R1 RCM Inc. (NASDAQ: RCM) (“R1”), a leading provider of
technology-driven solutions that transform the patient experience
and financial performance of healthcare providers, today announced
that it was ranked number one in three Best in KLAS categories for
2024, including a fourth consecutive award in the Ambulatory RCM
Services (EHR-Agnostic) category. Now an 11-time Best in KLAS
winner, R1 also earned top rankings this year for Government
Reimbursement Services and Underpayment Recovery Services, the
first and third time winning in these categories, respectively.
“We appreciate the trust our clients place in us to navigate a
challenging environment for providers, and this recognition by KLAS
underscores our dedication to helping providers achieve optimal
financial and operating performance,” said Lee Rivas, CEO of R1
RCM. “Healthcare providers need us now more than ever, and we are
committed to meeting them where they are and helping them on their
journey. The Best in KLAS awards validate our team’s efforts to
understand our clients’ needs and partner with them to deliver
measurable and sustainable results.”
Clients awarded R1 high marks for bringing advanced automation,
deep expertise, and operational performance that helped them
realize strong financial results and enhanced patient experiences.
R1’s ability to integrate across multiple EHR's, maximize earned
reimbursement for Medicare cost reports, and recover missed revenue
opportunities make R1 a trusted partner in delivering comprehensive
solutions that providers seek.
R1 wins 4th
consecutive Best in KLAS award for Ambulatory RCM
ServicesAs healthcare providers confront shrinking margins
resulting from reimbursement and cost pressures, and workforce
shortages, R1 is helping physician groups improve their financial
performance by optimizing workflows that remove the in-house
administrative burdens linked to coding, billing, and AR
follow-up.
R1 clients surveyed by KLAS expressed their satisfaction with
the company’s Ambulatory RCM Services, with one hospital CEO
commenting in October 2023, “R1 is evolving in a challenging and
changing healthcare business environment. They are bringing a
resource to bear.”
R1 earns 3rd award for Underpayment Recovery Services,
first-ever in Government Reimbursement ServicesWith
ongoing regulatory and contractual complexity, healthcare providers
are struggling to optimize revenue. Merging automation and
artificial intelligence with deep healthcare regulatory expertise,
R1’s underpayment recovery and government reimbursement services
are helping clients address the root causes of these issues through
staff education and operational improvement.
According to one hospital executive in December 2023, “We
brought the firm on board and immediately saw increased revenue. R1
was able to point out where we were missing money, and once we
figured out what we were missing, we were able to change our
practices. We can get ahead of things now in ways we couldn't
before. If we don't agree with what the firm recommends, they are
open to discussions because we involve our coders as well. We like
that R1 listens to us.”
“R1 is an excellent partner,” noted another hospital executive
in November 2023. “I would call them a partner, not a vendor. They
have been with us for a long time, and as technology grows, they
grow with it.”
Based entirely on provider and payer feedback, the Best in KLAS
designation is awarded to the software and services solutions that
have the broadest operational and clinical impact on healthcare
organizations. For more information about R1’s award-winning suite
of revenue cycle solutions, visit r1rcm.com.
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 KLASKLAS is a research and insights firm
on a global mission to improve healthcare. Working with thousands
of healthcare professionals and clinicians, KLAS gathers data and
insights on software and services to deliver timely reports and
performance data that represent provider and payer voices and act
as catalysts for improving vendor performance. The KLAS research
team publishes reports covering the most pressing questions facing
healthcare technology today, including emerging technology
insights, that provide early insights on the future of healthcare
technology solutions. KLAS also fosters measurement and
collaboration between healthcare providers and payers and best
practice adoption. Learn more at klasresearch.com.
Forward-Looking Statements
This press release contains “forward-looking
statements” made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements generally relate to future events and
relationships, plans, future growth and future performance. These
statements are often identified by the use of words such as
“anticipate,” “believe,” “contemplate,” “designed,” “estimate,”
“expect,” “forecast,” “goal,” “intend,” “may,” “outlook,” “plan,”
“predict,” “project,” “see,” “seek,” “should,” “target,” “would”
and similar expressions or variations or negatives of these words,
although not all forward-looking statements contain these
identifying words. These statements are based on various
assumptions, whether or not identified in this press release, and
on the current expectations of R1’s management and are not
predictions of actual performance. These forward-looking statements
are provided for illustrative purposes only and are not intended to
serve as, and must not be relied on by any investor as, a
guarantee, assurance, prediction or definitive statement of fact or
probability. Actual outcomes and results may differ materially from
those contemplated by these forward-looking statements as a result
of uncertainties, risks and changes in circumstances, including but
not limited to risks and uncertainties related to R1’s ability to
timely and successfully achieve the anticipated benefits and
potential synergies of the acquisition of Acclara and related
transactions and the impact of the restatements of the financial
statements for non-reliance periods on the price of R1’s common
stock, reputation and relationships with investors, suppliers,
customers, employees and other parties. Additional risks and
uncertainties that could cause actual outcomes and results to
differ materially from those contemplated by the forward-looking
statements are included under the heading “Risk Factors” in R1’s
Amendment No. 1 to Annual Report on Form 10-K/A for the year ended
December 31, 2022, quarterly reports on Form 10-Q and any other
periodic reports that R1 may file with the Securities and Exchange
Commission. The foregoing list of factors is not exhaustive. All
forward-looking statements included herein are expressly qualified
in their entirety by these cautionary statements as of the date
hereof and involve many risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. Subsequent events and
developments, including actual results or changes in R1’s
assumptions, may cause R1’s views to change. R1 assumes no
obligation and does not intend to update these forward-looking
statements, except as required by law. You are cautioned not to
place undue reliance on such forward-looking statements.
Contacts
Investor Relations:Evan Smith, CFA(516)
743-5184investorrelations@r1rcm.com
Media Contact: Yancey CaseyAmendola
Communications (678) 895-9401ycasey@acmarketingpr.com
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