R1 RCM Inc
R1 RCM Rg
ISIN US77634L1052 / Valor 119376523
R1 RCM Inc
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About company
R1 RCM Inc. is a provider of technology-enabled revenue cycle management (RCM) services for the healthcare industry. The company offers a comprehensive suite of solutions aimed at enhancing financial performance and patient care for healthcare providers. These services include revenue recovery, revenue optimization, clinical integrity, and regulatory navigation, all designed to address various aspects of the revenue cycle from ensuring accurate documentation and coding to optimizing reimbursement opportunities and ensuring regulatory compliance. R1 RCM leverages advanced analytics, leading technology, and deep domain expertise to deliver scalable solutions that meet the unique needs of its clients, aiming to improve patient experiences by reducing financial friction and enhancing operational efficiency. The company supports healthcare providers in managing the complexities of the revenue cycle, aiming to drive sustainable financial results and better patient care outcomes.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (24.12.2024):
Revenue Growth
In the fourth quarter of 2023, R1 RCM Inc. reported a revenue of $575.1 million, marking an increase of $41.8 million or 7.8% compared to the same period in the previous year. For the full year 2023, the company achieved a total revenue of $2,254.2 million, which is an increase of $447.8 million or 24.8% from 2022.
Net Income Improvement
R1 RCM Inc. recorded a GAAP net income of $1.4 million in the fourth quarter of 2023, a significant improvement from a net loss of $36.6 million in the same quarter of the previous year. For the full year 2023, the company reported a GAAP net income of $3.3 million, compared to a net loss of $63.3 million in 2022.
Adjusted EBITDA Increase
The company's adjusted EBITDA for the fourth quarter of 2023 was $167.7 million, representing an increase of $42.1 million or 33.5% compared to the same period last year. For the entire year, R1 RCM Inc. reported an adjusted EBITDA of $614.3 million, up by $190.5 million or 45.0% from 2022.
2024 Financial Outlook
Looking ahead to 2024, R1 RCM Inc. expects to generate revenue between $2,625 million and $2,675 million. The company anticipates a GAAP operating income ranging from $105 million to $135 million and an adjusted EBITDA between $650 million and $670 million.
Strategic Initiatives
R1 RCM Inc. has focused on strengthening its technology platform by driving innovation through generative AI and enhancing its global infrastructure. The company aims to leverage its capabilities to deploy flexible models that meet customers' needs in their revenue cycle journey, positioning itself for long-term sustainable growth and improved financial performance.
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