R1 RCM sees effects of Change cyberattack on Q1 results

Becker's Healthcare May 8, 2024
Andrew Cass

R1 RCM posted a net loss of $35.1 million in the first quarter of 2024, compared to a net income of $1.6 million over the same period last year, according to the company’s May 8 financial report.

The company saw revenues of $603.9 million in the quarter ended March 31, up 10.7% over the same period last year. R1 posted an adjusted EBITDA of $152.2 million, compared to an adjusted EBITDA of $142.2 million in the same period last year.

R1 said the fallout of the Change Healthcare cyberattack affected revenue and adjusted EBITDA by $9.5 million.

The company also updated its full-year 2024 outlook. It is projecting revenue of $2.6 billion to $2.64 billion, adjusted from the $2.63...

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