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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 (NASDAQ:RCM) announced that its subsidiary, Project Roadrunner Parent Inc., has filed a registration statement on Form S-4 for its proposed acquisition of Cloudmed, a leading provider of Revenue Intelligence solutions. The acquisition agreement, first disclosed on January 10, 2022, allows R1 shareholders to retain approximately 70% of the combined entity. Cloudmed equity holders will have an 18-month lockup period after the transaction closes, slated for Q2 2022, pending regulatory approvals. The registration includes a preliminary proxy statement with vital information about the deal.
R1 RCM (NASDAQ:RCM) released its 2021 Environmental, Social, and Governance (ESG) report, showcasing its commitment to sustainability and corporate responsibility. The report highlights several initiatives, including the launch of R1 Entri for patient engagement, a 100% rating on the Human Rights Campaign’s Corporate Equality Index, and goals for diverse leadership. The company plans to plant 10,600 trees in India over five years to enhance air quality. This effort aligns with top ESG frameworks like the UN Sustainable Development Goals, marking R1's dedication to improving healthcare experiences.
R1 RCM, a leader in technology-driven healthcare solutions, announced its management team will present at two key conferences in March 2022. The presentations are scheduled for:
- 42nd Annual Cowen Health Care Conference on March 8 at 2:10pm ET
- Barclays Global Healthcare Conference on March 16 at 3:20pm ET
A live audio webcast will be available on R1's website, with a replay accessible for 90 days. R1 RCM aims to enhance patient experience and financial performance for healthcare providers.
R1 RCM reported Q4 2021 revenue of $398.9 million, a 21.5% increase year-over-year. However, GAAP net income fell to $36.0 million, down 54.2% due to a prior year's gain on business disposition. Adjusted EBITDA rose to $95.1 million, marking a 51.7% growth. For the full year, revenue reached $1,474.6 million, a 16.0% increase, while GAAP net income was $97.2 million, down 17.0%. R1 anticipates 2022 revenue between $1,660 million and $1,700 million, with adjusted EBITDA of $385 million to $405 million.
MURRAY, Utah, Feb. 14, 2022 (GLOBE NEWSWIRE) -- R1 RCM (NASDAQ: RCM) will present at the SVB Leerink 11th Annual Global Healthcare Conference on February 18, 2022, at 1:00 pm 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. R1 RCM specializes in technology-driven solutions that enhance patient experiences and improve financial performance for healthcare providers, aiming to boost net patient revenue and reduce costs.
R1 RCM (NASDAQ:RCM) has been awarded the Best in KLAS® designation for the second consecutive year, recognizing its leadership in Ambulatory Revenue Cycle Management (RCM) services. This designation is based on feedback from numerous healthcare providers across the U.S. who highlighted R1's commitment to enhancing patient care and operational performance. R1 scored top marks for loyalty and service, with providers praising its responsiveness and operational efficiency, ultimately improving financial outcomes for physician groups.
R1 RCM Inc. (NASDAQ: RCM) announced that Alex Mandl will not seek re-election to its board during the upcoming annual meeting. Mandl has been a board member since 2013, serving as lead director since 2018 and chair of the audit committee since 2015. R1's leadership praised his invaluable contributions to the board. John B. Henneman, III has been appointed as the new lead director, effective immediately. R1 RCM focuses on technology-driven solutions that enhance the patient experience and financial performance for healthcare organizations.
R1 RCM Inc. (NASDAQ: RCM) will release its financial results for Q4 and the full year of 2021 on February 17, 2022, before market open. The company's management will hold a conference call on the same day at 8:00 AM ET to discuss the outcomes and future business outlook. Interested participants can dial in or join via webcast on the company's Investor Relations website. R1 RCM specializes in technology-driven solutions that enhance patient experience and improve financial performance for healthcare providers.
R1 RCM (NASDAQ:RCM) is enhancing its team by hosting a virtual career open house on January 25, 2022, to recruit over 80 technology roles, emphasizing its commitment to simplify healthcare. As a leader in revenue cycle management, R1 manages over $40B in net patient revenue annually. The company aims to address operational challenges in healthcare through automation and technology. R1's strategy includes strategic acquisitions to advance its digital solutions. This initiative reflects a dedication to improving patient outcomes and operational efficiency.
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