R1 RCM Inc. (NASDAQ:RCM), a leading provider of technology-driven solutions that transform the patient experience and financial performance for healthcare providers, and ScionHealth have entered into an agreement that will make R1 the exclusive provider of revenue cycle management (RCM) services for ScionHealth’s 61 long-term acute care hospitals (LTACHs).
MURRAY, Utah, May 09, 2022 (GLOBE NEWSWIRE) -- R1 RCM Inc. (NASDAQ:RCM), a leading provider of technology-driven solutions that transform the patient experience and financial performance for healthcare providers, and ScionHealth have entered into an agreement that will make R1 the exclusive provider of revenue cycle management (RCM) services for ScionHealth’s 61 long-term acute care hospitals (LTACHs). Launched in December 2021, ScionHealth is a new health system comprised of 61 LTACHs previously owned by Kindred Healthcare and 18 short-term acute care community hospitals previously owned by LifePoint Health.
The comprehensive partnership is designed to support the ScionHealth portfolio of LTACHs in delivering exceptional patient outcomes with new technology and services. R1 will deliver its fully integrated, purpose-built technology platform with proven operating methods and enterprise-wide analytics. Powered with intelligent automation and executed upon by a diverse and experienced team of RCM experts, R1’s end-to-end and Electronic Health Record-agnostic solutions are designed to integrate seamlessly into ScionHealth’s infrastructure in driving greater efficiency and performance.
ScionHealth embarked on an extensive selection process to identify an innovative and experienced partner that prioritizes investments in both people and technology. It also placed high priority on a partner’s ability to deliver standardization and consistency across the entire organization, invest in new technology to drive better financial outcomes, and position ScionHealth to effectively adapt to future healthcare changes. R1 was chosen as the ideal partner due to its size, scale, expertise, and the alignment of its culture and values to ScionHealth’s. R1’s strengths will enable ScionHealth to achieve better outcomes and lower costs while delivering a more satisfying patient experience.
“R1’s expertise will help us to standardize our approach across our LTACHs, enable greater use of data to drive optimal financial outcomes and ensure our dedicated hospital team members can remain focused on providing patients the highest quality care,” said Joel Day, chief financial officer at ScionHealth. “Equally important, R1’s culture and values align closely with ours, and we are confident that they value the talents and contributions of our revenue cycle team members.”
“We look forward to partnering with ScionHealth to deliver an integrated revenue cycle solution that will not only improve their financial performance and patient experience, but also support their long-term growth objectives,” said Gary Long, executive vice president and chief commercial officer at R1.
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 ScionHealth
ScionHealth strives to provide high-quality, patient-centered acute and post-acute hospital solutions. The health system is focused on driving innovation, serving its communities, and investing in people and technology to deliver compassionate patient care and excellent health outcomes. Based in Louisville, KY, ScionHealth operates 79 hospital campuses in 25 states – 61 long-term acute care hospitals and 18 community hospital campuses and associated health systems. For more information, please visit scionhealth.com.
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,” “seek,” “strive,” “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, 2021, 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 Pacini
415.335.7641 ext 43
natalie@highwirepr.com
