Computer Programs and Systems Inc Strengths, Domain Expertise, and Key Differentiators
CPSI is a provider of healthcare IT solutions and services for community hospitals and post-acute care facilities. CPSI is focused on helping improve the health of the communities it serves, connecting communities for a better patient care experience, and improving the financial operations of their customers.
CPSI is the parent of four companies: Evident, LLC, TruBridge, LLC, Healthland Inc., and American HealthTech, Inc. Evident provides comprehensive EHR solutions and services for community hospitals. TruBridge provides revenue cycle management software, and business, consulting, and managed IT services to healthcare organizations, regardless of their IT vendor. Healthland provides integrated technology solutions and services to small rural and critical access hospitals. American HealthTech is a provider of financial and clinical technology solutions and services for post-acute care facilities.
Computer Programs and Systems Inc Recent Developments
In March 2020 CPSI launched a new solution, TalkWithYourDoc.com. By leveraging technology developed by its wholly owned subsidiary, Get Real Health®, the solution enables providers of all sizes to continue offering revenue-generating healthcare services while serving patients’ needs during the COVID-19 outbreak.
TalkWithYourDoc.com, offered free of charge for the remainder of 2020, is an EHR-agnostic, HIPAA-compliant, secure solution that needs no EHR integration and enables quick provider/patient communication, engagement and data sharing without risk of disease transmission. The robust solution is designed to be user-friendly and operate without dedicated IT resources. A healthcare system, hospital or medical practice can have the solution up and running in hours, not days.
In January 2017, in an effort to expand revenue streams outside their traditional models, CPSI made a partnership with Caravan Health to form the CPSI ACOs powered by Caravan Health. Accountable Care Organizations ("ACOs") are groups of healthcare providers who come together voluntarily to give coordinated high quality care to Medicare patients.
Computer Programs and Systems Inc Mergers and acquisitions (M&A) Activities
In April 2019 CPSI acquired Get Real Health. Based in Rockville, Maryland, Get Real Health delivers technology solutions to improve patient outcomes and engagement strategies with care providers. Their broad set of cutting-edge products have garnered awards for the company and its clients and earned them a reputation as a vanguard in the healthcare information technology (IT) industry. Through a decade of connected health deployments, Get Real Health has established a presence in both domestic and international healthcare markets. Collaborating with organizations like TELUS Health, The University Hospital Southampton NHS Trust, and KeyHIE, Get Real Health delivers solutions to government and private organizations in Europe, Canada, Australia, and the United States.
Through this acquisition, CPSI will strengthen its position in community healthcare by offering three new comprehensive patient engagement and empowerment solutions that are offered by Get Real Health.
Computer Programs and Systems Inc Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Computer Programs and Systems Inc applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Computer Programs and Systems Inc and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Cloud EHR, Healthland Cloud customers.
Computer Programs and Systems Inc Overview
Ownership: - CPSI : NASDAQ
Number of Employees: 2000
Key Verticals: Healthcare,
Computer Programs and Systems Inc Key Cloud and HCM Applications
Cloud EHR, Healthland Cloud
Computer Programs and Systems Inc HCM and Cloud HCM Applications Revenues, $M:
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* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Computer Programs and Systems Inc Revenue Breakdown by Type:
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Computer Programs and Systems Inc HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2019 HCM Revenues, By Sub-Functional Markets, $M
Computer Programs and Systems Inc HCM Applications Revenues By Verticals, $M:
Computer Programs and Systems Inc Total and HCM Applications Revenues by Region:
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Computer Programs and Systems Inc Direct vs Indirect sales
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Computer Programs and Systems Inc Customers - Breakdown by Geo, Size, Vertical and Product
No. of Computer Programs and Systems Inc Customers: 1300
No. of Computer Programs and Systems Inc HCM Applications Customers: x
No. of Computer Programs and Systems Inc Cloud HCM Customers: x
No. of Computer Programs and Systems Inc Cloud HCM Subscribers: x
The combined company currently supports approximately 1,300 acute care facilities and over 3,300 post-acute care facilities with a geographically diverse customer mix within the domestic rural and community healthcare market. The company has a limited presence in the international healthcare IT marketplace after completing a new system installation in the Caribbean nation of St.Maarten during 2014.
CPSI customers are Bath County Community Hospital, Hot Springs, VA, Crane Memorial Hospital, Crane, TX, Huron Regional Medical Center, Huron, TX, Jacksonville Medical Center, Johnson County Healthcare Center, Buffalo, WY, Lillian M Hudspeth Memorial Hospital, Sonora, TX, Nor-Lea General Hospital, Lovington, NM, Prevost Memorial Hospital, Donaldsonville, LA, Sierra Vista Hospital.
Computer Programs and Systems Inc Market Opportunities, M&A and Geo Expansions
In August 2020 CPSI started working with Google Cloud to utilize its cloud platform services. This transition will leverage Google Cloud’s platform to support CPSI’s ongoing product innovation and speed‑to-market with new offerings and enhance performance for existing applications delivered by the CPSI family of companies. Leveraged across acute, ambulatory and post-acute care settings, the efficiencies gained with moving to Google Cloud’s platform are intended to make system training and delivery of enhancements much easier for clients, which, considering the resource constraints and pressures that are prevalent today in healthcare, is critical to their success.
CPSI offer Cloud EHR services to customers via remote access telecommunications. CPSI store and maintain all Cloud EHR customers’ critical patient and administrative data using its TruBridge Cloud Computing Services. These customers access this information remotely through direct telecommunications connections.
Evident Thrive EHR solution went live at 29 new hospital clients during 2017 (three of which were under a Cloud EHR arrangement, under which the related costs are all captured in the period of the installation with the resulting revenue recognized ratably over the contractual term as the services are provided) compared to 21 new hospital clients during 2016 (five of which were under a Cloud EHR arrangement).
Computer Programs and Systems Inc Risks and Challenges
There are a limited number of hospitals in their target market. Saturation or consolidation in the healthcare industry could result in the loss of existing clients, a reduction in their potential client base and downward pressure on the prices of their products and services.
The limited number of hospitals with 200 or fewer acute care beds in their general target market for their acute care product and service offerings has resulted in an ever narrowing market for new system installations which could materially and adversely impact their business, financial condition and operating results. In addition, the market for their products and services is competitive, and the company must expect additional competition from established and emerging companies in the future.
Their market is characterized by rapidly changing technology, global shifts in the healthcare system, evolving user needs and impactful regulatory and reimbursement changes.
Computer Programs and Systems Inc Ecosystem, Partners, Resellers and SI
In January 2020 CPSI and WorldQuant Predictive, a predictive analytics firm, formed an innovative partnership that will use advanced technology, including machine learning and artificial intelligence, to derive meaningful insights from real-world clinical evidence to improve healthcare outcomes for patients. Through this collaboration, CPSI and WorldQuant Predictive will seek to positively affect community healthcare, which could accelerate precision medicine, increase efficiency in the delivery of healthcare services and reduce overall healthcare costs. In addition, they will aim to develop models to improve decision support and benchmarks that could uncover and drive industry best practices for the community healthcare setting.
In May 2018, CPSI, a community healthcare solutions company, made a partnership with Alliance Health Partners, a hospital management and consulting company. The new partnership between CPSI and Alliance Health Partners includes the Thrive EHR system from Evident and the TruBridge revenue cycle management (RCM) solution, including RCM software coupled with billing and coding services that improve cash flow for community hospitals.
Healthcare facilities that take advantage of these joint offerings also have the option of financing the purchase of the Thrive EHR with a percentage of collections, therefore minimizing the disruption to the organization while sharing the financial risk.
Computer Programs and Systems Inc Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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