In a move designed to support the provision of compassionate, personalized care in the communities it serves, Ascension has decided to partner with Accretive Health for its exclusive revenue cycle solution. Ascension is also acquiring an equity stake in Accretive Health, a leading provider of revenue cycle services and technology to healthcare providers. The transaction is expected to be completed in the first quarter of 2016.
Ascension and Accretive will renew their existing professional services agreement for a term of 10 years. Ascension will transition its integrated national health ministry to the Accretive platform over the next several years, making Accretive the exclusive revenue cycle partner for Ascension and all its health ministries and hospitals, with the exception of AMITA Health/Alexian Brothers Health System and its ministries in Lewiston, Idaho, and Pasco, Washington.
“We look forward to expanding our relationship with Accretive Health and working even more closely with its leadership team to implement a single revenue cycle solution and develop a sustainable, long-term business platform for the company,” said Anthony R. Tersigni, EdD, FACHE, President and Chief Executive Officer, Ascension. “This new partnership will support our strategy of creating clinically integrated systems of care in the communities we serve across the country, strengthening our ability to provide compassionate, personalized care to all, especially persons in poverty and struggling the most.”
The new and existing net patient service revenue managed by Accretive will be transitioned to a fully outsourced model over a period of approximately three years.
“Ascension has been a valued partner of Accretive Health for many years, and we are very pleased to have the opportunity to deepen and extend our strategic alliance and expand the business substantially,” said Emad Rizk, MD, President and Chief Executive Officer of Accretive Health. “At the same time, we look forward to continuing to invest in our technology and service capabilities to further position the business to meet the needs of healthcare providers as they adapt to the rapidly evolving healthcare landscape.”
