R1 RCM's revenue hits $392M in Q2

R1 RCM's revenue reached $391.9 million in the second quarter of 2022, according to the revenue cycle firm's financial report released Aug. 3.

Three things to know:

1. The firm's revenue is up 10.9 percent compared to the same quarter in 2021. 

2. R1 RCM saw a net income loss of $20.4 million in the second quarter, compared to a net income gain of $18.4 million over the same period in 2021. The net loss was primarily driven by $74.4 million in expenses related to its completed acquisition of Cloudmed, the report said.

3. CEO Joe Flanagan said the reported revenue was at the high end of the company's expectations. "We are excited to embark on the next chapter of growth for R1 with the Cloudmed acquisition now complete," he said. 

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