R1 RCM Announces 10-Year End-to-End Revenue Cycle Management Partnership with St. Clair Health
MURRAY, Utah, Aug. 25, 2022 (GLOBE NEWSWIRE) — R1 RCM Inc. (NASDAQ: RCM) (“R1”), announced today a 10-year partnership with St. Clair Health to serve as its primary provider of end-to-end revenue cycle management (RCM) services. St. Clair Health is a nationally recognized, integrated health system serving residents of Southwestern Pennsylvania. It is the parent organization of St. Clair Hospital; St. Clair Medical Group, a multispecialty group encompassing 150 primary and specialty care physicians; and a growing number of outpatient care locations across the region.
R1’s fully integrated, purpose-built technology platform, operating methods, enterprise-wide analytics and intelligent automation are designed to seamlessly integrate with St. Clair Health’s current infrastructure. The top goals of the partnership include optimizing revenue cycle processes, improving patient access platforms and strengthening workflow standardization.
St. Clair Health chose to partner with R1 because of its proven ability to deliver better outcomes and improve the patient experience. Another key factor was the alignment of culture between the two organizations, as both R1 and St. Clair Health value the contributions of current revenue cycle team members. As such, approximately 150 St. Clair Health revenue cycle employees will be welcomed into the R1 workforce with comparable positions, pay and benefits, as well as additional growth opportunities based on R1’s size, scale and resources.
“With R1, we have found an innovative, experienced partner who prioritizes investments in both people and technology,” said Eric Luttringer, senior vice president and chief financial officer at St. Clair Health. “We are confident this partnership will build on our team’s high-quality work and equip us with new technology and tools that will strengthen St. Clair Health’s position as a regional leader in quality, patient satisfaction and value.”
“We are pleased to be selected by St. Clair Health as their RCM partner and warmly welcome them into the R1 family of clients,” said Gary Long, executive vice president and chief commercial officer at R1. “Together we can deliver an integrated revenue cycle solution that will not only improve the patient experience, but also deliver new technology to improve workflow and performance.”
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 St. Clair Health
St. Clair Health is a nationally recognized, integrated health system with more than 2,500 employees and 600 physicians serving 500,000 residents of the region. It encompasses St. Clair Hospital; St. Clair Medical Group—a 150-physician multispecialty group; St. Clair Health Foundation; and other related entities. In 2016, St. Clair Health became a member of Mayo Clinic Care Network. As a leader in high value healthcare, it participates with all major insurers. For more information, visit: www.stclair.org.
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 expected benefits of the agreement with St. Clair Health, expectations regarding employees, 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, our ability to retain existing customers or acquire new customers; the development of markets for our revenue cycle management offering; variability in the lead time of prospective customers; competition within the market; breaches or failures of our information security measures or unauthorized access to a customer’s data; delayed or unsuccessful implementation of our technologies or services, or unexpected implementation costs; disruptions in or damages to our global business services centers and third-party operated data centers; the impact of the COVID-19 pandemic on our business, operating results, and financial condition; and 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.
R1 RCM Contacts:
Investor Relations
Atif Rahim
312.324.5476
investorrelations@r1rcm.com
Media Relations
Natalie Pacini
415.335.7641 ext 43
natalie@highwirepr.com
