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SCI is being purchased by R1, three days after buying Tonic Health
Posted on Tuesday, 14 January 2020 07:27
R1 RCM, a leader in revenue cycle management (RCM) services to healthcare providers, has agreed to acquire scheduling and patient access software provider SCI Solutions for USD 190.00 million in cash.
The news comes after the target acquired Tonic Health for an undisclosed amount at the end of last week.
SCI’s platform streamlines the patient and provider experience, creating efficient care networks where health systems’ capacity is digitally and conveniently accessible to all market constituents.
The group’s electronic health record-agnostic patient access and care coordination supports more than 94,000 providers and 1,200 care sites that comprise USD 225.00 billion of potential net patient revenue across the US.
R1 plans to fund the deal using a combination of cash from its balance sheet and debt.
Completion is slated for the second quarter of 2020 and remains subject to green light from regulators, among other conditions.
R1 is expecting to deliver enhanced value for its customers by enabling providers to expand digital front door strategies for their patients, improve operating efficiency and increase capacity utilisation, among other benefits.
SCI’s digital patient experience platform allows patients to search for physicians, schedule appointments and complete their onboarding across all care settings, resulting in an improved experience, leading revenue cycle tools and scale in the industry.
Last week, the company picked up software-as-a-service digital self-service technology platform Tonic Health, which is used by patients to complete intake forms, check-in for appointments, self-report outcome measures and make payments.
R1 is a leading provider of RCM services that transform and solve revenue cycle performance challenges in hospitals, health systems and physician groups.
In the nine months to 30th September 2019, the group generated net income of USD 4.20 million, a significant improvement from a loss of USD 39.60 million in the corresponding period of 2018.
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