Financial Data and Key Metrics Changes - Revenue totaled $560.7 million, representing a 43% year-over-year growth, driven by contributions from the Cloudmed acquisition and new customer wins [49][79] - Adjusted EBITDA was $142.9 million, growing 64% year-over-year, with an $11.6 million reserve increase impacting the results [49][51] - Cash and cash equivalents at the end of June were $123.1 million, up from $104.2 million at the end of March, with $57.4 million generated from operations in the quarter [84] Business Line Data and Key Metrics Changes - Net operating fees of $357.8 million grew approximately 12% year-over-year, while incentive fees reached $30.8 million, exceeding expectations due to strong operational performance [113][114] - Revenue from Cloudmed solutions increased by 20% year-over-year and is on track for similar growth for the full year [81] Market Data and Key Metrics Changes - The company noted a modest improvement in accounts receivable (AR) and aged AR, indicating a stable operating environment [104][163] - The pipeline for new business remains strong, with expectations to sign $4 billion of net patient revenue (NPR) by year-end [130][156] Company Strategy and Development Direction - The company is focused on leveraging technology, including automation and AI, to enhance operational efficiency and customer satisfaction [63][75] - There is a strong emphasis on cross-selling opportunities within the Cloudmed customer base, aiming to optimize underpayments and improve service offerings [14][21] Management's Comments on Operating Environment and Future Outlook - Management expects slow, steady improvement in the second half of the year, with a return to historical norms in accounts receivable timelines [8] - The company is confident in its ability to navigate macroeconomic challenges and is focused on operational execution and customer performance metrics [61][111] Other Important Information - The company is on track to achieve approximately $30 million in cost synergies from integration activities in 2023 [117] - The adjusted EBITDA guidance for 2023 has been updated to a range of $600 million to $615 million, reflecting operational improvements and the impact of the reserve taken [88][119] Q&A Session Summary Question: What is the impact of the physician customer on revenue guidance? - The company expects a revenue impact of about $15 million in the second half of the year due to the wind down of the physician customer [154] Question: How is the market demand for new business? - Management indicated strong market demand and increased interest from mid-to-large systems, with a focus on technology investments to drive efficiency [158] Question: What is the current status of payer reimbursement timelines? - Payer reimbursement timelines have shown some improvement, with overall stability noted in claims payable [140]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 001-41428 R1 RCM INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organi ...

First Quarter 2023 Earnings Call May 4, 2023 Forward-Looking Statements This presentation includes information that may constitute "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events and relationships, plans, future growth, and future performance, including, but not limited to, statements about future fin ...

In closing, we are very pleased with our Q1 results. I will leave you with three comments: number one, we are encouraged with the progress we are making in operational execution; two, we're cautiously optimistic in the trends we're seeing in the industry and in our business; and three, we remain confident in our ability to execute on our plans for the remainder of the year. I look forward to updating you on our progress in future calls. Now, I'll turn the call over to the operator for Q&A. Operator? Questio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 001-41428 R1 RCM INC. (Exact name of registrant as specified in its charter) Delaware 87-4340782 (State or other jurisdiction of in ...

Non-GAAP Financial Information $900B+2 Total NPR Covered 77 RI Wage inflation pressures >70% of Spend Still Managed In-house 2023 Barclays Global Healthcare Conference John Sparby President | --- | --- | --- | --- | |--------------------------------------|----------------------------|------------------|------------------------| | | Physician | Acute | Post-acute | | | All Revenue Cycle Phases | | | | | Scheduling | Care to Claim | Claim to Payment | | Solutions to | All Payment Models | | | | address the fu ...

Financial Performance & Growth - R1 expects approximately $2.3 billion in revenue for 2023[12] - The company anticipates a revenue Compound Annual Growth Rate (CAGR) exceeding 15% from 2018 to 2023[12, 57] - R1 projects an Adjusted EBITDA margin of approximately 26-27% for 2023[20, 60] - The company forecasts Adjusted EBITDA between $595 million and $630 million for 2023[60] - R1's revenue grew from $869 million in 2018 to an estimated $2305 million in 2023, while Adjusted EBITDA increased from $57 million to $613 million during the same period[57] Market & Operational Highlights - R1 operates in a Total Addressable Market (TAM) of approximately $115 billion[12] - The company covers over $900 billion in Total Net Patient Revenue (NPR)[13, 48] - R1 automates over 150 million tasks annually[42, 48] - R1's intelligent automation offering has led to an approximate 15% reduction in Full-Time Equivalents (FTEs) for its clients[48] Market Dynamics - The external spend in the RCM market is expected to more than double by 2030, growing at a CAGR of 12% from approximately $32 billion in 2022 to $77 billion[36, 39]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-41428 R1 RCM Inc. (Exact name of registrant as specified in its charter) Delaware 87-4340782 Washington, D.C. 20549 Form 10-K (State or other jurisdiction of incorporation or or ...

Financial Data and Key Metrics Changes - Revenue for Q4 2022 was $532.8 million, up almost 34% year-over-year, and adjusted EBITDA was $125 million, up 31% [29][18] - For the full year, revenue grew 22.5% to $1.8 billion, and adjusted EBITDA grew nearly 24% to $425.5 million [29][18] - Cash and cash equivalents at the end of December were $110.1 million, down from $131.1 million at the end of September [32] Business Line Data and Key Metrics Changes - Cloudmed contributed $126.5 million in revenue for Q4 and $260 million for the full year after the acquisition closed in June 2022 [29] - Organic revenue growth, excluding Cloudmed, was approximately 2% year-over-year in Q4 and 5% for the full year [29] - Incentive fees in Q4 totaled $25.9 million, declining $9.9 million year-over-year due to payer timeline dynamics [30] Market Data and Key Metrics Changes - The company operates in a $115 billion end market, which continues to grow roughly 10% annually [19] - The modular pipeline reflects high demand for AR denials and revenue enhancement solutions, with expectations for Cloudmed offerings to grow revenue by 20% in 2023 [25] Company Strategy and Development Direction - The company is focused on operational execution and advancing a technology agenda to drive cost efficiencies and value for customers [7][11] - The integration of Cloudmed is progressing well, with corporate systems mostly consolidated and a focus on transforming the delivery model [33] - The company aims to automate tasks in the revenue cycle and leverage data and analytics to improve customer experience and performance [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver on commitments for 2023, highlighting operational delivery and execution as key themes [7] - The company anticipates continued modest improvement in incentive fee revenues quarter-over-quarter throughout 2023 [22] - Management noted that the current inflationary environment and labor challenges in the U.S. create significant commercial opportunities [19][40] Other Important Information - The company expects to generate revenue of $2.28 billion to $2.33 billion in 2023, with adjusted EBITDA of $595 million to $630 million [54] - The company anticipates realizing $15 million to $30 million of cost synergies in 2023, now expecting to be towards the higher end of that range [79][149] Q&A Session Summary Question: What is the pipeline opportunity for 2023? - Management indicated that the pipeline is very strong, with significant financial pressure on providers driving demand for end-to-end solutions [61] Question: How should we think about the 1Q guidance and incentive fees? - Incentive fees are expected to be flat quarter-over-quarter in Q1, with modest improvements anticipated throughout the year [59][66] Question: Can you provide an update on onboarding capacity and new business? - The company is currently onboarding $8 billion of the $13 billion in new business signed in 2022, with the remaining $5 billion expected to impact in late 2023 to 2024 [64] Question: What are the expectations for Cloudmed growth? - Cloudmed is expected to grow revenue by 20% in 2023, with no significant seasonality in the business [25][72] Question: How is the integration of Cloudmed progressing? - Integration is going well, with corporate functions largely integrated and a focus on cross-selling opportunities [124]

Fourth Quarter and Full Year 2022 Earnings Call February 16, 2023 These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, assurance, prediction or definitive statement of fact or probability. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to ...