Intermountain Healthcare Selects R1 for Integrated, Enterprise-wide Revenue Cycle
January 24 2018 - 09:00AM
Business Wire
Expanded Partnership Supports Health System’s
Broader Initiative to Focus Where It Drives Greatest Value: Patient
Care
R1 RCM Inc. (NASDAQ:RCM), a leading provider of
technology-enabled revenue cycle management (RCM) and physician
advisory services to healthcare providers, today announced an
expanded 10-year agreement with longstanding customer Intermountain
Healthcare to be the exclusive RCM provider across all
Intermountain Healthcare patient care sites.
Since 2011, Intermountain has leveraged R1 through a co-managed
service model where R1 worked in combination with Intermountain’s
revenue cycle operations team to optimize operations from
scheduling and patient access through claims and payment. The
expanded relationship centers on an operating partner model for
fully managed revenue cycle operation across inpatient and
preventative care settings. Intermountain will rely on R1 to
provide and manage the full spectrum of RCM needs.
With R1’s investments in developing the technology and
commercial infrastructure needed to optimally run end-to-end
revenue cycle operations for large health systems, Intermountain
will be able to focus on creating more seamless, cost-effective,
efficient, and patient-centric revenue cycle operations across the
enterprise. R1 will also play a consultative role with
Intermountain in this integrated RCM approach amidst an evolving
healthcare landscape, and one where clinical outcomes link directly
to the revenue cycle.
“We have a self-issued challenge to innovate our own
organization as we look to the type of health system we want and
need to be for patients, members and communities in the years to
come,” said Bert Zimmerli, executive vice president and chief
financial officer of Intermountain. “As we look toward providing
the highest value at the lowest cost, transitioning our revenue
cycle operations to R1 is a critical part of this evolution. R1 has
proven the value it delivers to the business side of what we do,
and the continuous advancements in the company’s services and
technology allow us to expand our relationship with them.”
In conjunction with this partnership, R1 and Intermountain will
create a world-class RCM product development and technology
solution center in Salt Lake City, Utah. With a team focused on
cultivating leading revenue cycle solutions co-located alongside
RCM operations, this center of excellence is poised to be at the
forefront of the healthcare industry’s financial transformation.
Intermountain currently employs a regional focus for RCM operations
like many other health systems across the country; consolidating
RCM operations into a single-geography footprint will help reduce
costs while optimizing operational efficiency and quality. As part
of the arrangement, R1 will welcome 2,300 Intermountain Healthcare
employees to be part of R1.
“Intermountain is a forward-thinking leader in the healthcare
industry,” said Joseph Flanagan, president and CEO of R1. “By
implementing a fully integrated model across its inpatient and
preventative care settings, Intermountain is ready to greatly
improve its RCM. We believe this move speaks to the broader
industry trend of pioneers like Intermountain simplifying RCM with
an enterprise-wide approach to better serve and benefit patients
and providers alike.”
About R1 RCM
R1 serves as the one revenue cycle management partner for select
hospitals and healthcare systems regardless of their payment
models, partner engagement structures, or settings of care. The
Company uses a proven operating model based on the R1 Performance
Stack℠ designed to fit seamlessly into any healthcare
organization’s infrastructure and to enhance the patient
experience, improve provider economics, and provide revenue
predictability. To learn more visit: r1rcm.com.
About Intermountain Healthcare
Intermountain Healthcare is a Utah-based not-for-profit system
of 22 hospitals, 180 clinics, a Medical Group with
some 1,500 employed physicians, 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 www.intermountainhealthcare.org.
Forward Looking Statements
This press release includes information that may constitute
“forward-looking statements,” made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements relate to future, not past, events and
often address our expected future growth, plans and performance or
forecasts. These forward-looking statements are often identified by
the use of words such as “anticipate,” “believe,” “designed,”
“estimate,” “expect,” “forecast,” “intend,” “may,” “plan,”
“predict,” “project,” “target,” “will,” or “would,” and similar
expressions or variations, although not all forward-looking
statements contain these identifying words. Such forward-looking
statements are based on management’s current expectations about
future events as of the date hereof and involve many risks and
uncertainties that could cause our actual results to differ
materially from those expressed or implied in our forward-looking
statements. Subsequent events and developments, including actual
results or changes in our assumptions, may cause our views to
change. We do not undertake to update our forward-looking
statements except to the extent required by applicable law. Readers
are cautioned not to place undue reliance on such forward-looking
statements. All forward-looking statements included herein 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 integrate transitioned Intermountain employees, as
well as the factors discussed under the heading “Risk Factors” in
our annual report on Form 10-K for the year ended December 31,
2016, our 2017 quarterly reports on Form 10-Q and any other
periodic reports that the Company files with the Securities
and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20180124005256/en/
R1 RCM Inc.Investor Relations:Atif Rahim,
312-324-5476investorrelations@r1rcm.comorMedia Relations:Natalie
Joslin, 678-585-1206media@r1rcm.com
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