Becker's Healthcare November 13, 2023
R1 RCM will restate previously issued financial statements for 2021, 2022 and the first two quarters of 2023.
The company said in a Nov. 13 news release that immediately prior to the scheduled filing of its Form 10-Q for the third quarter 2023, it identified “errors related to the accounting for certain acquiree compensation costs (e.g., transaction bonuses and accelerated equity award vesting) incurred as a result of historical acquisitions.”
These expenses should have been recorded as “other expenses” within the consolidated statements of operations and comprehensive income, but instead were included in the purchase price allocations and ultimately recorded as goodwill in the consolidated balance sheets, according to the release.
R1 determined that the drivers of the...
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