R1 RCM Inc., one of the leading American healthcare revenue cycle management companies, has reportedly announced its plans to acquire Cerner Corporation’s RevWorks revenue-cycle management business for an undisclosed amount. Anticipated to be completed in the third quarter of 2020, the deal will facilitate effortless integration between Cerner’s software and R1’s technology-enabled services platform.
Sources cite that this integration will provide Cerner clients access to R1’s revenue cycle capabilities and expertise and bring about new prospects. This will help to accelerate financial improvement for providers while improving overall patient experience. RevWorks workforce will also be offered jobs with R1
For the record, R1 is offering revenue-cycle management services to health systems, hospitals, and physicians groups. The company’s electronic health record-agnostic revenue cycle platform effortlessly complements a healthcare company’s infrastructure, rapidly boosting transformative improvements to total patient revenue and cash flows along with decreasing operating costs.
Speaking on which, Gary Long, Chief Commercial Officer, and Ex. Vice President and of R1 said that the company looking forward to working with Cerner to offer superior outcomes for healthcare providers and the communities they cater to. With the company’s end-to-end platform and interoperable technology, R1 is well-positioned to cater to Cerner’s customers, as well as other healthcare firms across the nation, Mr. Long added.
Brenna Quinn, Sr Vice President of revenue cycle management at Cerner said that the company aims to deliver client success and boost its ability to offer scalable innovations.
She added that the company is focused on having superior platforms, world-class talent, right strategies, and partners like R1 to achieve these goals.
Meanwhile, Kirkland & Ellis LLP served as a legal advisor while Centerview Partners LLC served as financial advisor to R1. On the other hand, Greenhill & Co., LLC served as an advisor to Cerner.