TruBridge Inc (TBRG) 2024 Q3 法說會逐字稿

Thank you.

謝謝。

Good morning, and welcome to the TruBridge third-quarter 2024 earnings conference call.

早上好，歡迎參加 TruBridge 2024 年第三季財報電話會議。

Leading today's call are Chris Fowler, President and Chief Executive Officer, and Vinay Bassi, Chief Financial Officer.

今天的電話會議由總裁兼執行長 Chris Fowler 和財務長 Vinay Bassi 主持。

This call may include 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.

本次電話會議可能包括有關未來營運計畫、預期和績效的聲明，這些聲明構成根據 1995 年《私人證券訴訟改革法案》安全港條款做出的前瞻性聲明。

The company cautions 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.

本公司提醒您，任何此類前瞻性陳述僅反映管理階層基於目前可用資訊的預期和預測，並非對未來結果或績效的保證。

Actual results might differ materially from those expressed or implied by such forward-looking statements as a result of known and unknown risks, uncertainties and other factors, including those described in public releases and reports filed with the Securities and Exchange Commission, including, but not limited to, the most recent annual report on Form 10-K.

由於已知和未知的風險、不確定性和其他因素，包括公開發布的信息和向美國證券交易委員會提交的報告中描述的因素，實際結果可能與此類前瞻性陳述明示或暗示的結果存在重大差異，包括但不包括僅限於 10-K 表中的最新年度報告。

The company also cautions investors that the forward-looking information provided in this call represents their outlook only as of this date, and they undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this call.

該公司還提醒投資者，本次電話會議中提供的前瞻性資訊僅代表他們截至該日期的展望，他們沒有義務更新或修改任何前瞻性陳述以反映本次電話會議之後的事件或發展。

At this time, I will now turn the call over to Mr. Chris Fowler, President and Chief Executive Officer.

現在，我將把電話轉給總裁兼執行長克里斯·福勒先生。

Please go ahead, sir.

請繼續，先生。

Thank you, Dru, and thank you to everyone joining us this morning.

謝謝你，Dru，也謝謝今天早上加入我們的所有人。

As many of you know, we're on a journey.

正如你們許多人所知，我們正在旅途中。

And today, I'm pleased to report that we've reached some of those first milestones we hoped to achieve.

今天，我很高興地向大家報告，我們已經實現了我們希望實現的一些初步里程碑。

We feel really good about the progress we've made so far and our trajectory, as we head into the final months of the year.

隨著今年最後幾個月的到來，我們對迄今為止所取得的進展和發展軌跡感到非常滿意。

Before I jump in, I'd like to highlight that going forward, we will now refer to our RCM business as Financial Health and our EHR and patient engagement business as patient care.

在我開始之前，我想強調一下，展望未來，我們現在將把我們的 RCM 業務稱為“金融健康”，將我們的 EHR 和患者參與業務稱為“患者護理”。

Bookings in the third quarter remained strong, building on the trends from the first half of the year and marking our fourth consecutive quarter with more than $20 million in total bookings.

在上半年趨勢的基礎上，第三季的預訂量仍然強勁，這標誌著我們連續第四個季度的總預訂量超過 2,000 萬美元。

Our Financial Health revenue growth is solid.

我們的財務健康收入成長穩健。

On an organic basis, excluding Viewgol, Financial Health revenue grew 5%, and our core CBO business is up by double digits in the quarter.

在有機基礎上，不包括 Viewgol，金融健康收入成長了 5%，我們的核心 CBO 業務在本季度成長了兩位數。

Adjusted EBITDA also increased and margins continued to expand sequentially, coming in at 16.5% this quarter.

調整後 EBITDA 也有所增加，利潤率持續擴大，本季達到 16.5%。

And finally, our cash flow from operations is roughly $22 million year-to-date, an improvement of almost $9 million compared to last year.

最後，今年迄今為止，我們的營運現金流約為 2,200 萬美元，比去年增加了近 900 萬美元。

As I reflect on what we've accomplished in the third quarter, I'll highlight progress on our integration of Viewgol, momentum and interest for our nTrust solution and updates to our analytics offering.

當我回顧第三季所取得的成就時，我將重點介紹 Viewgol 整合的進度、nTrust 解決方案的動力和興趣以及分析產品的更新。

We've made steady progress on our integration of the Viewgol acquisition.

我們在收購 Viewgol 的整合方面取得了穩步進展。

And as of the end of the quarter, we have more than 30% of our CBO and EBO customers now supported by our team in India.

截至本季末，我們超過 30% 的 CBO 和 EBO 客戶現在得到了我們印度團隊的支持。

Through the end of the year, we will monitor and adjust the operations around this first wave of customers.

到今年年底，我們將圍繞第一波客戶來監控和調整營運。

By the end of 2025, we expect to double the number of customers that are supported by our workforce in India to 60%.

到 2025 年底，我們預計印度員工支援的客戶數量將增加一倍，達到 60%。

In addition, to accommodate the increased customer transitions, we will have more than 500 employees in India by the end of this year and nearly 700 by the end of 2025, supporting our CBO clients.

此外，為了適應不斷增加的客戶轉型，到今年年底，我們將在印度擁有超過 500 名員工，到 2025 年底，我們將擁有近 700 名員工，為我們的 CBO 客戶提供支援。

While we are pleased with our progress so far this year, we remain laser-focused on stabilizing the operations and expect to yield significant margin improvement in 2025.

雖然我們對今年迄今為止的進展感到滿意，但我們仍然專注於穩定運營，並預計 2025 年利潤率將顯著提高。

I recently visited our office in India with other members of management to meet with our newest team members.

最近，我與其他管理層成員一起參觀了我們在印度的辦公室，並與我們最新的團隊成員會面。

Our goals for this trip were to build excitement about being part of TruBridge, celebrate our success to date and align on what's next.

我們此行的目標是讓人們對成為 TruBridge 的一部分感到興奮，慶祝我們迄今為止所取得的成功，並就下一步的計劃進行協調。

India is a very competitive market for talent, so it's important that our new team members are engaged, view themselves as part of a larger team and clearly see how they directly impact and contribute to our success.

印度是一個人才競爭非常激烈的市場，因此我們的新團隊成員必須積極參與，將自己視為更大團隊的一部分，並清楚地看到他們如何直接影響我們的成功並為我們的成功做出貢獻，這一點非常重要。

I'm proud to say that our integration efforts have helped us to maintain a lower-than-average employee attrition rate in India.

我很自豪地說，我們的整合努力幫助我們在印度維持了低於平均的員工流失率。

Moving on to nTrust, our integrated Financial Health and Patient Care Solution, we continue to gain traction in the market, and our customer count now stands at 78 clients, up nearly 30% year-over-year and signaling our success in these efforts.

接下來是我們的綜合金融健康和患者護理解決方案 nTrust，我們繼續在市場上獲得關注，我們的客戶數量目前已達 78 家，同比增長近 30%，這表明我們在這些努力方面取得了成功。

In the quarter, we added 1 net new client and closed 5 contracts with existing patient care clients.

本季度，我們淨增加 1 位新客戶，並與現有病患照護客戶簽訂 5 份合約。

As we look at our success in the year so far, we are selling at a faster pace in 2024 with 22 sales year-to-date compared to 18 for the entirety of last year.

回顧今年迄今所取得的成功，我們在 2024 年的銷售速度將加快，年初至今已售出 22 輛，而去年全年為 18 輛。

Our nTrust sales are not all created equal.

我們的 nTrust 銷售額並非都是平等的。

Remember that the contract value is based on the volume of each facility, and we are focusing our efforts on getting more customers on to this solution, and we anticipate some variation in revenue, as we continue to sign the new contracts.

請記住，合同價值是基於每個設施的數量，我們正在集中精力讓更多客戶使用此解決方案，並且隨著我們繼續簽署新合同，我們預計收入會出現一些變化。

We touched on our analytics offering earlier this year when it was launched.

今年早些時候，當我們推出分析產品時，我們談到了它。

And as an update, we're pleased with the uptake so far.

作為更新，我們對迄今為止的採用感到滿意。

Today, our offering leverages customers' data to provide insights on how they can better run their businesses.

如今，我們的產品利用客戶的數據來提供有關他們如何更好地經營業務的見解。

Early users have benefited from dashboards that are making it easier for them to improve clinical outcomes with their chronic care population, and our solutions have identified bottlenecks in the revenue cycle, allowing our clients to address root cause problems to reduce collection times.

早期用戶已經從儀表板中受益，這些儀表板使他們能夠更輕鬆地改善慢性護理人群的臨床結果，並且我們的解決方案已經識別了收入周期中的瓶頸，使我們的客戶能夠解決根本原因問題以減少收集時間。

This added value to the existing installed base gives potential EHR customers another reason to buy and enhances the experience with our RCM solutions.

這種對現有安裝基礎的附加價值為潛在的 EHR 客戶提供了另一個購買理由，並增強了我們的 RCM 解決方案的體驗。

We launched analytics in the second quarter and continue to invest and gain interest with our sales and our marketing efforts.

我們在第二季推出了分析，並繼續投資並透過我們的銷售和行銷工作獲得興趣。

Early feedback from customers has been tremendous, and we believe this opportunity will contribute to our revenue growth over the next few years.

客戶的早期回饋非常豐富，我們相信這一機會將有助於我們未來幾年的收入成長。

Before I turn the call over to Vinay, I'll spend a few minutes on changes to our Board of Directors and our management team.

在將電話轉給 Vinay 之前，我將花幾分鐘時間討論我們的董事會和管理團隊的變化。

Last month, we announced that Denise Warren will be stepping down off of our Board to pursue the role of Chairman of Brookdale Senior Living.

上個月，我們宣布 Denise Warren 將辭去董事會職務，轉而擔任 Brookdale Senior Living 董事長一職。

I want to take this opportunity to publicly thank Denise and express how much we have enjoyed working alongside her for many years.

我想藉此機會公開感謝丹尼斯，並表達我們多年來與她一起工作是多麼愉快。

We wish her the best in all her new endeavors.

我們祝福她在所有新的努力中一切順利。

To fill her seat, we announced the election of Amy O'Keefe to our Board.

為了填補她的席位，我們宣布選舉艾米·奧基夫 (Amy O'Keefe) 為董事會成員。

Amy brings invaluable financial and operational expertise to TruBridge.

Amy 為 TruBridge 帶來了寶貴的財務和營運專業知識。

Her appointment reaffirms our commitment to building a strong, engaged Board to guide us towards our next stage.

她的任命重申了我們致力於建立一個強大、敬業的董事會來引導我們進入下一階段的承諾。

From an executive leadership perspective, we are elevating the roles of our business unit general managers; making it so, they will now report directly to me.

從行政領導的角度來看，我們正在提升業務部門總經理的角色；這樣的話，他們現在將直接向我報告。

When I assumed the role of CEO 2 years ago, we purposely evolved and expanded the scope of our 2 business units and feel this is a natural time to make this transition.

當我兩年前擔任執行長時，我們有目的地發展和擴大了兩個業務部門的範圍，並認為這是進行這一轉變的自然時機。

In the beginning, we felt they could benefit from the additional support of a COO and David Dye took on the responsibility to guide and develop them.

一開始，我們認為他們可以從首席營運長的額外支持中受益，大衛·戴伊承擔了指導和發展他們的責任。

We have been planning for this transition for some time now and feel that the GMs have evolved and are ready to take this step.

我們已經為這一轉變計劃了一段時間，並認為總經理已經發展並準備好邁出這一步。

The role of COO will be eliminated on December 31, but David will remain a member of our Board until his term is completed next year.

營運長的職位將於 12 月 31 日取消，但 David 將繼續擔任我們的董事會成員，直到明年任期結束。

David has made a true impact on our company over the past 34 years and is a key factor getting to where we are today.

在過去 34 年裡，David 對我們公司產生了真正的影響，也是我們今天成就的關鍵因素。

In a world where everything is measured and scored, it is next to impossible to truly measure the impact David has had on our organization.

在一個一切都被衡量和評分的世界裡，要真正衡量大衛對我們組織的影響幾乎是不可能的。

I've had the pleasure to work for him and with him for most of my tenure.

我很高興為他工作，並在我任期的大部分時間裡與他一起工作。

I will cherish his leadership, his mentorship and his friendship that he has shown, and he will truly be missed.

我將珍惜他所表現出的領導、指導和友誼，我將真正懷念他。

I'm proud of our team's continued progress this quarter.

我對我們團隊本季的持續進步感到自豪。

We've delivered consistent results, building on the momentum from the first half of our year.

在上半年的動能基礎上，我們取得了一致的成果。

Our focus on our Financial Health business continues to drive growth, and we're seeing encouraging traction with our nTrust solution.

我們對金融健康業務的關注繼續推動成長，我們看到 nTrust 解決方案的吸引力令人鼓舞。

The strength of our bookings and our pipeline gives us confidence in our outlook for the remainder of the year and beyond.

我們的預訂量和通路實力讓我們對今年剩餘時間及以後的前景充滿信心。

As always, I want to thank our dedicated employees for their hard work and our customers for their continued trust in TruBridge.

一如既往，我要感謝我們敬業的員工的辛勤工作，以及我們的客戶對 TruBridge 的持續信任。

We look forward to closing out 2024 on a strong note and carrying this positive momentum into the new year.

我們期待以強勁的勢頭結束 2024 年，並將這一積極勢頭帶入新的一年。

With that, I'll turn it over to Vinay.

有了這個，我會把它交給維奈。

Thank you, Chris, and thank you all for joining our call this morning.

謝謝克里斯，也謝謝大家今天早上加入我們的電話會議。

Today, I'm going to update you on the financial initiatives we have been working on, run through the third quarter results and close by discussing guidance for the rest of the year.

今天，我將向您介紹我們一直在開展的財務計劃的最新情況，介紹第三季度的業績，並最後討論今年剩餘時間的指導。

Our third quarter financial results continue to demonstrate the strength of our underlying business and the progress we are making against our financial objectives.

我們第三季的財務表現繼續證明了我們基礎業務的實力以及我們在實現財務目標方面所取得的進展。

Our first priority was to improve cash flows and working capital management.

我們的首要任務是改善現金流和營運資金管理。

We continue to make progress in this area in the third quarter.

第三季我們在這一領域繼續取得進展。

In Q3, we generated $10.1 million of cash flow from operations, an improvement of $7 million versus the prior year.

第三季度，我們的營運現金流量為 1,010 萬美元，比前一年增加了 700 萬美元。

This brings our year-to-date total to $21.8 million versus $13.3 million in the first 3 quarters of last year.

這使得我們今年迄今的總金額達到 2,180 萬美元，而去年前 3 季的總金額為 1,330 萬美元。

Our accounts receivable balance is down 5% sequentially, and DSOs continue to improve consistently and are down approximately 8 days from quarter 1.

我們的應收帳款餘額環比下降了 5%，DSO 繼續持續改善，比第一季下降了約 8 天。

Second, we are optimizing the business and expanding profitability.

二是優化業務、擴大獲利能力。

We made meaningful progress on this front.

我們在這方面取得了有意義的進展。

We successfully completed the cost rationalization actions identified in Q2 '24 with a reduction of expenses by $5 million this year, beginning in April, which equates to approximately $8 million of savings on a full year basis.

我們成功完成了 2024 年第 2 季確定的成本合理化行動，從 4 月開始，今年費用減少了 500 萬美元，相當於全年節省了約 800 萬美元。

Further, we continue to focus on expense management, including labor and vendors.

此外，我們繼續關注費用管理，包括勞動力和供應商。

This step -- this includes steps in transitioning the RCM offshore services, balancing the savings and customer satisfaction.

這一步驟—包括轉變 RCM 離岸服務、平衡節省和客戶滿意度的步驟。

As a result, our adjusted EBITDA margin has increased to 16.5% this quarter, an improvement of approximately 470 basis points compared to the prior year and 165 basis points sequentially.

因此，本季我們調整後的 EBITDA 利潤率增至 16.5%，與前一年相比提高了約 470 個基點，比上一季提高了 165 個基點。

Third, we are increasing the quality of our reported earnings.

第三，我們正在提高報告收益的品質。

The percent of capitalized software in the quarter was 5.2%, down 190 basis points compared to prior year and 63 basis points since the first quarter.

本季軟體資本化比例為 5.2%，較去年同期下降 190 個基點，較第一季下降 63 個基點。

Year-to-date, up to Q3, total capitalized software was $13.7 million and $4 million lower than previous year, primarily driven by sunsetting Centriq and other lower return on investment projects.

年初至今，截至第三季度，軟體資本總額為 1,370 萬美元，比前一年減少 400 萬美元，這主要是由於 Centriq 的退出和其他投資回報率較低的項目所致。

We are also focused on rationalizing our real estate footprint.

我們也致力於合理化我們的房地產足跡。

In October 2024, we sold some real estate in Mobile, Alabama for $2.8 million gross with net proceeds of $2.5 million.

2024 年 10 月，我們以 280 萬美元的毛價出售了阿拉巴馬州莫比爾的一些房地產，淨收益為 250 萬美元。

As of the end of third quarter, we show it as assets held for sale.

截至第三季末，我們將其顯示為持有待售資產。

Finally, our fourth priority was to improve our forecasting and accounting processes.

最後，我們的第四個優先事項是改善我們的預測和會計流程。

It's been a few quarters, and I certainly feel we are improving as an organization with additional processes, increased accountability and monthly reviews of results.

幾個季度過去了，我確實感覺到我們作為一個組織正在不斷改進，增加了流程，增強了責任感，並每月對結果進行審查。

Since the second quarter, we have identified 2 material weaknesses in our internal controls reported in our 10-Q.

自第二季以來，我們在 10-Q 報告中發現了內部控制中的兩個重大缺陷。

We have robust plans in action for remediating them and have added new members and external advisers to our finance team.

我們制定了強而有力的行動計劃來糾正這些問題，並為我們的財務團隊增加了新成員和外部顧問。

There has been no material impact on our financial statements, and we expect the controls to be effective in the next few quarters.

這對我們的財務報表沒有產生重大影響，我們預計這些控制措施將在未來幾季生效。

Now turning to the third quarter review.

現在轉向第三季回顧。

We delivered solid results, demonstrating our continued cost discipline as well as operational initiatives to further enhance our global capabilities and infrastructure.

我們取得了紮實的成果，展現了我們持續的成本紀律以及進一步增強我們的全球能力和基礎設施的營運措施。

Bookings in the third quarter were $21 million, an increase of 40% versus the prior year.

第三季的預訂量為 2,100 萬美元，比去年同期成長 40%。

Taking a closer look at the growth, Financial Health bookings increased 38%, driven by growth in core RCM, CBO and Viewgol and patient care bookings increased 43%, primarily driven by growth in add-on sales from our existing customer base.

仔細觀察成長情況，在核心 RCM、CBO 和 Viewgol 成長的推動下，金融健康預訂成長了 38%，而病患照護預訂成長了 43%，這主要是由我們現有客戶群的附加銷售成長所推動的。

Year-to-date, the total bookings were $68 million, an increase of 22% versus the previous year, mainly due to the bookings growth in core RCM and patient care.

年初至今，預訂總額為 6,800 萬美元，較上年增長 22%，主要得益於核心 RCM 和患者護理的預訂增長。

Moving down the P&L, revenue of $83.8 million in the quarter was up just over 1% compared to last year.

從損益表來看，本季營收為 8,380 萬美元，比去年同期成長了 1% 多一點。

The divestiture of AHT in January of this year and the impact from sunsetting Centriq by year-end was offset by the positive contributions from Viewgol, which we acquired in the fourth quarter of last year.

今年 1 月剝離 AHT 以及年底關閉 Centriq 的影響被我們去年第四季收購的 Viewgol 的積極貢獻所抵消。

Excluding AHT and Centriq, revenue in the quarter was up 9% year-over-year.

不包括 AHT 和 Centriq，該季度營收年增 9%。

Financial Health revenue, including Viewgol of $54.3 million represented 65% of total revenue and was up approximately 17% compared to the prior year.

包括 Viewgol 在內的金融健康收入為 5,430 萬美元，佔總收入的 65%，比上年增長約 17%。

Excluding Viewgol, Financial Health organic revenue grew 5.3%, primarily driven by double-digit growth in our core CBO offering.

不包括 Viewgol 在內，Financial Health 有機收入成長了 5.3%，這主要是由我們核心 CBO 產品的兩位數成長所推動的。

Patient Care revenue of $29.6 million decreased 18% compared to last year, primarily due to the contributions from AHT and Centriq, which accounted for approximately $6 million net impact in the quarter.

病患照護收入為 2,960 萬美元，較去年下降 18%，主要是由於 AHT 和 Centriq 的貢獻，本季淨影響約為 600 萬美元。

The efficiencies we are realizing in operations, labor and spending discipline are all becoming apparent as we saw notable improvement in gross margin for both Financial Health and Patient Care.

隨著我們看到財務健康和病患照護的毛利率顯著改善，我們在營運、勞動力和支出紀律方面實現的效率都變得越來越明顯。

Total gross margins of 49.5%, increased 250 basis points compared to last year.

總毛利率為49.5%，比去年增加250個基點。

Financial Health gross margins of 46.2% compared favorably to 41.7% last year, an increase of 450 basis points, driven primarily by Viewgol and increased revenue growth.

金融健康業務的毛利率為 46.2%，較去年的 41.7% 成長了 450 個基點，這主要是受到 Viewgol 和營收成長增加的推動。

We are also starting to see positive impact on margins from the global workforce, as we transition and stabilize the work offshore.

隨著我們向海外轉移和穩定工作，我們也開始看到全球勞動力對利潤率的正面影響。

Patient Care gross margin of 55.4% was also up approximately 160 basis points year-over-year, benefiting from cost rationalization, including work and additional cost actions taken in 2024.

由於成本合理化，包括 2024 年採取的工作和額外成本行動，病患照護毛利率也較去年同期成長約 160 個基點，達到 55.4%。

Total reported operating expenses of $39.5 million in the third quarter represented 47.1% of revenue compared to 53.3% a year ago.

第三季營運支出總額為 3,950 萬美元，佔營收的 47.1%，去年同期為 53.3%。

The decrease is due to reduction in product development, sales and marketing and G&A, primarily driven by divestiture of AHT, 2024 cost actions, lower nonrecurring expenses like severance and enhanced expense management, partially offset by increased expenses from Viewgol.

下降的原因是產品開發、銷售和行銷以及一般管理費用的減少，這主要是由於AHT 的剝離、2024 年成本行動、遣散費等非經常性費用的減少以及加強費用管理，但部分被Viewgol 費用增加所抵消。

Adjusted EBITDA in the quarter of $13.8 million increased 42% compared to last year.

本季調整後 EBITDA 為 1,380 萬美元，較去年增長 42%。

Adjusted EBITDA margin in the third quarter of 16.5% showed a consistent improvement from 11.4% in the first quarter and 14.8% in the second quarter, driven primarily by increased revenue and Financial Health in both core products in Viewgol and 2024 cost actions.

第三季調整後EBITDA 利潤率為16.5%，較第一季的11.4% 和第二季的14.8% 持續改善，這主要得益於Viewgol 核心產品的收入和財務健康狀況的增加以及2024 年成本行動。

Moving to the -- moving on to the balance sheet, we ended the quarter with $8.6 million in cash, up $0.9 million sequentially (inaudible) million since the beginning of the year.

轉向資產負債表，本季末我們的現金為 860 萬美元，自年初以來（聽不清楚）增加了 90 萬美元。

This increase is a direct result of our intense focus on cash management and process improvements we have implemented since the start of the year.

這一增長是我們自年初以來大力關注現金管理和流程改進的直接結果。

Total net debt at the end of the quarter was $168 million.

本季末淨債務總額為 1.68 億美元。

And during the quarter, we paid down another $3 million of principal on our debt, bringing the total year-to-date payments of $20 million.

在本季度，我們又償還了 300 萬美元的債務本金，使年初至今的付款總額達到 2,000 萬美元。

Our leverage ratio has been declining in the past 9 months and is currently in the mid-3s.

我們的槓桿率在過去 9 個月中一直在下降，目前處於 3 左右。

We reiterate our goal of getting it down to the range of 2.5 to 3x through adjusted EBITDA and potential debt repayments.

我們重申我們的目標是透過調整後的 EBITDA 和潛在的債務償還將其降至 2.5 至 3 倍。

Finally, turning to guidance.

最後，轉向指導。

For the fourth quarter, we expect revenue to be between $83.5 million and $85.5 million and adjusted EBITDA between $13.5 million and $14.5 million.

我們預計第四季的營收將在 8,350 萬美元至 8,550 萬美元之間，調整後的 EBITDA 將在 1,350 萬美元至 1,450 萬美元之間。

With this guidance, we are narrowing our full year revenue guidance range to $335 million to $337 million and adjusted EBITDA to $49 million to $50 million, which is at the higher end of our previous guidance of $45 million to $50 million.

根據這項指導，我們將全年營收指引縮小至 3.35 億至 3.37 億美元，並將 EBITDA 調整至 4,900 萬至 5,000 萬美元，這是我們先前指導 4,500 萬至 5,000 萬美元的上限。

The midpoint of the Q4 ranges implies the adjusted EBITDA margin of 16.5%, almost flat to Q3 '24.

第四季範圍的中點意味著調整後的 EBITDA 利潤率為 16.5%，幾乎與 24 年第三季持平。

This is driven by a slight uptick expected in our G&A expenses due to increased costs for remediation of internal control weaknesses and additional costs, as we step our efforts to collect aged receivables as demonstrated by our improvement in free cash flows.

這是由於內部控制缺陷的補救成本和額外成本增加，預計我們的一般管理費用將略有上升，因為我們加大力度追收賬齡應收賬款，正如我們自由現金流的改善所證明的那樣。

We believe both items are short term in nature and anticipate these expenses return to a more normalized level by mid-2025.

我們認為這兩項費用本質上都是短期的，預計這些費用到 2025 年中期將恢復到更正常化的水平。

In conclusion, I'm pleased with our third quarter results and especially the continuous improvement in the following metrics.

總之，我對我們第三季的業績感到滿意，尤其是以下指標的持續改進。

Bookings exceeding $20 million for the fourth consecutive quarter.

預訂量連續第四個季度超過 2000 萬美元。

Financial Health revenue growth of 16.5% shows continuous improvement each quarter.

金融健康收入成長 16.5%，顯示每季持續改善。

Year-on-year growth in Financial Health organic revenue, which excludes Viewgol, was 5.3% and continues to improve each quarter.

金融健康有機收入（不包括 Viewgol）年增 5.3%，每季持續改善。

Adjusted EBITDA margins continue to expand over the course of the year, as we anticipated from 11.4% in Q1 to 16.5% in Q3.

調整後 EBITDA 利潤率在這一年中繼續擴大，正如我們預期的那樣，從第一季的 11.4% 增至第三季的 16.5%。

Cash flow from operations of $21.8 million year-to-date improved $8.5 million versus prior year and $20 million in total year-to-date debt repayment incremental to normal amortizations.

年初至今，營運現金流為 2,180 萬美元，比前一年增加了 850 萬美元，年初至今的債務償還額與正常攤銷相比增加了 2,000 萬美元。

We have also made notable progress as an organization implementing financial rigor.

作為一個實施財務嚴格性的組織，我們也取得了顯著的進展。

There is still more work to do, but I feel we are laying the foundation this year to deliver predictable and sustainable growth.

還有更多工作要做，但我認為我們今年正在為實現可預測和可持續的成長奠定基礎。

With that, let's open the call to questions.

接下來，讓我們開始提問。

Julian?

朱利安？

(Operator Instructions) Our first question comes from Sean Dodge from, RBC Capital Markets.

（操作員說明）我們的第一個問題來自 RBC Capital Markets 的 Sean Dodge。

Congratulations on the great results this quarter.

恭喜本季取得的出色成果。

On the bookings, you're making an impressive progress in Financial Health on both new clients and the cross-sells.

在預訂方面，您在新客戶和交叉銷售的財務健康方面都取得了令人印象深刻的進展。

Maybe just on the net new, Chris, is there any kind of characterization you can provide around what these net new clients look like?

也許只是在網路上的新客戶，克里斯，你能提供一些關於這些網路新客戶的特徵嗎？

Are these predominantly smaller hospitals?

這些醫院主要是小型醫院嗎？

Or are you starting to get traction moving up into larger institutions?

還是您開始受到吸引進入更大的機構？

And then just any -- kind of broadly any change you're seeing in just kind of the macro demand backdrop on the revenue cycle side?

然後，您在收入週期方面的宏觀需求背景中看到的任何變化？

Yes.

是的。

First of all, thanks, Sean, and thanks for the kind words at the top.

首先，謝謝肖恩，也謝謝樓上的客氣話。

Yes, it's a great question.

是的，這是一個很好的問題。

And to be honest, I was actually at a hospital earlier this week in Kansas that we recently signed and are going live with the first of the year.

說實話，本週早些時候我實際上在堪薩斯州的一家醫院，我們最近簽署了該醫院的協議，並將在今年的第一天開始使用。

It's a 150-bed hospital, not running our EHR.

這是一家擁有 150 個床位的醫院，不運行我們的 EHR。

And so we are starting to see some momentum into that 100- to 400-bed space.

因此，我們開始看到 100 至 400 個床位空間的發展動能。

And that's really, I think, where -- obviously, our name is well known in the critical access or in that more and more rural size.

我認為，這確實是——顯然，我們的名字在關鍵通道或越來越多的農村地區廣為人知。

But I think our big opportunity is really seeing that traction take off in that 100- to 400-bed space.

但我認為我們的巨大機會確實是看到 100 到 400 個床位空間的牽引力起飛。

From a macro perspective, I would say, we're just continuing to see the same trends that we've seen over the past few quarters.

我想說，從宏觀角度來看，我們只是繼續看到過去幾季所看到的相同趨勢。

In that, there is continued pressure on the labor from whether it's the talent that knows how to do the billing or just the pressure on the wages that they're having to pay.

在這種情況下，勞動力面臨持續的壓力，無論是知道如何計費的人才，還是他們必須支付的工資壓力。

And then secondly, the continued complexity in the billing, as we continue to see a bigger move towards that Medicare Advantage, which is creating a little more complexity, a little more challenge in making sure that the dollars are coming in, one, on time and two, as they should be.

其次，計費方面持續的複雜性，因為我們繼續看到醫療保險優勢有更大的進展，這在確保資金按時到位方面創造了更多的複雜性和更多的挑戰和兩個，理應如此。

So I think that those will continue and continue to kind of push the demand that we're seeing.

所以我認為這些將繼續並繼續推動我們所看到的需求。

Okay.

好的。

That's great.

那太棒了。

And then, Vinay, the progress Chris mentioned on the offshoring, if we think about how the savings from that flows through, there's some duplicity initially when you make those transitions in terms of cost.

然後，維奈，克里斯在離岸外包方面提到的進展，如果我們考慮一下由此產生的節省如何流動，那麼當你在成本方面進行這些轉變時，最初會出現一些口是心非的情況。

You mentioned starting to see some net savings there in this most recent quarter.

您提到最近一個季度開始看到一些淨節省。

But just any kind of update on how we should think about when we start to see those savings flow through more meaningfully?

但是，當我們開始看到這些節省的流動變得更有意義時，我們應該如何思考的任何更新？

And just kind of any quantifications you can provide there?

您可以在那裡提供任何量化嗎？

Yes.

是的。

So I would say we are -- we have started seeing, I would say, a smaller net savings coming from Q3.

所以我想說，我們已經開始看到，第三季的淨節省量較小。

I expect the larger ones in Q4.

我預計第四季會有更大的。

The reason I'm hesitant to give an absolute number right now, Sean, I hope you appreciate it, is because I want to see a more predictability and stabilization.

我現在猶豫是否要給一個絕對數字，肖恩，我希望你能欣賞，因為我希望看到更多的可預測性和穩定性。

So you are absolutely right.

所以你是絕對正確的。

As we have recently moved a lot of customers to India, the double barrel is now getting tighter.

由於我們最近將許多客戶轉移到了印度，雙桶現在變得更加緊張。

We are seeing the uptick of stabilization of their revenues, of cash collections.

我們看到他們的收入和現金收款的穩定性有所提升。

So I would say Q4 will be a little more is what I'm expecting.

所以我想說第四季會比我預期的多一點。

But I think in our guidance in next year is where I would be in a better position to give a more robust number.

但我認為，在我們明年的指導中，我將能夠更好地給出更可靠的數字。

But I expect 2025 to be significantly better -- significantly higher, at least in the high single-digit millions on a run rate is what I'm expecting by 2025.

但我預計 2025 年會明顯好一些——明顯更高，至少到 2025 年運行率會達到數百萬個位數。

Yes.

是的。

And just to add a little extra color there.

只是為了在那裡添加一點額外的顏色。

So we're obviously laser-focused on making sure that the experience for our customer is not impacted in this transition.

因此，我們顯然非常專注於確保客戶的體驗在這項轉變中不會受到影響。

And so there is that double barrel from a staffing impact and making sure that the transition is as smooth as it can be.

因此，人員配置的影響和確保過渡盡可能順利會帶來雙重影響。

Now with that said, every time that we do another tranche of customers that we move over, we've learned from our previous one.

話雖如此，每次我們轉移另一批客戶時，我們都會從之前的客戶中學習。

And So, to the point of the expectations going into 2025, we think that -- it's only going to improve.

因此，就 2025 年的預期而言，我們認為，情況只會改善。

We're going to see the stabilization of the customers that we've moved over and also our ability to expedite that transition as we go forward.

我們將看到我們轉移的客戶的穩定性，以及我們在前進過程中加快過渡的能力。

Okay, That's helpful thanks and congrats again.

好的，這很有幫助，再次感謝並祝賀。

Thanks Dodge

謝謝道奇

Thank you, our next question is from Jeff Garro from Stephens.

謝謝，我們的下一個問題來自史蒂芬斯的傑夫·加羅。

Yeah Good morning, Thank you for taking my question.

是的早安，謝謝你回答我的問題。

And I think, first of all, congrats to David on a well-deserved retirement and really appreciate all of the insights that we've gathered from David on the industry over the years.

我認為，首先，恭喜大衛當之無愧地退休，並非常感謝我們多年來從大衛那裡收集到的有關該行業的所有見解。

And on my first question, maybe just to kind of follow up where you guys and Sean left off, it looks like great progress on Financial Health gross margins with even more to come.

關於我的第一個問題，也許只是為了跟進你們和肖恩留下的地方，看起來金融健康毛利率取得了巨大進步，而且還會有更多進步。

I was hoping you could help us think about resourcing versus client transitions to the offshore model.

我希望你能幫助我們考慮資源配置和客戶向離岸模式的轉變。

You spoke about doubling clients on the offshore model by the end of next year.

您談到到明年年底將離岸模式的客戶數量增加一倍。

But by our math, it looks like you're planning on resources growing by only about 40%.

但根據我們的計算，您計劃的資源成長量似乎僅為 40% 左右。

So could you help us think through how much you're resourcing ahead of further transitions versus leverage you're achieving on incremental resources?

那麼，您能否幫助我們思考您在進一步轉型之前要投入多少資源，以及您在增量資源上實現的槓桿作用？

So yes.

所以是的。

So think about it in 2 ways, you're right, from where we are to the customer base.

所以從兩個方面來考慮，你是對的，從我們所處的位置到客戶群。

So there is -- as you look at, we have -- to help get the customer experience better, there is an over-indexing of some of the people.

所以，正如你所看到的，我們有——為了幫助獲得更好的客戶體驗，對某些人進行了過度索引。

Double barrel is another one that we are carrying.

雙管是我們攜帶的另一種。

As things stabilize next year, so that extra -- the incremental high end of higher resources that we go will level out, as we go to the next 30%.

隨著明年情況穩定下來，當我們達到下一個 30% 時，我們投入的更多資源的增量高端將趨於平穩。

Did that answer your question?

這回答了你的問題嗎？

Yes, that helps.

是的，這有幫助。

And maybe to transition topics, I want to ask about the competitive environment.

也許為了轉移話題，我想問一下競爭環境。

Some of your peers have either announced new products that will come to market eventually or have announced general availability of some new products, also saw a recent class report out focused on your market segment.

您的一些同行要么宣布了最終將上市的新產品，要么宣布了一些新產品的全面上市，還看到了最近針對您的細分市場發布的課程報告。

So I think timely to get an update on how you're seeing the competitive environment.

因此，我認為應該及時了解您對競爭環境的看法。

I guess that's a little more focused on patient care, but we certainly welcome your remarks on the financial health segment as well.

我想這更側重於患者護理，但我們當然也歡迎您對財務健康領域的評論。

Yes.

是的。

And again, let me first say thank you for the nice comments to David.

再次，讓我先感謝您對大衛的好評。

I tried to drag him on to the call, and he said he enjoyed really being a bystander here.

我試著拉他參加電話會議，他說他很喜歡在這裡當旁觀者。

So I'll pass on the nice words. that you shared.

所以我會轉達美好的話語。你分享的。

I'm sure he's listened to.

我確信他已經聽進去了。

Yes, I would say on the patient care side, yes, we've seen the announcements from some of our competition about the new EHR.

是的，我想說在病患照護方面，是的，我們已經看到了一些競爭對手關於新 EHR 的公告。

Again, we continue to be focused on how we're making incremental improvements on the EHR as well, how we are taking advantage of like the analytics offering that we're talking about and really focusing on driving the outcomes and driving to efficiency.

同樣，我們繼續關注如何對 EHR 進行漸進式改進，如何利用我們正在討論的分析產品，並真正專注於推動結果和提高效率。

I think that what we're seeing is, again, the same pressure that our customers are seeing in the financial health space with the labor market, the same challenge there in the patient care side.

我認為我們再次看到的是，我們的客戶在金融健康領域和勞動市場中看到了同樣的壓力，在病患照護方面也面臨著同樣的挑戰。

And so for us, the focus is on how do we make the software work more for them so that they're allowed to not spend as much time in the software and more time with their patients.

因此，對我們來說，重點是如何讓軟體更好地為他們服務，這樣他們就可以不用花太多時間在軟體上，而有更多時間與患者相處。

And I think that's resonating with our customer base.

我認為這引起了我們客戶群的共鳴。

And as you've seen our success over this year from a patient care standpoint on the bookings front, I think we're on the right track there.

正如您從患者護理的角度看到我們今年在預訂方面所取得的成功一樣，我認為我們正走在正確的軌道上。

We continue to differentiate in our -- implementation in our support models as well, and again, feel confident about what the future looks like there.

我們在支持模式的實施方面也繼續保持差異化，並再次對那裡的未來充滿信心。

On the financial health side, similar to that, we think about the leveraging of that technology to really drive the service that we deliver.

在財務健康方面，與此類似，我們考慮利用該技術來真正推動我們提供的服務。

And so making sure that our efforts are focused on the technology supporting the work that we do so that we're able to be more efficient and provide scale to our customers, too.

因此，請確保我們的努力集中在支援我們所做工作的技術上，以便我們能夠提高效率並為我們的客戶提供規模。

Excellent.

出色的。

Maybe one follow-up on the patient care side and to tie in the prepared remarks around the success and traction with nTrust and specifically the remark that each contract is not equal.

也許是患者護理方面的後續行動，並將有關 nTrust 的成功和吸引力的準備好的評論聯繫起來，特別是每份合約都不相同的評論。

I guess maybe help us parse out whether that comment is more geared towards our modeling of converting bookings to revenue?

我想也許可以幫助我們解析該評論是否更適合我們將預訂轉化為收入的模型？

Or should we be thinking about that as related to your go-to-market approach to try to capture incremental market share?

或者我們應該將其視為與您試圖佔領增量市場份額的進入市場方法相關？

I think the call out there is really more to say that because we're pricing on a percentage of collections, and that's based on the volume of the facility, we have -- in our market, we obviously have a pretty wide range that we can offer to.

我認為確實有更多的內容要說，因為我們是根據一定比例的收藏品定價的，這是基於設施的數量，我們在我們的市場上，顯然有一個相當廣泛的範圍，我們可以提供給。

So I would say our garden-variety hospital may run somewhere in the $10 million to $12 million of net patient revenue, but obviously, there's variance to that.

所以我想說，我們的普通醫院的病患淨收入可能在 1,000 萬至 1,200 萬美元之間，但顯然，這之間存在差異。

And so it's just to call out that while we're obviously very keen on the revenue, we're as focused on just capturing market share and bringing them into the fold, and that may be a $5 million net patient revenue hospital compared to a $15 million.

因此，我想指出的是，雖然我們顯然非常熱衷於收入，但我們同樣專注於佔領市場份額並將其納入其中，與一家醫院相比，這可能是一家淨患者收入為 500 萬美元的醫院。 1500萬美元。

And we -- what we don't have visibility into is how they're going to come through in the pipeline and transition.

而我們 - 我們無法了解他們將如何在管道和過渡中完成。

And so there is volatility there, and that was the reason for that call out in the prepared remarks.

因此，那裡存在波動，這就是在準備好的演講中呼籲的原因。

Excellent.

出色的。

That helps.

這有幫助。

And last one for me.

最後一張給我。

I certainly recognize that it's early, but I was hoping you could discuss some headwinds and tailwinds for 2025 and maybe more specifically, why not the organic revenue growth rates that you referenced and to the extent that their recurring organic revenue growth rates are good run rates to think about on a go-forward basis?

我當然認識到現在還為時過早，但我希望您能討論2025 年的一些逆風和順風，也許更具體地說，為什麼不討論您提到的有機收入增長率以及他們的經常性有機收入增長率是否良好的運行率考慮未來的基礎？

That's a great question, Jeff.

這是一個很好的問題，傑夫。

That's what I've been working for a couple of months, and we will give you guys the full view by -- obviously, in our guidance thing.

這就是我幾個月來一直在努力的事情，我們將透過——顯然，在我們的指導中為你們提供全面的視角。

But this is -- I can share the directional view where we are thinking.

但這是——我可以分享我們正在思考的方向性觀點。

We are at least directionally looking -- or trying to look at mid- to high single-digit revenue growth and a few hundred bps -- a few hundred basis points increase in EBITDA margin with a goal to touch at least a 20% EBITDA margin in third or fourth quarter of next year because this is built on the momentum that we will -- we want to exit.

我們至少有方向性地尋找——或者試圖尋找中高個位數的收入增長和幾百個基點——EBITDA 利潤率增加幾百個基點，目標是達到至少 20% 的 EBITDA 利潤率明年第三或第四季度，因為這是建立在我們想要退出的勢頭之上的。

So Q4 becomes an important quarter.

所以第四季就成為一個重要的季度。

Obviously, some of these short-term upticks of expenses go away, but that's what we expect with the bookings momentum translating laser focus on our internal processes as well as the operational rigor that we have put in and with the offshore margins and success kicking in, that's our current line of thinking.

顯然，其中一些短期費用上升會消失，但這正是我們所期望的，因為預訂勢頭將激光聚焦於我們的內部流程以及我們所投入的嚴格運營以及離岸利潤和成功的開始，這就是我們目前的思路。

And obviously, we are refining, working through our planning cycle right now, and we'll share more in the next call.

顯然，我們現在正在完善我們的規劃週期，我們將在下次電話會議中分享更多資訊。

Appreciate your answer, Thanks for taking my question.

感謝您的回答，感謝您提出我的問題。

Thanks Jeff.

謝謝傑夫。

Thank you, Our next question comes from Stephanie Davis from, Barclays.

謝謝，我們的下一個問題來自巴克萊銀行的史蒂芬妮戴維斯。

Yeah guys thank you for taking my question. and I Ackolo and the congrats to David.

是的，謝謝你們回答我的問題。我和阿克洛祝賀大衛。

I hope he's going to enjoy some time off.

我希望他能享受一段時間。

I was hoping to dig in more to your revenue cycle cross-sales, just given it sounds like that's really taking off.

我希望更多地了解您的收入周期交叉銷售，因為聽起來這確實正在起飛。

So could we hear more about insights into the process, what's getting clients excited over the finish line since I know sometimes those are more emotional deals to close given how you have to go and change your staff?

那麼我們能否聽到更多關於流程的見解，是什麼讓客戶在終點線感到興奮，因為我知道有時這些交易會更加情緒化，因為你必須如何改變你的員工？

And maybe how you're orienting the sales team to properly get your arms around this opportunity?

也許您如何引導銷售團隊正確把握這個機會？

Yes.

是的。

Thanks for the kind words for David.

謝謝你對大衛的客氣話。

And I know time off, but remember, we're going to keep him pretty busy on the Board as well.

我知道休假，但請記住，我們也會讓他在董事會上非常忙碌。

So don't get too excited for him.

所以不要為他太興奮。

But going to the cross-sell, yes, we continue to see the momentum.

但說到交叉銷售，是的，我們繼續看到這種勢頭。

And I think first, it speaks to the belief in our customers in the -- in our continued focus and delivery on the patient care side, on the EHR part of the business, for them to want to look to us as the solution on the RCM side.

我認為首先，它說明了我們的客戶對我們對患者護理方面、EHR 業務部分的持續關注和交付的信念，因為他們希望將我們視為解決方案RCM 側。

I do think that we have also done a good job of bringing in additional partnerships.

我確實認為我們在引入更多合作夥伴方面也做得很好。

I'll reference i2i, as we think about delivering solutions for our customers around value-based care so that they can take advantage of those programs that are out there.

我將參考 i2i，因為我們考慮圍繞基於價值的護理為客戶提供解決方案，以便他們可以利用現有的這些計劃。

But again, it's -- for what we see, it's about just the day in, day out delivery of that RCM process, the cash collections that need to come in on a consistent basis day after day.

但同樣，就我們所見，這只是 RCM 流程的日復一日的交付，需要日復一日一致的現金收款。

And as we've talked about, the stress that's placed on our facilities, both from the labor constraint and also the continued complexities of the billing, knowing that there is somebody like TruBridge that's singularly focused on this end of the market, that's been doing this for 20-plus years and has shown consistent delivery and results over that period is a confidence for our customers.

正如我們所討論的，我們的設施承受著壓力，既來自勞動力限制，也來自計費的持續複雜性，因為知道有像 TruBridge 這樣的公司專門專注於這一端市場，所以我們一直在做20 多年來，我們始終如一地提供交付和結果，這讓我們的客戶充滿信心。

And again, I do think it helps that it is a connection to the EHR that not only are they getting a highly qualified staff on the collection side, but that partnership with the EHR and the technology gives another level of transparency that they may not be able to find in other solutions that are out there.

再說一次，我確實認為與電子病歷的聯繫是有幫助的，他們不僅在收集方面擁有高素質的工作人員，而且與電子病歷和技術的合作提供了他們可能無法達到的另一個級別的透明度。找到現有的其他解決方案。

And how does the kind of impact -- your end market impact some of their buying decisions, just given you're going to have the election probably changes the insured mix at your hospital clients.

考慮到即將舉行的選舉可能會改變醫院客戶的保險組合，這種影響會如何影響您的終端市場，從而影響他們的一些購買決策。

There's a bit of an M&A friendly environment.

這裡有一個併購友善的環境。

And also let's throw in, we've had some weird weather, too, right?

另外，我們也遇到了一些奇怪的天氣，對吧？

It could also cause a little bit more disruption considering your client base.

考慮到您的客戶群，它也可能造成更多的干擾。

I didn't hear the last part.

我沒有聽到最後一部分。

What was that, Stephanie?

那是什麼，史蒂芬妮？

The weather and IV shortages, all the disruptions that you could be seeing, if you're a critical access hospital.

如果您是緊急通道醫院，天氣和靜脈注射短缺以及您可能會看到的所有乾擾。

Yes.

是的。

I will say this, I mean, we obviously keep an ear to the ground of what's going on in Washington.

我想說的是，我們顯然正在密切關注華盛頓正在發生的事情。

And I don't want to get too far on a limb here, but our customers have been insulated for the most part.

我不想在這裡太過分，但我們的客戶在很大程度上已經被隔離了。

And I don't foresee a lot of impact to them negatively based on the election.

我預計這次選舉不會對他們產生很大的負面影響。

There may be a little bit of additional emphasis that is applied to the Medicare Advantage plan so that change to more of that commercial process and the value-based care model.

醫療保險優勢計劃可能會受到一些額外的重視，以便更多地轉向商業流程和基於價值的護理模式。

I honestly think that, that gives us even more of an opportunity than the traditional fee-for-service model that we're in today.

老實說，我認為，這為我們帶來了比我們今天採用的傳統按服務付費模式更多的機會。

Again, when you're looking at the facilities that we're doing this for, they're constrained from a resource standpoint and are focused on the task at hand day-to-day, sometimes don't have the opportunity to lift their heads up and kind of see the bigger field and what's coming around the corner.

同樣，當您查看我們正在執行此操作的設施時，您會發現它們從資源的角度來看受到限制，並且每天都專注於手頭的任務，有時沒有機會提升自己的能力抬頭看看更大的領域以及即將發生的事情。

And I think that's where we can really step in and make sure that based on our size, our scale that we're able to deliver that for them.

我認為這就是我們真正可以介入的地方，並確保根據我們的規模，我們能夠為他們提供這些服務。

So the changes that are coming or that will continue to come, I think, will only benefit our ability to be able to capture the market from an RCM standpoint.

因此，我認為，即將發生或將繼續發生的變化只會有利於我們從 RCM 的角度佔領市場的能力。

I'm glad you can give them the help in hand.

我很高興您能為他們提供協助。

And last one out of me, I can't let Vinay feel left out.

我的最後一個願望是，我不能讓維奈感到被忽視。

Are there any other rationalization opportunities next year?

明年還有其他合理化機會嗎？

I mean you're moving a lot of your client service offshore.

我的意思是，你們正在將許多客戶服務轉移到海外。

Is this a near-term cost opportunity?

這是近期的成本機會嗎？

Or are you planning on maintaining more of this hybrid model as you go forward?

或者您計劃在未來繼續維護更多這種混合模型？

So I think it will be -- there will be -- a majority of our customers will move to offshore, but it will be -- we will have a mix of domestic as well as offshore, if that was your question.

所以我認為，我們的大多數客戶將轉移到離岸，但如果這是你的問題，我們將同時擁有國內和離岸客戶。

But increasingly, I think our focus will be to moving the customers more to offshore resources.

但我認為我們的重點將逐漸轉向讓客戶更轉向離岸資源。

And now on the cost rationalization, I would say, I would always in my seat.

現在，關於成本合理化，我想說，我將永遠坐在我的座位上。

I would be wrong to say I always feel there will be more opportunities, but I want to be realistic.

如果我說我總覺得會有更多機會，那是錯的，但我想現實一點。

I want to cross the second hurdle, get it under the bag, get the process and the DNA in the company go to the next level after that.

我想跨過第二個障礙，把它藏起來，讓公司的流程和 DNA 進入下一個階段。

But I would say we continuously evaluate other areas where things would be, but I just want to make sure we make this a global success for us.

但我想說的是，我們會不斷評估其他領域的情況，但我只是想確保我們在全球範圍內取得成功。

Yes.

是的。

And just to add on to that, I mean, it is a journey.

補充一點，我的意思是，這是一趟旅程。

I mean -- but at the -- we have to remind ourselves that we want to continue to grow the business, and we want to deliver to our customers.

我的意思是——但同時——我們必須提醒自己，我們希望繼續發展業務，我們希望為客戶提供服務。

And So, we've got to be mindful against short-term gains for the long-term success.

因此，為了長期的成功，我們必須注意短期收益。

And So, to Vinay's point, I think what we've laid out this year and what we've accomplished shows the new discipline in the organization to continue to look for those incremental adjustments and improvements and that we're not done.

因此，就維奈的觀點而言，我認為我們今年的佈局和所取得的成就表明，組織中的新紀律將繼續尋求增量調整和改進，但我們還沒有完成。

We're going to continue to turn over the rocks and make sure that we're operating as efficiently as we can with a mindset on that client delight at the very top of the house.

我們將繼續扭轉局面，確保我們盡可能有效率地運營，並以客戶滿意為最高理念。

That's helpful.

這很有幫助。

Thank you guys.

謝謝你們。

Thank you Stephanie.

謝謝斯蒂芬妮。

Thank you our last question comes from George Hill from Deutsche Bank.

謝謝，我們的最後一個問題來自德意志銀行的喬治·希爾。

Hey Hi good morning, It's Maxi on for George.

嗨嗨早上好，喬治穿上了馬克西。

Thanks for taking my question, So we are hearing a lot about increases in claim denials from MCOs.

感謝您提出我的問題，我們聽到很多關於 MCO 拒絕索賠的情況增加。

Are you guys seeing similar trends?

你們看到類似的趨勢嗎？

And is it impacting RCM business at all?

它對 RCM 業務有影響嗎？

And how can TruBridge help clients with the non-appeal process?

TruBridge 如何幫助客戶完成非上訴程序？

Yes.

是的。

Thank you very much.

非常感謝。

Yes.

是的。

I mean it's something that we've always seen.

我的意思是這是我們一直看到的事情。

And again, as we see that proliferation of the Medicare Advantage plans and that continue to grow, obviously, that challenge is only going to increase.

再次，當我們看到醫療保險優勢計劃的擴散和持續增長時，顯然，這項挑戰只會增加。

And as I said earlier, I think that provides an opportunity for us to be able to help our customers even more.

正如我之前所說，我認為這為我們提供了一個能夠為客戶提供更多幫助的機會。

I think what differentiates us again is the fact that we manage and run and invest in our own technology and use that for our customers.

我認為我們再次與眾不同的是我們管理、營運和投資我們自己的技術並將其用於我們的客戶。

And so as we identify process opportunity to have that root cause impact on where those denials are starting and being able to implement new technology to be able to stop the problem where it starts so that when the claims are submitted that we have a higher rate of acceptance and payment.

因此，當我們確定流程機會，對這些拒絕的根源產生影響，並能夠實施新技術，以便能夠從問題開始的地方阻止問題，這樣，當提交索賠時，我們就有更高的成功率。付款。

And so we'll continue to drive that for our customers.

因此，我們將繼續為我們的客戶推動這一目標。

That's very helpful.

這非常有幫助。

And just a quick follow-up on Stephanie's question.

快速跟進史蒂芬妮的問題。

Could you give us an update on how much of your EHR customer is currently also using your RCM solutions?

您能否向我們介紹目前有多少 EHR 客戶也在使用您的 RCM 解決方案？

Just wanted to assess how much white space is left for cross-sells.

只是想評估還有多少空白空間可供交叉銷售。

Yes.

是的。

So we currently have 78 customers that are running our nTrust solution where that's the combination of both the EHR and the RCM services.

目前，我們有 78 家客戶正在運行我們的 nTrust 解決方案，該解決方案結合了 EHR 和 RCM 服務。

Okay.

好的。

It looks like there are no further questions at this time.

目前看來沒有其他問題了。

I would like to turn the floor back to Chris Fowler for closing remarks.

我想請克里斯·福勒（Chris Fowler）發表結束語。

Thanks, Julian, and thanks, everybody, for waking up with us this morning.

謝謝朱利安，謝謝大家今天早上和我們一起起床。

We appreciate your interest in TruBridge and hope everybody has a wonderful weekend.

我們感謝您對 TruBridge 的興趣，並希望大家度過一個愉快的週末。

Thank you all.

謝謝大家。