Over-Hyped Ascension Biller R1 RCM Debacle Culminated With $45M USD Settlement

I mention some deeper research into medical biller R1 RCM. It was announced in August, 2024 TowerBrook Capital Partners and Clayton, Dubilier & Rice (CD&R) would acquire the healthcare technology company in a deal that values it at $8.9 billion USD. TowerBrook and nonprofit hospital operator Ascension Health were the company’s largest shareholders. Ascension (19 states / 140 hospitals, 160000+ associates & 36000+ affiliated providers) is R1 RCM''s top client.

In December 2023, R1 RCM settled a stockholder's litigation lawsuit in which it was charged that R1 directors as well as the Company’s controlling stockholders, Ascension Health Alliance and TowerBrook Capital Partners, breached their fiduciary duties in connection with the negotiation of a recapitalization transaction and adoption of an investor rights agreement containing provisions. A settlement was reached for $45,400,000 USD.

Leading up to this, I mention the insights of a 2023 94 page report by Jehoshaphat Research. Accroding to WIkipedia, there, "it's asserted that RCM's “revenues and profits are grossly overstated,” that certain reported revenue growth has been “derived from inputs based on assumptions about future collections” which will eventually “collapse,” and that the Company's revenue is “chronically inflated.” The report also points out that RCM has “recently seen the departures of the CEO, CFO, CCO and CSO,” which “speak to the risks [that] have surfaced.”"

I share a bill I received from R1 RCM Medical Financial Solutions PO BOX 42008 Phoenix AZ (Arizona) 85080-2008 USA for $2,185, stemming from a 4/22/19 ER visit at Saint Vincent East's Hospital (Ascension), Birmingham, Alabama. I would like the bill collector to see who they are collecting money for and for what reasons. I was misdiagnosed this visit, told I had no injury in the CT scans of my head and cervical neck regions (analysis was provided by Doctor Julian Patrick Druhan). I later obtained my records and found in the images that I had broken the underside of my skull, contrary to what I was told. I was later billed the above amount.

My own experience going to an Ascension ER in Birmingham, AL. in 2018-'19. I found that when my disposition was qualified as "self pay" (no insurance or stated source of income) I did not receive adequate medical treatment and was told no injuries appeared in X-Rays and CT that show I had broken my skull (an injury I almost died from - see images in video). Furthermore, you can hear in recorded phone calls in my other videos the lengths other professional doctors will go to support this fallacy. Millionaires who went to college for 10 years to do their jobs risked their professional reputations versus correcting mistakes.