Becker's has reported on five health systems that have opted to outsource finance jobs or other revenue cycle functions since Oct. 4:
1. R1 RCM completed its acquisition of revenue cycle management company Acclara from Renton, Wash.-based Providence on Jan. 17. The closing of the deal begins a 10-year agreement to provide comprehensive RCM services for Providence.
2. Tallahassee (Fla.) Memorial HealthCare entered into a RCM partnership Jan. 9 with Ensemble Health. The health system's CFO, Priscilla Needham, said the partnership "supports our goal of providing exceptional care for our patients and meeting the healthcare needs of the communities we serve."
3. Arlington, Va.-based VHC Health struck a 15-year, end-to-end revenue cycle partnership with Med-Metrix on Jan. 3. As part of the partnership, about 200 VHC Health revenue cycle employees are now employed by Med-Metrix.
4. Winston-Salem, N.C.-based Novant Health and Dallas-based Tenet Healthcare on Nov. 17 signed a definitive agreement for Novant to acquire three Tenet hospitals and affiliated operations in South Carolina. The agreement specifies that Tenet's Conifer Health Solutions subsidiary will enter into a new and expanded 15-year contract to provide revenue cycle management services for the three South Carolina hospitals and related operations. The transaction is expected to be completed in early 2024.
5. Optum said Oct. 4 it is hiring more than 800 employees from Waukesha, Wis.-based ProHealth Care and will begin managing the health system's revenue cycle management, information technology, informatics, analytics and inpatient care management.