R1 RCM Inc. [NASDAQ: RCM]: An End-to-End Intelligent Automation Ecosystem for RCM

Notably, IA is not meant to replace all the revenue cycle work handled by humans, and that’s what makes R1’s unique operating model pivotal. R1’s ecosystem makes digital tools carry out routine and redundant tasks, reducing the reliance on the human workforce for these time-consuming tasks. Meanwhile, it lets human staff handle the complex tasks that require additional skill sets and expertise, like exception handling and complex patient interactions. In order to facilitate it, the integrated workflow platform continuously tracks the activities on a given workflow item and decides if that action has to be handled by humans or bots. While humans work on the high-risk or low confidence exceptions, they can place them back into the workflow for the bots to handle once fixed. The model is as intuitive as it is efficient!

The numbers behind further substantiate the model’s efficacy. Incredibly, R1’s operating model has been enabling healthcare providers across the country to increase the net patient revenue (NPR) by 5 percent, minimize the cost to collect by 20 percent, and lower the bad-debt expense by 25 percent.

Besides the end-to-end RCM process automation, R1 also delivers other services to optimize RCM and enhance the patient-provider relationship, such as a patient experience digital platform, patient-friendly billing, valuebased reimbursement enablement, charge capture, and underpayment recovery, and much more.

Owing to such expansive competencies, R1 has already carved a niche out for itself as the leading provider of technology-enabled RCM services that transform and solve revenue cycle performance challenges across hospitals, health systems, and group physician practices. For organizations vying to transform their financial performance and patient experience today, R1 offers that one all-encompassing solution.