Computer Programs and Systems, Inc. (NASDAQ:CPSI) Q1 2018 Earnings Conference Call - Preliminary Transcript
May 03, 2018 • 04:30 pm ET
Ladies and gentlemen, thank you for standing by. And welcome to the CPSI First Quarter 2018 Earnings Conference Call. During the presentation, all
participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this call is being recorded,
Thursday, May 3, 2018.
I'd now like to turn the call over to Mr. Boyd Douglas, President and Chief Executive Officer with CPSI. Please go ahead.
John Boyd Douglas
Thank you, Aash. Good afternoon, everyone, and thank you for joining us. During this conference call, we may make statements regarding future operating plans, expectations and performance that constitute forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.
We caution you that any such forward-looking statements only reflect management expectations and predictions based upon currently available information and are not guarantees of future results or performance. Actual results might differ materially from those expressed or implied by such forward-looking statements as a result of known and unknown risk, uncertainties and other factors, including those described 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 provided in this call 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 call.
Joining me on the call today will be Matt Chambless, Chief Financial Officer; Chris Fowler, Chief Operating Officer; and David Dye, our Chief Growth Officer. At the conclusion of our prepared comments, we will be available to take any questions you may have. Our first quarter of 2018 finished with the strong revenue and earnings performance, and we remain well-positioned for a good year ahead of us. As the market continues to shift to value-based care so does the revenue generated from our traditional software licenses to services from our company TruBridge.
The community EHR business will always be core to the CPSI family, and it is foundational to the growth potential we see with TruBridge as that continues to fuel their sales engine. Maintaining the strength of our EHR foundation continues to be a priority, and our retention rates are reflective of our success today. We welcome 14 new community hospitals to the CPSI family in the first quarter of 2018, and the pipeline of activity tied to EHR buyers that are looking to return to us or replace their existing EHR vendor remains healthy, especially considering the dynamic of a saturated community EHR market.
As we have outlined previously, the demand to improve the efficiency and utilization related to revenue cycle across our acute and post-acute client base provides good growth opportunity through cross-selling of the TruBridge revenue cycle management solution, accounts receivable management, private pay and coding services.
TruBridge had 9% sequential revenue growth from Q4 of 2017; and 22% revenue growth