SAN FRANCISCO, Nov. 09, 2022 (GLOBE NEWSWIRE) — Hagens Berman Urges R1 RCM Inc. RCM Investors who have suffered significant losses Submit your losses now.

Visit: https://www.hbsslaw.com/investor-fraud/RCM
Contact a lawyer now: RCM@hbsslaw.com
844-916-0895

R1 RCM Inc. RCM Detection:

The investigation focuses on R1 RCM’s previous assurances that it has successfully initiated and enhanced recently contracted businesses, including Pediatrix (Mednax).

Doubts about R1 RCM’s assurances surfaced on November 8, 2022, when the company shocked the market with a net loss of $29.5 million for the third quarter of 2022, compared to a net income of $17 million for the same period of the previous year. Management attributed the dismal results in large part to lower income from incentive fees. During the results conference call, management announced that the company had identified fluctuations in key performance indicator (KPI) metrics at two operational partner customers that the company began onboarding in 2021. Management stated that these customers presented “unique complexities” resulting in R1 RCM is taking longer to meet expected performance targets.

In response to analyst inquiries about these complexities, management specifically identified Pediatrix as one of the impacted customers, stating that Pediatrix made a change in its host systems strategy “that initially left us unable to deploy our technology.”

Concurrent with the dismal financial results, R1 RCM also announced that its CEO (Joseph Flanagan) is leaving his position.

This news caused the price of R1 RCM shares to fall by almost 50% on November 8, 2022.

“We are focused on investors’ losses and whether R1 RCM misleadingly touted recent contract wins while concealing major deployment issues on the same customers’ systems,” said Reed Kathrein, the partner at Hagens Berman who led the investigation directed.

If you have invested in R1 RCM and suffer significant losses or have knowledge that may assist the firm’s investigations, Click here to discuss your legal rights with Hagens…