R1 RCM posted revenues of $545.6 million the first quarter of 2023, up $159.9 million — 41.5 percent — over the same period last year, according to its financial report released May 4.
The revenue cycle management company saw a net income of $300,000, compared to $29.4 million over the same period last year, according to the report.
The company is projecting it will generate revenues between $2.28 billion and $2.33 billion in 2023, according to the report. It is projecting income between $115 million and $140 million for the year.
"Our strong first quarter results demonstrate the team's focus on execution and our ability to deliver value to stakeholders in a dynamic operating environment," CEO Lee Rivas said in the report. "Demand for our services remains robust and we continue to invest in technology to enhance our value proposition for healthcare providers."