I operate B206B and I find that the Bell published Direct operating cost is pretty accurate @ $200.-
pr/hr.
The DOC does not include insurance, hangar, crew compensation & financing.
But the R44 is probably cheaper although I have not much experience with the R44 (only R22!) but comparing these two is comparing apples and oranges, they´re not really in the same class if you want to operate them commercially in my opinion.
Its like people often compare the B206B with the AS-350B2 which really competes with the B407.
I guess the B206B should be compared to EC120 really! and I know that the JetRanger will be cheaper and more reliable than the EC120 although the JetRanger will make more noise.
But for a cheap to run personal helicopter I´m sure the R-44 is fine.