R1 RCM, a provider of revenue cycle management and physician advisory services, and St. Louis-based Ascension agreed to amend and expand their relationship.
Chicago-based R1 RCM, formerly Accretive Health, and Ascension finalized a 10-year partnership in February 2016. Under the new amendment, R1 RCM will offer more services to Ascension, resulting in an estimated $1.5 billion increase in net patient revenue handled by the company compared to the 2016 agreement, according to a news release.
The $1.5 billion increase involves approximately $500 million related to physician group revenue cycle management services, which R1 RCM will offer Ascension under the new agreement, the release states. The services include the R1 technology suite, coding, billing, collections, denials management and customer service.
Both parties said the $1.5 billion increase also involves approximately $1 billion from the addition of a health system acquired by Ascension that was not part of the previous 2016 agreement.
Overall, R1 RCM expects the onboarding of $2.2 billion in net patient revenue from its Ascension partnership, including the $1.5 billion increase, to begin in the fourth quarter of 2017, according to the release.