CHICAGO, February 8, 2019 – R1 RCM Inc. (NASDAQ:RCM), a leader in technology-enabled revenue cycle management (RCM) services to healthcare providers, today announced plans to build the R1 Technology and Innovation Center in Salt Lake City in collaboration with Intermountain Healthcare, a large healthcare organization in the Mountain West region.
Scheduled to open in May 2019, the 30,000 square foot facility will be used to evaluate patient needs, test product concepts and elevate creativity and design, tackling some of the biggest problems faced by patients and healthcare organizations. R1 expects adoption of technologies such as AI (artificial intelligence) and RPA (robotic process automation) in the revenue cycle to play a significant role in helping healthcare providers improve their operations. Along with the development of enhanced RCM solutions, the Center will also feature a virtual revenue cycle model office, serve as a client experience center and support the growing tech community in Utah.
“We are pleased to partner with Intermountain Healthcare to develop the next wave of innovative revenue cycle management solutions for healthcare providers,” said Joe Flanagan, President and CEO of R1. “This Technology and Innovation Center leverages R1’s technology investments, Intermountain’s leadership role in healthcare, and the rich pool of talent available in the Salt Lake City area. We are committed to investing in technologies that help providers address these and other challenges which may arise as payment models evolve.”
“The Technology and Innovation Center will position Intermountain Healthcare, R1 and Salt Lake City at the forefront of the healthcare industry’s financial transformation,” said Intermountain Healthcare’s Executive Vice President and CFO, Bert Zimmerli.
A grand opening is planned for May, in which R1 customers, partners and members of the media will be invited to see how the Center will be used to help shape the future of the healthcare industry’s financial transformation.
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, it has 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.
Investors are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements made herein involve risks and uncertainties. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. Our actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, including, but not limited to, our ability to successfully implement the technologies described in this press release and the factors discussed under the heading “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2017 and any other periodic reports that we file with the SEC.
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. To learn more, visit: r1rcm.com.
Intermountain Healthcare is a Utah-based not-for-profit system of 23 hospitals, 170 clinics, a Medical Group with some 2,300 employed physicians and advanced care practitioners, a health insurance and related operations company called SelectHealth, and other health services. Intermountain is widely recognized as a leader in transforming healthcare through evidence-based best practices, high quality and sustainable costs. For more information about Intermountain, visit: intermountainhealthcare.org.
R1 RCM Inc.