HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages R1 RCM Inc. (RCM) Investors with Significant Losses to Contact Firm's Attorneys, Firm Investigating Possible Securities Law Violations

SAN FRANCISCO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges R1 RCM Inc. RCM investors who suffered significant losses to submit your losses now.

Visit: https://www.hbsslaw.com/investor-fraud/RCM
Contact An Attorney Now: RCM@hbsslaw.com
844-916-0895

R1 RCM Inc. RCM Investigation:

The investigation focuses on R1 RCM's past assurances that it was successfully onboarding and optimizing recent contracted business, including Pediatrix (Mednax).

Doubts about R1 RCM's assurances emerged on Nov. 8, 2022, when the company shocked the market with a Q3 2022 $29.5 million net loss, compared to net income of $17 million in the same period last year. Management blamed the dismal results in large part on lower incentive fee revenue. During the earnings call, management disclosed that the company had experienced volatility in KPI (Key Performance Indicator) metrics at two operating partner customers where the company had commenced onboarding in 2021. Management revealed that these customers had "unique complexities," which resulted in R1 RCM taking longer to achieve its expected performance goals.

In response to analyst's inquiries regarding these complexities, management specifically identified Pediatrix as one of the impacted customers, stating Pediatrix had a change in their host system strategy, "which initially put us in a position not to deploy our technology."

Coinciding with the dismal financial results, R1 RCM also announced its CEO (Joseph Flanagan) was leaving his position.

This news sent the price of R1 RCM shares crashing almost 50% lower on Nov. 8, 2022.

"We're focused on investors' losses and whether R1 RCM deceivingly touted recent contract wins while concealing major deployment problems on these same customers' systems," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in R1 RCM and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding R1 RCM should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email RCM@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895