Revenue cycle solution selected to drive improvements in patient care and financial performance
CHICAGO, October 22, 2018 – R1 RCM Inc. (NASDAQ:RCM), a leading provider of technology-enabled revenue cycle management (RCM) services to healthcare providers, announced its continued expansion into the physician practice market with the addition of CarePoint Health, one of the largest privately-held multispecialty physician practices in the U.S., and Holston Medical Group, one of the largest physician-owned, multi-specialty physician groups within the Southeast.
Proving Value with Data Analytics
CarePoint Health, based in Denver, Colorado, has selected R1 to provide its revenue cycle management services to support the company’s hospital medicine, emergency medicine, neurology and neurosurgery service lines.
“After an exhaustive RFP process with formidable companies, R1 came out as the number one revenue cycle partner who could help us maximize revenue and minimize cost as we continue to scale,” said Steve Quach, MD, CEO, CarePoint Health. “Their data analytics offering will ensure we are fiscally responsible and help us demonstrate the value we bring in terms of patient care and from a financial perspective.”
This summer, the CarePoint organization expanded its reach with the announcement of a merger agreement between CarePoint Healthcare and Emergency Physicians Integrated Care (EPIC) of Salt Lake City, Utah. The two independently owned and operated physician management companies formed the new entity CarePoint Health.
CarePoint Health is now one of the largest privately held multispecialty physician practices in the U.S. with over 600 providers across Colorado, Utah, Kansas, Wyoming, Idaho and Montana.
“Our positive history with Intermedix, recently acquired by R1, also contributed to CarePoint choosing R1,” said Bob Parker, chief operating officer, CarePoint Health. “They have become trusted members to our team and we believe their expertise and experience will enable us to deliver the best possible services, at the best value.”
Using Data to Streamline Value Based Care Contracting
Holston Medical Group has selected R1 to provide revenue cycle management services across their physician practice locations in Tennessee and Virginia.
With the addition of revenue cycle data and analytics from R1 in areas such as charge entry, coding, billing, denial management, education improvement and more from R1, Holston Medical Group will further their ability to succeed in value-based contracting models and drive improvements in quality and performance, including lowering denial and readmission rates and improving reimbursements.
“Ultimately, we are looking to this data to help us lower denial rates and readmission rates,” said Craig Hewitt, Chief Financial Officer, Holston Medical Group. “We believe R1’s revenue cycle management services will help us achieve those specific goals, as well as expand upon the value we currently deliver to patients and our population.”
“As complexity continues to accelerate, care providers are increasingly looking for help in improving their business performance. We are honored that CarePoint and Holston Medical Group have placed their trust in R1 to demonstrate our ability to provide results in organizations across the full spectrum of care settings and reimbursement models.” said Gary Long, Chief Commercial Officer, R1.
About R1 RCM
R1 is a leading provider of technology-enabled revenue cycle management services which transform a health system’s revenue cycle performance across settings of care. R1’s proven and scalable operating model, the R1 Performance Stack℠, seamlessly complements 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.
About CarePoint Health
CarePoint Health is one of the largest privately held and democratically owned multispecialty physician practices in the U.S. with over 600 healthcare specialists providing care across Colorado, Utah, Kansas, Wyoming, Idaho, and Montana. Its telemedicine division, Blue Sky Telehealth, provides services in twenty-five states. Learn more about CarePoint’s clinical specialties and telehealth offerings at http://carepointhc.com.
About Holston Medical Group
As one of the largest, physician-owned, multi-specialty provider groups within the Southeast, Holston Medical Group’s “Family of Care” consists of more than 800 employees, including 150 physicians and mid-level providers in its provision of 24-hour medical/surgical coverage. Regarded as a national leader in clinical research as well as electronic health record integration and utilization, Holston Medical Group provides convenient locations throughout Northeast Tennessee and Southwest Virginia.
R1 RCM Inc.