The venture aims to leverage machine learning and artificial intelligence to boost revenue and cash flow while lowering the cost of bill collecting. It's slated to launch this summer.
Chicago-based revenue-cycle management company R1 RCM reported a net loss of $40.2 million in the fourth quarter of 2017 on $140.3 million in net services revenue compared with net income of $13.2 million on $106.2 in revenue million a year earlier.
Outside of small contracts, R1 RCM hasn't announced major revenue-cycle clients it didn't already have ties with since its 2011 partnership with Intermountain Healthcare. Investors will closely watch Friday's financial release for signs the company, formerly Accretive Health, is on the rebound.
Presence Health plans to partner with R1 RCM, a company affiliated with its probable future owner, for its revenue cycle operations. Under the pending deal, approximately 1,000 Presence employees will transfer to R1's payroll.
Salt Lake City-based Intermountain Healthcare will outsource 2,300 nonclinical employees to revenue-cycle management company R1 RCM, a move that is expected to save the integrated health system $70 million over the next three years.
Bitcoin futures recently launched on a mainstream exchange. But the healthcare industry has been slow to adopt the cryptocurrency for anything more than paying ransom for breached data.
While the change will save the federal government $9.3 billion over 10 years, healthcare lawyers say the new payment environment sets hospitals up for a tough battle with commercial payers as they try to cover their costs and bring care closer to patients.
The latest results of Medicare's Hospital Value-Based Purchasing program were dismal but unsurprising, and some policy experts are beginning to wonder if the program should be shelved.
Unlike healthcare thought leaders and policy wonks, only a scant few practicing physicians are committed to population health management, value-based care and the “triple aim.”
Quest Diagnostics is outsourcing its revenue-cycle services to Optum, a giant UnitedHealth Group subsidiary, to reduce costs and improve cost transparency to customers. Quest will also become Optum's primary vendor for member biometric screening services Optum provides to employers and health plans.
Some considerations for health care systems when faced with challenges over their charge-capture process.
Without a shared vision, the likelihood that your employed network will be an asset going forward is reduced.