TruBridge partners with Cibolo Health for RCM solutions

MOBILE, Ala. - TruBridge, Inc. (NASDAQ: TBRG), a provider of healthcare technology solutions, has been selected as a preferred partner by Cibolo Health, a company specializing in the financial optimization of rural healthcare providers. This partnership aims to extend TruBridge’s Revenue Cycle Management (RCM) technology and services to Cibolo’s network of rural clinically integrated networks (CINs). The company, which has seen its stock surge over 154% in the past year according to InvestingPro data, currently maintains a market capitalization of approximately $388 million.

Cibolo Health’s Chief Financial Officer, Brett Norell, expressed confidence in TruBridge’s RCM solutions, highlighting their potential to address the financial challenges faced by rural healthcare organizations. TruBridge’s suite of RCM services includes billing, claims management, and revenue cycle analysis, which can be tailored to meet the specific needs of its customers. With annual revenue of $338 million and a gross profit margin of 49%, TruBridge demonstrates significant operational scale in the healthcare technology sector.

Merideth Wilson, Financial Health General Manager at TruBridge, emphasized the company’s commitment to community-driven healthcare organizations and its ongoing efforts to innovate and support effective revenue cycle management. The collaboration with Cibolo is expected to empower rural healthcare providers to achieve financial stability and continue serving their communities.

Cibolo Health offers services such as medical billing, coding, and accounts receivable management, all designed to improve revenue collection and operational efficiency for healthcare providers. By partnering with TruBridge, Cibolo Health aims to enhance its support for rural hospitals and medical practices, enabling them to focus on patient care while maintaining financial health.

TruBridge has a history of over 45 years in the healthcare industry, supporting more than 1,500 healthcare organizations with technology-first solutions. The company’s HFMA Peer Reviewed® RCM offerings are designed to provide visibility and transparency, improving productivity and financial outcomes for healthcare organizations.

The information for this article is based on a press release statement. Investors should note that InvestingPro analysis suggests the stock is currently trading above its Fair Value, with 4 analysts recently revising their earnings expectations upward for the upcoming period. The company is scheduled to report its next earnings on February 18, 2025. For comprehensive analysis and additional insights, investors can access the detailed Pro Research Report available on InvestingPro, covering this and 1,400+ other US equities.

In other recent news, TruBridge, Inc. has seen significant developments in its leadership team and financial performance. The company recently appointed Merideth Wilson as the General Manager of its Financial Health division, a critical component representing about 65% of its revenue. Wilson’s extensive background in healthcare technology leadership is expected to bolster the company’s Revenue Cycle Management (RCM) technology and services.

On a different note, the firm announced the departure of its Chief Operating Officer, David A. Dye, under an established severance agreement. The terms include installment payments, medical and dental coverage reimbursements, and continued vesting of his unvested restricted stock shares during his non-competition and non-solicitation period.

In terms of financial performance, TruBridge’s third-quarter earnings surpassed expectations, leading to a 31% increase in the stock price target by Stephens, which maintained an Equal Weight rating. The company’s updated fiscal year 2024 guidance suggests a return to organic revenue growth and an approximate 200 basis point year-over-year margin expansion. For fiscal year 2025, TruBridge is eyeing mid- to high-single-digit revenue growth and a target of 20% EBITDA margins by the third or fourth quarter. These are recent developments in the company’s journey towards growth and operational improvement.

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