Chicago-based Presence Health plans to deploy R1 RCM's end-to-end revenue cycle services across its 10 hospitals and more than 150 Illinois physician care locations.
The two parties signed a non-binding letter of intent, under which R1 would manage Presence Health's $2.2 billion annual net patient revenue, according to a news release. Approximately 1,000 employees would also transition from Presence Health to R1 as part of the arrangement.
Presence Health and R1 said in the release they expect to ink a definitive agreement and implement the new arrangement in the second quarter of 2018.
The letter of intent comes as Presence Health signed a definitive agreement to join St. Louis-based Ascension, a longtime R1 client.
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