Q4 2021 Computer Programs and Systems Inc Earnings Call

Speaker 1: annual TrueBridge revenues from outside of our EHR base by the end of 2024. Year-to-date sales, including TrueCode, were just over $7.4 million. And while the fourth quarter net new TrueBridge sales were down compared to recent past quarters, we remain encouraged by generation of interest and the positive pipeline trends as a result of our sales and marketing focus upmarked.

From outside of our EHR base by the end of 2024 year to date sales, including true code, where just over seven 4 million.

And while the fourth quarter net new true bridge sales were down compared to recent past quarters. We remain encouraged by generation of interest and the positive pipeline trends as a result of our sales and marketing focus upmarket.

2021 was the beginning of a journey of transformational change within our operations that enabled us to realize a $4 $3 million annual run rate in cost savings as we exited 2021.

Speaker 1: 2021 was the beginning of a journey of transformational change within our operations that enabled us to realize a $4.3 million annual run rate in cost savings as we exited 2021.

Speaker 1: These cost savings set us up nicely to build on our momentum as we head into 2022, where we anticipate $7 to $9 million in annual run rate savings.

These cost savings set us up nicely to build on our momentum as we head into 2022, where we anticipate $7 million to $9 million in annual run rate savings.

Speaker 1: With continued focus through 2023, we expect to realize annual run rate cost savings of $11 million to $15 million as we exit 2023 and enter 2024.

With continued focus through 2023, we expect to realize annual run rate cost savings of 11 million to $15 million as we exit 2023 and enter 2024.

Speaker 1: The execution of key initiatives, such as offshoring, automation of core tree bridge services, and the organizational realignment earlier in the year were important contributors to our transformation and to supporting our core growth efforts and increasing efficiency.

The execution of key initiatives such as offshoring.

<unk> of core <unk> services, and the organizational realignment earlier in the year were important contributors to our transformation and to supporting our core growth efforts and increasing efficiencies in 2021 operational initiatives helped us to achieve an adjusted EBITDA of $52 7 million.

Speaker 1: In 2021, our operational initiatives helped us to achieve an adjusted EBITDA of $52.7 million and raising EBITDA margins to nearly 19 percent, their highest level since 2015.

And racing EBITDA margins to nearly 19% their highest level since 2015 over.

Speaker 1: Over the next three years, we will continue to seek to optimize margins, further supporting our 2024 adjusted EBITDA target of $80 million.

Over the next three years, we will continue to seek to optimize margins further supporting our 2024 adjusted EBITDA target of $80 million.

As we are all acutely aware the COVID-19 pandemic has created strain across the healthcare market with the burnout employee CFL hospitals, and other health care organizations around the country have struggled to staff their facilities as the omicron variance spread in the fourth quarter.

Speaker 1: As we are all acutely aware, the COVID-19 pandemic has created strain across the healthcare market. With the burnout employees have felt, hospitals and other healthcare organizations around the country have struggled to staff their facilities as the Omicron variant spread in the fourth quarter.

Speaker 1: We have seen firsthand the impact that the great resignation is having on hospitals and skilled nursing facilities. The jump in staffing costs and the strain on the mental health of health care workers has created a stress on health care organizations that has made their ability to maintain safe staffing levels very difficult, and even sometimes forcing them to cut back services.

We have seen firsthand the impact with the great resignation is having on hospitals and skilled nursing facilities. The jump in staffing cost and the strain on the mental health of healthcare workers has created a stress on healthcare organizations that has made their ability to maintain safe staffing levels very difficult and even sometimes force.

<unk> them to cut back services.

Speaker 1: These dynamics have contributed to the rethinking of how, when, and where health care is delivered.

These dynamics have contributed to the rethinking of how when and where health care is delivered these market priorities are the drivers behind our commitment to improving the health care experience for providers and consumers through automation as well as digital innovation, including our digital front door solutions.

Speaker 1: These market priorities are the drivers behind our commitment to improving the healthcare experience for providers and consumers through automation as well as digital innovation.

Speaker 1: including our digital front door solutions from GetRealHealth and the expansion of our RCM offerings to help improve the experience, satisfaction, and trust between consumers and their health care providers.

Get real health and the expansion of our RCM offerings to help improve the experience satisfaction and trust between consumers and their healthcare providers.

Speaker 1: Last quarter, we shared that our patient engagement business, GetRealHealth, had been selected by a large US-based healthcare system as their digital front door solution.

Last quarter, we shared that our patient engagement business get real health had been selected by a large U S based health care system as their digital front door solution we.

Speaker 1: We are on track with implementing their digital front door and expect it to be live before the end of the first quarter this year, which will connect into their non-CPSI ambulatory and inpatient EHRs, enabling 12.3 million patients to easily be involved in their own care and wellness.

We are on track with implementing their digital front door and expect it to be live before the end of the first quarter of this year, which will connect into their non CPO side ambulatory and inpatient EHR, enabling $12 3 million patients to easily be involved in their own care and wellness in.

Speaker 1: In addition, as we ended the year, our footprint in the Canadian patient engagement market continued to gain momentum as there are now more than 1.8 million digital front door licenses residing primarily in the Canadian provinces of Alberta and Saskatchewan. We expect to have 2 million licenses by the end of the second quarter this year.

<unk> as we ended the year our footprint in the Canadian patient engagement market continued to gain momentum as they are now more than one 8 million digital front door licenses residing primarily in the Canadian provinces of Alberta in Saskatchewan, We expect to have 2 million licenses by the end of the second.

Quarter of this year.

Speaker 1: With that, I would like to turn the call over to Matt for a deeper dive into our financial results. Thanks, Boyd, and good afternoon, everyone. On today's call, I'll provide a high-level low review of the quarter, including some additional detail on bookings performance, a brief walkthrough of our fourth quarter financial results, and our outlook for 2022.

With that I would like to turn the call over to Matt for a deeper dive into our financial results. Thanks, Boyd and good afternoon, everyone.

On today's call I'll provide a high level overview of the quarter, including some additional detail on bookings performance.

<unk> walked through our fourth quarter financial results and our outlook for 2022.

Speaker 2: Before we dive into the details, the fourth quarter showed somewhat mixed results.

Before we dive into the details the fourth quarter showed somewhat mixed results.

Speaker 2: While bookings disappointed versus internal expectations after a superb third quarter, actual results on both the top and bottom lines continue to reflect Truebridge's operational

Bookings disappointed versus internal expectations. After a superb third quarter actual results on both the top and bottom lines continued to reflect true bridges operational excellence.

Speaker 2: Organically, TrueBridge revenues grew by 18% over the fourth quarter of 2020 with further inorganic growth coming from our acquisition of TrueCode in May of 2021.

Organically Trowbridge revenues grew by 18% over the fourth quarter of 2020 with further inorganic growth coming from our acquisition of <unk> in May of 2021.

<unk> continues to perform according to plan with a quarterly revenue contribution of $3 2 million absent purchase accounting adjustments and $1 $6 million of incremental EBITDA.

Speaker 2: TrueCode continues to perform according to plan with a quarterly revenue contribution of $3.2 million to absent purchase accounting adjustments and $1.6 million of incremental EBIT dollars.

Full year contributions since the acquisition are $7 8 million in revenues absent the purchase accounting adjustments and $3 9 million of EBITDA.

Speaker 2: Full year contributions since the acquisition are $7.8 million in revenues, absent purchase accounting adjustments, and $3.9 million of EBIT.

Speaker 2: On a pro forma basis, including pre-acquisition amounts, Truecode generated revenues of $13.4 million during 2021, along with EBITDA of $6 million.

On a pro forma basis, including pre acquisition amounts trucco generated revenues of $13 4 million during.

During 2021, along with EBITDA of $6 million.

Speaker 2: Moving on to bookings, the explosive growth we saw in the third quarter set the bar really high, but unfortunately not all of that momentum carried over into the fourth quarter.

Moving onto bookings the explosive growth we saw in the third quarter set the bar really high but unfortunately, not all of that momentum carried over into the fourth quarter.

Total bookings were down 47% against last quarter's near record performance and 27% below the fourth quarter of 2020.

Speaker 2: Total bookings were down 47% against last quarter's near-record performance and 27% below the fourth quarter of 2020.

Speaker 2: System sales and support bookings were down 49% sequentially and 26% compared to the fourth quarter of 2020 due to a slowed pace for net new acute care EHR decisions.

System sales and support bookings were down 49% sequentially and 26% compared to the fourth quarter of 2020 due to a slower pace for net new acute care EHR decisions.

Speaker 2: You may recall that the third quarter's net new hospital EHR bookings were more than double our quarterly average from the past couple of years.

You may recall that the third quarter's net new hospital EHR bookings were more than double our quarterly average from the past couple of years.

Speaker 2: While we weren't able to maintain that pace in the fourth quarter, net new hospital EHR bookings were still more than double the pace from the first half of 2021.

While we werent able to maintain that pace in the fourth quarter net new hospital EHR bookings were still more than double the pace from the first half of 2021.

A bright spot for our EHR bookings over the past 18 months or so has been the continued shift towards SaaS and away from the old perpetual license model.

Speaker 2: A bright spot for our EHR bookings of the past 18 months or so has been the continued shift towards SAS and away from the old perpetual license model.

Speaker 2: Including add-on sales, SAS or subscription arrangements made up 54% of the quarter's total EHR bookings.

Including add on sales SaaS or subscription arrangements made up 54% of the quarter's total EHR bookings.

Speaker 2: For the quarter and year to date, SAS arrangements have made up 100% of our net new hospital EHR contract signings after averaging around 50% for 2019 and 2020.

For the quarter and year to date SaaS arrangements have made up 100% of our net new hospital EHR contracts signings after averaging around 50% for 2019 and 2020.

Speaker 2: By steering more business towards SAS offerings, we're increasing the prevalence of recurring revenues within our top line mix, leading to enhanced predictability for revenues and cash.

By steering more business towards SaaS offerings, we are increasing the prevalence of recurring revenues within our topline mix, leading to enhanced predictability for revenues and cash flows.

Through bridges, seven $3 million of bookings were 44% of the third quarter's record pace and were 27% lower than the fourth quarter of 2020.

Speaker 2: Troubridge's $7.3 million of bookings were 44% off the third quarter's record pace and were 27% lower than the fourth quarter of 2020.

The third quarter of this year was a banner quarter for get real health patient engagement solutions driving record bookings that bested our prior record by more than 20% and making for a particularly tough comp for the fourth quarter.

Speaker 2: The third quarter of this year was a banner quarter for GetReal Health's patient engagement solutions, driving record bookings that bested our prior record by more than 20% and making for a particularly tough comp for the fourth quarter.

Other than get real health bookings from outside our EHR base decreased by $4 1 million from the previous quarter and $3 million from the fourth quarter of 2020, a symptom of the growing pains. We expect from this initiative as we continue to create scale with the net new business for true bridge.

Speaker 2: Other than get real help, bookings from outside our EHR base decreased by $4.1 million from the previous quarter and $3 million from the fourth quarter of 2020, a symptom of the growing pains we expect from this initiative as we continue to create scale with the net new business for True Blue.

Speaker 2: Cross-sale bookings for Truebridge increased 44% sequentially to arrive at their highest levels of the year, but were 18% below the fourth quarter of 2020's amount.

Cross sell bookings for true bridge increased 44% sequentially to arrive at their highest levels of the year, but were 18% below the fourth quarter of 2000 Twenty's amounts.

Speaker 2: Looking back at full year bookings, the drought from the first half of 2021 set us considerably behind plan.

Looking back at full year bookings the drought from the first half of 2021 set us considerably behind plan, while sales momentum improved in the second half 2021 total system sales and support bookings of nearly $41 million were 16% below 2020 levels, while true bridges fully.

Speaker 2: While sales momentum improved in the second half, 2021's total system sales and support bookings of nearly $41 million were 16% below 2020 levels, while Truebridge's full year bookings of $29.3 million were 12% down year over year.

<unk> bookings of $29 3 million or 12% down year over year.

While overall are down year for bookings 2021 saw successful execution on our initiatives to increase the SaaS mix within net new hospital EHR contracts and the blossoming of get real health is a contender in the patient engagement arena with bookings, increasing nearly 270% from 2020 levels.

Speaker 2: While overall a down year for bookings, 2021 saw successful execution on our initiative to increase the SAS mix within net new hospital EHR contracts and the blossoming of GetRealHealth as a contender in the patient engagement arena with bookings increasing nearly 270% from 2020 level.

<unk>.

Speaker 2: Turning to the financials, a strong quarter for TrueBridge and GetRealHealth drove a 5.6% sequential revenue increase and worked in tandem with the recent addition of TrueCode to lift the top line by nearly 11% over the fourth quarter of 2020.

Turning to the financials, a strong quarter for true bridge and get real health drove a five 6% sequential revenue increase and worked in tandem with the recent addition of <unk> to lift the top line by nearly 11% over the fourth quarter of 2020.

Recurring revenues increased nearly 7% sequentially and nearly 17% from the fourth quarter of 2020.

Speaker 2: Recurring revenues increased nearly 7% sequentially and nearly 17% from the fourth quarter of 2020.

Speaker 2: Excluding the recent Truecode acquisition, organic recurring revenue growth was 11% over the fourth quarter of 2020.

Excluding the recent <unk> acquisition organic recurring revenue growth was 11% over the fourth quarter of 2020.

Speaker 2: Recurring revenues made up 93% of total revenues for the past quarter compared to 92% in the third quarter and 88% in the fourth quarter of 2020.

Recurring revenues made up 93% of total revenues for the past quarter compared to 92% in the third quarter and 88% in the fourth quarter of 2020.

On the profitability front, the sequential three $9 million revenue increase drove adjusted EBITDA and non-GAAP net income to increase over the previous quarter of 17% and 19% respectively.

Speaker 2: On the profitability front, the sequential $3.9 million revenue increase drove adjusted EBITDA and non-GAAP net income to increases over the previous quarter of 17% and 19% respectively.

Speaker 2: Compared to the fourth quarter of 2020, declining non-recurring revenues were a drag on margins, limiting the adjusted EBITDA increase to $2 million or 16% on the $7.2 million revenue gain, still at a healthy 28% incremental EBITDA margin.

Compared to the fourth quarter of 2020 declining nonrecurring revenues were a drag on margins limiting the adjusted EBITDA increased $2 million or 16% on the $7 $2 million revenue gain still at a healthy 28% incremental EBITDA margin.

Speaker 2: TrueCode's contribution to EBITDA for the quarter was $1.6 million, so organic EBITDA growth over the fourth quarter of 2020 was limited to $400,000 due to the heavy margin impact of the $2.8 million decrease in overall non-recurring revenue.

<unk> contribution to EBITDA for the quarter was $1 $6 million, so organic EBITDA growth over the fourth quarter of 2020 was limited to $400000 due to the heavy margin impact of the $2 $8 million decrease in overall nonrecurring revenues.

For the full year total revenues of $286 million were just north of the midpoint of our guidance range of $275 million to $285 million.

Speaker 2: For the full year, total revenues of $280.6 million were just north of the midpoint of our guidance range of $275 million to $285 million, which we updated in May following the acquisition of Truecode.

Which we updated in May following the acquisition of Trucost.

Annual revenues grew by $16 1 million or 6% as recurring revenue expansion of $31 2 million or 14% more than doubled the overall decrease in nonrecurring revenues of $15 1 million or nearly 40%.

Speaker 2: Annual revenues grew by $16.1 million, or 6%, as recurring revenue expansion of $31.2 million, or 14%, more than doubled the overall decrease in non-recurring revenues of $15.1 million, or nearly 40%.

Speaker 2: Organically, total revenues grew by $9.1 million or 3.4%, while organic recurring revenue growth was $23.1 million or 10.2% compared to our expected long-term average organic recurring revenue growth range of 5% to 8%.

Organically total revenues grew by $9 1 million or three 4%, while organic recurring revenue growth was $23 1 million or 10, 2% compared to our expected long term average organic recurring revenue growth range of 5% to 8%.

This revenue growth coupled with improved labor capitalization rates drove adjusted EBITDA to a $9 $3 million or 21% increase over 2020 with EBITDA margins, improving nearly 240 basis points to 18, 8% and towards the high end of our expected range of.

Speaker 2: This revenue growth coupled with improved labor capitalization rates drove adjusted EBITDA to a $9.3 million or 21% increase over 2020, with EBITDA margins improving nearly 240 basis points to 18.8% and towards the high end of our expected range of 18 to 19%, which we updated on the second quarter earnings call.

18% to 19%, which we update during the second quarter earnings call.

As a percentage of total revenues recurring revenues increased from less than 86% in 2020% to 92% in 2021.

Speaker 2: As a percentage of total revenues, recurring revenues increased from less than 86% in 2020 to 92% in 2021.

Speaker 2: Looking deeper at our segments, TrueBridge revenues increased 12% sequentially behind a particularly strong period for GetReal Health's patient engagement solutions and continued momentum for our accounts receivable management service line, driving gross margins to expand 200 basis points to a record high of nearly 52%.

Looking deeper at our segments Trowbridge revenues increased 12% sequentially behind a particularly strong period for get real health patient engagement solutions and continued momentum for our accounts receivable management service line driving gross margins to expand 200 basis points to a record high of nearly 52%.

Compared to the fourth quarter of 2022 bridge revenues increased by over 28%, while gross margins increased 70 basis points with a $3 $1 million contribution from <unk> being the largest driver of the revenue increase.

Speaker 2: Compared to the fourth quarter of 2020, Truebridge revenues increased by over 28% while gross margins increased 70 basis points with a $3.1 million contribution from Truecode being the largest driver of the revenue.

Speaker 2: Organic revenue growth for TruBridge was $5.4 million, or 18% compared to the fourth quarter of last year, with GetRealHealth and accounts receivable management driving the organic growth.

Organic revenue growth for true bridge was $5 4 million or 18% compared to the fourth quarter of last year with get real health and accounts receivable management driving the organic growth.

Speaker 2: Next, system sales and support revenues were relatively flat sequentially as the $1.3 million decrease in non-recurring revenues slightly outpaced the $900,000 increase in recurring revenues, while the timing of certain third-party licenses brought margins down 330 basis points to 48% from 51% in the third quarter.

Next system sales and support revenues were relatively flat sequentially as the $1 $3 million decrease in nonrecurring revenues slightly outpaced the $900000 increase in recurring revenues, while the timing of certain third party licenses brought margins down 330 basis points to 40.

8% from 51% in the third quarter.

Speaker 2: Compared to the fourth quarter of 2020, overall system sales and support revenues decreased $1.4 million, or 4%, as the $2 million decrease in non-recurring revenues outpaced the $600,000 increase in recurring revenue.

Compared to the fourth quarter of 2020 overall system sales and support revenues decreased $1 4 million or 4% as the $2 million decrease in nonrecurring revenues outpaced the $600000 increase in recurring revenues.

Speaker 2: Gross margins decreased to 48% from the fourth quarter of 2020, 52%.

Gross margins decreased to 48% from the fourth quarter of 2020, 52%.

Speaker 2: We currently anticipate eight new client facilities going live with our Thrive solution in the first quarter of 2020, and all are expected to go live in a cloud or SaaS environment.

We currently anticipate eight new client facilities going live with our thrive solution in the first quarter of 2020, and all are expected to go live in a cloud or SaaS environment.

Moving onto operating expenses product development costs were flat sequentially and decreased $500000 or 6% from the fourth quarter of 2020 due to increased labor capitalization.

Speaker 2: Moving on to operating expenses, product development costs were flat sequentially and decreased $500,000 or 6% from the fourth quarter of 2020 due to increased labor capitalization.

As mentioned on previous calls earlier in 2021, we worked with external subject matter experts to adopt best practices for labor capitalization and agile software development environment, resulting in higher labor capitalization rates that we feel better reflect the investments we've been making to bring incremental functionality and features.

Speaker 2: As mentioned on previous calls, earlier in 2021, we worked with external subject matter experts to adopt best practices for labor capitalization in an agile software development environment, resulting in higher labor capitalization rates that we feel better reflect the investments we've been making to bring incremental functionality and features to our EHR product.

Through our EHR products.

Speaker 2: Sales and marketing costs increased $1 million sequentially and $900,000 over the fourth quarter of 2020 due to increased spend related to our virtual user conference, increased sales travel, and marketing program costs.

Sales and marketing cost increased $1 million sequentially and $900000 over the fourth quarter of 2020 due to increased spend related to our virtual user conference increased sales travel and marketing program costs.

General and administrative costs decreased to $5 million from the third quarter, mostly due to lower benefit cost is employee health claims normalized after a particularly tough third quarter and timing dynamics with our 401K match.

Speaker 2: General and administrative costs decreased $2.5 million from the third quarter, mostly due to lower benefit costs as employee health claims normalized after a particularly tough third quarter and timing dynamics with our 401k match.

G&A costs were down $5 million from the fourth quarter of 2020 as bad debt normalized from the fourth quarter of 2000, Twenty's high levels and nonrecurring charges decrease.

Speaker 2: G&A costs were down a half million dollars from the fourth quarter of 2020 as bad debt normalized from the fourth quarter of 2020's high levels and non-recurring charges decreased.

Speaker 2: Closing out the income statement, our effective tax rate for the quarter decreased to 23% compared to 28% in the third quarter and 43% in the fourth quarter of 2020. This brings our full year effective tax rate to 20%.

Closing out the income statement, our effective tax rate for the quarter decreased to 23% compared to 28% in the third quarter and 43% in the fourth quarter of 2020.

This brings our full year effective tax rate to 20%.

Speaker 2: From a cash flow standpoint, operating cash flows of $13.3 million rebounded as expected from last quarter's timing-driven nearly five-year low of $1.3 million.

From a cash flow standpoint, operating cash flows of $13 3 million rebounded as expected from last quarters timing driven nearly five year low of $1 3 million.

The fourth quarter strength in operating cash flows brought annual amounts to $47 7 million or 91% of adjusted EBITDA over that timeframe.

Speaker 2: The fourth quarter strength and operating cash flows brought annual amounts to $47.7 million or 91% of adjusted EBITDA over that time frame.

Speaker 2: This strength in operating cash flows has allowed CPSI to limit our year-over-year increase in bank debt to $22 million despite funding the entire $61 million purchase price for TrueCode out of Revolver Pro.

This strength in operating cash flows has allowed cps side to limit our year over year increase in bank debt to $22 million. Despite funding the entire $61 million purchase price for <unk> out of revolver proceeds.

The decrease in bank debt and the <unk> acquisition make for a nice segue into capital allocation, where our strategy prioritizes flexibility to have CBS Si optimally positioned to opportunistically deploy capital through a combination of M&A and internal investment and value based share repurchases.

Speaker 2: The decrease in bank debt and the TrueCode acquisition make for a nice segue into capital allocation where our strategy prioritizes flexibility to have CPSI optimally positioned to opportunistically deploy capital through a combination of M&A, internal investment, and value-based share repurchase.

With our recent acquisition of Trucost leverage currently sits at two one times well below our target of two five times EBITDA, ensuring that we remain well positioned to respond quickly to other opportunities that may arise.

Speaker 2: With our recent acquisition of TrueCode, leverage currently sits at 2.1 times well below our target of 2.5 times EBITDA, ensuring that we remain well positioned to respond quickly to other opportunities that may arise.

Speaker 2: We continue to groom our pipeline of potential M&A opportunities and build there's tremendous opportunity to enhance and supplement TrueBridge service offerings with reasonably valued tuck-ins.

We continue to groom our pipeline of potential M&A opportunities and builds there is tremendous opportunity to enhance and supplement through bridge service offerings with reasonably valued tuck ins.

Speaker 2: For this reason, our most significant use of capital in the fourth quarter was to reduce bank debt to free up dry powder for future M&A.

For this reason our most significant use of capital in the fourth quarter was to reduce bank debt to free up dry powder for future M&A.

Speaker 2: Capital allocation decisions generally involve some tradeoffs, and as a result, share repurchases were minimal for the quarter.

Capital allocation decisions generally involve some trade offs and as a result share repurchases were minimal for the quarter.

Speaker 2: However, we'd like to remind investors the cadence and volume of our repurchases have been and will continue to be influenced by a number of factors, certainly considering value but also considering capital needs and availability, potential M&A, cost of replacement capital and other capital allocation alternatives.

However, we'd like to remind investors that the cadence and volume of our repurchases have been and will continue to be influenced by a number of factors certainly considering value, but also considering capital needs and availability potential M&A cost of replacement capital and other capital allocation alternatives.

Speaker 2: These alternatives and priorities in capital allocation are ever-evolving, so a lack of repurchase activity in a given quarter may not reflect our views on the intrinsic value of our stock.

These alternatives and priorities and capital allocation our ever evolving so a lack of repurchase activity in a given quarter may not reflect our views on the intrinsic value of our stock.

To close out our prepared remarks, we're proud of the progress we've made during 2021 enhancing the top line with a continued focus on growing recurring revenue sources and driving margin expansion as we execute on our cost optimization efforts.

Speaker 2: To close out our prepared remarks, we're proud of the progress we've made during 2021, enhancing the top line with a continued focus on growing recurring revenue sources and driving margin expansion as we execute on our cost optimization efforts.

Top line growth is expected to continue into 2022 as we execute on true <unk> opportunities for growth in both the cross sell and net new markets with incremental margin improvement coming from our joint initiatives of offshoring and automation.

Speaker 2: Top line growth is expected to continue into 2022 as we execute on true bridges opportunities for growth in both the cross-sale and net new markets with incremental margin improvement coming from our joint initiatives of offshoring and automation.

Speaker 2: With these wins at our backs, we enter 2022 with a number of exciting initiatives, including the migration of our EHR applications and underlying customer data to the public cloud, an endeavor we'll provide more color on as the year progresses.

Speaker 2: Our long-term expectation for average annual organic recurring revenue growth remain unchanged at 5 to 8% driven by continued true bridge growth and the increased prevalence of SAS EHR range.

Speaker 2: As for 2022, we anticipate total revenues of $288 million to $298 million with the midpoint of this range representing roughly 4.5% revenue growth over 2021 with growth from continued organic and inorganic expansion of recurring revenue sources hampered by the continued decline in non-recurring revenue.

As for 2022, we anticipate total revenues of $288 million to $298 million with the midpoint of this range representing roughly four 5% revenue growth over 2021 with growth from continued organic and inorganic expansion of recurring revenue sources hampered.

By the continued decline in nonrecurring revenues.

Speaker 2: This top line growth helps drive certain internal investments, such as our public cloud initiative, while also allowing for margin preservation.

This topline growth helps drive certain internal investments such as our public cloud initiatives, while also allowing for margin preservation.

Speaker 2: As a result, we envision 2022 adjusted EBITDA margins to land in the range of 18.25% to 19.25% with the midpoint of this range and lockstep with 2021's adjusted EBITDA margin.

As a result, we envision 2022, adjusted EBITDA margins to land in the range of $18, two 5% to $19 two 5% with the midpoint of this range in lock step with 2021 adjusted EBITDA margin.

Speaker 2: In terms of cash generation, we expect 2022 operating cash flows to represent roughly 80% to 85% of adjusted EBIT.

In terms of cash generation, we expect 2022 operating cash flows to represent roughly 80% to 85% of adjusted EBITDA.

One year ago, we laid out our vision of leveraging true bridge as a growth agent and focusing margin optimization initiatives around organizational structure increased utilization of our offshore networks and innovation through automation.

Speaker 2: One year ago, we laid out our vision of leveraging TrueBridge as a growth agent and focusing margin optimization initiatives around organizational structure, increased utilization of our offshore networks, and innovation through automation.

Speaker 2: This vision was with a clear target of achieving $80 million of adjusted IPTA by 2024, eventually maintaining IPTA margins in excess of 20%.

This vision was with a clear target of achieving $80 million of adjusted EBITDA by 2024, eventually maintaining EBITDA margins in excess of 20%.

Speaker 2: As we reflect back on the challenges and opportunities that 2021 presented, we're pleased with the progress we've made to date around those goals and look forward to improved execution during 2022 as we continue on our path of innovation and transformation. And with that, we'd like to open up.

As we reflect back on the challenges and opportunities that 2021 presented we're pleased with the progress we've made to date around those goals and look forward to improved execution. During 2022 as we continue on our path of innovation and transformation and with that we'd like to open up the line for questions.

Thank you we will now be conducting a question and answer session. If you would like to ask a question. Please press star one on your telephone keypad, a confirmation tone will indicate that your lineup in the question queue. You May Press Star two if you would like to remove your question from the queue for participants using speaker equipment. It may.

Speaker 2: Thank you. We will now be conducting a question and answer session. If you would like to ask a question, please press star 1 on your telephone keypad. The confirmation tone will indicate that your line is in the question queue. You may press star 2 if you would like to

Speaker 2: For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment, please.

It would be necessary to pick up your handset before pressing the star Q1 moment.

Please while we poll for questions.

Speaker 2: Thank you. Our first question comes from Jeff Garrow with Piper Sandler. Please proceed with your question. Hi.

Thank you. Our first question comes from Jeff Garro with Piper Sandler. Please proceed with your question.

Hi, good afternoon, and thanks for taking the question well start with a few on the demand side and recognize that a milestone a true bridge hitting.

Speaker 3: So, yeah, start with a few on the demand side and recognize the milestone of true bridge hitting.

A majority of revenue in the quarter I know that's been a goal for some time, so nice to see that achieve but on the demand side for sure a bridge. If we if we exclude true code and get real health.

Speaker 3: If we exclude true code and get real health, the way I see it, true bridge bookings are down from both FY20 and FY19, but I certainly heard a lot of optimism on the pipeline. So I was hoping that you could reflect on true bridge, that core true bridge, RFP volume, and win rate for the year, and then how you would expect those to trend in FY22. Hey, Jeff. David Dye here. We are very confident in the pipeline, the true bridge, stand-alone, in other words,

The way I see it through good bookings are down for both FY 'twenty and FY 19.

<unk> certainly heard a lot of optimism on the pipeline. So was hoping that you could reflect on <unk> and <unk>.

Cord through bridge RFP volume and win rate for the year and then how you would expect those to trend in FY 'twenty two.

Speaker 4: Hey, Jeff, David Dye here.

Hey, Jeff David dye here.

We are very confident in the pipeline with true bridge Standalone in other words without get real health and without true could possibly entering 2022.

Speaker 4: We are very confident in the pipeline. TrueBridge, standalone, in other words, without GetRealHealth and without TrueCode, pipeline entering 2022.

Speaker 4: Um, what is that an all time high? Um, we have certainly increased our marketing efforts there. Um, it is legitimate to blame, um, cobit for at least some of the lack of execution in 2021. Um, in terms of delaying.

What is at an all time high we have certainly increased our marketing efforts there.

It is legitimate to blame COVID-19 for at least some of the lack of execution in 2021.

In terms of delaying decisions our win rate was consistent with what it had been in previous years.

Speaker 4: Our win rate was consistent with what it had been in previous years.

Speaker 4: So, you know, you combine those things with where we see the pipeline right now, the activity that we're seeing. The fact that we're, generally speaking, there are still a few exceptions. We are able now to, one, participate in conferences, which have done a great deal for us in generating leads in the past, in particular in the upmarket, and two, to travel on site and meet, you know, with the business office managers and the CFOs, et cetera, face to face.

So you know when you combine those things with where we see the pipeline right now the activity that we're seeing the fact that we're.

Generally speaking there are still a few exceptions, we are able now to one participate in conferences, which they've done a great deal for us in generating leads in the past in particular in the upmarket into to travel onsite and meet with.

With the business office managers, and the CFO et cetera face to face, our particularly confident as we enter 2022 from Trowbridge booking standpoint.

Speaker 4: We're particularly confident as we enter 2022 from a true bridge booking standpoint.

Speaker 3: That helps. And then maybe to hit the other segment on the demand side, acute EHR go live, down year over year. I saw that seems to be maybe a disruption in the fourth quarter. I know you had expected sixth and we're a little bit short of that. I imagine Omicron might have started to factor in there. But just if we look bigger picture demand on the acute EHR side, what's an appropriate go forward expectation for annual go live?

Thanks that helps and then maybe to hit the other segment on the demand side.

Yeah HR go lives.

Down year over year.

Yes, some of that seems to be maybe a disruption in the fourth quarter I know you had expected.

We're a little bit short of that I imagine omicron might've, sorry to factor in there, but just if we look bigger picture demand on the acute EHR side, what's an appropriate go forward expectation for annual go lives.

Speaker 4: Yeah, approximately 20 per year, Jeff, in terms of net new acute go lives per year.

Yes, approximately 20 per year, Jeff in terms of.

Net new acute go lives per year.

Got it that makes sense.

Speaker 3: Yeah, that makes sense. And there's one more for me, a bigger picture question. Interesting to hear the remarks on the move to the public cloud. So, a few things there. Curious how you expect to avoid any disruption to clients. And then if you could give some broad remarks on the potential benefits, assuming some financial to CCSI, and then the benefits, whether they're technical or financial, to your clients as well. Do you have several?

One more from me a bigger picture question interesting to hear the remarks on the move to the public cloud.

A few things there curious how you expect to avoid any disruption to clients and then if you could give some broad remarks on the potential benefits of assuming some financial to Cps Si and then the benefits whether they are technical or financial to your clients as well.

Could you ask that last part again, Jeff.

Yes.

And in migration to the public cloud.

Speaker 3: pending migration to the public cloud, how you're going to avoid disruption to clients and then what benefits are from that will accrue to CPSI as well as to your clients.

Youre going to avoid disruption to clients and then what benefits are from that will accrue to <unk> as well as to your clients. Okay. Thanks for that Chris.

Speaker 4: Okay, thanks for that. This is Chris.

So the strategy of how we're how we're moving into the cloud is fairly similar to the approach we've taken with application development over the last several years.

Speaker 4: The strategy of how we're moving into the cloud is fairly similar to the approach we've taken with application development over the last several years as we've

As we've as we've.

Speaker 4: developed our applications into the cloud, again, over the last few years, our notes, our patient-aided console, and so the ability for us to migrate app at a time and allow our customers to be in multiple environments should minimize that disruption into where it's a big fork over from an on-prem or from a private cloud into the public cloud. So being very systematic and thoughtful about that approach.

<unk> developed our applications into the cloud.

Again over the last few years, our notes are patient added console and so the ability for us to migrate app at a time and allow our customers to be and multiple environment should should minimize that disruption into where it's a big.

Big Fork over.

From from an on Prem or from a private cloud into the public cloud so being very systematic and thoughtful about that approach, making sure from a from a technical standpoint that the scalability there.

Speaker 4: making sure from a technical standpoint that the scalability is there, and making sure that we've delivered that prior to pushing too much into the cloud. As far as the go-forward benefit,

And making sure that we deliver that prior to pushing too much into the end of the cloud.

As far as the go forward benefits of.

Speaker 4: Obviously, it allows us to have our data in a position to where we can exploit the technology that is becoming available more rapidly, and allow us to let our customers get the benefit of that. So, as we're seeing the trends, whether it be from a telehealth standpoint, whether it be some clinical application that's out there that we're not focused on developing internally, it allows us to bring that to our customers faster, and then also, as we think about it from a competitive standpoint.

Obviously, it allows us to have our data in a position to where we can exploit the technology that is becoming available more rapidly.

And allow us to let our customers get the benefit of that so as we're seeing the trends whether it be from a telehealth standpoint, whether it be.

Some some clinical application thats out there that we're not focused on developing it internally.

Allows us to bring that to our customers faster and then also as we think about it from a competitive standpoint too.

Speaker 1: And I'll just add on to that, from a technical point of view, it's going to relieve us for close to 40 years now. We've done all of the technical work ourselves from operating system level on up. And by moving to the cloud, a lot of those lower level operations can be turned over to the third party. And then we can concentrate on what it is we do best, which is write applications for the end users. So that's certainly a technical benefit for us.

I'll just add on to that.

From a technical point of view, it's going to relieve us.

40 years now we've done all of the technical work ourselves.

Operating system level on up and by moving to the cloud you know a lot of those lower level operations can be turned over to the third party and then we can concentrate on what it is we do best which is write applications for the end users. So that that certainly my technical benefit for us.

Speaker 5: And Jeff, one more addition here, as we innovate and as other folks out there innovate, whether it's on the front door or in the EHR space or patient-facing applications, etc., as we're in the public cloud, our EHR system sits in the public cloud, our customers are going to be able to take advantage of that innovation much more easily than they've been able to in the past. Excellent.

And Jeff is.

One more addition here.

As we innovate and as other.

There's other folks out there innovate whether it's on the front door or in the EHR space.

Patient facing applications et cetera are were.

We are in the public out of our EHR system system in the public cloud our customers are going to be able to take advantage of that innovation much more easily than they have been able to in the past.

Excellent I appreciate all the comments I'll jump back in the queue.

Speaker 2: Thank you. Our next question is from George Hill with Deutsche Bank.

Thank you. Our next question is from George Hill with Deutsche Bank. Please proceed with your question.

Speaker 6: Yeah, good afternoon, guys, and thanks for taking the question. I guess, Boyd and David, I guess looking forward to 2022, when you talk about the outlook for TruBridge, can you kind of parse out how much you're thinking about the utilization recovery, kind of driving procedure volumes and billing versus kind of new footprints and new customer wins?

Yes.

Afternoon, guys and thanks for taking the question I guess.

Boyd or David I guess looking forward to 2022, when you talk about the outlook for Trowbridge can you kind of parcel parse out how much you are thinking about the utilization recovery kind of dragging procedure volumes and billing versus kind of new footprints and new customer wins.

Yeah, Hey, George this is Chris.

Speaker 4: Yeah, hey, George, this is Chris. I would say, you know, if you look at the back half of 2021, you saw a pretty nice rebound from a utilization standpoint. We're seeing that stabilize. Maybe it's still slight uptick in that, you know, as, as, as we are, like, everybody else is kind of watching how COVID continues to impact, you know, knock on wood, we haven't seen any negative impact to the utilization.

I would say if you look at the back half of 2021, you saw a pretty nice rebound from a utilization standpoint, we're seeing that stabilize maybe it's still slight uptick in that.

As.

We are like everybody else is kind of watching how COVID-19 continues to impact.

What we haven't seen any negative impact to the utilization.

Speaker 4: On the elective side, obviously there's been a bit of a bolus

On the elective side, obviously, there has been a bit of a bolus as we think about outpatient utilization.

Speaker 4: for the care for COVID. So I would say from a, you know, existing customer, same store growth, we're probably looking at that being, you know, neutral to maybe slightly positive. So from a growth standpoint, really pressing on the new business aspect.

For the care for Covid.

I'd say from a from our existing customer same store growth, we're probably looking at that.

Neutral to maybe slightly positive so from a gross standpoint really for us at element on the new business aspect.

Okay. That's helpful. And then I guess, if I could just follow up with one on labor it seems to be a topic everybody is talking about on everybody's earnings call. I guess clearly your clients are seeing labor as a pressure point.

Speaker 6: Okay, that's helpful. And then I guess if I could just follow up with one on labor, it seems to be a topic everybody's talking about on everybody's earnings call. I guess clearly your clients are seeing labor as a pressure point to increase and drive partnership to True Bridge. I guess could you talk about what you guys are seeing from a labor aspect and if it's impacting your ability to retain or like do clients have confidence kind of making the transition given the labor challenges everywhere? Yeah.

Increase in drive partnership to Trowbridge I guess could you talk about what you guys are seeing from a labor aspect.

And if it's impacting your ability to retain or like our declines have confidence by making the transition given the labor challenges everywhere.

Yes.

Obviously, where we're dealing with the same thing everybody else is.

Speaker 4: Obviously, we're we're dealing with the same thing everybody else is luckily for us. I guess you would say

<unk> for US I guess, you would say.

Speaker 4: We were moving pretty fast on the offshore and also automation front.

We were moving pretty fast on the offshore and also automation front.

Speaker 4: And so that was a lever we were able to pull harder on to accelerate some opportunities there to be able to alleviate some of that pressure. Obviously, as we continue to do that, provides scale for us with the staff that we have, with that talented staff that we have internally, and allows them to do more for more customers. And so while having a CBO model allows us to be able to manage that.

So that was a lever we will we were able to pull.

Harder onto it to accelerate some some opportunities there to be able to alleviate some of that pressure obviously as we as we continue to do that provides scale for us with what the staff that we have with that talented staff that we have internally and allows them to do more for more customers.

And so while having a CBO model allows us to be able to manage that problem probably easier than any one hospital can do so so for us we're thinking of it as an opportunity to drive growth definitely.

Speaker 4: problem, probably easier than any one hospital can do so. So for us, we're thinking of it as an opportunity to drive growth, definitely.

Okay, and maybe I'll sneak in one last quick one one.

Speaker 6: Okay, and maybe I'll sneak in one last quick one. You know, one of your competitors, which had been working on penetrating the small hospital space, put themselves in a transaction with a big multi-vertical technology vendor. I know it's early, but any early observations to note in the competitive environment about customers being more willing to look at CPSI or maybe some of their customers in the small hospital space that worry about the acquisition might create opportunities for you guys?

One of your competitors, which had been working on penetrating the small hospital space got themselves in a transaction with a big multi vertical technology vendor.

I know, it's early but any any early.

Observation to note in the competitive environment of our customers being more willing to look at Cps higher maybe some of their customers in the small hospital space that worried about the acquisition might create opportunities for you guys.

Speaker 5: You know, well, we're certainly hopeful that it does create opportunity, George. I do think just to be honest, it's too early to say that we've seen a change since that's been announced in terms of the, the, the sales cycle or the demand or who we're competing against. I think probably 3 months from now, we'll be in a better position and certainly 6 months a much better position to answer that question. You know, obviously, you know, who you're referring to here has always been a.

We're certainly hopeful that it does create opportunity, Georgia I do think just to be honest, it's too early to say that we've seen.

Since that's been announced in terms of the sales cycle or the demand or who we're competing against.

I think probably three months from now we'll be in a better position than certainly six months a much better position to answer that question.

Obviously.

Who you're referring to here has always been.

Speaker 5: a credible competitor, we expect that will continue regardless of the acquisition. You know, they obviously, it's going to create some interesting challenges for them. They've got to change gears and navigate a cloud platform strategy, you know, etc. So, you know, we'll be obviously keenly interested in how that transpires, but we'll probably have more color in three months.

A credible competitor and we expect that that will continue regardless of.

The acquisition, obviously it is going to create some interesting challenges for them they've got.

To change gears and navigate a cloud platform strategy et cetera. So it will be we'll be obviously keenly interested in how that transpires, but.

You will probably have more color in three months.

But that's about what I thought I appreciate that color guys. Thank you.

Yeah.

Okay.

Speaker 2: Thank you. Our next question comes from Donald Hooker with KeyBank. Please proceed with your...

Thank you. Our next question comes from Donald Hooker with Keybanc. Please proceed with your question.

Speaker 3: Great. Yeah, I was going to ask about George's question as well. But maybe can you just expand? I mean, the retention rate looks really strong. Can you talk about the competitive environment, kind of beyond maybe Cerner and some of the other challengers in the field? It sounds like you're doing really well with the retention. Yeah.

Great Yeah, I was going to ask about.

Hi, Georges question as well, but maybe can you just expand on the retention rate looks really strong can you talk about the competitive environment kind of beyond maybe sooner than some of the other challengers in the field it sounds like Youre doing really well with the retention.

Yes, Thanks Donald.

Speaker 5: Not a whole lot of change there, frankly. I mean, from a competitive environment standpoint, we see and are given opportunities, in particular, in terms of the big three.

Not a whole lot of change there frankly, I mean from a competitive environment standpoint.

We are seeing are given opportunities in particular win.

In terms of the big three win.

Speaker 5: hospitals are looking for perhaps something that's a little bit lower from a cost standpoint and certainly with our

Hospitals are looking for perhaps something that's a little bit lower from a cost standpoint, and certainly with our.

Speaker 5: you know, our new cloud solution. And, you know, as you've seen, we've been 100% SaaS now for more than a year. You know, that's something that we can reduce their overall cost of ownership from an EHR standpoint. So that's where we see opportunities there. And then beyond that, it's the same, you know, what we call the vulnerable vendors, you know, that are out there, the ones that have anywhere from 40 to 80 customers that, you know, as a result of the 21st Century Cures Act and the upcoming legislation, or just the fact that they want a more robust clinical EHR solution that brings us to the market.

Our new cloud solution.

As you've seen we've been a 100% SaaS now for more than a year.

It's something that we can reduce their overall cost of ownership from an HR standpoint, so thats, where we see opportunities there and then beyond that is the same what we call the vulnerable vendors.

That are out there the ones that have anywhere from 40 to 80 customers that as a result of the 20 <unk> century Cures act in the upcoming legislation or just the fact that they want a more robust clinical HR solution that brings us to the market.

Speaker 3: And then in terms of the bookings, you mentioned it was a little bit behind plan in the quarter. I don't know if you're willing to do this, but can you share with us what sort of is plan? You laid out an $80 million EBITDA target for 24. What are you thinking in terms of bookings that you need to get there in terms of cross-selling and whatnot? What is the right quarterly bookings for CPSI?

Okay and then in terms of the bookings you mentioned there was a little bit behind plan in the quarter I don't know if youre willing to do this but what can you share with us what sort of his plan you laid out an $80 million EBITDA target for 'twenty four.

What are you thinking in terms of sort of bookings that you need to get there in terms of cross selling and whatnot. What is the right quarterly bookings for <unk> Si generally.

Yeah, So Don we'd rather not guide on quarterly bookings or annual bookings, we haven't done that in the past and part of the reason for that is that.

Speaker 2: Yeah, so Don, we'd rather not guide on quarterly bookings or annual bookings. We haven't done that in the past and part of the reason for that is that bookings have some complexities involved in them and not all bookings are created equal. So there are many paths to get to a certain number, but not all those paths are as high quality as the others. So we want to sit on the sidelines there and not provide a quantitative number on bookings. Okay, that's it.

Bookings have some complexities involved in them and not all bookings are created equal. So there are many paths to get to a certain number but not all of those those paths are as high quality as the others. So we want to we want to sit on the sidelines, there and not provide quantitative number on bookings.

Okay, that's certainly fair.

Thank you.

Speaker 2: Thank you. Our next question is from Joy Chang with SVB Lear, Inc. Please proceed with your question.

Thank you. Our next question is from Joy Zhang with SVP Leerink. Please proceed with your question.

Hey, guys. Thank you for taking my question.

Speaker 7: Hey guys, thank you for taking my question. I'm glad to hear that there's greater uptake of GetRealHealth in the Canadian market. So, I was wondering if we can provide more color around what's driving this uptick in sales and is it from greater, you know, cross-selling into the provincial governments or is it from more sign-ups and overall greater engagement within the population?

Glad to hear that Theres greater uptake.

Get real health in the Canadian market. So I was wondering if you can provide more color around what's driving this uptick in sales and.

From greater cross selling into the provincial government alright, that's one more sign ups and overall greater engagement within that population.

Speaker 5: Yeah, hey, joy simply, it's just more cross selling into the existing spaces currently in Alberta, Saskatchewan, you know, code has been a positive there in terms of.

Hey, Joy.

Really it's just more cross selling into the existing cases currently in Alberta and Saskatchewan.

Covid has been a positive there in terms of.

Speaker 5: Um, you know, the population in those provinces wanting to have the application in order to, you know, you test results, vaccination proof, et cetera. So, but we do have opportunities, you know, through our relationship in Canada with with tell us health and the other provinces. There are additional opportunities. But right now, the growth that you're seeing is from the existing relationship.

The population in those provinces wanting to have the application in order to.

Test results vaccination.

<unk> et cetera.

So, but we do have opportunities.

Through our relationship in Canada with Us with Telus health in the other provinces. There are additional opportunities, but right now the growth that youre seeing is from the existing relationships.

Speaker 7: That's very helpful. And as a follow-up, I wanted to go back to your comment on freeing up dry powder for M&A. I'm wondering if you can give us an update on your go-forward M&A philosophy. And assuming that M&A will be in TrueBridge, would you be more oriented to smaller technology tokens, or are you looking at more of a rollout?

That's very helpful and at the follow up I wanted to go back to your comment on freeing up dry powder for M&A wondering.

Wondering if you can give us an update on Europe , I look forward M&A philosophy, and assuming that M&A will be insured branch would you be more oriented towards smaller technology tuck ins.

Are you looking at Martha rollout strategy in that space.

Yeah, I'll start Julien and Matt.

Speaker 4: Yeah, I'll start Joy and then Matt may tag in behind me. You know, obviously that's a great question and something that we debate, discuss internally back and forth.

And behind the odd.

Obviously, thats a great question and something that we debate discuss internally back and forth.

Speaker 4: You know, obviously, if you look at the last 2 acquisitions with general health.

Obviously, if you look at the last two acquisitions would get real health and then through code a little bit of both of those flavors, one kind of more of a technology play one more of a down the fairway as you would say as we think about how we operationalize that.

I think we're kind of.

Making sure that we keep those doors open I would say from a technology standpoint, we're very focused on making sure where.

Speaker 4: those doors open I would say from a technology standpoint we're very focused on making sure we're focused on the gaps that we may be or I say gaps or opportunities where we can expand the service that we provide as we as we think about the the full business office outsourcing for our customers and then also you know at the same time looking for opportunities to provide scale to those services we provide so I would say it's equal equal on either side of how we're thinking about that I would definitely say that the the vast majority of the

Focus on the gaps that we may be.

I would say gaps or opportunities where we can.

Expand the service that we provide.

As we think about the full business office outsourcing for our customers.

Speaker 4: And then also, you know, at the same time, looking for opportunities to provide scale to those services we provide.

And then also at the same time looking for opportunities to provide scale to those services. We provide so I would say it's equal equal on either side of how we're thinking about that I would definitely say that the vast majority of the focus is on true bridge that.

Speaker 4: So I would say it's equal on either side of how we're thinking about that. I would definitely say that the vast majority of the focus is on TruBridge though.

That's helpful. Thank you.

Yes. Thank you.

Speaker 2: Thank you. There are no further questions at this time. I would like to turn the floor back over to management for any closing

Thank you there are no further questions at this time I would like to turn the floor back over to management for any closing remarks.

Speaker 1: I just want to thank everyone for being on the call today. Clearly we're excited about how we operated in the fourth quarter. And we're looking forward to 2022 and reaching all of our long term goals that we have set. So we appreciate your interest in CPSI and we'll talk to you next quarter. Thank you.

So I just want to thank everyone for being on the call today clearly.

Excited about how.

How we operate it in the fourth quarter and we're looking forward to 2022 and reaching all of our long term goals that we have set so we appreciate your interest in <unk> and we'll talk to you next quarter. Thank you.

Speaker 2: This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.

This concludes today's conference you may disconnect your lines at this time. Thank you for your participation.

Speaker 8: © BF-WATCH TV 2021

Yeah.

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Okay.