Under a proposed expanded 10-year agreement, R1 is slated to be the primary RCM partner for AMG sites in 22 states and the District of Columbia, according to a news release.
Ascension has used R1 for acute care-based revenue cycle services since 2016.
The parties said in the release the expanded relationship adds $2.5 billion of net patient revenue under R1 management, including the $500 million from the current Wisconsin Ascension pilot.
“As caregivers our focus is always on what’s best for those we serve. That includes not only the clinical care we provide them, but their entire experience, from when they first search for a provider or site of care, to their treatment and follow-up, all the way through the reconciliation of the billing process,” Joseph Cacchione, MD, president of Ascension Medical Group, said in a statement. “R1 will help us make sure our billing and reimbursement processes are clear, fair and efficient.”
R1 and Ascension anticipate reaching a definitive agreement and beginning the arrangement in the second quarter of this year.
More articles on healthcare finance:
$92M accounting error causes Edward-Elmhurst’s operating loss to widen
Missouri hospital files for bankruptcy: 4 things to know
Ascension’s operating income dips 78% in first half of FY 2018
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.