Hatred of billing and payment processes is a time-honored tradition in healthcare. Two of the biggest reasons it’s so frustrating as a patient are the lack of transparency and digital elements that we expect out of any typical consumer experience.
R1, a provider of technology-enabled revenue cycle management (RCM) services is working to change this, announcing today its continued expansion into the physician practice market with the addition of CarePoint Health, one of the largest privately-held multispecialty physician practices in the U.S., and Holston Medical Group, one of the largest physician-owned, multi-specialty physician groups within the Southeast.
CarePoint Health: Proving Value with Data Analytics
Based in Denver, Colorado, CarePoint Health has selected R1 to provide its revenue cycle management services to support the company’s hospital medicine, emergency medicine, neurology, and neurosurgery service lines. This summer, the CarePoint organization expanded its reach with the announcement of a merger agreement between CarePoint Healthcare and Emergency Physicians Integrated Care (EPIC) of Salt Lake City, Utah. The two independently owned and operated physician management companies formed the new entity CarePoint Health.
CarePoint Health is now one of the largest privately held multispecialty physician practices in the U.S. with over 600 providers across Colorado, Utah, Kansas, Wyoming, Idaho, and Montana.
“Our positive history with Intermedix, recently acquired by R1, also contributed to CarePoint choosing R1,” said Bob Parker, chief operating officer, CarePoint Health. “They have become trusted members to our team and we believe their expertise and experience will enable us to deliver the best possible services, at the best value.”
Holston Medical Group: Using Data to Streamline Value-Based Care Contracting
Holston Medical Group has selected R1 to provide revenue cycle management services across their physician practice locations in Tennessee and Virginia.
With the addition of revenue cycle data and analytics from R1 in areas such as charge entry, coding, billing, denial management, education improvement and more from R1, Holston Medical Group will further their ability to succeed in value-based contracting models and drive improvements in quality and performance, including lowering denial and readmission rates and improving reimbursements.
“Ultimately, we are looking to this data to help us lower denial rates and readmission rates,” said Craig Hewitt, Chief Financial Officer, Holston Medical Group. “We believe R1’s revenue cycle management services will help us achieve those specific goals, as well as expand upon the value we currently deliver to patients and our population.”