R1 Sells EMS RCM Platform to Sarnova for $140M

R1 RCM announced yesterday that it has sold its emergency medical service (EMS) revenue cycle management (RCM) business to Sarnova Holdings for $140 million. Sarnova Holdings is a distributor of healthcare products in the EMS and acute care industries. It is a subsidiary of Patricia Industries. The divestiture of R1’s …

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Price Transparency Helps Healthcare Providers Collect More

For healthcare providers, the bad news is that daily total patient payments declined 47% between mid-March and mid-May, largely due to the coronavirus pandemic, according to data that was released last week by TransUnion. The good news, though, is that point-of-service collection fees were 42% higher during the same time …

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Medical Billing Company Raises $102M in Venture Funding

The hypothesis that if more patients were able to understand their medical bills, more people would pay them helped lead a former doctor to raise more than $100 million for his startup company, Cedar. For Florian Otto, who started Cedar in 2016 with co-founder Arel Lidow, it was his wife’s …

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R1 Buys Cerner’s RCM Business for $30M

RI RCM announced yesterday that it is purchasing RevWorks, the revenue cycle management arm of Cerner. R1 is spending $30 million on the acquisition, according to published reports. A filing with the Securities and Exchange Commission made by R1 in relation to the acquisition indicated that the amount will be …

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Hospitals Suffer Worst Month Ever

It will likely not come as a surprise to anyone, but hospitals across the country had their worst financial month ever in April, as revenue and expenses moved in opposite directions, but not in the good way, according to a report. Overall, hospital’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and …

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