R1 RCM (NASDAQ:RCM) reported its Q4 results on Thursday, with EPS of ($0.09) coming in worse than the Street estimate of ($0.02), while revenue of $532.8 million beat the Street estimate of $519.18 million.

The company generated $344.4 million of net operating revenue in Q4, up 4% year-over-year, driven by contributions from new end-to-end customers. Incentive fees of $25.9 million dropped 28% year-over-year due to the continued impact of reimbursement elongation, although the delay has improved compared to last quarter as the company dedicated resources to drive better performance on KPI metrics and shorten the claims cycle.

Cloudmed continued to demonstrate solid momentum, contributing $126.5 million to the revenue in Q4.