R1 RCM was founded as Accretive Health in 2003 by Mary Tolan and Michael Cline. Tolan served as the company's president, chief executive officer, and board director until 2013. Cline served as board chairman between 2009 and 2013.[1]
In 2012, responding to a Senate inquiry, the company stated that nine thefts of patient data-bearing company laptops had occurred in 2011, and that 30 company laptops had lacked encryption.[2] As a consequence, in 2013, Accretive Health entered into a 20-year settlement with the Federal Trade Commission over its data security measures.[3][4]
In July 2012, Accretive Health entered into a $2.5 million settlement with the Minnesota Attorney General following an investigation into the company's debt collection practices.[5] The company admitted no wrongdoing.[5] Accretive Health was barred from operating in Minnesota for two to six years under a settlement agreement announced July 30, 2012 by Minnesota Attorney General Lori Swanson.[6]
In April 2013, Mary Tolan stepped down[7] as CEO. Tolan was replaced by former Dell executive Stephen Schuckenbrock.[8]
On July 21, 2014, Emad Rizk replaced Schuckenbrock as CEO.[10]
In December 2014, the company restated certain previously filed financial statements[11] and, in June 2015, announced that they had completed their 2014 SEC filings[12] The company filed its 2015 Q2 10-Q with the SEC in August 2015.[12]
In 2015, Ascension selected Accretive Health as its exclusive hospital revenue cycle partner. As part of the transaction, Ascension and TowerBrook Capital Partners invested $200M to support growth initiatives at Accretive Health.[13]
In 2017, Accretive Health was renamed as R1 RCM.[14]
In mid-2017, R1 RCM announced a further expansion of the agreement with Ascension to include an additional $1.5B in net patient revenue handled, which included physician group revenue cycle services.[15]
^"Accretive Health Reaches Accord With FTC Over Adequacy of Data Security Measures". Bloomberg BNA. January 6, 2014.
^"Accretive Health Settles FTC Charges That It Failed to Adequately Protect Consumers' Personal Information". ftc.gov. Federal Trade Commission. December 31, 2013.
^ abSiddiqui, Zeba (July 30, 2012). "Accretive Health to exit Minnesota under settlement". Reuters.
^Kennedy, Tony; writers, Maura Lerner Star Tribune staff. "Accretive is banned from Minnesota". Star Tribune. Retrieved 2022-08-30.
^Wang, Andrew L. (November 13, 2013). "Accretive's Tolan stepping down as chairman". Crain's Chicago Business.
^Schorsch, Kristen; Corfman, Thomas A. (April 2, 2013). "Accretive replaces CEO Mary Tolan". Crain's Chicago Business.
^Frost, Peter (March 17, 2014). "Accretive Health delisted from NYSE". Chicago Tribune.
^. Accretive Health. July 10, 2014. Archived from the original on July 4, 2015.
^Kutscher, Beth (December 30, 2014). "Happy New Year: Accretive Health returns to the black… for 2013". Crain's Chicago Business.
^ ab"Accretive Health to Release 2014 Results and Host Conference Call on June 23". Business Wire. June 16, 2015.
^Dave Barkholz (January 5, 2017). "Accretive Health changes performance, then name to R1". Modern Healthcare.
^Gooch, Kelly (May 10, 2017). "R1 RCM expands, amends agreement with Ascension". Becker's Hospital CFO Report.
^"Medical Debt Collection Firm R1 RCM Hit in Ransomware Attack — Krebs on Security". 14 August 2020. Retrieved 2020-08-15.
April 11, 2024
major, contributor, this, article, appears, have, close, connection, with, subject, require, cleanup, comply, with, wikipedia, content, policies, particularly, neutral, point, view, please, discuss, further, talk, page, january, 2018, learn, when, remove, this. A major contributor to this article appears to have a close connection with its subject It may require cleanup to comply with Wikipedia s content policies particularly neutral point of view Please discuss further on the talk page January 2018 Learn how and when to remove this template message R1 RCM Inc is an American revenue cycle management company servicing hospitals health systems and physician groups across the United States R1 RCM Inc FormerlyAccretive Health Inc Company typePublicTraded asNasdaq RCMS amp P 400 componentFounded2003 21 years ago 2003 FoundersMary TolanMichael ClineHeadquartersMurray Utah U S Key peopleLee Rivas CEO Servicespre registration financial clearance charge capture coding billing and follow up underpayments denials managementNumber of employees30 000 2023 Websiter1rcm wbr comHistory editR1 RCM was founded as Accretive Health in 2003 by Mary Tolan and Michael Cline Tolan served as the company s president chief executive officer and board director until 2013 Cline served as board chairman between 2009 and 2013 1 In 2012 responding to a Senate inquiry the company stated that nine thefts of patient data bearing company laptops had occurred in 2011 and that 30 company laptops had lacked encryption 2 As a consequence in 2013 Accretive Health entered into a 20 year settlement with the Federal Trade Commission over its data security measures 3 4 In July 2012 Accretive Health entered into a 2 5 million settlement with the Minnesota Attorney General following an investigation into the company s debt collection practices 5 The company admitted no wrongdoing 5 Accretive Health was barred from operating in Minnesota for two to six years under a settlement agreement announced July 30 2012 by Minnesota Attorney General Lori Swanson 6 In April 2013 Mary Tolan stepped down 7 as CEO Tolan was replaced by former Dell executive Stephen Schuckenbrock 8 In March 2014 as a result of missed financial restatements Accretive Health was delisted from the New York Stock Exchange 9 Over the counter trading continued On July 21 2014 Emad Rizk replaced Schuckenbrock as CEO 10 In December 2014 the company restated certain previously filed financial statements 11 and in June 2015 announced that they had completed their 2014 SEC filings 12 The company filed its 2015 Q2 10 Q with the SEC in August 2015 12 In 2015 Ascension selected Accretive Health as its exclusive hospital revenue cycle partner As part of the transaction Ascension and TowerBrook Capital Partners invested 200M to support growth initiatives at Accretive Health 13 In 2017 Accretive Health was renamed as R1 RCM 14 In mid 2017 R1 RCM announced a further expansion of the agreement with Ascension to include an additional 1 5B in net patient revenue handled which included physician group revenue cycle services 15 In June 2020 R1 RCM acquired the RevWorks business line of the Cerner Corporation url https www r1rcm com news r1 completes acquisition of revworks 7CIn August 2020 R1 RCM was hit with a ransomware attack 16 References edit Schorsch Kristen May 20 2015 Accretive Health plans board refresh Crain s Chicago Business Stawicki Elizabeth June 19 2012 Accretive s stolen laptop contained patient names Swanson says MPR News Accretive Health Reaches Accord With FTC Over Adequacy of Data Security Measures Bloomberg BNA January 6 2014 Accretive Health Settles FTC Charges That It Failed to Adequately Protect Consumers Personal Information ftc gov Federal Trade Commission December 31 2013 a b Siddiqui Zeba July 30 2012 Accretive Health to exit Minnesota under settlement Reuters Kennedy Tony writers Maura Lerner Star Tribune staff Accretive is banned from Minnesota Star Tribune Retrieved 2022 08 30 Wang Andrew L November 13 2013 Accretive s Tolan stepping down as chairman Crain s Chicago Business Schorsch Kristen Corfman Thomas A April 2 2013 Accretive replaces CEO Mary Tolan Crain s Chicago Business Frost Peter March 17 2014 Accretive Health delisted from NYSE Chicago Tribune Accretive Health Appoints Emad Rizk M D as President and CEO Accretive Health July 10 2014 Archived from the original on July 4 2015 Kutscher Beth December 30 2014 Happy New Year Accretive Health returns to the black for 2013 Crain s Chicago Business a b Accretive Health to Release 2014 Results and Host Conference Call on June 23 Business Wire June 16 2015 Murphy Brooke Feb 16 2016 Accretive Health Ascension finalize 10 year partnership Becker s Hospital CFO Report Dave Barkholz January 5 2017 Accretive Health changes performance then name to R1 Modern Healthcare Gooch Kelly May 10 2017 R1 RCM expands amends agreement with Ascension Becker s Hospital CFO Report Medical Debt Collection Firm R1 RCM Hit in Ransomware Attack Krebs on Security 14 August 2020 Retrieved 2020 08 15 Retrieved from https en wikipedia org w index php title R1 RCM amp oldid 1214397422, wikipedia, wiki, book, books, library,
