CHARLOTTE, N.C., and MURRAY, UT — June 14, 2022 — Premier Inc.’s PINC AI™, a best-in-class AI-enabled solutions provider, and R1 RCM Inc., a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, announced today a collaboration to elevate end-to-end revenue cycle solutions for healthcare providers.
PINC AI™ will leverage R1’s expertise and analytics tools to rapidly assess the full spectrum of revenue cycle opportunities either as part of broader margin improvement or stand-alone revenue cycle engagement for health systems. PINC AI™ will also facilitate the purchase and ongoing use of the R1 revenue cycle management suite for its members and clients, as desired or requested.
“We look forward to partnering with PINC AI™ to engage more health systems in a strategic dialogue about how to transform their revenue cycle,” said Gary Long, chief commercial officer of R1. “Our proven ability to deliver differentiated value for health systems by improving the patient financial experience, reducing the cost to collect and increasing net revenue will make a meaningful difference.”
"After a thorough evaluation process, R1 emerged as the right partner, with the most robust solution set that will have the most immediate impact for our members and clients," said Leigh Anderson, president of Premier's Performance Services division, and the leader of PINC AI™. “This partnership will position PINC AI™ to accomplish three major strategic objectives. First, we will extend AI capabilities to a greater number of the products and services offered under the PINC AI™ brand. Second, we will offer more expansive, well-rounded solutions that address provider financial challenges at a time when many are struggling with their margins. Last, we can leverage the R1 relationship to help providers extend a strained labor force by automating many routine tasks such as scheduling, intake, coverage verifications, billing, denials management and customer service.”
R1’s end-to-end revenue cycle model hardwires best practices and processes into its proprietary technology platform while leveraging intelligent automation, advanced data analytics and technical expertise to streamline workflows, improve efficiencies and drive superior outcomes. R1 revenue cycle solutions are already being used by several leading early adopter health system customers of PINC AI™, including Ascension, Intermountain Healthcare and LifePoint Health.
PINC AI™ represents a network of more than 4,400 U.S. hospitals and health systems and approximately 225,000 other providers and organizations. Winner of the 2021 North Carolina Tech Award and an honorable mention for the Fast Company World Changing Ideas for AI and data, PINC AI™ includes consulting services underpinned by one of the largest healthcare datasets in the industry. Combined, this enables PINC AI™ to provide actionable intelligence that improves outcomes, supports improved financial performance and enables success in new, alternative payment models.
R1 is a leading provider of technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. R1’s proven and scalable operating models seamlessly complement a healthcare organization’s infrastructure, quickly driving sustainable improvements to net patient revenue and cash flows while reducing operating costs and enhancing the patient experience. To learn more, visit: r1rcm.com.
PINC AI™ is the technology and services platform of Premier Inc. (NASDAQ: PINC). Made up of 20 years’ worth of cost, quality and operational data gleaned from 45 percent of U.S. hospital discharges, as well as 812 million hospital outpatient and clinic encounters and 131 million physician office visits, PINC AI provides actionable intelligence that improves outcomes, supports improved financial performance and enables success in new, alternative payment models. PINC AI offerings rely on advanced analytics to identify improvement opportunities, consulting services for clinical and operational design, and workflow solutions to hardwire sustainable change. With a leading network of provider organizations, PINC AI accelerates ingenuity and serves as a large-scale innovation catalyst in healthcare. Headquartered in Charlotte, N.C., PINC AI can be followed on Twitter and LinkedIn.
Content written on behalf of R1 RCM.