CPSI Announces New EHR Financing Model For Hospitals And Skilled Nursing Facilities
Through financial management services, the nTrust program eliminates up-front EHR costs.
LAS VEGAS, March 1, 2016 /PRNewswire/ -- Newly-expanded CPSI (NASDAQ:CPSI) has introduced nTrust, a program that makes it possible for community hospitals and skilled nursing facilities to improve financial operations while simultaneously moving into an advanced Electronic Health Records (EHR) solution with no up-front costs. The program was revealed at the HIMSS annual meeting.
Boyd Douglas, CPSI President and CEO, said, "There are many providers who are unhappy with their EHR, but they don't have the financial capability to make a switch. With nTrust, we help providers in acute and post-acute settings improve business operations via our TruBridge management services, while at the same time funding the purchase of their EHR with no advance payment required."
Douglas described how new service works: Hospitals and senior care facilities outsource revenue cycle management operations to TruBridge business services, which has been strengthened by the recent addition of advanced revenue cycle management tools from Rycan Technologies. As a result of this business relationship, proceeds are allocated to finance the purchase and ongoing support of either Evident's EHR solution for acute care providers or American HealthTech's EHR for post-acute care facilities.
Douglas said, "The beauty of nTrust is that it gives customers a pathway to a better-performing EHR without up-front costs, with a partner that is taking a stake in their success. We're saying we will help you achieve the improved cash flow and increased financial efficiency in your operations that will help pay for an EHR that fits your needs for the complex and shifting healthcare environment in which we all live."
Douglas said, "We are actually making a financial investment in the ongoing success of our clients who choose to take advantage of this program. That is the definition of a partnership."
Early reviews on the nTrust approach are positive. John Hodnett, DNP, RN, Director of Clinical Systems at Sharkey-Issaquena Community Hospital in Rolling Fork, MS, said, "We have embarked on a relationship with CPSI that began with TruBridge services to improve our business operations. To further enhance our ability to effectively serve our patients and our community, the Thrive EHR from Evident was implemented simultaneously. This business venture was without a big up-front expense."
Hodnett said, "The partnership aspect of the nTrust approach is invaluable to us and made the goal of implementing a new electronic health record financially obtainable."
Douglas pointed out that the nTrust program was specifically designed to be of value to rural and community hospitals and senior care facilities.
"We understand how today's complexities associated with revenue cycle management has put increasing pressure on community healthcare providers who are already financially stressed. TruBridge brings proven operational expertise and industry leading tools to bear to greatly enhance the efficiency and effectiveness of managing the revenue cycle process," Douglas said.
"We have a proven track record of success in improving claims acceptance rates, accelerating payments from third party payers and increasing private pay collections. Just as importantly, we understand the importance of maintaining employment in the local community. That's why our approach often involves hiring local provider employees to continue their roles under the TruBridge program," he said.
Douglas said the increased cash flow resulting from the implementation of TruBridge revenue cycle management has proven successful to the degree that many healthcare providers experience significant increases in cash on hand in addition to funding the EHR investment.
Douglas said, "This exciting nTrust announcement is the first of many product and service offerings that are emerging from the recent blending of the Evident, TruBridge, Healthland, American HealthTech and Rycan businesses. We remain very excited about the impact this group of businesses will have on the delivery and management of healthcare to communities across the country."
He asked providers to look for more developments as the company continues to integrate products and services into new and complementary offerings across the continuum of care to help community hospitals and post-acute facilities succeed and thrive.
CPSI is a leading provider of healthcare IT solutions and services for community hospitals and post-acute care facilities. Founded in 1979, CPSI is the parent of five companies – Evident, LLC, TruBridge, LLC, Healthland Inc., American HealthTech, Inc., and Rycan Technologies, 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 exclusively on providing business, consulting, and managed IT services to community healthcare organizations, regardless of their IT vendor. 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. Rycan provides revenue cycle management workflow and automation software to hospitals, healthcare systems, and skilled nursing organizations. For more information, visit www.cpsi.com, www.evident.com, www.trubridge.com, www.healthland.com,www.healthtech.net, or www.rycan.com.
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Boyd Douglas, President and Chief Executive Officer, (251) 639-8100