Intermedix

Name

Intermedix

Legal name

R1

Website

https://intermedix.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Intermedix (R1 RCM) provides AI-powered revenue cycle management solutions, including its Phare agentic platform, to healthcare providers, government agencies, and corporations via enterprise operating partnerships and professional services engagements.

Ownership category

akta.pro rank

Product category

Healthcare Revenue Cycle Management Software and Services

NAICS

Computer Systems Design and Related Services (5415), Custom Computer Programming Services (541511), Computer Systems Design Services (541512)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Hospital & Medical Service Plans (6324), Services-Computer Programming Services (7371)

akta.pro primary industry

Revenue Cycle, Coding & Telehealth Compliance Platforms (for provider orgs) (HLALABAM)

akta.pro secondary industries

Payer-Provider Data Exchange (X12, prior auth, claims/clinical attachment) (HLACABAK), Cross-Organization Care Coordination & Referral Interoperability (ADT, eReferrals, transitions of care) (HLACABAO)

Keywords

• Revenue cycle management
• Healthcare SaaS solutions
• Technology-enabled services
• Medical billing software
• Emergency management systems

Headquarters

HQ city

Fort Lauderdale

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Operating Partnerships: Long-term engagements where R1 manages revenue cycle operations and employees for healthcare providers, leveraging two decades of experience as operators and revenue cycle pioneers.
2. Agentic Solutions: Expert R1 engineers partner with customers to integrate, implement and curate AI agents, maximizing performance over time.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Intermedix delivers technology-enabled services and SaaS solutions to health care providers, government agencies and corporations. Its offerings center on the Phare Revenue Operating System, an agentic AI platform that automates complex revenue cycle work through orchestration agents, specialist AI agents and human oversight, with embedded modules for patient intake (Phare Access), automated coding and claim correction (Phare Claim), and autonomous follow-up on remits, denials and outstanding claims (Phare Flow). The company also operates R37 Lab, its AI research division, and provides enterprise operating partnerships where it manages end-to-end revenue cycle operations for healthcare providers.

Product overview

Intermedix (R1 RCM) offers Phare, a comprehensive Revenue Operating System platform with three integrated AI-powered product modules: Phare Access for patient intake and insurance verification, Phare Claim for automated coding and claim correction, and Phare Flow for payment follow-up and reimbursement acceleration. The platform is built on an agentic AI architecture with orchestration agents routing work between specialist AI agents and humans, powered by 20 years of revenue cycle data (280 million transactions annually). The company also operates R37 Lab, its dedicated AI research division, and provides enterprise engagement models including operating partnerships and agentic solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Phare: Healthcare's first Revenue Operating System - an agentic AI platform that automates complex revenue cycle work through an integrated agentic system with orchestration agents routing work between specialist AI agents and humans
• Phare Product Suite
• R37 Lab

Products and services

• Phare Revenue Operating System An agentic AI platform that automates complex revenue cycle work through an integrated agentic system. Orchestration agents route and pass work between specialist AI agents and humans across the revenue cycle, embedding two decades of revenue cycle expertise into every action. Built for healthcare providers seeking end-to-end revenue cycle automation.
• Phare Access AI-powered patient intake solution that blends AI and intuitive tools to verify insurance, secure authorizations and embed accurate patient data at intake for a seamless self-service experience.
• Phare Claim Automated coding and claim correction solution that automatically codes and corrects claims before submission, significantly reducing denials, cutting manual rework and optimizing payments.
• Phare Flow Payment acceleration solution that optimally handles remits, denials and outstanding claims to accelerate reimbursements autonomously and at scale.
• Enterprise Partnerships Long-term engagement offering where Intermedix manages end-to-end revenue cycle operations and employees for healthcare providers, leveraging two decades of operating experience as operators and revenue cycle pioneers.
• Revenue Performance Solutions Smarter tools for better revenue recovery targeting improved financial performance for healthcare providers.
• Physician Solutions Revenue cycle management solutions for physician practices enabling clarity and control over their revenue cycle operations.
• R37 Lab R37 Lab is Intermedix's dedicated AI lab focused on building technology that transforms the unit economics of healthcare through reasoning, language, voice and document capture AI models deployed as integrated agent systems.

Quantifiable outcome

• Increased revenue, reduced costs, faster throughput through optimal work allocation between autonomous agents and humans

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature8 records

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• FinThrive (formerly nThrive): FinThrive offers revenue cycle management technology and services across the patient access, mid-cycle, and back-end RCM workflow for health systems. Like R1, it sells to large hospitals and combines technology with outsourced services, making it a direct peer in the enterprise RCM segment.
• Waystar: Waystar is a healthcare revenue cycle management SaaS platform covering claims management, patient access, denial management, and analytics across hospitals and physician practices. It is a direct competitor to Phare's enterprise RCM suite with comparable target customers and overlapping use cases.
• Availity: Availity operates a payer-provider data exchange network and revenue cycle management platform connecting hospitals, physician practices, and health plans. It serves as a direct competitor in the payer-provider data exchange and provider-facing RCM workflow layer.
• Craneware: Craneware provides revenue cycle, supply chain, and value-based payment solutions primarily to US and UK hospitals. Its charge capture, coding, and reimbursement analytics overlap directly with R1 RCM's mid-cycle and back-end RCM offerings.
• Experian Health: Experian Health delivers patient access, claims management, and identity management solutions to hospitals and physician practices. It targets the same provider RCM pain points as R1 RCM (insurance verification, eligibility, denials) using technology-enabled services.

Broad incumbents

• Change Healthcare (now part of Optum): Change Healthcare operated one of the largest healthcare clearinghouse and RCM technology platforms in the US before being acquired by Optum. It directly overlapped with R1's payer-provider data exchange and claims management capabilities and remains a market reference point.
• Oracle Health (Cerner): Oracle Health (Cerner) is a dominant hospital EHR vendor increasingly bundling revenue cycle and analytics capabilities into its platform. It is a broad incumbent that competes for large health-system technology spend and overlaps with R1 RCM where EHR-vendor RCM suites displace third-party platforms.
• Epic Systems: Epic is the largest US hospital EHR vendor and continues to expand its patient access, billing, and revenue cycle tooling. While it does not outsource RCM operations like R1, it competes for the underlying claims, coding, and patient intake data layer that Phare is built on.
• Optum (UnitedHealth Group): Optum is the largest US healthcare services and technology platform, operating a massive revenue cycle management business alongside its payer (UnitedHealthcare) and analytics businesses. It competes head-on with R1 RCM for large health-system RCM outsourcing contracts and benefits from vertical integration with UnitedHealthcare's payer data.

Emerging players

• Health Catalyst: Health Catalyst provides healthcare data and analytics infrastructure, with growing penetration into revenue cycle analytics, decision support, and AI-driven workflows. It overlaps with R1 RCM's analytics and AI portions of the Phare platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/imxcorp
• LinkedInlinkedin.com/company/intermedix
• Instagraminstagram.com/r1rcm
• Xx.com/imxcorp

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A11 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Intermedix