Computer Programs and Systems, Inc. (NASDAQ: CPSI), a leading provider of electronic medical record (EMR) systems to rural and community hospitals, today announced that more hospitals with under 100 beds that utilize the CPSI EMR system have received payments for electronic health record adoption than any other vendor, based on the latest information released by the Centers for Medicare and Medicaid Services (CMS).
According to the most recent detailed listing available from CMS ( Hospital Recipients of Medicare EHR Incentive Program Payments, September 30, 2011), 62 hospitals with under 100 acute care beds have received Medicare payments for “meaningful use” of a certified EMR under the American Recovery and Reinvestment Act (ARRA) of 2009. Based on research done by CPSI, 27 of those hospitals, or 44%, are users of the CPSI EMR system. That is three times more than its next closest competitor. Medicare payments made to those 27 hospitals for successfully meeting the ARRA’s Stage One requirements total more than $36 million.
“This information from CMS confirms what our internal monitoring has indicated since the attestation period opened,” said CPSI President and Chief Executive Officer Boyd Douglas. “Our hospital clients have been able to meet the Stage One Meaningful Use requirements and receive the resulting payments at a much higher rate than users of competitive EMR systems. The fact that they have been able to achieve this level of success despite having far less resources to devote to a project of this magnitude, as is typical of the rural and community hospital environment, is a testament to not only the system itself but to the efforts of the hospital staff working in conjunction with our dedicated ‘meaningful use’ support group.”
Mr. Douglas continued, “While we are very proud of the success these clients have achieved to date, we continue to work with many other clients towards their successful attestation and the subsequent payment. In fact, according to the most recent information provided to us by our clients, there are a total of 81 hospitals who utilize the CPSI EMR system that have successfully attested and received payments from Medicare and Medicaid totaling over $70 million. Another 25 of our clients have attested successfully and are awaiting payment. Therefore, to date, over 100 hospitals who utilize our EMR system have met the Stage One criteria and have either received their funds or are awaiting payment. Most importantly, these hospitals now have the tools in place to deliver more effective care in a safer environment resulting in better outcomes for their patients.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV