Revision as of 19:09, 17 November 2017

R1 RCM (formerly Accretive Health) is one of the largest hospital revenue cycle management companies and provides its services to hospital, health systems and physician groups across the United States. The company provides end-to-end revenue cycle management services as well as modular services targeted across the revenue cycle including pre-registration, financial clearance, charge capture, coding, billing & follow-up, underpayments, and denials management.

Recent Growth

In 2015, Ascension selected R1 RCM as its exclusive hospital revenue cycle partner. As part of the transaction, Ascension and TowerBrook Capital Partners invested $200M to support growth initiatives at R1 RCM.^[1] In mid-2017, R1 RCM announced a further expansion of the agreement with Ascension to include an additional $1.5B in NPR which included physician group revenue cycle services.^[2]

=References

R1 RCM, Inc.
Company type	Public
Traded as	Nasdaq: RCM
Founded	2003
Headquarters	Chicago, Illinois
Website	www.r1rcm.com

^ Murphy, Brooke (Feb 16, 2016). "Accretive Health, Ascension finalize 10-year partnership". Becker's Hospital CFO Report.
^ Gooch, Kelly (Max 10, 2017). "R1 RCM expands, amends agreement with Ascension". Becker's Hospital CFO Report. {{cite web}}: Check date values in: |date= (help)

External links

R1 RCM company website

Category:Financial services companies of the United States Category:Companies based in Chicago Category:Financial services companies established in 2003 Category:Health care companies based in Illinois

[1] Murphy, Brooke (Feb 16, 2016). "Accretive Health, Ascension finalize 10-year partnership". Becker's Hospital CFO Report.

[2] Gooch, Kelly (Max 10, 2017). "R1 RCM expands, amends agreement with Ascension". Becker's Hospital CFO Report. {{cite web}}: Check date values in: |date= (help)

[1]

[2]

@@ Line 1: / Line 1: @@
-{{advert|date=July 2015}}
 {{Infobox company
-| name     = Accretive Health, Inc.
+| name     = R1 RCM, Inc.
-| logo     = Accretive Logo.png
 | type     = [[Public company|Public]]
-| traded_as        = {{OTCQX |ACHI}}
+| traded_as        = {{NASDAQ |RCM}}
 | foundation       = {{nowrap|2003}}
 | location_city    = [[Chicago]], [[Illinois (U.S. state)|Illinois]]
-| homepage         = {{URL|http://www.accretivehealth.com/}}
+| homepage         = {{URL|http://www.r1rcm.com/}}
 }}
-'''Accretive Health'''  is  one of the [[United States]]' largest hospital revenue cycle management companies<ref>{{cite web|title=Accretive CEO to seek resisting as it rebuilds|url=http://www.chicagotribune.com/business/breaking/ct-accretive-health-ceo-0406-biz-20150403-story.html|work=[[Chicago Tribune]]|first=Ellen Jean|last=Hirst|date=April 3, 2015}}</ref> and sells this and other finance-related services to the [[Health care industry|healthcare industry]].  The company is located in [[Chicago, Illinois]].  The company provides end-to-end revenue cycle management [[solution]]s through proprietary operational processes, host-agnostic technology solutions and centralized shared service operations – capabilities include patient registration, insurance and benefit verification, clinical documentation and coding, billing and follow-up services{{citation needed|date=August 2015}}.
+'''R1 RCM''' (formerly Accretive Health) is one of the largest hospital revenue cycle management companies and provides its services to hospital, health systems and physician groups across the United States. The company provides end-to-end revenue cycle management services as well as modular services targeted across the revenue cycle including pre-registration, financial clearance, charge capture, coding, billing & follow-up, underpayments, and denials management.
-==History==
-Accretive Health was founded in 2003 by Mary Tolan and Michael Cline. Tolan served as the company's president, chief executive officer, and board director until 2013. Cline served as board chairman between 2009 and 2013.<ref>{{cite web|title=Accretive Health plans board refresh|url=http://www.chicagobusiness.com/article/20150520/NEWS03/150529967/accretive-health-plans-board-refresh|work=[[Crain's Chicago Business]]|first=Kristen |last=Schorsch|date=May 20, 2015}}</ref> In July 2011, an Accretive Health employee's laptop containing [[Encryption|unencrypted]] patient data was stolen from their personal vehicle. In 2012, responding to a Senate inquiry, the company stated that nine thefts of patient data-bearing company laptops had occurred in 2011, and that 30 company laptops had lacked encryption.<ref>{{cite web|title=Accretive's stolen laptop contained patient names, Swanson says|url=http://www.mprnews.org/story/2012/06/19/news/swanson-accretive-health-new-allegations|work=[[MPR News]]|first=Elizabeth|last=Stawicki|date=June 19, 2012}}</ref> As a consequence, in 2013, Accretive Health entered into a 20-year settlement with the [[Federal Trade Commission]] over its data security measures.<ref>{{cite web|title=Accretive Health Reaches Accord With FTC Over Adequacy of Data Security Measures|url=http://www.bna.com/accretive-health-reaches-n17179881133/|work=[[Bloomberg BNA]]|author=|date=January 6, 2014}}</ref><ref>{{cite web|title=Accretive Health Settles FTC Charges That It Failed to Adequately Protect Consumers' Personal Information|url=https://www.ftc.gov/news-events/press-releases/2013/12/accretive-health-settles-ftc-charges-it-failed-adequately-protect|publisher=Federal Trade Commission|work=ftc.gov|author=|date=December 31, 2013}}</ref> In July 2012, Accretive Health entered into a $2.5 million settlement with the [[Minnesota Attorney General]] following an investigation into the company's debt collection practices.<ref name="reuters">{{cite web|title=Accretive Health to exit Minnesota under settlement|url=https://www.reuters.com/article/2012/07/30/us-accretivehealth-lawsuit-idUSBRE86T1L120120730|publisher=Reuters|first=Zeba|last=Siddiqui|date=July 30, 2012}}</ref> The company admitted no wrongdoing.<ref name="reuters" /> In April 2013, Mary Tolan stepped down<ref>{{cite web|title=Accretive's Tolan stepping down as chairman|url=http://www.chicagobusiness.com/article/20131113/NEWS03/131119891/accretives-tolan-stepping-down-as-chairman|work=Crain's Chicago Business|first=Andrew L. |last=Wang|date=November 13, 2013}}</ref> as CEO. Tolan was replaced by former [[Dell]] executive Stephen Schuckenbrock.<ref>{{cite web|title=Accretive replaces CEO Mary Tolan|url=http://www.chicagobusiness.com/article/20130402/NEWS03/130409945/accretive-replaces-ceo-mary-tolan|work=Crain's Chicago Business|first1=Kristen|last1=Schorsch|first2=Thomas A.|last2=Corfman|date=April 2, 2013}}</ref> In March 2014, as a result missed financial restatements, Accretive Health was delisted from the [[New York Stock Exchange]].<ref>{{cite web|title=Accretive Health delisted from NYSE|url=http://articles.chicagotribune.com/2014-03-17/business/chi-accretive-health-delisted-from-nyse-20140317_1_federal-patient-protection-laws-financial-statements-illinois-hospital-patients|work=Chicago Tribune|first=Peter |last=Frost|date=March 17, 2014}}</ref> [[Over-the-counter (finance)|Over-the-counter]] trading continued.  On July 21, 2014, Emad Rizk replaced Schuckenbrock as CEO.<ref>{{cite web|title=Accretive Health Appoints Emad Rizk, M.D., as President and CEO |url=http://accretivehealth.com/accretive-health-appoints-emad-rizk-m-d-as-president-and-ceo/ |publisher=Accretive Health |date=July 10, 2014 |deadurl=yes |archiveurl=https://web.archive.org/web/20150704094805/http://accretivehealth.com/accretive-health-appoints-emad-rizk-m-d-as-president-and-ceo/ |archivedate=July 4, 2015 }}</ref> In December 2014, the company restated certain previously filed financial statements<ref>{{cite web|title=Happy New Year: Accretive Health returns to the black… for 2013|url=http://www.modernhealthcare.com/article/20141230/NEWS/312309963|work=Crain's Chicago Business|first=Beth |last=Kutscher|date=December 30, 2014}}</ref> and, in June 2015, announced that they had completed their 2014 [[SEC filings]]<ref name="bwire">{{cite web|title=Accretive Health to Release 2014 Results and Host Conference Call on June 23
-|url=http://www.businesswire.com/news/home/20150616006697/en/Accretive-Health-Release-2014-Results-Host-Conference#.VYrBcmBqyM4|work=[[Business Wire]]|date=June 16, 2015}}</ref> The company filed its 2015 Q2 [[10-Q]] with the [[U.S. Securities and Exchange Commission|SEC]] in August 2015.<ref name="bwire" />
-==References==
+==Recent Growth==
+In 2015, Ascension selected R1 RCM as its exclusive hospital revenue cycle partner.  As part of the transaction, Ascension and TowerBrook Capital Partners invested $200M to support growth initiatives at R1 RCM.<ref>{{cite web|title=Accretive Health, Ascension finalize 10-year partnership|url=http://www.beckershospitalreview.com/finance/accretive-health-ascension-finalize-10-year-partnership.html|work=[[Becker's Hospital CFO Report]]|first=Brooke |last=Murphy|date=Feb 16, 2016}}</ref>  In mid-2017, R1 RCM announced a further expansion of the agreement with Ascension to include an additional $1.5B in NPR which included physician group revenue cycle services.<ref>{{cite web|title=R1 RCM expands, amends agreement with Ascension|url=http://www.beckershospitalreview.com/finance/r1-rcm-expands-amends-agreement-with-ascension.html|work=[[Becker's Hospital CFO Report]]|first=Kelly |last=Gooch|date=Max 10, 2017}}</ref>
+==References=
 {{Reflist}}
 ==External links==
 {{Portal|Chicago|Companies}}
-*[http://www.accretivehealth.com '''Accretive Health''' company website]
+*[http://www.r1rcm.com '''R1 RCM''' company website]
-[[Category:Financial services companies of the United States]]
+[[:Category:Financial services companies of the United States]]
-[[Category:Companies based in Chicago]]
+[[:Category:Companies based in Chicago]]
-[[Category:Financial services companies established in 2003]]
+[[:Category:Financial services companies established in 2003]]
-[[Category:Health care companies based in Illinois]]
+[[:Category:Health care companies based in Illinois]]
-[[Category:Companies formerly listed on the New York Stock Exchange]]
-[[Category:Companies traded over-the-counter in the United States]]