Industry
Ascension Extends R1 Revenue Cycle Deal Through 2037
Ascension is extending its revenue cycle management partnership with R1 through fiscal year 2037, an 11-year renewal announced in a Nov. 9 news release. The extension follows Ascension's enterprisewide rollout of Phare OS, R1's AI-driven revenue operating system that automates pre-bill workflows such as authorization, utilization review, documentation and coding. Ascension CFO Saurabh Tripathi said the goal is to reduce administrative burden and free up resources for patient care. R1 works with 1,000 healthcare providers, including 95 of the top 100 U.S. health systems, and processes more than 1.2 billion payer transactions a year.
Why it mattersHospitals and health systems serving large Medicaid populations may look to similar AI-driven revenue cycle automation to reduce administrative costs tied to authorization and utilization review processes.