R1 RCM Inc. (NASDAQ:RCM), a leading provider of technology-enabled revenue cycle management services to healthcare providers, today announced that it will acquire Cerner RevWorks services business and commercial, non-federal client relationships. RevWorks associates will be offered positions with R1, and both companies have committed to seamless integration between the company’s technology-enabled services platform and Cerner’s software.
As part of the transaction, Cerner will extend R1’s comprehensive revenue cycle capabilities and expertise to Cerner clients and new prospects, helping drive sustainable financial improvements for providers while enhancing their patients’ overall experience. The closing of the acquisition is expected to take place in the third quarter of 2020, subject to customary closing conditions.
R1’s electronic health record-agnostic revenue cycle platform seamlessly complements a healthcare organization’s infrastructure, quickly driving transformative improvements to net patient revenue and cash flows while reducing operating costs.
“We look forward to working collaboratively with Cerner to deliver superior results for healthcare providers and the communities they serve,” said Gary Long, executive vice president and chief commercial officer of R1. “With our interoperable technology and end-to-end platform, we are well-positioned to serve Cerner’s customers, as well as other healthcare organizations across the country.”
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“Cerner’s overall goal is to deliver client success and accelerate our ability to deliver scalable innovations,” said Brenna Quinn, senior vice president of revenue cycle management at Cerner. “We’re focused on having the right strategies, powerful and proven platforms, world-class talent, and partners like R1 to meet these goals.”
Source: BioSpace