R1 RCM Broadcasts Management Appointments; Reaffirms 2022 Steerage and Broadcasts 2023 Outlook

R1 RCM Inc.

R1 RCM Inc.

Jennifer Williams Appointed Leader Monetary Officer; Kyle Hicok Appointed Leader Business Officer

MURRAY, Utah, Jan. 05, 2023 (GLOBE NEWSWIRE) — R1 RCM Inc. (NASDAQ: RCM) (“R1” or the “Corporate”), a number one supplier of technology-driven answers that grow to be the affected person enjoy and fiscal efficiency of healthcare suppliers, these days introduced the appointments of Jennifer Williams as Leader Monetary Officer and Kyle Hicok as Leader Business Officer, efficient right away. Ms. Williams and Mr. Hicok be triumphant Rachel Wilson and Gary Lengthy, respectively, who will step down from their roles and stay with the Corporate in advisory roles to make sure a unbroken transition.

Ms. Williams, who up to now served as Leader Monetary Officer of Cloudmed, brings greater than twenty years of monetary making plans, accounting, M&A and operational finance management enjoy throughout a number of healthcare income control, information analytics and expertise companies, together with Exchange Healthcare, First Benefit, LexisNexis Chance Answers and Ernst & Younger. Right through her profession, she has led a number of enlargement transformations, massive scale integrations and an preliminary public providing.

Mr. Hicok has greater than twenty years of healthcare income cycle control enjoy with experience in consulting, device and expertise building and income enhancement at corporations together with Stockamp, Huron Consulting and MedeAnalytics. He was once up to now Cloudmed’s President and Normal Supervisor the place he led Cloudmed’s business staff, specializing in enlargement, consumer products and services and function for all answers. As Vice President of Income Cycle Control at Optum360, Mr. Hicok was once answerable for transition, exchange control and third-party expertise implementation actions for end-to-end purchasers.

“As we head into 2023, we’re involved in executing our strategic plan, together with advancing our expertise investments and using our best-in-class business engine to ship price for our consumers and staff contributors,” stated Lee Rivas, Leader Govt Officer of R1. “Jennifer and Kyle are skilled leaders with firsthand wisdom of our industry and proportion R1’s dedication to operational excellence. Kyle’s in depth income cycle control enjoy and customer-centric mindset, coupled with Jennifer’s monetary and operational acumen will probably be very important to make sure persisted execution of R1’s targets. We acknowledge each Rachel and Gary for his or her many contributions and admire their efforts to assist ensure that an orderly transition for our consumers and staff.”

Ms. Williams stated, “I’m commemorated to take in this new position and proceed running with Lee and the management staff to force R1’s enlargement and profitability. R1 is well-positioned with many thrilling alternatives forward to proceed handing over for our purchasers, staff, and shareholders.”

Mr. Hicok stated, “I’m excited to construct at the business good fortune of R1 to proceed on our enlargement trajectory. I look ahead to strengthening our marketplace place and attaining robust effects for our purchasers around the healthcare business.”

Monetary Outlook

The Corporate is re-affirming 2022 complete yr steerage:

  • Income of $1,790 million to $1,800 million

  • GAAP working lack of $8 million to $13 million

  • Adjusted EBITDA of $420 million to $425 million

For 2023, R1 expects to generate:

  • Income of $2,280 million to $2,330 million

  • GAAP working source of revenue of $115 million to $140 million

  • Adjusted EBITDA of $595 million to $630 million

As up to now introduced, contributors of R1’s control staff will provide on the 41st Annual J.P. Morgan Healthcare Convention on Tuesday, January 10, 2023, at 7:30 am PT.

About Jennifer Williams

Jennifer Williams joined R1 following the purchase of Cloudmed, the place she served as Leader Monetary Officer since July 2020. Previous to Cloudmed, Ms. Williams served as Senior Vice President and Leader Monetary Officer of Company purposes for Exchange Healthcare. Previous in her profession, she was once the company controller and international finance chief at First Benefit and held monetary management positions at LexisNexis Chance Answers for over 10 years. She started her profession with Ernst & Younger.

Ms. Williams has a B.S. and Grasp of Accountancy levels from Auburn College and is an authorized public accountant.

About Kyle Hicok

Kyle Hicok joined R1 following the purchase of Cloudmed, the place he served as President and Normal Supervisor. Previous to Cloudmed, Mr. Hicok has served in a large number of positions the place he was once answerable for multi-state income cycle operations, nationwide consulting and shared provider operations, together with as, Vice President of Income Cycle Control at Optum360 from 2014 to 2017; in more than a few roles at MedeAnalytics from 2011 to 2013; Huron Consulting Team Follow from 2008 and 2009; and Stockamp from 2001 to 2008.

Mr. Hicok has a B.A. in Monetary Economics from Gustavus Adolphus School and a Grasp’s in Trade Management from the College of Florida.

About R1 RCM

R1 is a number one supplier of technology-driven answers that grow to be the affected person enjoy and fiscal efficiency of hospitals, well being methods, and clinical teams. R1’s confirmed and scalable working fashions seamlessly supplement a healthcare group’s infrastructure, temporarily using sustainable enhancements to internet affected person income and money flows whilst lowering working prices and embellishing the affected person enjoy. To be told extra, consult with:

Non-GAAP Monetary Measures

As a way to supply a extra complete working out of the tips utilized by R1’s control staff in monetary and operational determination making, the Corporate dietary supplements its GAAP consolidated monetary statements with sure non-GAAP monetary measures, together with adjusted EBITDA. Adjusted EBITDA is outlined as GAAP internet source of revenue sooner than internet pastime source of revenue/expense, source of revenue tax provision/get advantages, depreciation and amortization expense, share-based repayment expense, CoyCo 2, L.P. (“Coyco 2”) share-based repayment expense, and sure different pieces, together with industry acquisition prices, integration prices, strategic tasks, and the worldwide industry products and services middle growth mission within the Philippines. Adjusted EBITDA steerage is reconciled to working loss/source of revenue steerage, essentially the most intently similar to be had GAAP measure.

Our board of administrators and control staff use adjusted EBITDA as (i) one of the crucial number one strategies for making plans and forecasting general expectancies and for comparing precise effects in opposition to such expectancies and (ii) a efficiency analysis metric in figuring out success of sure government incentive repayment methods, in addition to for incentive repayment methods for staff.

Desk 1 items a reconciliation of Adjusted EBITDA steerage to working loss/source of revenue. Non-GAAP measures must be regarded as along with, however now not as an alternative to, the tips ready in line with GAAP.

Ahead-Taking a look Statements

This press unlock comprises knowledge that can represent “forward-looking statements” made pursuant to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995 and Segment 21E of the Securities Change Act of 1934, as amended. Ahead-looking statements in most cases relate to long term occasions and relationships, plans, long term enlargement, and long term efficiency. Those statements are ceaselessly known by means of phrases equivalent to “look ahead to,” “consider,” “estimate,” “be expecting,” “intend,” “designed,” “would possibly,” “plan,” “are expecting,” “mission,” “goal,” “ponder,” “would,” “search,” “see,” and identical expressions or diversifications or negatives of those phrases, even if now not all forward-looking statements include those figuring out phrases. Those statements are in line with more than a few assumptions, whether or not or now not known on this press unlock, and at the present expectancies of the Corporate’s control and don’t seem to be predictions of exact efficiency. Those forward-looking statements are supplied for illustrative functions simplest and don’t seem to be meant to function, and should now not be depended on by way of any investor as, a ensure, assurance, prediction or definitive commentary of reality or chance. Exact results and effects would possibly range materially from the ones pondered by way of those forward-looking statements because of uncertainties, dangers, and adjustments in cases, together with however now not restricted to chance and uncertainties associated with: (i) geopolitical, financial, and marketplace prerequisites, together with heightened inflation, slower enlargement or recession, adjustments to fiscal and fiscal coverage, upper rates of interest, foreign money fluctuations, and demanding situations within the provide chain; (ii) the Corporate’s skill to well timed and effectively reach the predicted advantages and doable synergies of the purchase of Cloudmed; (iii) the Corporate’s skill to retain present consumers or achieve new consumers; (iv) the improvement of markets for the Corporate’s income cycle control providing; (v) variability within the lead time of potential consumers; (vi) pageant inside the marketplace; (vii) breaches or disasters of the Corporate’s knowledge security features or unauthorized get admission to to a visitor’s information; (viii) behind schedule or unsuccessful implementation of the Corporate’s applied sciences or products and services, or sudden implementation prices; (ix) disruptions in or damages to the Corporate’s international industry products and services facilities and third-party operated information facilities; and (x) the continued have an effect on of the COVID-19 pandemic at the Corporate’s industry, working effects, and fiscal situation. Further dangers and uncertainties that might reason precise results and effects to range materially from the ones pondered by way of the forward-looking statements are incorporated beneath the heading “Chance Elements” within the Corporate’s annual document on Shape 10-Ok for the yr ended December 31, 2021, and some other periodic experiences that the Corporate would possibly report with the USA Securities and Change Fee. The foregoing listing of things isn’t exhaustive. All forward-looking statements incorporated herein are expressly certified of their entirety by way of those cautionary statements as of the date hereof and contain many dangers and uncertainties that might reason the Corporate’s precise effects to range materially from the ones expressed or implied within the Corporate’s forward-looking statements. Next occasions and tendencies, together with precise effects or adjustments within the Corporate’s assumptions, would possibly reason the Corporate’s perspectives to modify. The Corporate assumes no legal responsibility and does now not intend to replace those forward-looking statements, except for as required by way of regulation. You’re cautioned to not position undue reliance on such forward-looking statements.


R1 RCM Inc.
Investor Family members:
Atif Rahim

Media Family members:
Morgan Mathis

Desk 1

R1 RCM Inc.

Reconciliation of GAAP Working Source of revenue Steerage to Non-GAAP Adjusted EBITDA
Steerage (Unaudited)

(In thousands and thousands)




GAAP Working Source of revenue Steerage

$(8) – (13)

$115 – 140


Depreciation and amortization expense

$170 – 175

$260 – 280

Percentage-based repayment expense

$70 – 75

$75 – 85

CoyCo 2 share-based repayment expense

$5 – 7

$10 – 15

Strategic tasks, severance and different prices

$180 – 185

$110 – 135

Adjusted EBITDA Steerage




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