Thanks, Charles. Find out more about how we use your information in our Privacy Policy and Cookie Policy. And Joe, maybe I can start here. Also, for comparison purposes, revenues changed by -18.14% and earnings by -163.23% compared to the immediate last … With our capabilities now tested and proven we feel very well positioned to help clients attract patients and bill for telehealth business at scale moving forward. SVB Leerink also issued estimates for R1 RCM’s Q4 2020 earnings at $0.05 EPS, Q1 2021 earnings at […] The others like new travel, the 401(k) match, imagine those show up pretty quickly? We hope everyone is doing well and staying safe during this unprecedented time, I will give Q1 results in a few minutes, but first I would like to update you on our response to the COVID-19 pandemic and the actions we're taking to mitigate its impact on our business. I don't take this lightly. [Operator instructions] Your first question comes from Charles Rhyee with Cowen. You talked about number of scenarios. In terms of building world-class infrastructure that's resilient and can, in essence, extend real meaningful scale leverage to our customers in a compliant and reliable way and I think this event is bringing to light. Our objective and we think there is significant value creation for the customers and strategic rationale is to progress those into operating partnerships. Download, follow and add "R1 RCM Inc." earnings calls to your podcast at EarningsCast. Charles, both near term and then looking to the second half of the year from what are we seeing and kind of directionally what we may think is a likely progression. We believe this action, combined with our current cash balance and revolver availability along with additional borrowing capacity under our current credit agreement and the cost containment actions we are taking will provide us with sufficient liquidity to withstand a wide range of scenarios stemming from the COVID crisis. And I would say furthermore, as you heard from Rick's comments, we're investing in capacity to make sure that we are ready to serve our customers as they navigate those puts, but that is, that's not something that we've availed ourselves too and it's not something we've ever even thought to talk with our customers about. 6, 2020 at 9:30 a.m. R1 RCM Inc. 2019 Q1 - Results - Earnings Call Slides. That's the one thing that we just don't have a great ability and I think our view is pretty consistent for sure in the discussions we've had with our provider customers, pretty consistent with their views. The brokerage currently has an outperform rating on the healthcare provider’s stock. R1 RCM eps - earnings per share from 2009 to 2020. So I should highlight that just for avoidance of doubt. As Joe noted, we will continue to provide a directional revenue view during the interim period and have suspended our previously issued guidance. I'd like to remind everyone that we will be referencing non-GAAP metrics on today's call. Good morning, guys, and thanks for taking the questions. Penn State has approximately $2.2 billion in NPR, and it is one of the most well-known academic health systems in the country. Track R1 RCM stock price in real-time on Markets Insider here. These volume declines started to stabilize in mid-April and over the last couple of weeks, we have started to see electric procedures being scheduled in states that are easing restrictions or were not severely impacted by COVID-19. We're on the front lines of this pandemic ensuring patients have access to care in a safe and expeditious manner. From a cost standpoint, non-GAAP cost of services in Q1 were $237.6 million compared to $246.3 million last quarter and $223.5 million a year ago. R1 Rcm (RCM) reported breakeven results for the 3rd Quarter September 2020 on revenue of $307.2 million. R1 RCM Inc helps U.S. hospitals, physicians and other healthcare providers to more efficiently manage their revenue cycle operations, which encompass patient registration, insurance, and benefits verification, medical treatment documentation and coding, bill preparation and collections. In the range of outcomes that could occur, it definitely could occur. R1 RCM (NASDAQ:RCM) Earnings Information R1 RCM last posted its quarterly earnings results on November 3rd, 2020. Now our view is that May should be the low point and we have a fair degree of visibility in the sense that the last 10 days or so of April and that has progressed into the first couple of days in May, we are seeing restart, reboot activities in a number of our markets and we're seeing that show-up both in transactional activity, meaning the signals for scheduling and the signals for registration and financial clearance, we're also seeing it on the leading indicators of billings and volume flowing through the various Rev Cycle process. Great. Looking forward, we believe this event has the potential to accelerate providers' inclination to enter into end to end agreements. I don't think we've assumed a necessarily a material catch-up period. The interim operating budget that Quorum had filed as part of its profit, are they in line with your initial contract terms or you had to make any adjustments to the contract or any concessions over the course of all of that? So that's, we have visibility around that and kind of, that's what we're seeing and I would say we have a fair degree of confidence again based on the past two to three weeks activity that we would expect May to be a low point and June to be higher. May 9, 2019 07:00 AM CDT. We're growing that to support providers. RCM updated stock price target summary. for-phone-only for-tablet-portrait-up for-tablet-landscape-up for-desktop-up for-wide-desktop-up R1 RCM INC trades on the NASDAQ. Rachel brings 25 years of experience across a number of finance roles including financial planning and analysis, investor relations and treasury operations. As a company, we have become more agile and learn that we can collaborate in new ways. Yes. Our goal is to ensure providers have the administrative Information to implement telehealth services in an expedited and compliant manner. R1 RCM EPS misses by $0.02, beats on revenue SA Breaking News 05/05 07:07 ET. I just one of the — it's nice to hear that reassurance. So you're not left standing if the music stops at a particular client? I guess, Joe I wanted to ask about some of the emerging themes you talked about with COVID that could be driving sales activity. For the second quarter, we expect revenue to decline $10 million to $20 million sequentially, driven by lower volumes for our smaller physician customers and lower modular revenue. R1 RCM Reports First Quarter 2020 Results Globe Newswire 05/05 07:00 ET. Good morning everyone and welcome to the call. We know we'll eventually get through this, and we look forward to updating everyone on our future calls. We have also accelerated the corporate cost savings initiative that was originally planned for the fourth quarter. Our Revenue Integrity team is helping identify claims that may have been paid incorrectly or are eligible for billing recording changes based on regulations that can be applied retrospectively. Rick will continue with R1 in his prior role as Corporate Controller and Chief Accounting Officer. Long term, we remain very bullish on the significant growth opportunity in our target markets. Our services in the midst of this I think is a real testament to all the hard work and all the investments that we've made over the past three to four years. ET. I would say it's both, it definitely is not solely sustaining and keeping current pipeline activities progressing, although I would say that this events in our approach to this event on current active pipeline opportunities is definitely contributing to their continued progression, but we absolutely are seeing new opportunities come into the pipeline, as we're progressing through this COVID crisis. Questions and Answers. I think this event in the approach we've taken has given us a very compelling proof point, that we are good stewards when we have control of the operation. Thanks. Your next question comes from Matthew Gillmor with Baird. RCM's market cap is 2.2 Billion. In the front-end processes, in most cases we are running the scheduling function as part of our relationship with the customers and so we are seeing real-time and in fact we're interfacing with the clinical decision making forums on how that restart should be planned and what are the algorithms, so to speak, to start to signal the schedulers to be rebooking and filling capacity. ET. The primary driver of the increase was a use of cash related to the timing of annual incentive compensation which was paid in the first quarter. And just one last follow-up, you talked about your views in terms of what you expect in terms of a rebound as you kind of come out of May, June, you know you said it's kind of in line with how your clients are thinking. One, we're cash-flow positive in the year on those actions and it ensures we lock in a full 12 months of benefit in 2021. I don't think they necessarily have a great amount of visibility on this is a wide range of scenarios that could play through. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Thanks. Consequently, as of today, we have a high degree of visibility into net operating fees through early September. Webcast. R1 RCM, Inc. engages in the provision of revenue cycle management to healthcare providers. R1 RCM Inc. analyst estimates, including RCM earnings per share estimates and analyst recommendations. R1 RCM had a net margin of 4.02% and a return on equity of 182.08%. As a starting point, it's important to understand that because of the structure of our customer contracts, the vast majority of our net operating fees lag cash collections at our customers by roughly four months. Yes. Stay up to date with lastest Earnings Announcements for R1 RCM Inc. from Zacks Investment Research If I could just ask a couple of follow-ups. Good morning. Yes. We are encouraged with the amount of activity and signings for our modular offerings as well. However, we are optimistic that we will complete the onboarding of the Rush by the end of the year. Contents: Prepared Remarks. R1 RCM Inc. (RCM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Questions and Answers. Some of the emerging themes we are hearing from prospects are as follows. Notable earnings before Tuesday's open So my hope, or my expectation is that we definitely coming out of this and even real-time are seeing increased activity of new opportunities, new discussions in the pipeline and continued progression of active discussions. The company was founded by Mary Ann Tolan and J. Michael Cline in July 2003 and is headquartered in Chicago, IL. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. These last seven months have been a tremendous experience for me, and I'm extremely proud of the way that finance team came together during this time. Thanks. View the real-time RCM price chart on Robinhood and decide if you want to buy or sell commission-free. ET. Charles Rhyee -- Cowen and Company -- Analyst. Relative to CARES Act, we are not participating in that. Thank you. R1 RCM Reports First Quarter 2020 Results Globe Newswire 05/05 07:00 ET. Our ongoing deployments continue to progress notwithstanding local and state COVID-19 restrictions. We have created a specialized telehealth [denials] program led by our performance management organization to isolate trending on telehealth claims to monitor payer behavior and identify any claims that need to be changed to allow for payment. Watch R1 RCM stock price in real-time on Markets Insider here. Motley Fool. I would now like to hand the conference over to your speaker today, Atif Rahim, head of investor relations. So obviously, there was some unfortunate news in the press around Quorum having some financial difficulties. We have taken our role very seriously. And then maybe going back to Quorum for just another moment your payments there that are outlined in the court filings. The entire leadership team and our board is very appreciative of Rick's work and I'd like to say a big thank you on everyone's behalf. In light of all of this uncertainty, R1's financial performance for the rest of the year could fall in a wide range notwithstanding our strong basis for believing that our growth trajectory is fundamentally intact and perhaps improved over the long-term. My name is Carol, and I will be your operator today. R1 RCM Inc. (NASDAQ:RCM)Q1 2020 Earnings CallMay 05, 2020, 8:00 a.m. Contents: Prepared Remarks. R1 RCM Inc. Q1 2020 Earnings Call Transcript Sunday, 15 March 2020 yahoo. We are prepared to successfully navigate a variety of scenarios, while simultaneously ensuring the company is positioned for long-term growth. Find the latest Earnings Report Date for R1 RCM Inc. Common Stock (RCM) at Nasdaq.com. Also, for comparison purposes, revenues changed by -18.14% and earnings by -163.23% compared to the immediate last … Net debt at the end of the first quarter inclusive of restricted cash was $275.8 million up from $254.4 million at the end of 2019. Operator. Our actions in response to COVID-19 are centered around three key areas: First, the health and safety of our workforce. Should a situation arise that we're able to navigate it and I think Quorum is a good example of that and you may have seen in the filings, but we were deemed essential vendor as it relates to Quorum and all of our ongoing expenses have been fully approved by the courts. Are they sort of like, if you take the Penn deal win, are they sort of are we sort of testing the waters and then maybe that progresses into a full outsourcing relationship or how those discussions likely to evolve? I also think looking more long term that, whether it be operating, co-managed agreements that we have in place or pipeline opportunities that are out trying to decide, between the trade-offs in the eyes of the customer of a co-managed or operating partnership. Given our end to end coverage of the revenue cycle and broad customer base, R1 is in a unique position to view data and trends at a very granular level. On May 1st, we just went live in four regional markets for this customer and are on track for completion early in the fourth quarter. Mar. We've been able to reduce up to two-thirds of patient interactions with registrars while realizing around 40% improvement in productivity. R1 RCM : R1 RCM Inc (NASDAQ:RCM) to Post Q1 2020 Earnings of $0.05 Per Share, KeyCorp Forecasts R1 RCM Inc (NASDAQ:RCM) - Research analysts at KeyCorp dropped their Q1 2020 earnings per share (EPS) estimates for R1 RCM in a research report issued on Thursday, February 20th. To receive notifications via email, enter your email address and select at least one subscription below. Customer receptivity has been very positive and the timing could not have been better. From a cost standpoint, I would say the cost actions we're taking are in the 10s of millions of dollars in terms of, in terms of those that we referenced we've put in, put in place, and are executing against. We have just under $20 million in mandatory debt repayments over the remainder of 2020. The variability of our cost structure is quite significant. Current trends in healthcare utilization are very dynamic provider cash collections are challenging to forecast accurately due to a number of factors. We'll start today's call with prepared comments by Joe Flanagan our CEO, followed by Rick Evans, interim CFO. The healthcare provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.00 by $0.11. Thank you, Atif. SCI positions us extremely well to make the four critical scheduling functions as I mentioned earlier, a competitive advantage for our customers. Accelerating these savings to the start of the third quarter results and are being net cash flow positive in 2020 and locking in a full-year benefit for 2021. We are delighted and honored that Penn State selected us to support them for the revenue cycle and patient experience needs. Image source: The Motley Fool. At this time I would like to welcome everyone to the R1 RCM first-quarter 2019 earnings call. Our focus on with Penn State is just a world-class deployment and really demonstrating the capability of our human capital, our technology and how that technology brings value above and beyond the whole system. We expect to emerge from this crisis as a leaner more efficient company that is well-positioned to drive continued strong performance for our customers as well as our shareholders. April was down about 17% and we anticipate May to be down circa 25%. On the commercial front, last week we signed a five-year co-managed agreement with Penn State Health covering their end to end processes in the acute and ambulatory settings. And I think I can't emphasize how important that is to the long-term value of the franchiser of the company given what in our opinion is the very early innings of a structural progression revenue cycle. We have invested heavily. Hey. At this time, all participants are in a listen-only mode. Your line is open. R1 RCM Reports First Quarter 2020 Results Globe Newswire 05/05 07:00 ET. And so essentially what we're doing is pulling that in, to July, as opposed to a Q4 execution that ensures two things. Let me provide a few examples. And I'm sure that's I'm sure folks are hearing that as well in the press around different provider groups and hospital struggling. R1 RCM Inc. is buying Cerner Corp.'s RevWorks revenue-cycle management business for an undisclosed amount. But if you look, it looks like a number of companies have already reported so far have all tended to give some estimation for obviously a weak 2Q in terms of volume, but starting to bounce back in 3Q and 4Q, maybe start there and just get your sense on how you see the ramp in terms of a return to normalization? The inefficiency associated with multiple third-party vendors is coming to light and the business continuity and infrastructure resiliency we've been able to demonstrate through this crisis is viewed favorably. If you look at our hospital-based employees whether it via technology on the mobile REG, whether it be just rapid segmentation where physical interface does have to occur being very rapid on mobilizing that, always in lockstep with our customers. OK, that's very helpful. It depends on, how far in advance that is and so there's a myriad of factors outside of the contract just on a normal operating basis that give us a high degree of confidence. I mean we've talked about. WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. I think we've been able to credibly answer that, this has helped us to again build on that, but I think much more importantly, it's given us an opportunity to demonstrate our strong partnership and that is really important as current or potential customers are thinking about a transition of control. The real question for us is just, again, not the direction, but it's with any degree of specificity what does that slope look like heading through the balance of the year. R1 RCM Q1 Earnings Miss Estimates, Revenue Beats MT Newswires 05/05 10:05 ET. Wall Street analysts are expecting earnings per share of $0.143. [Operator instructions]. Change the date range, see whether others are buying or selling, read news, get earnings results, and compare R1 RCM against related stocks people have also bought. Seeking Alpha - 1 year ago R1 RCM, Inc. (RCM) CEO Joseph Flanagan on Q1 2019 Results - Earnings Call Transcript Year-over-year growth was driven by continued progression of operating partner customers along the profitability curve, offset partly by onboarding costs for new customers. Questions and Answers RCM's market cap is 2.4 Billion. GlobeNewswire. Source: OTC Breaking News R1 RCM : Investor Network: R1 RCM Inc to Host Earnings Call NEW YORK, NY / ACCESSWIRE / May 9, 2017 / R1 RCM Inc (NASDAQ: RCM) will be discussing their earnings results in their Q1 Earnings Call to be held May 9, 2017 at 4:30 PM Eastern Time. Would you also expect that we're going to have a catch-up to, are you expecting a catch-up period for elective, so basically running greater than 100% of sort of normal procedure volume as of the year and I guess more specifically, is this sort of the anticipation from your clients as you speak to them and how they are preparing for the back half of the year? Presentation (opens in new window) PDF. R1 RCM Inc. (NASDAQ: RCM) Q1 2019 Earnings Call May. Market data powered by FactSet and Web Financial Group. The consensus earnings estimate was $0.02 per share on revenue of $294.2 million. And there is a lot of value to be delivered to the providers by rationalization of the revenue cycle infrastructure at large over time. Good morning. Add to Apple Calendar; Add to Google Calendar; Add to Microsoft Outlook; Add to iCalendar; Email Alerts. On May 5, R1 RCM will be reporting earnings Q1. We have implemented appreciation bonuses for our front-line employees, enabled pre COVID testing, and expand the paid time off for employees affected by low volumes. $4.6 million increase in incentive fees as well as organic growth across our customer base. Investors are cautioned not to place undue reliance on such forward-looking statements. So what I would say, Don, is we have a very good track record. Set Alert Options Streaming Charts. We view this as an opportunity to demonstrate our deep commitment and the cultural mindset we have across the company to be a long-term partner to our customers. And then from just a fee basis we typically get base fees in advance of service. I don't think the question mark never has been on value prop such as ours. I think it's demonstrated and it's given us some very compelling proof points to sell off, that we operate like an owner, we're an extension of our customer's organization. ET. And I can't emphasize how important that is long-term for the company and for the value creation of all stakeholders within the company. And that function, we're starting to get a real sense of what is the mindset of the patients and what is their propensity to actually agree to comment. R1 RCM Inc. (NASDAQ:RCM) Q1 2020 Earnings Conference Call May 5, 2020 08:00 ET Company Participants Atif Rahim - Head, Investor Relations Joe Flanagan - … In addition to the increased operating targets, we are also providing advanced analytical support to the teams within our customers who interact with managed care organizations. Navigation of the r1 RCM stock price in real-time on Markets Insider here of visibility into net fees... 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