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R1 RCM

#2389

Rank

$6.04B

Marketcap

US United States

Country

R1 RCM
Leadership team

Mr. Joseph Gerard Flanagan (CEO & Director)

Ms. Rachel Wilson (Exec. VP, CFO & Treasurer)

Mr. John M. Sparby (Exec. VP of Operations & Delivery and COO)

Products/ Services
Health Care, Hospital, Information Technology, Infrastructure, Medical
Number of Employees
20,000 - 50,000
Headquarters
Chicago, Illinois, United States
Established
2003
Company Registration
SEC CIK number: 0001910851
Net Income
5M - 20M
Revenue
Above - 1B
Traded as
RCM
Social Media
Overview
Location
Summary
R1 RCM Inc. provides technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. It offers end-to-end revenue cycle management (RCM) services, which address the spectrum of revenue cycle challenges faced by healthcare providers. The company also provides modular services, including physician advisory services, which assists healthcare organizations in complying with payer requirements regarding whether to classify a hospital visit as an in-patient or an out-patient observation case for billing purposes; practice management services that offers administrative and operational support for patient care and outsource non-core functions; revenue integrity solutions, including charge capture, charge description master maintenance, and pricing services; coding management services, such as business intelligence and analysis, human capital management, accountability framework, and quality management programs; patient experience; and business office services. In addition, the company offers software-as-a-service based scheduling and patient access solutions. The company was founded in 2003 and is headquartered in Murray, Utah.
History

R1 RCM was founded as Accretive Health 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.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. As a consequence, in 2013, Accretive Health entered into a 20-year settlement with the Federal Trade Commission over its data security measures.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. The company admitted no wrongdoing. Accretive Health was barred from operating in Minnesota for two to six years under a settlement agreement announced July 30th, 2012 by Minnesota Attorney General Lori Swanson.In April 2013, Mary Tolan stepped down as CEO. Tolan was replaced by former Dell executive Stephen Schuckenbrock.In March 2014, as a result of missed financial restatements, Accretive Health was delisted from the New York Stock Exchange. Over-the-counter trading continued.

On July 21, 2014, Emad Rizk replaced Schuckenbrock as CEO.In December 2014, the company restated certain previously filed financial statements and, in June 2015, announced that they had completed their 2014 SEC filings The company filed its 2015 Q2 10-Q with the SEC in August 2015.In 2015, Ascension selected Accretive Health as its exclusive hospital revenue cycle partner. As part of the transaction, Ascension and TowerBrook Capital Partners invested $200M to support growth initiatives at Accretive Health.In 2017, Accretive Health was renamed as R1 RCM.In mid-2017, R1 RCM announced a further expansion of the agreement with Ascension to include an additional $1.5B in net patient revenue handled, which included physician group revenue cycle services.In August 2020 R1 RCM was hit with a ransomware attack.

Mission
We are empowering healthcare providers with the technology and services they need to maximize revenue and ensure compliance while optimizing the patient experience.
Vision
To be the healthcare industry leader in providing superior, technology-enabled services to maximize revenue and ensure compliance while ensuring cost containment.
Key Team

Mr. Gary S. Long (Exec. VP & Chief Commercial Officer)

Mr. Lee Rivas (Pres)

Mr. Jay Sreedharan (Chief Technology & Digital Officer)

Mr. Richard B. Evans Jr. (Sr. VP, Corp. Controller & Chief Accounting Officer)

Mr. Atif A. Rahim (Sr. VP of Investor Relations & Bus. Devel.)

Mr. Sean Radcliffe (Exec. VP, Gen. Counsel & Corp. Sec.)

Mr. Corey Perman (Exec. VP of Compliance & Risk)

Recognition and Awards
R1 RCM has been recognized by Becker's Healthcare, Modern Healthcare, and Great Place to Work as a leading employer of choice.
References
R1 RCM
Leadership team

Mr. Joseph Gerard Flanagan (CEO & Director)

Ms. Rachel Wilson (Exec. VP, CFO & Treasurer)

Mr. John M. Sparby (Exec. VP of Operations & Delivery and COO)

Products/ Services
Health Care, Hospital, Information Technology, Infrastructure, Medical
Number of Employees
20,000 - 50,000
Headquarters
Chicago, Illinois, United States
Established
2003
Company Registration
SEC CIK number: 0001910851
Net Income
5M - 20M
Revenue
Above - 1B
Traded as
RCM
Social Media