CPSI Adds Remote Pharmacy Services to Aid Small and Rural Hospitals with Efficiency, Quality of Care
MOBILE, Ala.--(BUSINESS WIRE)--Nov. 17, 2016-- CPSI (NASDAQ: CPSI), a leading provider of healthcare information solutions, today announced that the Company has teamed with PipelineRx to offer a cutting edge telepharmacy solution designed to help small and rural community hospitals provide first-class care. The remote pharmacy solution through PipelineRx will be sold by TruBridge, the member of the CPSI family that provides business, IT and management consulting and services.
“Adding remote, real-time medication order review and verification services to our broad set of healthcare IT solutions for community hospitals will help them overcome a very common resource challenge,” said Boyd Douglas, president and chief executive officer of CPSI.
San Francisco-based PipelineRx maintains a team of more than 100 experienced clinical pharmacists that uses best practices in medication management and verification to ensure accuracy, quality, safety, and optimal turnaround time 24/7. PipelineRx serves nearly 300 acute and specialty hospitals across the country.
“Our cost-effective model helps hospitals improve care and medication safety for their patient populations,” said Brian Roberts, chief executive officer of PipelineRx. “Our technology-enabled telepharmacy services will bring measurable clinical and fiscal value to acute and post-acute customers in the CPSI family of companies, and we are pleased to be teaming up on this collaborative, cloud-based solution.”
Douglas added, “We see this partnership as a great match for our company and for our customers. Addressing this very real need for additional resources fills our customers’ pharmaceutical coverage gap with professional, secure and premium-quality pharmacy services. We have begun the first phase of integration, which will bring the functionality and workflow associated with telepharmacy into our Evident and Centriq Electronic Health Records (EHR) solutions for the hospital setting. Once we complete this phase, we intend to integrate telepharmacy into our American HealthTech solutions for our post-acute customers.
“The PipelineRx announcement is the latest in a series of partnerships and product enhancements by CPSI designed to help community providers and leaders navigate the changing world of healthcare delivery, reimbursement and management,” Douglas concluded.
CPSI is a leading provider of healthcare IT solutions and services for rural and 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 company is 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 rural and community hospitals. TruBridge focuses exclusively on providing business management, consulting and managed IT services to rural and 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 and 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.
PipelineRx is the leading independent technology-enabled telepharmacy solutions provider serving nearly 300 acute and specialty hospitals. The Company’s pharmacy workforce solutions enable hospitals to dramatically increase operating efficiencies while ensuring medication efficacy, increasing patient safety, and improving clinical outcomes. PipelineRx differentiates its unique services via its integrated, private, cloud-based technology platform and its optimized, distributed telepharmacist network. PipelineRx is privately held and is headquartered in San Francisco, California.
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, shareholder returns 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.
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Tracey Schroeder, 612-787-3125
Chief Marketing Officer