R1 RCM Strengths, Domain Expertise, and Key Differentiators
R1 RCM is a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers. Their services help healthcare providers generate sustainable improvements in their operating margins and cash flows while also enhancing patient, physician, and staff satisfaction for customers.
R1 RCM Recent Developments
In August 2021, R1 RCM introduced R1 Entri, an intelligent patient engagement solution. Entri’s intuitive digital self-service capabilities empower patients to search, book, register and pay for care all in one experience, on any device. Entri was created to simplify the healthcare process and eliminate the pervasive friction that plagues today’s patient journeys and provider interactions. Powered by R1 proprietary technologies, automation and deep domain expertise, Entri enables the total transformation of the revenue cycle process, helping patient and provider interactions start strong and consistently develop into lasting relationships.
R1 RCM Mergers and Acquisitions (M&A) Activities
In January 2022, R1 RCM has entered into a definitive agreement to acquire Cloudmed, provider of Revenue Intelligence solutions for healthcare providers, in an all-stock transaction. Cloudmed’s revenue intelligence platform combines cloud-based data architecture and deep domain expertise with intelligent automation to analyze large volumes of medical records, payment data, and complex medical insurance models to identify opportunities to deliver additional revenue to customers.
In May 2021, R1 RCM acquired VisitPay, the digital payment solution provider for approximately $300 million in cash. VisitPay’s cloud-based platform is used by the nation’s largest and most innovative health systems to transform the payment experience and drive both improved patient satisfaction and higher collection yield. VisitPay’s enterprise platform gives healthcare providers and patients the tools needed to make the healthcare financial experience simple and efficient.
In April 2020, R1 RCM has completed the acquisition of SCI Solutions, Inc. (SCI). The combination of R1 and SCI is expected to deliver enhanced value for healthcare providers by enabling them to expand digital front door strategies for their patients, improve operating efficiency, and increase capacity utilization, among other benefits.
R1 RCM Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying R1 RCM applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of R1 RCM and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified R1 RCM, R1 Entri customers.
R1 RCM Overview
Ownership: - RCM (NASDAQ)
Number of Employees: 21000
Key Verticals: Healthcare,
R1 RCM Key Enterprise and Cloud Applications
R1 RCM, R1 Entri
R1 RCM Revenues, $M:
|Type/Year||2020||2021||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
R1 RCM Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
R1 RCM Enterprise Applications Revenues By Functional Markets, $M:
R1 RCM Enterprise Applications Revenues By Verticals, $M:
R1 RCM Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
R1 RCM Direct vs Indirect sales
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R1 RCM Customers - Breakdown by Geo, Size, Vertical and Product
No. of R1 RCM Customers: 900
No. of R1 RCM Enterprise Applications Customers: 900
No. of R1 RCM Cloud Customers: x
No. of R1 RCM Cloud Subscribers: x
R1 RCM customers typically are healthcare providers, including health systems, hospitals, and physician groups. R1 RCM seek to develop strategic, long-termrelationships with customers and focus on providers understand the value of the operating model and have demonstrated success in both the provision of healthcare services and the ability to achieve financial and operational results.
R1 RCM Market Opportunities, M&A and Geo Expansions
R1 RCM revealed that Jay Sreedharan will join the executive team as its first Chief Technology and Digital Officer. Sreedharan will lead R1’s efforts in creating digital solutions that drive higher-value experiences for patients and providers. In this role, Sreedharan will be responsible for delivering on R1’s promise of digital transformation and growth, including strategy, engineering, product development, architecture and implementation, as well as future digital M&A and partnership activity.
R1 RCM Risks and Challenges
COVID-19 continues to be characterized as a pandemic by the World Health Organization. Despite the availability of vaccines, the emergence of new virus variances and surges in cases and hospitalizations have required international,federal, state and local governments to continuously update certain restrictions on businesses and travel, and future changes or elimination of such restrictions cannotbe predicted with certainty. These measures continue to impact R1 RCM workforce and operations and the operations of their customers. These impacts continue to include the need for personal protective equipment and other protective measures for front-line employees and work-from-home arrangements. Additionally, R1 RCM have seen declines in patient volumes, which reflects the response of many patients and providers to governmental restrictions, economic impacts, and concerns regarding thespread of the virus in which elective procedures and physician visits have been delayed or cancelled.
R1 RCM Ecosystem, Partners, Resellers and SI
In May 2022, R1 RCM a provider of technology-driven solutions that transform the patient experience and financial performance for healthcare providers, and ScionHealth have entered into an agreement that will make R1 the exclusive provider of revenue cycle management (RCM) services for ScionHealth’s 61 long-term acute care hospitals (LTACHs). Launched in December 2021, ScionHealth is a new health system comprised of 61 LTACHs previously owned by Kindred Healthcare and 18 short-term acute care community hospitals previously owned by LifePoint Health.
R1 RCM Cloud Infrastructure Insights
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- R1 RCM Public Cloud and Infrastructure (IaaS)
- R1 RCM Platform (PaaS)
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- R1 RCM Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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