Builds largest digital workforce in healthcare revenue cycle with more than four million automated transactions annually to deliver superior financial results
CHICAGO, June 24, 2019 – R1 RCM Inc. (NASDAQ:RCM), a leader in technology-enabled revenue cycle management (RCM) services to healthcare providers, announced it will demonstrate how its enhanced RCM solutions – strengthened by intelligent automation – can improve the patient’s financial experience and deliver superior financial results to healthcare provider organizations at booth #961 and in the Innovation Hub at HFMA’s Annual Conference.
“R1 has automated thousands of individual revenue cycle tasks and is currently processing over four million automated transactions annually with secure connections to over 30 EMR systems, contributing to the creation of the largest digital workforce in healthcare revenue cycle management,” said Gary Long, executive vice president and Chief Commercial Officer, R1.
One of the solutions streamlined and enhanced by R1’s automation efforts is the Patient Experience platform which R1 will demonstrate at HFMA. Winner of the 2018 HFMA Most Innovative New Product award, the Patient Experience platform is part of R1’s overall offerings of technology-enabled solutions designed to deliver measurable results such as an increase in net patient revenue up to 5 percent, a reduction in cost to collect of up to 15 percent, and a 50 percent reduction in final denial write offs.
The Patient Experience platform is a digital self-service solution that enables patients to manage their data in a single easy-to-use environment, from appointment to appointment, thereby markedly improving patient satisfaction. It now includes a patient estimator which enables price transparency at the time of scheduling to help patients make more informed financial decisions, and the ability to create prior authorizations, easing the administrative burden for patients and providers. The solution earns patient Net Promoter Survey (NPS) ratings of nine or 10 out of 10 by a majority of patients.
R1 will continue to evaluate, test and design new technologies like the Patient Experience platform for health systems, hospitals and physician groups at its new Technology & Innovation Center. In collaboration with Intermountain Healthcare, the 30,000 square foot facility had a grand opening on June 11, 2019, in Salt Lake City with guests including former Governor and Secretary of Health and Human Services, Mike Leavitt, Dr. Marc Harrison, president and CEO of Intermountain Healthcare and Bert Zimmerli, executive vice president and CFO of Intermountain Healthcare.
“By embracing a digital transformation approach to RCM, we will remain the trusted partner to continually meet the needs of our customers, provide the ability to grow and scale their organizations, and deliver on their financial and operational goals,” said Gary Long.
To support our efforts to automate and transform the revenue cycle, R1 will:
- Host Todd Craghead, vice president of revenue cycle at Intermountain Healthcare, at booth #961 to share his perspective on Intermountain Healthcare’s experience working with R1 as their exclusive RCM provider across all Intermountain Healthcare patient care sites.
- Sponsor the HFMA keynote presentation “The Winds of Change are Blowing” by Marcus Whitney, founder and CEO of Health: Further on Tuesday, June 25 from 8:15 a.m. – 9:30 a.m. in the Chapin Theater.
Forward Looking Statements
This press release includes statements that may constitute “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In particular, statements about future events and relationships, plans, future growth and future performance, are forward-looking statements. These statements are often identified by the use of words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “designed,” “may,” “plan,” “predict,” “project,” “would” and similar expressions or variations, although not all forward-looking statements contain these identifying words. We have based these forward-looking statements on our current expectations and projections about future events as of the date hereof and any forward-looking statements contained herein should not be relied upon as representing our views as of any subsequent date. Subsequent events and developments, including actual results or changes in our assumptions, may cause our views to change. While we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections, or expectations prove incorrect, actual results, performance, financial condition, or events may vary materially and adversely from those anticipated, estimated, or expected.
About R1 RCM
R1 RCM is a leading provider of technology-enabled RCM services which transform and solve revenue cycle performance challenges across hospitals, health systems and group physician practices. 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.
Natalie Joslin 678-585-1206