American Physician Partners Announces Revenue Cycle Partnership Extension with R1 to Support Its Continued Growth in Emergency Medicine Market
R1 RCM (NASDAQ: RCM) announced an extension of its revenue cycle management partnership with American Physician Partners (APP) until 2031. This collaboration began in 2019 and has led to significant operational improvements, including enhanced collections and reduced customer service wait times. R1's technology-driven solutions have streamlined APP's financial processes and equipped them to navigate reimbursement changes tied to the CARES Act. APP acknowledges the vital role R1 plays in supporting their growth and operational efficiency, especially amid the challenges posed by COVID-19.
- Partnership extended with APP until 2031.
- Improved private pay collections and overall collections per visit within the first year.
- Reduced customer service wait times to less than 30 seconds.
- Successfully navigated reimbursement changes related to the CARES Act.
- None.
MURRAY, Utah, Oct. 25, 2021 (GLOBE NEWSWIRE) -- R1 RCM Inc. (NASDAQ:RCM), a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, announced today that American Physician Partners (APP), a recognized leader in emergency medicine, hospital medicine and intensive care management services, with more than 150 hospital and system partnerships, has extended its revenue cycle management (RCM) partnership with R1 until 2031.
Seeking to streamline operations and drive performance improvement at scale, APP selected R1 as a revenue cycle partner in 2019. After achieving immediate value from R1’s technology-driven operating model and industry expertise, APP determined R1 to be the right partner to support its long-term growth objectives and transitioned all of the revenue cycle work previously managed by three national RCM providers to R1, the largest independent, end-to-end RCM provider in hospital-based medicine.
Recognized as Best in KLAS® for Ambulatory RCM Services in the 2021 Best in KLAS: Software and Services Report, R1’s end-to-end revenue cycle model hardwires best practices and processes into its proprietary technology platform while leveraging intelligent automation, advanced data analytics and technical expertise to streamline workflows, improve efficiencies and drive superior outcomes.
R1 utilized its expertise to re-design APP’s patient financial experience, implementing mobile functionality, predictive outreach solutions and a proprietary emergency medicine billing system. Deployment of proprietary automation within R1’s built-for-purpose Emergency Department billing system, which now performs more than
R1 has substantially improved APP’s private pay collections and overall collections per visit within the first year, while reducing customer service wait times to less than 30 seconds. Additionally, as a strategic partner, R1 has supported APP’s success in navigating reimbursement changes related to the CARES act and is co-leading APP’s effort on No Surprises Act readiness.
“R1's investment in technology, combined with the unsurpassed experience and knowledge of their delivery team, has clearly separated them from other RCM vendors,” said John Rutledge, president and CEO of American Physician Partners. “Even during COVID, R1 was able to help us accelerate our performance and growth. We are very pleased with our decision to consolidate our business with R1. R1 has proven they have the infrastructure in place to manage the complexities of emergency medicine and support our continued expansion across the country.”
“This long-term partnership will provide us with a uniquely integrated revenue cycle platform that will allow us to continue to rapidly grow our business,” added Jim Blue, vice president of revenue cycle management for APP. “It will also allow us to take advantage of R1’s current and future investments in technology and innovation, providing a better experience to our hospital partners and to our patients.”
“It’s crucial for organizations like APP to work with an experienced partner that is committed to the emergency medicine market and makes necessary investments to not only deliver significant operational and financial improvements, but also provide national scalability to meet their growth needs,” said Vijay Kotte, executive vice president and chief solutions officer at R1. “We look forward to partnering with APP for another 10 years and helping them achieve their goals.”
About R1 RCM
R1 is a leading provider of technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. 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.
About American Physician Partners
Headquartered in Brentwood, Tennessee, American Physician Partners was founded in 2015 to provide a better alternative to hospitals for their clinical outsourcing needs. Since its inception, the company has grown to approximately more than 150 care sites and has become a recognized leader in the provision of exceptional emergency medicine, hospital medicine, and critical care management services to hospitals and healthcare systems nationwide. Positively impacting every hospital it has the privilege of serving, APP has become the fastest-growing clinical outsourcing provider by remaining true to its purpose of exceeding the expectations of its patients, providers and hospital partners.
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,” “will,” “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. Our actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, such as the factors discussed under the heading “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2020, our quarterly reports on Form 10-Q, and any other periodic reports we file with the Securities and Exchange Commission.
R1 RCM Contacts:
Investor Relations
Atif Rahim
312.324.5476
investorrelations@r1rcm.com
Media Relations
Natalie Bennett
678.585.1206
media@r1rcm.com
FAQ
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