The transaction, expected to close in the third quarter of 2021, combines two major players in rev cycle.
The transaction is expected to close in the third quarter of 2021, subject to regulatory approval and other closing conditions.
VisitPay's cloud-based platform aims to streamline the patient financial experience with consolidated digital statements across multiple visits, care settings, and family members.
Its payment platform can be integrated across all major acute and ambulatory billing systems. Its clients include Intermountain, Integris, Geisinger, Henry Ford Health System, and many other health systems.
According to the companies, VisitPay's financial engagement technology complements R1’s patient access technology, which unifies key patient engagement touchpoints, including orders, scheduling, clearance, arrivals, and now, with the acquisition, billing and payments.
"By removing the friction from these interactions, our clients create a better overall experience for their patients," Kent Ivanoff, VisitPay CEO, said in a statement.
Last year, R1 acquired Cerner's RevWorks.
Continue Reading: Why RUSH is Partnering to Improve Rev Cycle Rather than Outsourcing
Alexandra Wilson Pecci is an editor for HealthLeaders.