Clinical Lens to Ease Provider Data Burdens
New Technology Aims to Empower EHR Users with More Efficient Access to Clinical Information at the Point of Care
MOBILE, Ala.–(BUSINESS WIRE)–$CPSI—CPSI (NASDAQ: CPSI), a healthcare solutions company, today announced the pilot launch of Quippe Clinical Lens in partnership with Medicomp Systems. Through integration with CPSI’s Patient Data Console, a unique dashboard that presents problem-oriented views of clinical data, the Clinical Lens technology enhances the Patient Data Console, making medical data relevant, usable, and actionable, giving physicians and other clinicians enhanced clinical decision making capability at the point of care, and resulting in a better care experience and improved overall patient outcomes. This technology also eliminates the need for clinicians to sift through charts of data, which is often not relevant to workflow. The time savings are significant and critically important, considering the staffing challenges and time constraints that many healthcare providers face today.
CPSI unveiled this new technology at its National Client Conference held May 16 – 19 in St. Louis, Missouri.
Healthcare’s new environment of managed care, risk adjustment, and value-based reimbursement requires a new approach to clinical documentation––one that is based on effective medical management of patient conditions. Information entered in the electronic health record (EHR) must be clinically specific, factually accurate, focused on patient clinical status, and geared toward monitoring and optimizing outcomes.
“The advent of the 21st Century Cures Act, along with increasing demand for interoperability, will soon increase the data load and responsibility on providers and other clinicians who are already heavily burdened,” said Bill Hayes, M.D., chief medical officer of CPSI. “We’re excited about this technology and its ability to reduce this data management burden, while helping to improve care quality.”
“This technology will clearly illustrate to the healthcare community that it is possible to make EHR systems work better for clinicians at the point of care,” said David Lareau, chief executive officer of Medicomp Systems. “And, as more industry participants embrace the insights that Quippe Clinical Lens can help them provide, more providers and clinicians will be in a better position to address the coming data tsunami and gain rapid access to the usable information they need to drive better outcomes.”
About CPSI
CPSI is a leading provider of healthcare solutions and services for community hospitals, their clinics and post-acute care facilities. Founded in 1979, CPSI is the parent of six companies – Evident, LLC, American HealthTech, Inc., TruBridge, LLC, iNetXperts, Corp. d/b/a Get Real Health, TruCode LLC, and Healthcare Resource Group, 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 for community hospitals and their affiliated clinics. American HealthTech is one of the nation’s largest providers of EHR solutions and services for post-acute care facilities. TruBridge focuses on providing business, consulting and managed IT services, along with its complete RCM solution, for all care settings. Get Real Health focuses on solutions aimed at improving patient engagement for individuals and healthcare providers. TruCode provides medical coding software that enables complete and accurate code assignment for optimal reimbursement. HRG provides specialized RCM solutions for facilities of all sizes. For more information, visit www.cpsi.com.
About Medicomp Systems
Medicomp Systems is a leading provider of solutions that make data usable for connected care and better outcomes. In 1978, Medicomp pioneered the patented MEDCIN® Knowledge Engine to present relevant clinical concepts in less than a second for any of tens of thousands of diagnoses or patient presentations. For more than 40 years, Medicomp has worked with physicians from leading medical centers and institutions to create solutions that work seamlessly with any EHR to deliver diagnostically relevant and actionable information to clinicians at the point of care. The MEDCIN clinical engine powers the Medicomp Quippe suite of solutions and creates intuitive workflows that support – rather than disrupt – the way clinicians think and work. Medicomp’s solutions deliver proven clinical and financial ROI, including reduced documentation and coding costs, increased clinician productivity, improved outcomes, and appropriate reimbursement. With minimal time and financial investment, stakeholders can deploy the robust clinical engine to filter data from disparate sources and organize structured and unstructured data into relevant and usable information. With real-time access to patient- and problem-specific information, clinicians are empowered to deliver better care and outcomes. To learn more about how Medicomp solutions can benefit your organization, visit http://www.medicomp.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 CPSI to successfully partner with Medicomp 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 CPSI’s EHR solution to create clinical efficiencies and improve decision-making through the partnership with Medicomp or otherwise; the impact of the ongoing COVID-19 pandemic 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; federal, state and local government actions to address and contain the impact of COVID-19 and their impact on us and our hospital clients; operational disruptions and heightened cybersecurity risks due to a significant percentage of our workforce working remotely; saturation of our target market and hospital consolidations; unfavorable economic or market conditions that may cause a decline in spending for information technology and services; significant legislative and regulatory uncertainty in the healthcare industry; exposure to liability for failure to comply with regulatory requirements; competition with companies that have greater financial, technical and marketing resources than we have; potential future acquisitions that may be expensive, time consuming, and subject to other inherent risks; our ability to attract and retain qualified client service and support personnel; disruption from periodic restructuring of our sales force; potential inability to properly manage growth in new markets we may enter; exposure to numerous and often conflicting laws, regulations, policies, standards or other requirements through our international business activities; potential litigation against us; our reliance on an international workforce which exposes us to various business disruptions; potential failure to develop new products or enhance current products that keep pace with market demands; failure to develop new technology and products in response to market demands; failure of our products to function properly resulting in claims for medical and other 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 free of undetected errors or problems; failure to convince customers to migrate to current or future releases of our products; failure to maintain our margins and service rates; increase in the percentage of total revenues represented by service revenues, which have lower gross margins; exposure to liability in the event we provide inaccurate claims data to payors; exposure to liability claims arising out of the licensing of our software and provision of services; dependence on licenses of rights, products and services from third parties; misappropriation of our intellectual property rights and potential intellectual property claims and litigation against us; interruptions in our power supply and/or telecommunications capabilities, including those caused by natural disaster; 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; potential inability to secure additional financing on favorable terms to meet our future capital needs; our substantial indebtedness, and our ability to incur additional indebtedness in the future; pressures on cash flow to service our outstanding debt; restrictive terms of our credit agreement on our current and future operations; changes in and interpretations of financial accounting matters that govern the measurement of our performance; significant charges to earnings if our goodwill or intangible assets become impaired; fluctuations in quarterly financial performance due to, among other factors, timing of customer installations; volatility in our stock price; failure to maintain effective internal control over financial reporting; lack of employment or non-competition agreement with most of our key personnel; inherent limitations in our internal control over financial reporting; vulnerability to significant damage from natural disasters; market risks related to interest rate changes; 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 leverage, 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.
Contacts
Tracey Schroeder
Chief Marketing Officer
tracey.schroeder@cpsi.com
(251) 639-8100
Grant Evans
Amendola Communications for Medicomp Systems
(215) 582-8146
gevans@acmarketingpr.com
