CPSI Launches Rural ACOs in Partnership with Caravan Health
January 9, 2017
Innovative Program to Help Rural Providers Transition to Value-Based
Care
MOBILE, Ala.--(BUSINESS WIRE)--
Healthcare solutions leader CPSI (NASDAQ: CPSI) today announced the
creation of the CPSI Rural Accountable Care Organizations (“ACOs”) in
partnership with Caravan Health. CPSI and its family of businesses are a
leading provider of healthcare solutions for community hospitals and
post-acute care facilities nationwide. CPSI now brings 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.
“We are excited to bring this new, innovative ACO offering to all rural
community hospitals and their affiliated and employed physicians,
regardless of which EHR they use,” said Boyd Douglas, president and
chief executive officer of CPSI. “Finding the right partner to bring the
CPSI Rural ACOs to fruition was vital to the success of our clients.
Caravan Health has a proven track record in the rural ACO space with 23
successful Medicare Shared Savings Programs in 32 states. This
partnership allows us to address the specific needs rural providers face
as they begin their transition to value-based care.”
Lynn Barr, chief executive officer of Caravan Health, sees the benefits
of the CPSI Rural ACOs. “Over the years, CPSI has shown that they
understand the sense of pride a community has in its hospital,” said
Barr. “They also know the unique challenges that providers must overcome
on their path to providing value-based care. We are proud to be
partnering with CPSI to bring this great opportunity to the community
marketplace.”
Douglas added, “In talking with customers, we have found that the
largest barrier they are facing is finding resources needed to
participate in an ACO. With CPSI Rural ACOs, not only are we able to
minimize the up-front costs while maximizing revenue under the
value-based care model, but we will also provide our customers with the
tailored tools and training needed to transform healthcare delivery in
their communities. CPSI will support up to 20 new rural ACOs with up to
200 rural health systems across the country.”
According to data published in 2015 by the Centers for Medicare &
Medicaid Services, Caravan Health achieved shared savings 257% greater
than the national average with an aggregate quality score of 96.8%. This
was accomplished through the passion of rural providers for their
communities, combined with the infrastructure and tools needed for rural
facilities to be successful in the ACO setting. The Caravan Health
program allows physicians to focus on treating their patients instead of
dealing with administrative paperwork. When this program is combined
with the solutions offered by the CPSI family of companies, we are
helping more communities to live healthier, more vibrant lives by
leveraging our collective strengths.
According to Douglas, more than 4,600 acute, post-acute and ambulatory
facilities nationwide employ solutions from the CPSI family of
companies, covering a broad range of care settings in community
healthcare.
About CPSI
CPSI 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 Health
Caravan 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 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
estimated and projected earnings, margins, costs, expenditures, cash
flows, growth rates 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. 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: http://www.businesswire.com/news/home/20170109005427/en/
CPSI
Tracey Schroeder, 612-787-3125
Chief Marketing Officer
tracey.schroeder@cpsi.com
Source: CPSI