R1 RCM Holdco Inc. is a healthcare technology company focused on transforming revenue cycle management for providers. The company addresses administrative inefficiencies in the U.S. healthcare system - estimated to cost $500 billion annually - by developing AI and automation solutions. Its work is concentrated within the United States, serving the hospital and broader healthcare provider sector.
The firm's primary offering is the Phare platform, which it describes as a Revenue Operating System. The platform uses agentic AI to enable real-time adjudication and aims to align payer-provider incentives. Additionally, R1 operates R37, an internal AI lab dedicated to advancing automation solutions for the industry.
According to the company, its technology has recovered over $6 billion in annual revenue for clients and automated more than 200 million tasks. R1 reports partnerships with 95 of the top 100 U.S. health systems and claims two decades of operator experience in the space. Key reported outcomes include a 5-7% yield boost and a 50% reduction in cost to collect for its partners.
