R1 Increases Footprint in Hospital-Based Physician Market with Addition of Prominent Emergency Physician Groups
R1 RCM Inc. (NASDAQ:RCM) announced its partnership with EMpower Emergency Physicians and Integrated Care Physicians (ICP) to enhance patient experience and financial operations. This collaboration focuses on improving revenue cycle management services across various healthcare facilities. EMpower cited R1's impressive data analytics capabilities for real-time data access, while ICP aims to achieve cost savings and increased revenue yield. Both groups see this partnership as critical amid challenges posed by the pandemic.
- Partnership with EMpower Emergency Physicians and ICP expected to enhance patient satisfaction and financial performance.
- R1's data analytics offering will improve operational efficiency and care delivery.
- ICP experienced success with R1, achieving top performance in collections per visit.
- The partnership comes amid a decrease in patient volume and uncertainty due to the pandemic.
EMpower Emergency Physicians and Integrated Care Physicians select R1 revenue cycle services to drive improvements in patient experience and financial operations
CHICAGO, Sept. 29, 2020 (GLOBE NEWSWIRE) -- R1 RCM Inc. (NASDAQ:RCM), a leading provider of technology-enabled revenue cycle management services to healthcare providers, announced its continued expansion into the hospital-based physician market with the addition of EMpower Emergency Physicians, a premier physician group in Arizona, and Integrated Care Physicians (ICP), a rapidly-expanding emergency medicine and hospitalist provider management company in Tampa, Florida.
EMpower Emergency Physicians selected R1 to provide revenue cycle management services across the group’s emergency department presence at acute care hospitals and freestanding emergency departments to drive enhancements in patient satisfaction, quality and performance and gain better visibility into the financial, clinical and operational sides of the business.
“We looked into R1 after they were highly recommended from a trusted colleague, and it quickly became clear that they were the partner needed to create lasting business improvements,” said Dr. Anne Burns, president, EMpower Emergency Physicians. “One of the specific areas we were really impressed with was R1’s data analytics offering which will give us access to real-time patient data, eliminating the guesswork typically involved with coverage planning and help us enhance overall care delivery.”
Integrated Care Physicians selected R1 to provide revenue cycle management services across their provider management network to achieve cost savings and increase revenue yield.
“Integrated Care Physicians acquired a practice using R1’s services, and that practice became a top performer within ICP from a collections per visit perspective,” said Matthew Jackson, chief financial officer, Integrated Care Physicians. “Those results inspired us to explore a larger relationship with R1. We believe that partnership will help us improve financial performance and the patient’s experience, which is critically important now as we all face a decrease in volume and future uncertainty brought on by the pandemic.”
“We are honored that EMpower Emergency Physicians and Integrated Care Physicians have selected R1 during these challenging times,” said Vijay Kotte, executive vice president of physician services, R1. “We’re confident our revenue cycle management solutions will deliver increased financial performance and support continued growth for both of these organizations.”
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.
About EMpower Emergency Physicians
EMpower Emergency Physicians was founded in 2003 as a democratic physician managed group with eight original partners. The focus of the group was to help restructure and analyze business practices to improve patient care and satisfaction. Over the years the group has grown exponentially and now contracts with four medical centers in Arizona. EMpower’s Emergency Physicians excel at improving the quality of care patients receive while increasing hospital revenue and standing in the communities they serve.
About Integrated Care Physicians
Established in conjunction with BelHealth in August 2017, Integrated Care Physicians is a provider of Emergency Medicine and Acute Care provider management formed with the intent to provide clients with personal and customized service that is sorely lacking in today's marketplace. ICP provides expertise in operations and clinical integration for Emergency and Hospital Medicine. ICP's service offering provides customized solutions tailored to the needs of each facility, including recruitment, credentialing and process flow redesign.
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,” “designed,” “estimate,” “expect,” “intend,” “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, including, but not limited to the factors discussed under the heading “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2019, our quarterly reports on Form 10-Q, and any other periodic reports we file with the Securities and Exchange Commission.
Contacts:
Investor Relations
Atif Rahim
R1 RCM Inc.
312-324-5476
investorrelations@r1rcm.com
Media Relations
Natalie Joslin
678.585.1206
media@r1rcm.com
FAQ
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