R1 rcm reports fourth quarter and full year 2016 results – yahoo finance

CHICAGO, March 01, 2017 (GLOBE NEWSWIRE) — R1 RCM Inc. Health insurance mergers (“R1” or the “Company”) (OTC Pink:ACHI), a leading provider of revenue cycle management and physician advisory services to healthcare providers, today announced results for the three months and full year ended December 31, 2016.
• GAAP net services revenue of $106.2 million, compared to $68.3 million for the fourth quarter of 2015
• GAAP net income of $13.1 million, compared to $5.4 million for the fourth quarter of 2015
• Non-GAAP gross cash generated from customer contracting activities of $69.8 million, compared to $72.7 million for the fourth quarter of 2015
• Non-GAAP net cash generated from customer contracting activities of negative $0.4 million, compared to $27.0 million for the fourth quarter of 2015
• GAAP net services revenue of $592.6 million, compared to $117.2 million for 2015
• GAAP net income of $177.1 million, compared to a net loss of $84.3 million for 2015
• Non-GAAP gross cash generated from customer contracting activities of $208.7 million, compared to $230.2 million for 2015
• Non-GAAP net cash generated from customer contracting activities of negative $26.8 million, compared to $26.4 million for 2015
“R1’s fourth quarter results reflect the continued progress we are making in executing on our objectives and establishing a path towards sustained profitability,” said Joe Flanagan, President and Chief Executive Officer of R1. Health insurance that covers ivf “2016 overall was a pivotal year for R1 – in addition to renewal and expansion of our agreement with Ascension, we renewed our agreement with Intermountain Healthcare, added significant expertise to our senior management team, streamlined our cost structure, and generated substantial improvement in our financial results during the second half of the year. Health insurance indiana The progress we have made gives us confidence in our outlook for 2017 and we firmly believe it also positions us well for new customer growth.”
“We remain focused on driving our performance to achieve our financial and strategic objectives. Women’s health gov Our 2017 guidance marks significant anticipated improvement over 2016, and is reflective of the actions we took in 2016 to improve our execution,” added Chris Ricaurte, Chief Financial Officer and Treasurer of R1. Indiana health care “I am also pleased that we have remediated the previously disclosed material weaknesses in our internal controls and simplified our financial reporting as a result of adopting the new revenue recognition standard in 2017.”
R1’s management team will host a conference call today at 4:30 p.m. Health insurance for self employed Eastern Time to discuss its financial results and business outlook. Top 5 health insurance companies in india To participate, please dial 877-880-5884 (631-601-2894 outside the U.S. Health insurance rates and Canada) using conference code number 73785618. Health insurance dependent A live webcast and replay of the call will be available at the Investor Relations section of the Company’s web site at r1rcm.com.
In order to provide a more comprehensive understanding of the information used by R1’s management team in financial and operational decision making, the Company supplements its GAAP consolidated financial statements with certain non-GAAP financial measures, which are included in this press release. Health insurance requirements These include gross and net cash generated from customer contracting activities and adjusted EBITDA. Healthcare quality Our Board and management team use these non-GAAP measures as (i) one of the primary methods for planning and forecasting overall expectations and for evaluating actual results against such expectations; and (ii) a performance evaluation metric in determining achievement of certain executive incentive compensation programs, as well as for incentive compensation programs for employees.
Gross cash generated from customer contracting activities is defined as GAAP net services revenue, plus the change in deferred customer billings. History of primary health care Accordingly, gross cash generated from customer contracting activities is the sum of (i) invoiced or accrued net operating fees, (ii) cash collections on incentive fees and (iii) other services fees. Intermountain healthcare my health Net cash generated from customer contracting activities reflects non-GAAP adjusted EBITDA and the change in deferred customer billings.
Adjusted EBITDA is defined as net income before net interest income (expense), income tax provision, depreciation and amortization expense, share-based compensation expense, reorganization-related expense and certain other items. Home health care supplies The use of adjusted EBITDA to measure operating and financial performance is limited by our revenue recognition criteria, pursuant to which GAAP net services revenue is recognized at the end of a contract or other contractual agreement event. Health insurance with dental Adjusted EBITDA does not adequately match corresponding cash flows from customer contracting activities. Healhcare As a result, the Company uses gross cash and net cash generated from customer contracting activities to better compare cash flows to operating performance.
Deferred customer billings include the portion of both (i) invoiced or accrued net operating fees and (ii) cash collections of incentive fees, in each case, that have not met our revenue recognition criteria. Health insurance logos Deferred customer billings are included in the detail of our customer liabilities, and customer liabilities – related party balance in the condensed consolidated balance sheets available in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.
Table 4 presents a reconciliation of GAAP revenue to gross cash generated from customer contracting activities, and Table 5 presents a reconciliation of GAAP net income (loss), the most comparable GAAP measure, to adjusted EBITDA and net cash generated from customer contracting activities, in each case, for each of the periods indicated. Selective health care Table 9 presents a reconciliation of projected GAAP operating income, which will be the most comparable GAAP measure for future periods following the adoption of the new revenue recognition standard, to projected Adjusted EBITDA. Home healthcare agency These adjusted measures are non-GAAP and should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP.
This press release contains forward-looking statements, and in particular, any statements about future growth, plans and performance, including statements about the Company’s forecast for 2017, are forward-looking statements. Get health insurance All forward-looking statements contained in this press release involve risks and uncertainties. Cheapest health insurance dubai The Company’s actual results and outcomes could differ materially from those anticipated in these forward-looking statements as a result of various factors, including the factors set forth under the heading “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2016, filed with the U.S. Healthcare associations Securities and Exchange Commission (“SEC”) on March 1, 2017. Intermountain healthcare login The words “strive,” “objective,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “designed,” “plans,” “projects,” “vision,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Health care debate The Company has based these forward-looking statements on its current expectations and projections about future events. Cheap health insurance colorado Although the Company believes that the expectations underlying any of its forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Health insurance options Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections, or expectations prove incorrect, actual results, performance, financial condition, or events may vary materially and adversely from those anticipated, estimated, or expected.
All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. Health insurance lawyer The Company cautions readers not to place undue reliance on any forward-looking statement that speaks only as of the date made and to recognize that forward-looking statements are predictions of future results, which may not occur as anticipated. Global healthcare Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the uncertainties and factors described above, as well as others that the Company may consider immaterial or does not anticipate at this time. Health insurance medicaid Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, the Company does not know whether its expectations may prove correct. Health insurance gap coverage The Company’s expectations reflected in its forward-looking statements can be affected by inaccurate assumptions it might make or by known or unknown uncertainties and factors, including those described above. Women’s health hotline The risks and uncertainties described above are not exclusive, and further information concerning the Company and its business, including factors that potentially could materially affect its financial results or condition or relationships with customers and potential customers, may emerge from time to time. Private health insurance for illegal immigrants The Company assumes no, and it specifically disclaims any, obligation to update, amend, or clarify forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements. Health insurance marketplace The Company advises investors, however, to consult any further disclosures it makes on related subjects in its periodic reports that it files with or furnishes to the SEC.
R1 serves as the one revenue cycle management partner for select hospitals and healthcare systems regardless of their payment models, patient engagement strategies, or settings of care. Healthcare grants The Company uses a proven operating model based on the R1 Performance Stack SM designed to fit seamlessly into any healthcare organization’s infrastructure and to enhance the patient experience, improve provider economics, and provide revenue predictability. Health insurance basics To learn more, visit r1rcm.com.
8.00% Series A convertible preferred stock: par value $0.01 per share, 370,000 authorized, 210,160 shares issued and outstanding as of December 31, 2016; no shares authorized or issued as of December 31, 2015 (aggregate liquidation value of $214,363 as of December, 2016)
Common stock, $0.01 par value, 500,000,000 shares authorized,116,425,524 shares issued and 106,659,542 shares outstanding at December 31, 2016; 113,259,408 shares issued and 107,715,436 shares outstanding at December 31, 2015
Consolidated Statements of Operations and Comprehensive Income (Loss)
Weighted average shares used in calculating net income (loss) per common share:
Adjustments to reconcile net income (loss) to net cash used in operations:
Customer liabilities and customer liabilities – related party
Series A convertible preferred stock and warrant issuance, net of issuance costs
Accrued liabilities related to purchases of property, equipment and software
Accounts payable related to purchases of property, equipment and software
Reconciliation of GAAP Net Services Revenue to Non-GAAP Gross Cash Generated from Customer Contracting Activities
Components of Gross Cash Generated from Customer Contracting Activities:
Reconciliation of GAAP Net Income/(Loss) to Non-GAAP Net Cash Generated from Customer Contracting Activities
1Excludes share-based compensation, depreciation and amortization, and other costs
Reconciliation of GAAP Operating Income Guidance to Non-GAAP Adjusted EBITDA Guidance

Copyright © 2017 GlobeNewswire. Affordable health insurance in pa All rights reserved. Who primary health care Redistribution of this content is expressly prohibited without prior written consent.


Women’s health foundation GlobeNewswire makes no claims concerning the accuracy or validity of the information, and shall not be held liable for any errors, delays, omissions or use thereof.

Leave a Reply

Your email address will not be published. Required fields are marked *