R1 RCM saw revenues of $1.8 billion in 2022 but a net loss of $57.6 million, according to its financial report released Feb. 16.
The revenue cycle management company's 2022 revenues were up from $1.47 billion in 2021, according to the report. Its net loss was down from a net income of $97.2 million in 2021.
In the fourth quarter of 2022, R1 saw revenues of $532.8 million, up from $398.9 million over the same period last year, according to the report. The company had a net loss of $37.1 million in the fourth quarter, down from a net income of $36 million over the same period in 2021.
"We are pleased to report strong fourth-quarter results," R1 RCM CEO Lee Rivas said in the report. "Our operating performance in the quarter sets the stage for continued momentum in 2023. Our technology-driven value proposition positions us to address some of the most complex problems facing healthcare providers. We continue to see increased demand for our solutions and remain very optimistic about our long-term growth trajectory."
R1 is expecting to generate revenues between $2.28 billion and $2.33 billion in 2023, according to the report. It also is expecting to generate operating income between $115 million and $140 million.