R1 RCM Inc, a provider of technology-enabled revenue cycle management (RCM) services to healthcare providers, today announced a definitive agreement to acquire SCI Solutions, Inc. (SCI), a Seattle, WA-based provider of SaaS-based scheduling and patient access solutions, for approximately $190 million in cash.
EHR-Agnostic Digital Patient Engagement
Founded in 1999, SCI Solutions improves the health of the health system by operating the industry’s largest EHR-agnostic care coordination marketplace, enabling patients, health plans, referring providers and rendering provider facilities to securely navigate, communicate and transact digitally in more than 400 geographic markets.
SCI’s platform streamlines the patient and provider experience, creating efficient care networks where health systems’ capacity is digitally and conveniently accessible to all market constituents. With consumer self-scheduling and provider order facilitation, SCI’s EHR-agnostic patient access and care coordination solutions support more than 94,000 providers and 1,200 sites of care that comprise $225B of potential net patient revenue across the country.
“R1 and SCI share a common vision of improving the patient experience in healthcare and reducing the administrative burden on providers,” said Joel French, CEO of SCI Solutions. “By leveraging R1’s deep operating experience, leading revenue cycle tools and scale in the industry, SCI’s potential to meaningfully engage consumers at every point in their healthcare journey can be fully realized.”
Acquisition Benefits for R1
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Patient scheduling is a critical component of the revenue cycle process, and yet is too often a major pain point for referring providers and health systems. SCI’s capabilities integrated into R1’s revenue cycle solution will offer the broadest and deepest tech-enabled patient intake solution available. R1 expects to deliver enhanced value for its customers by enabling providers to expand digital front door strategies for their patients, improve operating efficiency, and increase capacity utilization, among other benefits.
SCI’s digital patient experience platform allows patients to search for physicians, schedule appointments and complete their onboarding across all care settings, resulting in an improved experience for patients and streamlined workflows for patient scheduling and access teams.
“Patient scheduling is a critical component of the revenue cycle process, and yet is too often a major pain point for referring providers and health systems,” said Joe Flanagan, President and CEO of R1. “With SCI’s capabilities integrated into our leading revenue cycle solution, we believe that R1 offers our customers the broadest and deepest tech-enabled patient intake solution available. We look forward to welcoming the SCI team to R1.”
The transaction is expected to close in the second quarter of 2020, subject to regulatory approval and other closing conditions. R1 intends to fund the transaction with a combination of cash from its balance sheet and debt.
Source: HIT Consultant
