R1 RCM CEO Lee Rivas said the company is investing in three primary goals to advance its technology in 2023 during the company's Feb. 16 earnings call:
1. Automate tasks typically done manually in revenue cycle.
"R1 has been on a digital transformation journey and we are accelerating progress here as we leverage the Cloudmed capabilities in addition to those built as legacy R1," Mr. Rivas said, according to a transcript of the call from Seeking Alpha. "We ended 2022 with 150 million tasks automated, up from 110 million in the first half of 2022."
2. Make work that cannot be fully automated as efficient as possible.
"To do this, we leverage our deep revenue cycle expertise as well as more than 14,000 proprietary rules and algorithms to allow automated and human-centric workflows to operate seamlessly together," Mr. Rivas said.
3. Leverage data and analytics to its fullest potential.
"With the breadth and depth of data, we see 500 million patient encounters annually covering $900 billion plus of [net patient revenue] across our total customer base," Mr. Rivas said. "We use data and analytics to identify patterns and trends. This allows us to continuously improve the customer experience and our performance."