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R1 RCM Inc. (NASDAQ: RCM) is a distinguished leader in the field of revenue cycle management, serving hospitals, health systems, and physician groups throughout the United States. Leveraging cutting-edge technology, R1 RCM Inc. provides comprehensive solutions designed to enhance the financial performance and patient experience for healthcare providers.
Founded with a mission to streamline healthcare operations, R1 RCM's suite of services includes end-to-end revenue cycle management, technology-driven solutions, and process workflows aimed at improving operating margins, cash flows, and overall satisfaction among patients, physicians, and staff. The company’s technology solutions seamlessly integrate with healthcare providers' existing infrastructure, resulting in sustainable improvements in net patient revenue and operational efficiency.
In recent developments, R1 RCM Inc. reported preliminary financial results for the fourth quarter of 2023, anticipating revenues between $563 to $567 million, marking a 6 to 6.5 percent increase compared to the previous year. This growth is primarily driven by double-digit increases in modular revenue, despite some delays in new client transitions and lower incentive fees. The company also anticipates an operating income of $36 to $39 million and a net loss of $8 to $10 million, with an adjusted EBITDA ranging from $163 to $166 million.
R1 recently completed the acquisition of Acclara from Providence, one of the nation’s largest health systems, establishing a 10-year partnership that is expected to significantly enhance the company’s revenue cycle services. This acquisition is projected to contribute over $625 million in revenue and approximately $185 million to adjusted EBITDA within five years.
R1 RCM's commitment to innovation is evident in its recent advancements through generative AI, and its environmental, social, and governance (ESG) efforts, which align with the United Nations Sustainable Development Goals. The company's 2023 ESG report showcases numerous achievements, underlining its dedication to responsible global citizenship and sustainable business practices.
For further information and updates, visit the company’s official website at r1rcm.com.
R1 RCM has announced a strategic expansion with Ascension, extending their partnership through 2031. This agreement enhances R1’s role in providing patient experience technologies and revenue cycle management services. Ascension aims to improve patient and provider interactions by standardizing its technology with R1’s solutions. Executives from both organizations expressed optimism about the partnership, highlighting its potential to deliver a superior consumer experience and improve financial performance.
R1 RCM, a leader in patient experience and healthcare financial solutions, will present at two investor conferences: the BofA Securities Virtual Healthcare Conference on May 13, 2021, at 11:45am ET and the RBC Capital Markets Global Healthcare Conference on May 18, 2021, at 2:30pm ET. The presentations will be accessible via a live audio webcast on R1's Investor Relations page, with replays available for 90 days. R1 focuses on enhancing net patient revenue and reducing costs for healthcare providers.
R1 RCM, a leader in technology-driven healthcare solutions, will release its financial results for Q1 2021 on May 4, 2021, before market open. A conference call is scheduled at 7:00 a.m. CT (8:00 a.m. ET) on the same day to discuss the results and outlook. Interested parties can join by dialing 833-968-2190 or via the company's website for a live webcast. R1's solutions aim to enhance patient experience and improve financial performance for healthcare providers.
R1 RCM (NASDAQ: RCM) announced the appointment of David Dill, former president and CEO of LifePoint Health, to its board of directors effective April 18, 2021. Dill has over 30 years of experience in healthcare management and finance, having held significant roles at LifePoint and Fresenius Medical Care. His appointment is expected to bring valuable insights and shape the company's future direction as it continues to innovate in healthcare solutions. R1 RCM aims to enhance patient experiences and financial performance for healthcare providers.
R1 RCM announced that its management will present at the KeyBanc Life Sciences & MedTech Investor Forum on March 23, 2021, at 10:45 am ET. The event will be accessible via a live audio webcast on R1's Investor Relations website, with a replay available for 90 days post-event. As a leader in technology-driven solutions, R1 RCM enhances patient experiences and financial performance for healthcare providers, focusing on improving net patient revenue and reducing operational costs.
R1 RCM (NASDAQ: RCM) released its inaugural ESG Report detailing its commitment to sustainability and corporate responsibility. The report aligns with the UN Sustainable Development Goals, showcasing R1's dedication to transparency and accountability. Key principles include innovation in patient care, integrity in operations, and inclusion in workforce culture. Highlights include signing the Action for Diversity & Inclusion pledge and mobilizing employees to a secure work-from-home model during COVID-19. R1 believes these efforts will enhance value for customers, employees, and shareholders.
R1 RCM Inc (NASDAQ: RCM) reported strong financial results for Q4 and full-year 2020. Q4 revenue reached $328.4 million, a 4.6% increase year-over-year, with GAAP net income soaring to $78.6 million, compared to $7.8 million last year. For 2020, total revenue was $1,270.8 million, up 7.1% from 2019, with GAAP net income climbing to $117.1 million from $12.0 million. The company expects 2021 revenue between $1,410 million and $1,460 million, demonstrating strong market demand and operational momentum.
R1 RCM, a leader in technology-enabled revenue cycle management services, announced its participation in two investor conferences. The first is the SVB Leerink 10th Annual Global Healthcare Conference on February 25 at 10:00 AM ET, followed by the Cowen 41st Annual Health Care Conference on March 3 at 12:20 PM ET. Both presentations will be available via a live audio webcast on R1's Investor Relations website, with replays accessible for 90 days. R1 RCM aims to enhance patient revenue and streamline operations for healthcare providers.
R1 RCM, a top provider of technology-enabled revenue cycle management services, will announce its financial results for Q4 and full year 2020 on February 18, 2021, before market open. The management will host a conference call at 7:00 a.m. CT to discuss the results and future business outlook. Investors can access the call by dialing the provided numbers or via a webcast on the company's website. R1 RCM is recognized for its scalable operational models that enhance revenue and cash flow while lowering costs and improving patient experiences.
R1 RCM (NASDAQ: RCM) announced an agreement to convert 8.00% Series A Convertible Preferred Stock held by TCP-ASC ACHI Series LLLP into approximately 139.3 million shares of common stock. This transaction includes a one-time cash payment of $105 million, funded from R1's balance sheet. Post-conversion, Ascension and TowerBrook will own about 54% of R1's common shares. This move simplifies R1's capital structure and aligns shareholder interests, with expectations of closing later this month.
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