R1 RCM expands collaboration with Microsoft

R1 RCM (RCM) announced an expansion of its collaboration with Microsoft (MSFT) to accelerate the development and integration of generative AI into R1’s industry-leading healthcare revenue cycle management platform. R1’s proprietary technology, including automations, workflows and algorithms, built to reduce costs and drive revenue yield for the healthcare industry, will use Microsoft Azure OpenAI Service and other Azure AI services to rapidly introduce new product capabilities and drive greater productivity, improved customer and patient experiences, and faster time to value. “R1 offers a unique combination of software and services, and we are leading the next wave of advanced technology for the healthcare revenue cycle – first with automation, then machine learning, and now with large language models and AI,” said Lee Rivas, chief executive officer of R1. “We are confident that these models applied to broad data sets at scale will enable greater automation and have a transformative impact on revenue cycle performance. Our collaboration with Microsoft opens the door to greater innovation with LLM-based applications that scale across the revenue cycle, supporting both operators and providers to achieve better results and improve patient satisfaction.”