The premier rankings again validate R1's commitment to solving the top revenue cycle challenges for healthcare systems across the full revenue cycle spectrum.
Today's healthcare industry is facing an unprecedented combination of challenges. We are honored to be recognized by KLAS as a leader during this critical time,' said
R1 Ranks 1 in KLAS for Ambulatory RCM Services
In 2023, KLAS named R1 as the market leader in Ambulatory Revenue Cycle Management (RCM) Services for the third consecutive year.
As the industry grapples with rising costs, labor shortages and economic uncertainties, R1's proprietary technology and operational excellence optimize workflows by removing the in-house administrative burdens associated with billing, coding and claims. R1's ambulatory solutions help hospital-led and independent physician groups in hospital and office-based care settings to improve their financial performance by reducing the cost to collect and increasing net patient service revenue.
Cloudmed Ranks 1 in KLAS for Denials Management Services
Additionally, Cloudmed, an R1 company, and a leader in Revenue Intelligence solutions for healthcare providers, has been named by KLAS as the market leader in Denials Management Services. This marks Cloudmed's first win in the new Denials Management Services category.
With hospital denial rates now higher than ever, health systems today are overwhelmed with added administrative and regulatory work, impacting patients' continuity of care. Cloudmed Denials Recovery combines denial experts and technology-enabled services to manage, prevent, and reverse claim denials while expediting reimbursement and delivering a better patient experience.
Cloudmed Ranks 1 in KLAS for Robotic Process Automation
Cloudmed was also named the market leader in Robotic Process Automation for the company's third consecutive win in this category.
Automation services are growing in importance for health systems as labor shortages continue and organizations seek increased efficiency. With ready-to-configure and custom automation capabilities at over 85 hospital and health system clients, Cloudmed's Automation Suite is built and backed by revenue cycle experts, helping to automate complex and labor-intensive processes, while ensuring accuracy and compliance.
The 2023 Best in KLAS report highlights the top-performing healthcare IT solutions as determined by extensive evaluations and conversations with thousands of healthcare providers,' said
About
R1 is a leading provider of technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. R1's proven and scalable operating models seamlessly complement a healthcare organization's infrastructure, quickly driving sustainable improvements to net patient revenue and cash flows while reducing operating costs and enhancing the patient experience.
About Cloudmed
Cloudmed, an R1 company, partners with over 3,100 healthcare providers in
About KLAS
KLAS is a research and insights firm on a global mission to improve healthcare delivery by amplifying the provider's voice. Working with thousands of healthcare professionals and clinicians, KLAS gathers data and insights on software, services, and medical equipment to deliver timely reports, trends and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. Learn more at klasresearch.com.
Forward-Looking Statements
This press release includes information that may constitute 'forward-looking statements' made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events and relationships, plans, future growth, and future performance. These statements are often identified by the use of words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend,' 'designed,' 'may,' 'plan,' 'predict,' 'project,' 'target,' 'contemplate,' 'will,' 'would,' 'seek,' 'see,' and similar expressions or variations or negatives of these words, although not all forward-looking statements contain these identifying words. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of R1's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, assurance, prediction or definitive statement of fact or probability. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to risk and uncertainties related to: (i) geopolitical, economic, and market conditions, including heightened inflation, slower growth or recession, changes to fiscal and monetary policy, higher interest rates, currency fluctuations, and challenges in the supply chain; (ii) R1's ability to timely and successfully achieve the anticipated benefits and potential synergies of the acquisition of Cloudmed; (iii) R1's ability to retain existing customers or acquire new customers; (iv) the development of markets for R1's revenue cycle management offering; (v) variability in the lead time of prospective customers; (vi) competition within the market; (vii) breaches or failures of R1's information security measures or unauthorized access to a customer's data; (viii) delayed or unsuccessful implementation of R1's technologies or services, or unexpected implementation costs; (ix) disruptions in or damages to R1's global business services centers and third-party operated data centers and (x) the ongoing impact of the COVID-19 pandemic on R1's business, operating results, and financial condition. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the heading 'Risk Factors' in R1's annual report on Form 10-K for the year ended
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Email: investorrelations@r1rcm.com
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